CONTACT

Saskatoon real estate week in review: October 29 - November 5, 2017

Saskatoon real estate sales fell flat this week dropping from 74 residential units last week to just 49. While well down on the week, that was enough to beat sales for the same week last year by two.

Meanwhile, the number of new listings added to the Saskatoon multiple listing service® grew to 170 from just 132 the week before as many of the listings that expired at the end of October came back on the market for another go. New listings for the week fell short of numbers generated during the same period a year ago when 196 Saskatoon homes were listed for sale.


For the first time since early March of this year, the number of homes listed for sale on the Saskatoon MLS® system fell just short of a record for the week. As of this morning, we have 1903 active residential listings, about 103 fewer than were for sale a week earlier, and up from 1799 a year ago. During this same week in 2016 there were 1916 Saskatoon homes for sale. Today’s totals show 1121 single-family homes, down 58 from a week ago, but up 151 from levels recorded at this time last year. Available condominiums fell to 676 from 712 last week to finish higher on an annual basis by just five.


For the second consecutive week, more high end home buyers showed up and made a purchase. Close to one-third of this week’s sales were reported to have closed above the $450,000 mark pushing all of our price measures higher. The average sale price for the week hit $377,834 and the median price jumped to $349,900. The six-week average price grew nearly five thousand dollars from last week to reach $329,434 but finished way down from the same week last year when it was at $351,569. The four-week median price closed the week at $331,250 for a weekly increase of just more than six thousand dollars. That was enough to put it ahead of the number we recorded at this time last year by $1,250. This is the first week that the four-week median price has shown a year-over-year increase since early June.


One seller managed to close a deal above their asking price this week netting a $5,000 bonus while 41 of the week’s sales went below list by an average of $13,968. There were a number of new home sales where a sale price that well exceeded the asking price was reported. I typically cull these out of the “over-list” sales, as I did this week, but their presence does mess with the sale price to list price ratios in a couple of the major trading areas. The average discounts for each area have those sales stripped out so as not to skew them.


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


Sales to list price ratio of Saskatoon homes sold through the MLS® the week of October 29, 2017


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.
 

Posts By Date
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.
Trademarks are owned and controlled by the Canadian Real Estate Association (CREA). Used under license.
MLS® System data of the Saskatoon Region Association of REALTORS® displayed on this site is refreshed every 2 hours.
Google Analytics Alternative