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 13-20, 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

A new listing at 1626 Bader Crescent, in Montgomery Place, Saskatoon, SK

Welcome to 1626 Bader Crescent in the Montgomery Place area of Saskatoon.

Offered at $359,900 MLS®

View full listing detailshere.

Welcome to 1626 Bader Crescent, a 995 sq/ft three plus two bedroom bungalow situated on a gigantic 15,703 sq/ft lot in the desirable Montgomery Place neighbourhood. The massive backyard has lane access and no rear neighbours with lots of room for RV parking and lawn/garden space. Enjoy our amazing Saskatoon summers puttering around the landscaped yard that includes gorgeous perennials and a large fire pit, which is perfect to sit around with friends and family once the sun goes down. Inside, you’ll find three bedrooms, the living room and the kitchen and dining room. Garden doors to the deck off the dining room provides you with outdoor dining space. The partially finished basement has a wood burning fireplace, two bedrooms, a four piece bathroom, and a roughed-in kitchen, which could make the basement into a non-conforming suite. The home has some recent upgrades including a new water heater in 2014, triple pane windows and newer deck. The double attached garage measures in at 20×40 and can accommodate numerous vehicles and/or toys! This home is perfect for families that enjoy DIY projects, the outdoors, and where it feels like you’re living the lake! Come check it out today!

Interested parties should contact Lyndon Neher at 306-380-9090 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.

A new listing at 205 Cowan Crescent, Martensville, SK

Welcome to 205 Cowan Crescent in Lake Vista, Martensville, Saskatchewan.

Offered at $389,900 MLS®

View full listing detailshere.

Welcome to 205 Cowan Crescent, a three bedroom, two bathroom bi-level in one of Martensville’s newest neighbourhoods, Lake Vista. The main level has an open concept main living area featuring durable laminate flooring in the kitchen, living and dining rooms. The kitchen has plenty of dark, modern cabinetry, stainless steel appliances, and comes complete with an island with a breakfast bar. Also on the main floor are two good sized bedrooms and a four piece bathroom. On the second level, is the large master bedroom with a walk-in closet and a four piece ensuite. The basement is unfinished and ready for your customization! The double attached garage with direct entry has been insulated, drywalled and painted. This home is move in ready, come take a look today!

Interested parties should contact Lyndon Neher at 306-380-9090 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.