Saskatoon real estate week in review for April 20-26, 2019 (edition #633)

The residential side of the Saskatoon real estate market posted its biggest sales week for the calendar year as completed transactions that may have been recorded Good Friday, had the MLS® not been closed for the holiday, added to the week’s numbers. A total of 93 Saskatoon homes traded hands for a weekly increase of 13, and an annual gain of three.

Meanwhile, new listing activity slowed substantially. Local agents brought just 134 new listings into the multiple listing service® which is down 40 units from the week before, and 21 fewer homes than the number offered for sale the same week last year.

Active listing numbers fell slightly from 1773 a week ago to 1763 by Saturday morning. At the close of the previous week, inventory had come within 25 units of matching last year’s number, which was the smallest year-over-year decline in about five months. This week, the gap grew just a bit. When business wrapped up for the same period last year, available MLS® listing had reached 1801.

Today’s totals include 967 single-family homes, which is a 27 unit increase from a year ago. Condominium inventory fell lower this week to 691 for an annual decline of 78 units, a ten percent drop from levels recorded a year ago.

You may recall that upper-end buyers showed up in a fairly big way last week. That continued through this period and the median sale price of a Saskatoon home edged higher to $346,000, even as the average weekly price fell by 10K to $351,605. The six-week average price took its fourth consecutive weekly increase to reach $334,167. That is up less than a thousand dollars from the close of the same week last year, and its highest point on the graph for 2019. The four-week median price continued an upward roll to grow by seven thousand dollars weekly. It closed the week at $333,250 to claim an annual increase of more than thirteen thousand dollars.

This week’s sales mix included four resale properties that sold for more than the asking price. While the average bonus paid amounted to $1350, the majority of that came from one sale that was reportedly completed at a price that was $5100 above the seller’s asking price. The other three buyers overbid by a modest $100 to close on the house they wanted to buy. Meanwhile, 84 of the week’s 93 sales were reported to have sold below the asking price at a discount averaging $13,233.

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.

Thank-you for reading TeamFisher’s Saskatoon Real Estate Week in Review.

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 327 Leland Place, Wildwood, Saskatoon, SK

Welcome to 327 Leland Place in the Wildwood area of Saskatoon.

Offered at $169,900 MLS®

View full listing detailshere.

View still images of this home here.

Welcome to 327 Leland Place. This well maintained, two bedroom home sits on a massive titled lot in the Wildwood area. Highly affordable, this property presents a perfect opportunity for those seeking easy entry into the Saskatoon real estate market. You’ll be close to shopping, restaurants, grocery stores and lots of other amenities. Two elementary schools and a park are within walking distance. The bright living room is open to the dining room and the kitchen, which has plenty of oak cabinetry, all major appliances are included. Down the hallway is where you’ll find the laundry and the two bedrooms. The master bedroom has its own entrance to the large four piece bathroom. The real selling feature of this property is the gigantic lot which offers plenty of room for a workshop, a double garage, and near endless storage capacity for campers, tools, and toys.

Interested parties should contact Scott Irwin at 306-262-0072 for details and showing arrangements.

If you have a home to sell, we’d be happy to represent you and prominently display your home here.

Canadian home sales edge higher in March 2019: CREA

The Canadian Real Estate Association (CREA), recently released national sales statistics for March of 2019.

According to the report, “Home sales via Canadian MLS® Systems edged up 0.9% in March 2019 following a sharp drop in February, leaving activity near some of the lowest levels recorded in the last six years.”

There was an even split between the number of markets where sales rose from the previous month and those where they waned. Among Canada’s larger cities, activity improved in Victoria, the Greater Toronto Area (GTA), Oakville-Milton and Ottawa, whereas it declined in Greater Vancouver, Edmonton, Regina, Saskatoon, London and St. Thomas, Sudbury and Quebec City.”

Highlights of CREA’s report

  • National home sales edged up 0.9% month-over-month (m-o-m) in March.
  • The number of newly listed homes rose 2.1% m-o-m.
  • The MLS® Home Price Index (HPI) eased by 0.5% y-o-y in March.
  • The national average sale price fell 1.8% y-o-y.

Read the entire report on Canadian MLS® sales for March 2019.

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 for April 13-19, 2019 (edition #632)

Saskatoon home sales took a modest dip this week with Friday’s closure of the MLS® system shortening the work week. Local agents reported 80 firm residential sales, a drop of seven from the previous week, and up by five when compared to the same week last year.

New listing activity continued to be strong as 174 Saskatoon homes were added to the multiple listing service®. That number is down 16 compared to activity reported the week before and even with listings generated over the same period last year.

Active listing numbers continued to grow at a more rapid pace than they did in 2018. After the overnight expired listings were removed from the mix, 1773 Saskatoon homes were showing an active status on the system. That is up 63 units from the previous week’s close and just 25 properties shy of levels recorded at the close of the same week a year ago. The trend of rapid growth to Saskatoon’s MLS® listing numbers suggests that we may be talking about year-over-year gains next week for the first time since October of last year when listing numbers started to trend lower. Single-family homes inventory sits at 970 today, up nearly 30 from a week ago, a 21 higher than last year. Condo inventory is at 694 for an annual drop of 61 homes.

Upper end real estate buyers showed up this past week and drove both the weekly median price and the weekly average higher to $340,000 and $361,118 respectively. The longer term measures followed along. The six-week average price grew nearly eight thousand dollars from last week but still closed lower than it was a year ago by roughly nine thousand dollars. Meanwhile, the four-week median price jumped 16K compared to the previous week and reached $326,250 to find itself up annually by just over six thousand dollars.

A couple of lucky sellers managed to find their home the subject of a bidding war. Those two deals netted the seller an average bonus of $2,600 more than their asking price. On the flip side of the negotiating table, 67 Saskatoon home buyers made off with a discount that averaged $13,540.

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.

Thank-you for reading TeamFisher’s Saskatoon Real Estate Week in Review.

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 for April 6-12, 2019 (edition #631)

The Saskatoon real estate market recorded its highest volume week this year as 87 firm residential sales were reported to the MLS®. That number is up 13 from last week and also beats sales for the same period last year by 11 units.

The number of new listings added to the database of the multiple listing service® remained high as 195 Saskatoon home owners offered their home for sale, down four from the previous week, and up four annually.

The number of Saskatoon homes for sale on the MLS® system continued to grow and cracked the 1700 mark for the first time since December. This morning, there were 1710 homes showing an active status within the city of Saskatoon, up 54 from last week’s close, and down just 40 from levels recorded last year at this time. In recent weeks, the gap between last year’s inventory numbers and this year’s has been slowly closing. Condo inventory is at 672 today, down 50 from a year ago. The number of single-family homes for sale in the city grew by 40 this week to reach 941. That was high enough to top numbers reported at the close of the same week last year by six.

The weekly median price of a Saskatoon home grew by fifteen hundred dollars to reach $323,000 while the average price fell to $327,828. The six-week average price continued on its downward trend, this week falling modestly to $320,793 and finishing nearly 12K shy of levels recorded at this time last year. The four-week median price was unchanged from last week at $310,000 but down annually by ninety-five hundred dollars.

There was not a single resale transaction that reported a price above the seller’s asking price this past week. Meanwhile, 78 sales showed an average discount of $12,474 when the results of these sales were recorded on the MLS®.

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.

Thank-you for reading TeamFisher’s Saskatoon Real Estate Week in Review.

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