Saskatoon real estate week in review for August 12-18, 2018

In last week’s Saskatoon real estate week in review, I described sales numbers as having seemingly fallen off a cliff. Apparently, we had not yet reached the bottom of that cliff. This past week, residential sale numbers fell a little further, from 63 the week before to just 51. That’s lower than sales for the same period last year by 21.

After an exceptional July which produced a 25 percent sales increase over the previous year, August seems determined to give up a good chunk of those gains. At this point in the month, we’re about 15 percent behind where we were by this time last August.

While not much exciting was happening on the sales front. Saskatoon real estate agents were kept busy bringing new listings to the MLS® system. Over the course of the week, 182 residential properties were added to the database of the multiple listing service®, up 45 from last week, but about even when compared to the same period of August last year.

Given the large gap between sales and new listings, the inventory of Saskatoon homes for sale on the MLS® grew by 23 this week to reach 2045. That’s down 208 properties from where it stood a year ago. The number of available detached homes climbed 20 from last week to 1137 but still finished lower than last year’s numbers by 145. Meanwhile, the number of condominiums for sale grew by nine from a week earlier and reached 783 for an annual drop of 82 units.

Area four (West from Idylwyld to Circle Drive) failed to record a single sale this week. Off the top of my head, I can’t recall another time that that has happened in any of the major areas as long as I’ve been writing this weekly review. Absent any sales numbers for that area, both the weekly median and the weekly average price grew by around $20,000 to $340,000 and $358,616 respectively. The six-week average price of a Saskatoon home took some modest gains and increased by about fourteen hundred dollars from a week earlier to close the week at $338,833. That’s about where it stood a year earlier. The four-week median price slid lower by about $4000 and finished the week at $321,000 finding itself down ten thousand dollars from a year ago.

Three sellers managed to complete a sale at their asking price this week. The remaining 48 sales all went for less than the seller’s listed price and netted those buyers an average discount of $12,048.

Here is a breakdown of what the sales to listing price ratio looked like on this week’s sales. Please note that those sales that do show a sale price that is greater than the list price are all new properties that spent some period of time on the market, and most likely included additional improvements that were not reflected in the original list price. We report these to you as “at list price sales”, which is likely too generous in some cases, but it’s simply not practical to obtain the full details of each sale.

More weekly stats and numbers for those who love them.

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

Canadian homes sales grow for third consecutive month in July of 2018: CREA

The Canadian Real Estate Association (CREA), released national sales statistics for July of 2018 today.

According to the report, “Statistics released today by The Canadian Real Estate Association (CREA) show national home sales were up from June to July 2018. National home sales via Canadian MLS® Systems rose 1.9% in July 2018, building on increases in each of the two previous months but still running below levels recorded from mid-2013 to the end of last year.

Highlights of CREA’s report

  • National home sales rose 1.9% from June to July.
  • Actual (not seasonally adjusted) activity was down 1.3% from July 2017.
  • The number of newly listed homes edged down 1.2% from June to July.
  • The MLS® Home Price Index (HPI) in July was up 2.1% year-over-year (y-o-y).
  • The national average sale price edged up 1% y-o-y.

Read the entire report on Canadian MLS® sales for July of 2018.

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

Welcome to #505 -157 2nd Avenue North, Central Business District, Saskatoon, SK

Welcome to #505-157 2nd Avenue North in the Central Business District area of Saskatoon.

Offered at $419,900 MLS®

View full listing detailshere.

Return home to a world of convenience, security and luxury offered in this top-floor, corner condo at the award winning Residences of King George. Built in 1912 and lovingly restored in recent years, this building is a treat to explore. It’s simply wonderful. The location is hard to beat too, in the heart of Saskatoon’s downtown core. A seemingly endless number of shops, services, restaurants and night spots are available to you. Park your car underground, head out for a night on the town and make the easy walk back home later. Secure elevators keep those who don’t belong out while you enjoy the luxurious appointments found in this home. The main living area boasts ceramic tile flooring and floor to ceiling windows that provide an abundance of natural light. Custom lighting and window covering do the trick when you’re ready to escape to complete privacy. A stunning designer kitchen and the adjoining, generous dining area provides a spectacular sunset views to the west. Dark, rich cabinetry with stone countertops, and stainless steel appliances make this a special place to prepare a meal and to entertain. A huge kitchen island includes dual sinks and a ton of extra storage for all of your top-chef gadgets. Doors to the ‘Juliette balcony’ in the adjacent living room allow you to enjoy an open air feel when the weather calls for it. The master bedroom is wonderfully spacious and offers a luxurious ensuite and a walk-in closet that feels more like a dressing room. You’re going to love it. Additional rooms include a second bedroom and a full guest bathroom with floor to ceiling ceramic work that looks amazing and is so easy to clean. The well equipped roof-top patio is a perfect spot to catch some sun, prepare a barbecue, or enjoy the stars over a glass of wine.

