Saskatoon real estate week in review: June 23-29, 2013

On the heels of what turned out to be the busiest week for the sale of Saskatoon houses and condos in more than five years, it happened again. That’s right, this past week stole that honour from the previous week as sales moved higher by just one unit reaching 123 to record an annual increase of 19 homes.

Saskatoon real estate agents also kept busy writing new listings this week. Over the course of the week 156 houses and condos were added to the MLS® inventory, down seven from the previous week to fall below the 158 homes listed during the same week a year ago. This is the first week in ten where new listings actually came in lower than what was recorded the previous year.

Click the image for a larger version of the graph.

New Saskatoon real estate sales & listings (MLS) for June 23-29, 2013

The little inventory bubble that began to grow a few weeks back continued to deflate as the total number of residential listings on the Saskatoon multiple listing service® slid lower by 16 properties this week and settled at 1289. That’s still 70 units higher than levels recorded one year ago but total numbers do seem to be headed lower. Single-family inventory is up 20 units on a year-over-year basis to 770 homes. Meanwhile, condo inventory has grown by 25 homes compared to last year reaching 429.

Click the image for a larger version of the graph.

Active Saskatoon real estate listings on MLS at June 29, 2013

The average sale price of a Saskatoon home moved higher this week to $363,200 while the median price slipped lower to $333,000. The six-week average price inched up a little under five hundred dollars to $351,834 and posted an annual gain of nearly twelve thousand dollars. Meanwhile, the four-week median price held steady on a weekly basis at $320,000 to maintain a year-over-year increase of less then five thousand dollars.

Click the image for a larger version of the graph.

Average & median prices of Saskatoon homes sold MLS from June 23-29, 2013

The number of sales reported to the Saskatoon multiple listing service® with a price that exceeded the seller’s asking price slipped to seven this week. The buyers involved in those transactions paid an extra $4,668 on average to close their deal. Another 100 buyers managed to negotiate a discount averaging $10,412. Meanwhile, 16 transactions closed at the full asking price.

Other MLS® activity this week included 50 cancelled and withdrawn listings, 16 expired listings and 52 price adjustments.

Click the image for a larger version of the chart.

Saskatoon real estate statistics for homes sold thru MLS from June 23-29, 2013

Highlights of a very quiet week for real estate news

Recreational properties in demand – Star Phoenix

A map displaying the boundaries of Saskatoon real estate areas is here.
An overview of data collection and calculation practices for our statistical reports is here.

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.

Our Saskatoon home search tool offers MLS® listings represented by all real estate brands, presented with more detail than you’ll find anywhere else. Check it out here.

Norm Fisher
Royal LePage Saskatoon Real Estate

Saskatoon real estate week in review: June 16-22, 2013

This week brought with it the busiest seven days of local home sales that we’ve seen in years. In fact, not since the housing boom of 2007 have Saskatoon real estate agents reported 121 firm house and condominium sales to the multiple listing service® for a single week. The previous best was pretty close at 120, but over the course of the past five years that number had only been hit once. This week’s numbers exceeded sales for the previous seven days by 20 units to finish ahead of the same week last year by 15 homes.

At the same time, new listings added to the MLS® system slipped lower for the second week in a row to just 163 homes, down 16 from last week but well ahead of the same week last year when 143 properties were introduced to the Saskatoon real estate market. I expect that our peak listing weeks for the year are behind us now and that new offerings to our system will generally trend lower through the balance of the year.

Click the image for a larger version of the graph.

Saskatoon homes sold and listed on MLS for June 16-22, 2013

The past few weeks have brought some sharp, and seasonally unusual increases to the total inventory of active MLS® listings in the residential category. Last week, the number of Saskatoon homes listed for sale reached 1350 for a year-over-year increase of about nine percent. This week, active MLS® listings fell lower for the first time in five weeks slipping back 45 units to close at 1305 for an annual gain of six percent. The week closed with 774 single-family homes in the active category, up roughly 30 properties from a year ago. Condo inventory currently sits at 443, ahead of last year by 32.

Click the image for a larger version of the graph.

5-year history of MLS inventory in Saskatoon (MLS) to June 22, 2013

Greater activity at the upper end of the Saskatoon real estate market pushed the weekly average price and the median sale price higher to $357,326 and $334,900 respectively. Still, the four-week median price managed to continue on a downward trend for the fourth consecutive week falling about three thousand dollars on a weekly basis to $320,089 and finishing up on a year-over-year basis by just two thousand dollars. The six-week average price inched higher compared to last week and reached $351,391 to see an annual increase of roughly eleven thousand dollars.

Click the image for a larger version of the graph.

Median & average prices of Saskatoon homes sold MLS from June 16-22, 2013

Overbid sales took just a bit of an uptick to eight. Those eight buyers closed a deal paying an average bonus of $1,877 to the seller. Another 23 transactions were reported to have sold at the full list price. Meanwhile, 90 of the week’s 121 sales closed with a discount to the buyer which averaged $10,154.

Other MLS® activity this week included 67 cancelled and withdrawn listings, 12 expired listings and 57 price adjustments.

Click the image for a larger version of the chart.

