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Saskatoon real estate week in review: November 20-26, 2016


Saskatoon real estate sales continued to soften this week, as anyone familiar with the seasonal trends of home sales would expect. Local REALTORS® reported 54 firm sales to the multiple listing service® this week, down 15 from 64 last week, Sales are also down by six sales when compared against the same period last year. The number of new Saskatoon real estate listings added to the MLS® declined to 122, a fairly big slide from last week when 155 new listings were added, and down from the same week last year by just three. Once again, these kinds of declines are typical for the season and we can expect the numbers to soften a bit each week through December as unit sales and new listings produce some of their smallest numbers that we’ll see all year.


The total inventory of residential MLS® listings slipped lower for the first time in three weeks. Most interesting is the fact that the year-over-year declines that we’ve been experiencing since late August are continuing to narrow and are now pretty skinny. Numbers were falling rapidly last year at this time so a couple of weeks of growth has really narrowed the divide. Today, Saskatoon home buyers can find 1806 properties for sale, down from 1830 a week earlier. Last year at this time there were 1858 Saskatoon homes for sale. The single-family homes category fell lower by seven from a week ago to finish down from last year’s number by 58. Meanwhile, condo inventory slipped by eight to close the week above levels recorded at the end of the same week last year by 34.


With fewer upper-end sales in the mix this week the median price and the average price for the period slipped fairly significantly to $330,000 and $329,239 respectively. Both of the longer-term measures slipped lower as well, but fairly marginally. The six-week average shed twenty-five hundred dollars to settle at $344,116 for an annual drop approaching nine thousand dollars. This is as low as the six-week average has been since late April and it’s trending lower pretty consistently for six weeks now. After peaking at its annual high of $345,000 last week, the four-week median price also came down to $340,500 to find itself down eight thousand dollars from where it stood a year ago.


After two weeks of no above list price sales, the streak was broken by one very modest overbid of a hundred bucks on an area five home. While five sellers managed to seal the deal on a full-price sale, 48 others gave up some dough at the negotiating table and netted their buyer an average discount of $12,608.


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.

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