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Saskatoon real estate week in review: October 19-25, 2014


Saskatoon real estate market saw sales remain flat on a weekly basis, while they slipped lower compared against last year’s numbers. Local agents reported just 81 firm house and condo sales to the Saskatoon multiple listing service® this week for a gain of just one on last week’s totalsto finish seven units lower than the numbers recorded for the same week a year ago.


Meanwhile, the number of new listings added to the MLS® system grew, on a weekly an annual basis. REALTORS® added 153 houses and condos to the system this week, up 16 homes from the previous week and way ahead of the same week a year ago when only 110 properties hit the market.


The total inventory of active residential listings saw gains for the second week in a row at a time of year when they can almost always be counted on to fall. The number of homes displaying an active status on the MLS® system grew by 18 over the course of the week to reach 1561 for annual growth of 188 Saskatoon homes. Today’s totals show 1107 single-family homes and 454 condos being offered for sale, up on an annual basis from 859 and 415, respectively.


The average price paid for a Saskatoon home this week slid lower to $338,833. At the same time, the longer term measures both made gains led by the six-week average price which grew by nearly five thousand dollars this week to reach $358,211 for a year-over-year increase of roughly six thousand dollars. The four-week median price inched higher increasing by twenty-five hundred dollars compared to last week’s close leaving it down on an annual basis by just a bit more than 10K.


Two buyers offered to pay their seller a bonus above the asking price that averaged $18,601. That number was skewed higher by one particularly generous overbid that topped $30,000. Another 65 buyers made off with a discount averaging $11,596. Another 14 deals closed at the full asking price.


Other notable real estate activity this past week included 60 cancelled and withdrawn listings (53 and seven respectively), 20 expired listings and 63 price changes.

Highlights from the news this week

Real risk to housing markets is ‘constrained liquidity’ - The Toronto Star

Interest rates to remain low and hold longer - CREA News

Moody’s warns on housing market - GlobeAdvisor


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 Saskatoon Real Estate

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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