Interested parties should contact Lyndon Neher at 306-380-9090 for details and showing arrangements.

Last year, TeamFisher.com hosted 334,888 user sessions. Those users viewed 1,594,672 listings while they were here providing our sellers with prime exposure. If you have a home to sell, we’d be happy to represent you and prominently display your home here.

A new listing at 22 Elkwood Heights, RM of Dundurn, Saskatchewan

Welcome to 22 Elkwood Heights in the RM of Dundurn, Saskatchewan.

Offered at $129,900 MLS®

Located just 16 kilometres south of Saskatoon off Highway 11, Elkwood Estate offers the best of two worlds. Just a ten minute drive from the south boundary of the city, you’ll be home within minutes of quitting time where you’ll enjoy the peace and serenity of country living. You’ll continue to enjoy easy access to all of the amenities you need, in either Saskatoon or Dundurn. This 4.95 acre parcel offers a stellar location on a country cul-de-sac that puts some distance between you and your neighbours, while still offering a sense of community. A lovely bluff of trees provides shelter and privacy along the land’s western border. It’s a perfect spot for your future dream home. A suggested plan has been provided if you want to make this simple, or feel free to do you own thing, in cooperation with the land developer’s architectural requirements.

Interested parties should contact Lyndon Neher at 306-380-9090 for details and showing arrangements.

Last year, TeamFisher.com hosted 334,888 user sessions. Those users viewed 1,594,672 listings while they were here providing our sellers with prime exposure. If you have a home to sell, we’d be happy to represent you and prominently display your home here.

Saskatoon real estate week in review for August 5-11, 2018

Saskatoon real estate sales seemingly fell off a cliff this week as the number of firm deals reported to the multiple listing service® slid lower to 63, down sharply from 100 the week before. For the first time in seven weeks, residential sales fell short of numbers recorded during the same period the year before. Last year, there were 87 Saskatoon homes that sold over the same time period.

Fortunately, new listing numbers followed sales and fell to 137, well down from the 175 homes that were offered up last week, and even lower than the 181 new listings that were added to the MLS® over the same period last year.

It’s worth pointing out that this was a short work week with only four reporting days. Sometimes this leads to a smaller volume week that is followed by a period with an unusually high number of sales.

After falling below 2000 for the first time in several months last week, the number of Saskatoon homes for sale on the multiple listing service rebounded to close the week at 2022. That number is down from 2231 at the end of the same week last year and is at its lowest point for this particular week in four years. There are currently 1118 single-family homes for sale in Saskatoon, down from 1277 a year earlier. Condo numbers are now at 774, lower than last year by nearly ten percent.

A smaller mix of lower end home sales brought the median sale price back to a more typical level as it reached $320,000. A solid string of sales above the $450,000 mark caused the weekly average sale price to bounce higher by about 17K to $339,706. Both of our longer-term measures remained fairly stable. The six-week average price of a Saskatoon home inched up just over two grand from last week to reach $337,436 and grew five hundred dollars on an annual basis. The four-week median price increased by about a thousand dollars from last week. It closed at $324,950 to record a year-over-year increase of more than ten thousand dollars.

After a total shutout last week, two sellers found a buyer willing to pay more than their asking price, one by just a hundred dollars, and the other by $5100. Two more homes traded at the full list price. The remaining 59 closed deals reported a price below the seller’s list. Those buyers netted an average discount of $13,517.

Here is a breakdown of what the sales to listing price ratio looked like on this week’s sales. Please note that those sales that do show a sale price that is greater than the list price are all new properties that spent some period of time on the market, and most likely included additional improvements that were not reflected in the original list price. We report these to you as “at list price sales”, which is likely too generous in some cases, but it’s simply not practical to obtain the full details of each sale.

More weekly stats and numbers for those who love them.

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