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Saskatoon real estate week in review: November 5-11, 2017

The number of local homes that traded hands through the Saskatoon multiple listing service® bounced back this week with 72 firm deals being processed, an increase of 23 from the previous week. That was enough to top sales for the same period last year by 27 units. The number of new Saskatoon real estate listings in the residential category slipped lower to 161 for a weekly decline of nine homes, matching numbers recorded for the same week last year.


Following six weeks of slow but steady declines, the active listing inventory of Saskatoon homes grew marginally this week to 1910, up seven from last week’s close for an annual gain of just 85 properties. That’s the smallest year-over-year increase to the MLS® since the end of June. The closing number was also low enough to keep it slightly below record levels for the second consecutive week, but just barely. At the close of the same week of 2015 total active residential listings sat at 1917. A closer look by major housing types shows condo inventory sitting at 685 today, up just 11 from a year earlier. The greatest annual gains can be counted in the single-family home category which swelled to 1107 from 984 a year ago.


Slightly softer buying activity at the upper end of the market brought the median sale price of a Saskatoon home lower to $330,000. The weekly average followed along and slipped to $355,511. Meanwhile, the six-week average price took its second consecutive gain, following a pretty solid losing streak that brought it to its lowest point in the past five years. That measure moved higher by seven thousand dollars to reach $337,734 to record an annual loss of roughly eleven thousand dollars. The four-week median price fell lower to $327,500 for a weekly drop of less than 5K. That’s just twenty-five hundred dollars lower than it was a year ago.


Sellers wishing for an overbid offer were disappointed this week and not a single sale was reported to have occurred above the asking price. On the flip side of the negotiating table, 68 of this week’s 72 buyers insisted on some give from the seller to close. Those buyers netted a hefty average discount of $14,046.


Here is a breakdown of what the sales to listing price ration looked like on this week’s sales.



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.
 

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