CONTACT

Saskatoon real estate week in review: November 13-19, 2016


Following two weeks of pretty soft residential sales Saskatoon real estate activity bounced back this week. Local agents reported 69 firm sales to the MLS®, up from 45 last week, but down six when compared against activity for the same period last year. New listing activity slipped slightly lower to 155, a drop of six from last week, still enough to finish ahead of last year by a dozen listings.


The number of active MLS listings in the residential category grew again for the second consecutive week. Total listings come in at 1830 today, up just five from a week ago. Inventory was headed downward in a hurry at this time last year so this year’s levels are closer to last year’s than they have been in more than two months. We have just 55 fewer listings than could be found on the system a year ago. Single-family homes sit at 987, down from 1069 last year while condo listings reached 670 for a year-over-year increase of 33 units.


Higher-end home sales dominated this week and that pushed the weekly median price up about 18K compared to last week as it reached $362,900. The weekly average also bolted higher to $371,002 largely driven upwards by two sales that topped the $1 million mark. Those two sales bring our total for 2016 to 16, a new record for sales exceeding a million bucks. The four-week median price took some sharp gains this week growing by about fifteen thousand dollars to $345,000 which is down five thousand dollars from a year ago, but as high as it has been at any point this year. The six-week average price grew by a few hundred dollars to hit $346,628 for an annual loss of nine thousand dollars.


For the second consecutive week, there were no Saskatoon home sellers who got an above list price sale though seven did find a buyer willing to pay full pop. The other 62 deals went for less than the asking price netting an average discount of $16,502. That average was very much skewed by huge discounts on the three highest-priced home sales which collectively dropped about $250K below their combined asking price.


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.
 

Posts By Date
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.
Trademarks are owned and controlled by the Canadian Real Estate Association (CREA). Used under license.
MLS® System data of the Saskatoon Region Association of REALTORS® displayed on this site is refreshed every 2 hours.
Google Analytics Alternative