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Saskatoon real estate week in review: September 7-13, 2014


Saskatoon real estate agents had a busy week with a seasonally appropriate number of sales and an insanely brisk flow of new listings being added to the MLS® system. A total of 98 house and condo sales were processed over the course of the week, up 30 from last week and ahead of the same period last year by eight sales.


New MLS® listings numbersspiked higher than the previous week by 52 homes as local agents brought a total of 218 house and condo listings to the system for an increase of 40 when compared against the same week last year.


Given the disparity between the number of sales and new listings that came onto the system it should come as no surprise that the inventory of MLS® listings available to Saskatoon home buyers spiked again and reached 1593 to come very close to hitting a new peak for 2014. Currently, there are 994 single-family homes for sale in Saskatoon, up from 815 a year ago. Condo inventory sits at 472, ahead of where it was at this time last year when it sat at 415 units.


With 13 sales below 200K in the mix both the average price and the median price of a Saskatoon home both slipped lower to $346,354 and $340,950 respectively. The six-week average price followed in the same direction as it shed a little more than five thousand dollars when compared against last week to finish at $352,078. That amounts to a year-over-year increase of nearly nine thousand dollars. The four-week median price remained steady on a weekly basis at $337,500 to finish the week just marginally higher than it did a year ago when it was $333,000. Note that both the six-week average and the four-week median are back to about where they were in the middle of May before the typical spring run up began.


Overbid activity grew to three homes with an average bonus of $3,434 being paid to the seller. Another 12 deals closed at the full asking price while 83 buyers made off with a discount averaging $8,077.


Other notable real estate activity this past week included 77 cancelled and withdrawn listings (73 and 4 respectively), 22 expired listings and 65 price changes.

Highlights from the news this week

BMO offers 2.99 percent mortgage rate, again - Star Phoenix
Fewer Saskatoon businesses expect to hire in Q4/2014 - Star Phoenix
Thinking about a move up buy? New study says you can’t afford it - Financial Post
Housing starts data underscores east/west wealth divide - BNN
CMHC could force banks to pay mortgage insurance deductibles - Financial Post
Move up market takes a hit as prices swell- Globe and Mail


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 Saskatoon Real Estate

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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