A new listing at #403 – 150 Pawlychenko Lane, Lakewood, Saskatoon, SK

Welcome to #403 – 150 Pawlychenko Lane in the Lakewood area of Saskatoon.

View still photos of this homehere.

This exceptional two-bedroom, two bathroom condo is located in the Coronado Condominiums in beautiful Lakewood, where you’ll enjoy easy access to a growing number of shops, restaurants and amenities right in your area. Full elevator service will get you from your underground parking stall to your top-floor condo in a snap. The home offers an open main living area with a lovely maple kitchen that includes a built-in dishwasher and microwave, a fridge and a range. Granite countertops give it a high-end touch. A generous breakfast bar nicely expands your counter space making this room a joy to prepare a meal in. The spacious living room has a garden door to a private balcony where you can connect your barbecue to a natural gas supply so you never run out of fuel. The master bedroom boasts a bathroom with a full size shower and a walk-in closet. The home also has a laundry/storage room with a washer and dryer. Water heat provides great warmth through the winter and central air will keep you cool through the hot Saskatchewan summer months. In additional to your own stall and storage in the heated underground parking garage, there’s an additional surface stall with electrical service. Building amenities include a fitness centre, guest rooms to house visiting friends and family that are available for a nominal fee, and a common room with kitchen that can be booked when you want to entertain large groups.

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: April 1-7, 2018

In a hopeful sign that a spring real estate market is on its way Saskatoon home sales and new residential listings both hit a weekly high for the year.

Local agents reported 77 firm sales, well up from the 55 that got a sold sign last week, and eleven fewer than we saw trade hands over the same week last year. This was the ninth consecutive week during which sales fell lower on an annual basis.

Meanwhile, new listings number spiked higher to 197 for a weekly increase of 67 Saskatoon homes. Still, that number is way down from the 253 local homes listed over the same period of 2017. Each week this year, new listings numbers have failed to match last year’s levels.

The inventory of active MLS® listings in the residential category grew by 46 to close the week at 1722, well below the 1931 properties that were available to buyers last year at this time. Once again, inventory is at a four year low for this particular week, now for six consecutive weeks. The number of single-family homes for sale on the Saskatoon MLS® system grew to 912, down from 1023 a year ago. Condo inventory sits higher by five percent this week as it increased from 682 at last week’s close to 716 today. That number is lower than it was a year earlier when 745 Saskatoon condos were for sale.

After nearly disappearing over the past few weeks, high-end home buyers returned to the market and drove all four prices measures we track higher. With three home sales averaging a sale price of nearly a million dollars each, the weekly average price of a Saskatoon home took the biggest jump as it grew by nearly $40,000 to reach $364,461. Meanwhile, the weekly median price was $15K higher than the previous week at $335,000. The four-week median price edged up $2500 from the previous week’s close hitting $320,000. That amounts to an annual increase of $3000. The six-week average price grew by ten thousand dollars to reach $344,457 to come short of levels recorded a year ago by eleven thousand dollars.

Two lucky sellers closed on offers that were above their asking price, one seeing a remarkable overbid of $90,000 on a property that was clearly underpriced, perhaps intentionally. Another 69 sellers found they had to be a bit more flexible and agreed to sell their home at an average discount of $13,983. That number was somewhat skewed by substantial discounts on the higher end sales, three of which contributed a quarter million dollars to the discount pool.

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

Saskatoon home sales see declines in Q1, 2018: SRAR

A media release from the Saskatoon Region Association of REALTORS® with an overview of residential MLS® sales and listing activity for the month of March 2018 follows.

In the first quarter of 2018, there were 648 Saskatoon home sales, a 10 percent decline on a year-over-year basis. The decrease in sales for the month of March was 24 percent with just 234 residential transactions occurring last month.

The number of new listings introduced on the MLS® for Saskatoon is also down for the quarter. There have been 1,807 Saskatoon homes listed so far this year compared to 2,183 for the same period in 2017.

At the end of March, active residential listings in Saskatoon totaled 1,670 for both single and multi-family homes, consistent with the five year average of 1,695. The inventory would take just over seven months to liquidate at the current rate of sales. 

