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Saskatoon real estate week in review: May 6-12, 2012

Saskatoon real estate sales continued to clip at a pretty good pace this past week with local agents reporting a total of 96 house and condo sales to the Saskatoon multiple listing service®. That number is down from the previous week by 13 properties and ahead of numbers produced during the same week last year by 12.


New listings numbers came in very strong this week. In fact, they once again reached their second-highest weekly level for the year as 184 houses and condominiums hit the market, to see an increase of five compared to last week and a whopping gain of 65 units compared against the same week in 2011.


Click the image for a larger version of the graph.



The total inventory of active MLS® listings in the residential category saw its first significant gain in weeks as that number pushed higher by 58 units from last week to reach 1,190 properties. That leaves us roughly 150 units shy, or about ten percent off of inventory levels recorded on the same date last year. Today’s active listing searches show 714 single-family homes (houses) and 397 condominiums bearing an “active” status. Last year, at this time, those numbers sat at 786 and 486 respectively.


Click the image for a larger version of the graph.



The average selling price of a Saskatoon home surged higher over the previous week gaining almost 20K to reach $337,459. The median sale price took the same direction but capped its gains at 18K reaching $318,900. For the fourth consecutive week, the six-week average selling price of a Saskatoon home reached a new record high. This past week, it grew by about twenty-five hundred dollars to finish the week at $346,386 and claimed an annual gain of just over thirty thousand dollars. The four-week median price slipped two thousand dollars from the previous week to $323,000 to put it $14,500 higher than it was one year ago.


Click the image for a larger version of the graph.



Saskatoon homes that traded for more than the asking price inched marginally higher to seven. Those fortunate sellers managed to pick up an additional $3,861 above their asking price. Another 18 home sellers bagged a full price offer. Meanwhile, 71 of this week’s 96 sales required a sharper pencil for the seller. Those deals concluded below the asking price by an average of $8,776.


Other notable Saskatoon real estate activity on the multiple listing service® this week includes 36 canceled and withdrawn listings, just 5 properties that expired from the system without a sale and 41 price changes.


Click the image for a larger version of the chart.


 


I’m always happy to answer your Saskatoon real estate questions.  All of my contact info is here. Please feel free to call or email.


Norm Fisher

Royal LePage Vidorra

Norm Fisher, Author of the TeamFisher Saskatoon Real Estate Blog

About Norm

Licensed in 1993, Norm brings a wealth of experience to TeamFisher. He has worked in every imaginable capacity including sales agent, office manager, team leader, broker and now, broker/owner. Norm has written a weekly review of the Saskatoon real estate market for more than 650 consecutive weeks which may make him the most consistent industry blogger in the world.Less...

Licensed in 1993, Norm brings a wealth of experience to TeamFisher. He has worked in every imaginable capacity including sales agent, office manager, team leader, broker and now, broker/owner. Norm has written a weekly review of the Saskatoon real estate market for more than 650 consecutive weeks which may make him the most consistent industry blogger in the world.

Norm is known for his passion for technology and can most often be found exploring and experimenting with the next big thing in real estate marketing. He was the first Saskatoon real estate agent to promote a home online and has been an early adopter of new technologies ever since. “Everything about this business has changed over the past 20 years, and it will happen again in the next ten. An open mind and a curious attitude are all that’s needed to continue to find new ways to serve our clients by delivering a faster, smoother, worry-free transaction,” says Norm.

In his spare time, Norm enjoys Crossfit and cycling, some years accumulating over 2,000 kilometres on the road. He’s a strong supporter of the Royal LePage Shelter Foundation and enjoys raising funds by joining fun, fitness-related initiatives like the Grouse Grind for Shelter. In 2015, he trekked the Peruvian Andes to Machu Picchu. In 2017 he walked the southern highlands of Iceland across mountains, sand, snow, ice, lava fields and forest for seven days. Collectively those initiatives raised over a million dollars for Canadian women's shelters.
 

Note: We are in the process of bringing this blog home to the TeamFisher.com domain and we have a lot of stuff to move! Another 700 posts can be found at normfisher.com where they'll remain until we can get them moved here.

The Saskatoon Region Association of REALTORS® (SRAR) IDX Reciprocity listings are displayed in accordance with SRAR's MLS® Data Access Agreement and are copyright of the Saskatoon Region Association of REALTORS®.
The above information is from sources deemed reliable but should not be relied upon without independent verification. The information presented here is for general interest only, no guarantees apply.
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