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Saskatoon real estate week in review: September 18-24, 2016


The number of firms sales reported to the multiple listing service® softened on both a weekly and an annual basis. Saskatoon real estate agents brought in 81 deals, down two from last week to fall short of numbers generated during the same week last year by 15 homes. New listings slipped lower by three from a week ago to 168 which is 35 fewer new listings than were processed over the same period of 2015.


The inventory of active MLS® listings continued to fall and closed the week at 1958, down 29 from the previous week’s close, and lower than where it stood a year ago by 101 properties. Most of the drop can still be attributed to declines in the single-family home inventory which closed the week at 1071, down from 1165 a year ago. Condo inventory continues to record year-over-year increases as it now sits at 721 units, up from 688 at this time last year.


In spite of a sale that came in at $1.2 million, a softening in upper end trades brought the weekly median price down by nearly thirty thousand dollars from last week to $322,900. The average sale price fell less declining just over 10K to $338,092. Meanwhile, both of our longer term measures also slipped lower with the six-week average sale price of a Saskatoon home sliding to $344,934. That’s roughly two thousand lower than it was the previous week and just a thousand dollars above where it sat at the close of the same week last year. The four-week median fell nearly nine grand to settle at $335,000 which is just one hundred and twelve dollars higher than it was a year ago.


A full 25 percent of this week’s deals sold for the full asking price, while just one went for more, that deal netting the seller a $5,100 bonus. Another 61 sales closed for less than the seller’s asking price with a large average discount of $14,974. Area 4 sales saw a huge average discount of $25,560 due to a few small sales that went $40,000 to $45,000 below list.


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.

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