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Saskatoon real estate week in review: October 25-31, 2015

Happy Halloween!


Up against an unusually strong week for the same period last year, Saskatoon real estate sales fell substantially lower this week to just 63 homes, down from 109 last year, for a weekly decline of 14. New listings moved in the opposite direction growing by ten when compared to the same week a year ago to reach 167, for a weekly gain of 17.


In spite of weaker sales and higher levels of new listings, inventory saw modest declines as 50 listings expired without a sale and came off of the MLS® system. The total number of residential listings on the Saskatoon multiple listing service® sits at 1962 this morning, its lowest point since mid May. Still, that’s just 20 fewer than there were a week ago, and 448 more homes than were available a year ago. Single-family homes inventory sits at 1130 today, down just five from last week’s close, and up from 911 on this date a year ago. Condo inventory slips from 672 last week to 661 today for an annual increase of 208 units. Another 66 listings will expire over the weekend, most likely bringing totals just below 1900 for the first time since the middle of April when it sat at 1869. Thats said, listing have increased during the first week of the month in each of the last four months as sellers rushed to get there listing active again.


The average sale price of a Saskatoon home pushed slightly higher to $346,982 this week, even as more activity in the lower half of the Saskatoon real estate market brought the median sale price lower by fifty-one hundred dollars to $329,900. Meanwhile, the six-week average price fell by just under two thousand dollars from last week to $347,442 for a year-over-year decline of $12,500. The four-week median price inched up five hundred dollars from a week ago to finish the week at $345,000 for a loss of $5,000 from where it stood a year ago.


Overbid sales fell fairly flat as just three buyers found themselves writing an offer that came in above the seller’s asking price. The average overbid amounted to just $767. On the other had, 55 buyers found a seller willing to settle for a discounted sale price which averaged $11,430. Another five sales closed at the full asking price.


Other notable real estate activity this past week included 91 cancelled and withdrawn listings (81 and 10 respectively), 50 expired listings and 99 price changes.


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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®.
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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