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Saskatoon real estate week in review: November 30 - December 6, 2014

Saskatoon real estate sales took a typical December dip falling by twenty units on a weekly basis to just 63, still enough to claim an annual increase of almost as much (19). I’ve been watching the numbers with a greater level of interest on the total sales for the year, which now sit at 4376, well ahead of last year’s total sales of 4215, and quickly closing on our previous record year for unit sales in 2007 when a total of 4448 Saskatoon homes traded hands. I’m now prepared to call this one in favour of 2014, a year in which Saskatoon will see its highest number of homes sold through the MLS®.


New listings continued at more of a sluggish pace, also typical for December. Listing a house is likely the last thing on one’s mind. Only the most serious of sellers are going to start that effort in December. Saskatoon real estate agents brought 108 new listings in, up four from last week, precisely even with the numbers generated during the same week last year.


The inventory of active listings available for purchase on the Saskatoon MLS® system took another sharp decline, this one being the largest drop that we’ve seen for any week in more than a year, as month end expired listings came out of the system. Totals slipped lower by 87 homes compared to the close of the previous week to finish with 1410 active listings, up about 225 from the same time last year. Single-family homes are at 816 today, up from 737 at this time last year. Condo inventory remains quite high at 443, about one hundred units more than could be found on the system at this time in 2013.


A bit more action at the upper end of the Saskatoon real estate market saw the median sale price of a home gain some ground as it edged up about five thousand dollars to $339,500. The average price paid for a Saskatoon home picked up just slightly more to finish the week at $353,394. The longer term measures both headed in the other direction as the six-week average price fell by more than nine grand to $361,166 for a year-over-year increase of about 14K. The four-week median lost just one hundred dollars to $349,900 closing thirty thousand ahead of where it was at the close of this week last year.


Just one lucky seller closed on an offer that was for more than their asking price and the bonus was small at just $200. On the opposite side of the negotiating table, 55 buyers made off with an average discount of $9,751. Seven others paid full price to close their deal.


Other notable real estate activity this past week included 70 cancelled and withdrawn listings (62 and eight respectively), 61 expired listings and 30 price changes.

Highlights from the news this week

Ten ways to increase your home’s value - Globe and Mail

Saskatoon housing sales top $2 billion - CBC News


A map displaying the boundaries of Saskatoon real estate areas is here.


An overview of data collection and calculation practices for our statistical reports is here.


Get the most current market intelligence with our FREE Market Snapshot including prices of homes recently sold in your area. Get it here, now.


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®.
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