Saskatoon real estate week in review: February 19-25, 2017

It was another week of up and down activity as Saskatoon real estate sales softened to 52. That’s down from 64 last week and it falls short of numbers posted during the same week a year ago when local agents reported 54 firm residential deal to the multiple listing service®. Still, as February draws nearer to its close, residential sales appear to be on track with last year’s numbers, even as the volume of new listings sees some declines. This week, just 133 listings were added to the inventory. That number is well down from the 156 Saskatoon homes listed the week before, and significantly lower than the 181 properties offered for sale over the same period in 2016. Year-to-date, 1,275 residential properties have been listed for sale on the MLS®. By this time last year, 1,345 new listings had been added to the system.

 

 

Saskatoon residential MLS ® sales and new listings for the week of February 19-25, 2017

 

 

The inventory of residential property listings available to Saskatoon home buyers inched higher this week as it grew to 1721 for a weekly increase of 14 but still fell below levels recorded a year earlier for the third week in a row. At the close of the same week last year, there were 1750 Saskatoon homes showing an active status on the MLS®. As of this morning, there are 894 single-family homes for sale within the city limits, down just marginally from 918 a year ago. Condo inventory sits at 683 which is just seven units above level recorded at this time last year.

 

 

Active residential listings on the Saskatoon MLS® at February 25, 2017

 

 

 

With just three sales processed above the $500,000 mark and strong activity at the market’s entry level, both the weekly median and the weekly average price slid lower to $289,950 and $312,384 respectively. I’ve only tracked these two measures on an actual spreadsheet since the beginning of 2016 but both numbers are as low as they’ve ever been over that period of time. This is partially due to a remarkably strong week for condo sales which came in at 19 units, the majority of which were priced below the mid-value point of this week’s sales. Taking a look over some longer periods, the four-week median price fell six thousand dollars from a week ago to $316,500. The six-week average also fell lower to $335,819, losing about four thousand dollars from a week ago. and roughly five thousand down on a year-over-year basis. It’s also worth noting that once again, both of the longer term measures are at a four-year low for this particular week.

 


Average and median prices for Saskatoon homes sold through the MLS® from February 19-25, 2017


 


Historical six-week average price of Saskatoon homes sold through the MLS® from February 19-25, 2017



Historical four-week median price of Saskatoon homes sold through the MLS for the week of February 19-25, 2017

 

 

If the rumour of “multiple offers” being fairly common at this particular time is true, you wouldn’t know it by looking at overbid sales, which were non-existent in this week’s sales. There were four sellers who reported a property sold at the asking price but all four were new homes, which isn’t that uncommon. Savvy builders tend to know they have to price right at market value. If their product is moving it’s a good sign that they’re doing it right. Meanwhile, 48 of this week’s 52 sales closed below the seller’s list price netting average discounts of $11,998. 

 


Saskatoon real estate statistics for residential MLS® sales from February 19-25, 2017


 

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

Saskatoon real estate week in review: February 19-25, 2017

It was another week of up and down activity as Saskatoon real estate sales softened to 52. That’s down from 64 last week and it falls short of numbers posted during the same week a year ago when local agents reported 54 firm residential deal to the multiple listing service®. Still, as February draws nearer to its close, residential sales appear to be on track with last year’s numbers, even as the volume of new listings sees some declines. This week, just 133 listings were added to the inventory. That number is well down from the 156 Saskatoon homes listed the week before, and significantly lower than the 181 properties offered for sale over the same period in 2016. Year-to-date, 1,275 residential properties have been listed for sale on the MLS®. By this time last year, 1,345 new listings had been added to the system.

 

 

Saskatoon residential MLS ® sales and new listings for the week of February 19-25, 2017

 

 

The inventory of residential property listings available to Saskatoon home buyers inched higher this week as it grew to 1721 for a weekly increase of 14 but still fell below levels recorded a year earlier for the third week in a row. At the close of the same week last year, there were 1750 Saskatoon homes showing an active status on the MLS®. As of this morning, there are 894 single-family homes for sale within the city limits, down just marginally from 918 a year ago. Condo inventory sits at 683 which is just seven units above level recorded at this time last year.

