Saskatoon real estate week in review: December 22-28, 2013

Saskatoon real estate agents had another quiet week as expected at this time of year. With just two business days to count, a total of 30 houses and condos were reported having been firmly sold, down 14 from the previous week, and just one sale fewer than we saw during the same week a year ago. One other notable happening from this week’s activity was that the total number of residential sales for the year moved ahead of the closing numbers for 2012, making this year the second busiest for the number of homes sold in Saskatoon’s history.

The number of new MLS® listings remained steady on a week-over-week basis as local agents added 62 properties to the Saskatoon multiple listing service®, well ahead of the 26 Saskatoon homes that were offered for sale during the same week last year.

Click the image for a larger version of the graph.

Saskatoon homes sold and listed on MLS® from December 22-28, 2013

The total number of residential properties listed for sale on the Saskatoon MLS® continued to trend lower as the week closed with 33 fewer units than we had at the end of last week. Today’s total sits at 1125 for a year-over-year increase of 190 Saskatoon homes. The close of this month may see those numbers fall lower as 110 of our active listings are set to expire in the next week, provided they’re not sold or extended for a longer period of time. Taking a closer look by property type, today’s buyers can find a selection of 681 single-family homes, up from 567 at this time last year, and 344 condominiums, up from 274 a year ago.

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Active Saskatoon real estate listings on MLS® at December 28, 2013

The average sale price of a Saskatoon home surged higher this week, skewed by one sale that was processed at just under $1.5 million dollars. That sale pushed the average very close to $375,000. At the same time, a bit more activity in the entry level market saw the weekly median price slip fifteen thousand dollars to $310,000. Still, the six-week average sale price of a Saskatoon home continued to trend lower as it dropped for the sixth week in a row to $336,835. That’s almost eight thousand dollars lower than it was for the same week last year. Meanwhile, the four-week median price managed to gain about 5K on the week to close at $330,900 for an annual loss of $5,600.

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Average and median prices for Saskatoon homes sold MLS® from December 22-28, 2013

Two eager buyers made an offer above the seller’s asking price this week with an average overbid of just $325. Another four offered the full asking price to close the deal. Meanwhile, 24 of this week’s 30 sales recorded a sale price that was below the list price. The average discount on those sales was $12,888.

Other notable MLS® activity this week included just 4 cancelled and withdrawn listings, 23 expired listings and 7 price adjustments.

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Saskatoon real estate statistics for MLS® sales from December 22-28, 2013

As we close this final full week of 2013 we’d like to say thanks again for making our website your top source for Saskatoon real estate information. On behalf of our whole team we wish you the very best for 2014. Happy New Year!

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

Greater Saskatoon population tops 300,000: Saskatoon Chamber of Commerce

Today on our Facebook page, we discuss the rapidly growing population of greater Saskatoon and how it’s affecting our city and its residents. Let us know how you feel.

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

Saskatoon real estate week in review: December 15-21, 2013

The number of homes sold remained stable this week, even as the holidays drew nearer. Saskatoon real estate agents reported 44 firm house and condo sales to the Saskatoon multiple listing service®, two more than were sold the previous week and ten fewer than the total number traded during the same week last year.

The number of new MLS® listings (condos and houses) moved in the same direction slipping to its lowest level for any week this year. Saskatoon real estate agents added 62 listings to the local MLS® this week, down 33 from last week. Once again, new listings were higher than they were during the same week last year (47) as they have been for 19 of the past 21 weeks.

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Saskatoon homes sold and listed MLS® from December 15-21, 2013

The total inventory of MLS® listings in the residential category shed some numbers and moved lower by 50 units to reach 1158, its lowest level since the week of May 4, but well ahead of totals for this date last year when just 951 Saskatoon homes were offered for sale on the multiple listing service®. The number of single-family homes bearing an active status slipped to 707 from 740 last week while condo inventory remained steady at 351. Last year at this time, Saskatoon home buyers had just 579 houses and 275 condos to choose from.

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Active residential listings on the Saskatoom MLS® at December 21, 2013

With only one reported sale over the $500,000 mark both of the weekly measures took a dive. The average sale price of a Saskatoon home slipped to just $316,577 while the weekly median price fell to $325,500. The longer-term measures went in opposite directions as the six-week average slipped lower from the previous week by a little more than four thousand dollars to settle at $342,444 and finished lower than it did for the same week last year by nine thousand dollars. Meanwhile, the four-week median price edged higher by six thousand dollars compared to last week. That wasn’t enough to keep it from falling short of the levels we saw during the same week of 2012 when the four-week median price of a Saskatoon home was fourteen thousand dollars higher.

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Average & median prices of Saskatoon homes sold MLS® December 15-21, 2013

Overbid sales were non-existent in this week’s sales, to the best of my recollection, for the first time this year. In fact, only two lucky sellers managed to find a buyer willing to pay their asking price. Buyers definitely had the upper hand as 42 of this week’s 44 sales closed at a price that was below the seller’s list price by an average of $8,747.

Other notable MLS® activity this week included 27 cancelled and withdrawn listings, 32 expired listings and just 13 price adjustments.

Click the image for a larger version of the chart.

Saskatoon real estate statistics for MLS sales, December 15-21, 2013

Highlights from the news this past week

Women the new wildcard in the condo market – Financial Post
Housing market defies expectations with latest CREA figures – Globe and Mail
CMHC draws a line under condo bubble fears – Financial Post
Canadian housing sales show surprising resiliency – 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

Average price of Canadian homes up again in November 2013: CREA

The Canadian Real Estate Association (CREA), released national sales statistics for the month of November, 2013 recently. According to the CREA, the average price of a Canadian home rose sharply (9.8 percent) on a year-over-year basis, even as sales remained flat on a monthly basis. Home prices were up in over two-thirds of Canadian markets with supply being the key variable.

Annual price gains were more modest when looking at the MLS® Home Price Index, which is supposed to take more of an “apples to apples” approach. That index shows price rising by 4.1 percent in Canada, and by 3.9 percent here at home in Saskatoon.

Highlights of CREA’s report    

  • National home sales edged 0.1% lower from October to November.
  • Actual (not seasonally adjusted) activity was 5.9% above November 2012 levels.
  • The number of newly listed homes rose 1.8% from October to November.
  • The Canadian housing market remains in balanced territory.
  • The MLS® Home Price Index (HPI) rose 4.1% year-over-year in November.

Read the entire report on Canadian MLS® sales for November, 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

Saskatoon council approves key strategies of Neighbourhood Level Infill Development Strategy

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