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Saskatoon real estate week in review: September 8-14, 2013

On the heels of one the slowest sales week since late February, the Saskatoon real estate market bounced back to record 90 house and condo sales this week. That’s an increase of 23 homes over the previous week and a year-over-year gain of just two properties.


New MLS® listings came on the market at a faster pace as 178 Saskatoon home sellers offered their home for sale on the Saskatoon multiple listing service®, eclipsing last week’s strong numbers by two dozen and finishing ahead of the same week last year by 26 listings.


After slipping slightly for two consecutive weeks, the total inventory of MLS® listings available to Saskatoon home buyers changed directions and increased by 20 units to 1362, closing higher compared to the same week last year by roughly 14 percent or 162 homes. A closer look, by category, shows 851 single-family homes (houses) and 415 condominiums displaying an active status on the Saskatoon MLS®. At this time last year, there were 741 houses and 388 condos for sale on the MLS®.


A little more activity at the upper end of the Saskatoon real estate market brought the average sale price of a home higher by more than thirty thousand to $353,711. The median price of a Saskatoon home recovered a good portion of the huge drop it saw last week and finished the week at $336,500. Following along, the six-week average price of a Saskatoon home moved higher by seven thousand dollars to reach $342,845 but showed a year-over-year decline of nearly three thousand dollars. The four-week median price moved in the opposite direction slipping lower by about fifteen hundred dollars to close the week at $333,000. That’s an increase of eight thousand dollars when compared against sales that closed during the same week last year..


Overbid sales cooled slightly as just three local home buyers offered a price that exceeded the seller’s asking price. The average overbid was much higher than we’ve seen recently at $11,900. That number was largely impacted by one sale that was recorded at $35,000 more than the asking price.


Other MLS® activity this week included 85 cancelled and withdrawn listings, many of which flowed back on the market as a “new listing” contributing to the bloated number we saw in that category, just three expired listing and 53 price adjustments.


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.


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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.

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