 

 

Active residential listings on the Saskatoon MLS® at February 25, 2017

 

 

 

With just three sales processed above the $500,000 mark and strong activity at the market’s entry level, both the weekly median and the weekly average price slid lower to $289,950 and $312,384 respectively. I’ve only tracked these two measures on an actual spreadsheet since the beginning of 2016 but both numbers are as low as they’ve ever been over that period of time. This is partially due to a remarkably strong week for condo sales which came in at 19 units, the majority of which were priced below the mid-value point of this week’s sales. Taking a look over some longer periods, the four-week median price fell six thousand dollars from a week ago to $316,500. The six-week average also fell lower to $335,819, losing about four thousand dollars from a week ago. and roughly five thousand down on a year-over-year basis. It’s also worth noting that once again, both of the longer term measures are at a four-year low for this particular week.

 


Average and median prices for Saskatoon homes sold through the MLS® from February 19-25, 2017


 


Historical six-week average price of Saskatoon homes sold through the MLS® from February 19-25, 2017



Historical four-week median price of Saskatoon homes sold through the MLS for the week of February 19-25, 2017

 

 

If the rumour of “multiple offers” being fairly common at this particular time is true, you wouldn’t know it by looking at overbid sales, which were non-existent in this week’s sales. There were four sellers who reported a property sold at the asking price but all four were new homes, which isn’t that uncommon. Savvy builders tend to know they have to price right at market value. If their product is moving it’s a good sign that they’re doing it right. Meanwhile, 48 of this week’s 52 sales closed below the seller’s list price netting average discounts of $11,998. 

 


Saskatoon real estate statistics for residential MLS® sales from February 19-25, 2017


 

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

Saskatoon real estate week in review: February 12-18, 2017

The Saskatoon housing market produced its strongest weekly sales numbers for the 2017 calendar year as local real estate agents reported 66 firm residential sales to the multiple listing service®, up from 52 last week for an annual increase of 14 home sales. The number of new listings added to the system remained steady compared to the week before at 156 but finished well ahead of the 130 Saskatoon homes that were added to the MLS® system over the same period last year.

 


Saskatoon residential MLS ® sales and new listings for the week of February 12-18, 2017


 

The total number of active listings available through the MLS® continued to make weekly gains as it grew by 38 units to reach 1707 homes and closed the week slightly down from levels recorded a year ago. At that time, there were 1715 residential properties showing an active status on the system. Today’s totals include 874 single-family homes. That’s 36 fewer houses than were available at the close of the same week last year. Of course, we also have 682 condos for sale across all Saskatoon neighbourhoods. That puts us ahead of last year’s levels by 35 units.

 


Active residential listings on the Saskatoon MLS® at February 18, 2017


 

Strong activity at entry levels ushered the weekly median price of a Saskatoon home lower to $316,200. Still, with more than ten percent of the week’s sales topping $500,000 and one sale reaching nearly a half a million dollars, the weekly average made some modest gains and reached $340,663. Meanwhile, the six-week average price grew by just a few hundred dollars from last week to close at $339,831. That’s down just two thousand dollars from where it stood a year ago but still at its lowest point for this particular week since 2013. The four-week median price also edged lower compared to last week. It finished the period at $322,500 which is down $7500 from a year earlier, and also its worst performance during this week in four year’s time.

 

 

Average and median prices for Saskatoon homes sold through the MLS® from February 12-18, 2017

 

Historical six-week average price of Saskatoon homes sold through the MLS® from February 12-18, 2017

 

Historical four-week median price of Saskatoon homes sold through the MLS for the week of February 12-18, 2017

 

 

Like the previous week, only one seller found a buyer willing to outbid someone else who also wanted their home, but this buyer went big offering $26,100 more than the asking price. Four others generously offered to pay the full asking price. The remaining 61 buyers pushed for a discount and netted an average saving of $12,422.

