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Saskatoon real estate week in review: October 28 - November 3, 2012

The Saskatoon real estate market continued to show signs of life this week even as the weather cooled. Local agents brought 68 firm house and condominium sales to the multiple listing service® . That number is down eight units from the previous week and up seven sales when compared against the same week last year. Meanwhile, new listings continued to show signs of slowing for the winter. Just 98 properties were offered up for sale on the system this week.


A good handful of MLS®  listings which expired at the end of October brought the inventory of residential real estate listings on the Saskatoon multiple listing service® below 1100 for the first time since April of this year. As the week drew to a close buyers had a total of 1092 active property listings to choose from, down just 24 from last week’s close and below last year’s totals by 69 homes. Today’s search of Saskatoon homes for sale yields 662 houses and 351 condos showing an active status. Lat year at this time those two categories of Saskatoon housing sat at 698 and 390 respectively.


The median sale price (price point at which half of all sales eclipsed, and the other half fell below) of a Saskatoon homes spiked nearly 45K to $346,000. The average sale price followed along moving higher than the previous week by forty thousand dollars to close at $359,622. The six-week average sale price saw its largest increase in months as it surged higher by more than ten thousand dollars to reach $336,569, up from $325,972 a year ago. The four-week median price inched up gaining two thousand dollars over the week to hit $323,200. That’s up about twelve thousand dollars from the close of the same week last year.


After two weeks without a single overbid sale, this rare beast made a bit of a comeback as six Saskatoon home sellers netted a higher sale price than they had been asking by an average of  $5,467. Another 13 buyers offered full asking price for the home that they bought while 50 of this week’s sales wrapped up at the negotiating table and netted the buyer an average discount of $8,198.


Other notable MLS® activity this week included 33 cancelled and withdrawn listings, 62 expired listings and 32 price adjustments.


Highlights from the news this past week

How house prices depend on demographics - Financial Post

Using your home as a nest egg is risky business: BMO - Globe and Mail

House flippers beware: You can’t always sell your residence tax free - Globe and Mail

Buffet bets on housing recovery - Star Phoenix

Dundee bets on Canada’s housing market with new deal - Financial Post

Canada’s housing market: Is it cooling or crashing - MacLean’s

Buffet teams up with Brookfield on huge bet on US housing - Financial Post

More employment records set in Sask in October - Gov’t of Saskatchewan


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®.
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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