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Saskatoon real estate week in review: September 10-16, 2017

The number of Saskatoon homes that traded through the local MLS® system fell by three on a week-over-week basis to 53, down 30 sales when compared against firm residential sales for the same week last year. This is the fifth consecutive week during which sales fell year-over-year. Meanwhile, the number of new residential listings that were added to the multiple listing service® grew to 188, up from 167 last week, and beating numbers posted during the same week last year by 11.


On the heels of a three-week retreat that brought active residential listings eight percent below their annual peak, numbers inched higher again and reached 2127, up 23 from last week’s close, leaving us with 147 more Saskatoon homes than could be found on the MLS® a year earlier. Today’s totals include 1227 single-family homes, up from 1091 at the close of the same week last year. Condo inventory stayed stable compared to a week earlier. There are currently 788 for sale on the system, up from 723 a year ago.


With an unusually high mix of upper-end sales and a pretty sparse showing of trades below 200K, the average sale price of a Saskatoon home spiked to its highest point this year, $395,375, even as the weekly median price declined to $340,000. The six-week average price took some gains for the second week in a row to finish at $344,953. That’s down just two thousand dollars from where it was at the close of the same week last year. The four-week median price slipped lower losing two thousand dollars on the week to settle at $338,000 for a year-over-year loss of six thousand dollars.


Once again, there were no sales recorded at a price above the seller’s list price, but five deals did go through at full price. The remaining 48 sales closed below the asking price and netted those buyers an average discount of $14,556, a figure that is somewhat skewed by large dollar discounts on the big stuff that traded hands this week.


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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