 


Saskatoon real estate statistics for residential MLS® sales from February 12-18, 2017


 

I’m always happy to answer your Saskatoon real estate questions.  Please feel free to call or text at 306-241-6676 or email me at norm@teamfisher.com.

 

Norm Fisher

Royal LePage Vidorra

Saskatoon real estate week in review: February 12-18, 2017

The Saskatoon housing market produced its strongest weekly sales numbers for the 2017 calendar year as local real estate agents reported 66 firm residential sales to the multiple listing service®, up from 52 last week for an annual increase of 14 home sales. The number of new listings added to the system remained steady compared to the week before at 156 but finished well ahead of the 130 Saskatoon homes that were added to the MLS® system over the same period last year.

 


Saskatoon residential MLS ® sales and new listings for the week of February 12-18, 2017


 

The total number of active listings available through the MLS® continued to make weekly gains as it grew by 38 units to reach 1707 homes and closed the week slightly down from levels recorded a year ago. At that time, there were 1715 residential properties showing an active status on the system. Today’s totals include 874 single-family homes. That’s 36 fewer houses than were available at the close of the same week last year. Of course, we also have 682 condos for sale across all Saskatoon neighbourhoods. That puts us ahead of last year’s levels by 35 units.

 


Active residential listings on the Saskatoon MLS® at February 18, 2017


 

Strong activity at entry levels ushered the weekly median price of a Saskatoon home lower to $316,200. Still, with more than ten percent of the week’s sales topping $500,000 and one sale reaching nearly a half a million dollars, the weekly average made some modest gains and reached $340,663. Meanwhile, the six-week average price grew by just a few hundred dollars from last week to close at $339,831. That’s down just two thousand dollars from where it stood a year ago but still at its lowest point for this particular week since 2013. The four-week median price also edged lower compared to last week. It finished the period at $322,500 which is down $7500 from a year earlier, and also its worst performance during this week in four year’s time.

 

 

Average and median prices for Saskatoon homes sold through the MLS® from February 12-18, 2017

 

Historical six-week average price of Saskatoon homes sold through the MLS® from February 12-18, 2017

 

Historical four-week median price of Saskatoon homes sold through the MLS for the week of February 12-18, 2017

 

 

Like the previous week, only one seller found a buyer willing to outbid someone else who also wanted their home, but this buyer went big offering $26,100 more than the asking price. Four others generously offered to pay the full asking price. The remaining 61 buyers pushed for a discount and netted an average saving of $12,422.

 


Saskatoon real estate statistics for residential MLS® sales from February 12-18, 2017


 

I’m always happy to answer your Saskatoon real estate questions.  Please feel free to call or text at 306-241-6676 or email me at norm@teamfisher.com.

 

Norm Fisher

Royal LePage Vidorra

Canadian home sales edge lower in January, 2017: CREA

The Canadian Real Estate Association (CREA), released national sales statistics for the month of January, 2017 this week. According to the CREA, “National home sales were down slightly in January 2017 on a month-over-month basis.

 

Home sales over Canadian MLS® Systems edged down by 1.3% month-over-month in January 2017, putting them at the second lowest monthly level since the fall of 2015 and only slightly above levels recorded last November when recently tightened mortgage regulations came into effect.

 

Highlights of CREA’s report

  • National home sales declined 1.3% from December 2016 to January 2017.
  • Actual (not seasonally adjusted) activity in January was up 1.9% from a year earlier.
  • The number of newly listed homes dropped 6.7% from December 2016 to January 2017.
  • The MLS® Home Price Index (HPI) in January was up 15.0% year-over-year (y-o-y).
  • The national average sale price was little changed (+0.2%) y-o-y in January.

 

Read the entire report on Canadian MLS® sales for January, 2017.

 

I’m always happy to answer your Saskatoon real estate questions.  All of my contact info is behind the contact button on the navigation bar at the top of this page. Please feel free to call or email.

 

Norm Fisher

Royal LePage Vidorra