Saskatoon real estate statistics for MLS residential sales from June 16-22, 2013

Highlights from the news this past week

2013 housing sales off to a better start than expected – Financial Post
Home sales bounce back, but a rate test lies ahead – Globe and Mail
Canada’s impending housing crash not in sight – Financial Post
The alarming decline of housing affordability – Globe and Mail
Housing crash won’t hurt Canadian banks at first – Financial Post
Canadians obsessed with real estate, poll suggests – CBC News
Canadian household debt ratio falls – Financial Post
TD Bank to Paul Krugman: You’re wrong about Canada – Globe and Mail

A map displaying the boundaries of Saskatoon real estate areas is here.
An overview of data collection and calculation practices for our statistical reports is here.

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.

Our Saskatoon home search tool offers MLS® listings represented by all real estate brands, presented with more detail than you’ll find anywhere else. Check it out here.

Norm Fisher
Royal LePage Saskatoon Real Estate

Canadian home sales see their biggest monthly increase in two years: CREA

The Canadian Real Estate Association (CREA), released national sales statistics for the month of May, 2013 today. According the CREA, “National sales activity is stable and the market remains balanced.”

Highlights of CREA’s report    

  • National home sales rose 3.6% from April to May.
  • Actual (not seasonally adjusted) activity came in 2.6% below levels in May 2012.
  • The number of newly listed homes was up 1.9% from April to May.
  • The Canadian housing market remains firmly in balanced territory.
  • The national average sale price rose 3.7% on a year-over-year basis in May.
  • The MLS® Home Price Index (HPI) rose 2.3% year-over-year in May.

Read the entire report on Canadian MLS sales for May, 2013.

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

Real estate apps for Google Glass will change the way you see housing

Check this new application for Google Glass, created by a U.S. home search site, Trulia. The app notifies users when they’re near a home that matches their pre-selected home search criteria. It can read written descriptions aloud and allows house hunters to flip through images of the home with a simple swipe on the side of the internet enabled device. If you like the look of what you see, call up some directions and stroll on over. Naturally, the application can quickly connect you to the seller’s agent by phone or email for answers to your questions or to schedule a viewing.

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.

Our Saskatoon home search tool offers MLS® listings represented by all real estate brands, presented with more detail than you’ll find anywhere else. Check it out here.

Norm Fisher
Royal LePage Saskatoon Real Estate

Saskatoon real estate week in review: June 9-15, 2013

Saskatoon real estate sales continued at a brisk pace this week topping 100 sales for the second consecutive week. That’s the first time we’ve seen that happen this year. Local agents reported 101 firm sales of single-family homes and condominiums to the Saskatoon multiple listing service®, down six from the previous week to finish well above sales for the same week last year when just 87 Saskatoon homes were reported sold.

New listings added to the MLS® system cooled from the previous week dropping by 26 homes to 179 beating activity recorded for the same period last year by about 36 homes.

Click the image for a larger version of the graph.

Saskatoon homes sold and listed MLS from June 9-15, 2013

The total inventory of active MLS® listings in the residential category took another solid leap growing by 50 properties from the close of last week to finish at 1350, up from the same time last year by 113 homes. Residential MLS® inventory had closely followed last year’s trail until the third week of May when it took a sudden and sharp upward trend. After four weeks of steady gains it’s not hard to see that similar activity over the next few weeks would move us to the highest levels we’ve seen in five years time, at least for this time of the year. That said, we are just a few weeks away from the time at which inventory numbers typically begin to decline for the balance of the year. Taking a closer look by category, an active listing search of Saskatoon houses produces 793 results, up from 735 at the same time last year. Condo inventory sits at 468 for a year-over-year gain of 40 units.

Click the image for a larger version of the graph.

Total number of residential MLS listings in Saskatoon at June 15, 2013

Even with one sale in the mix that topped $1 million the average sale price of a Saskatoon home stayed pretty close to the bottom of the slide where it found itself last week. The weekly median slipped lower to $317,900. Meanwhile, the six-week average price dropped seven thousand dollars this week to settle at $350,107 for an annual gain of about twelve thousand dollars. The four-week median saw its third consecutive week of declines as it shed nearly twelve thousand dollars this week and slid to $323,000 to finish just three thousand dollars ahead of where it was one year ago, its lowest point since late March.

Click the image for a larger version of the graph.

Average & median prices of Saskatoon homes sold MLS from June 9-15, 2013

The total number of sales reporting a final price that exceeded the seller’s asking price was pretty steady at six. Those buyers offered an additional $1,433 on average. Another 19 sales were reported to have sold at the full listed price. The remaining 76 firm deals that hit the MLS® this week were reported to have sold below the asking price by an average of $11,264. That’s the largest average discount recorded since the second week of April.

Other MLS® activity this week included 54 cancelled and withdrawn listings, 8 expired listings and 65 price adjustments.

Click the image for a larger version of the chart.

Saskatoon real estate statistics for MLS sales from June 9-15, 2013

Highlights from the news this past week

Space tight in Saskatoon – Star Phoenix
Why Canadians are seeing higher interest rates – Globe and Mail
Spring puts bounce back in Canadian house prices – Financial Post
Home prices: Why for most Canadians there’s no need to worry – Globe and Mail
Upbeat new housing numbers could be ‘last hurrah’ – Financial Post
Home prices rise 2%: Crash isn’t forecast but neither are big gains – Globe and Main
Google Glass real estate app promises simpler house hunt – Financial Post

A map displaying the boundaries of Saskatoon real estate areas is here.
An overview of data collection and calculation practices for our statistical reports is here.

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