The reduction in active listings is not only the result of fewer homes being listed on the market. “Some sellers may have decided not to re-list their home just yet, opting to wait for the more active spring market to try their luck,” according to Jason Yochim, CEO of the Saskatoon Region Association of REALTORS® (SRAR). “Many sellers believe that spring is the best time to sell,” he adds.

The sale-to-listing ratio is a comparison of the number of sales to the number of new listings for a specific period of time. Understanding this ratio allows us to determine if we are in a buyer’s market, a seller’s market or a balanced market. A ratio between 40% and 60% is considered to be a balanced market. A ratio below 40% is considered to be a buyer’s market, while a ratio exceeding 60% is considered to be a seller’s market. The sale-to-listing ratio for March was 35%, down slightly from the five year average of 40%.

Last month, Saskatoon homes took an average of 64 days to sell compared to 47 days in March of 2017. The five year average days to sell for the Saskatoon market is 50 days. 

The average year-to-date residential sale price continued its steady decline falling 2%. For the first quarter of 2018, the average home sale price in Saskatoon was $333,826. Since averages can be misleading, the median price tends to be a better reflection of the market. The median home sale price continued to decline from $330,000 in January, to $317,250 in March. In March of 2017, the median price was just slightly higher at $320,000. The five year average for median residential home sale price in Saskatoon is $330,000. 

The Home Price Index Composite Benchmark Price (HPI) increased slightly for the first time since June of 2017 to $293,200. By comparison, the composite benchmark has not been this low since February of 2012. The highest point ever reached was $319,600 in May of 2015. Declines to the HPI began showing signs of slowing in January of 2018. The HPI is the most accurate indicator of where home prices are trending.

Jason Yochim CAE, CRAE

Chief Executive Officer 
Saskatoon Region Association of REALTORS® 

Saskatoon real estate week in review: March 25-31, 2018

Residential sales continued to fall lower on an annual basis for the eighth consecutive week as Saskatoon real estate agents reported just 56 firm sales to the MLS® system, up from 50 last week, but down from 81 when compared to the same week last year. As the month of March draws to a close, the multiple listing service® shows just 234 sales in our city for the month. There were 310 sales last March.

Fortunately, new listing activity was also quite weak, perhaps an indication that a shortened work week was the primary culprit for both softer sales and listings. Local REALTORS® ushered 130 Saskatoon homes onto the system, down from 152 last week and way below the 200 properties that entered the system over the same period last year.

Even before month-end expired listings would draw MLS® inventory lower, the total number of homes for sale in Saskatoon took a very small dip falling to 1676 this morning, three fewer than we had a week ago, and down from 1854 a year earlier. The majority of the decline can be seen in the single-family housing category which fell from 999 at the close of the same week last year to 898 today. Condo inventory has also slipped lower to a lesser degree. Today there are 682 Saskatoon condos for sale, down 23 units from a year ago.

Sales activity above the $500,000 mark continued to show some weakness this week but one sale that approached the $900,000 mark helped nudge the average sale price of a Saskatoon home higher to $323,736 even as the weekly median price took a small dip to $320,000. Meanwhile, both of our longer-term price measures inched higher. The six-week average grew by roughly $800 from a week earlier to hit $324,466 for an annual decline of $17,000. The four-week median price moved to $317,500 after stalling at $310,000 for three consecutive weeks. It’s up about three thousand dollars from a year ago.

Once again, we see just one overbid sale this week. That deal netted the seller a $100 bonus. On the other hand, 54 of this week’s sales went for less than the asking price with an average discount of $11,692.

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

Saskatoon real estate week in review: March 18-24, 2018

Saskatoon real estate sales activity fell lower on both a weekly and annual basis for this period. Local REALTORS® reported 50 firm residential trades for a decline of eight when compared to last week, which was well down from the 72 Saskatoon homes that sold during the same week last year.

New listing activity slipped lower by just one property compared to the previous week as 152 homes were offered for sale on the multiple listing service®, down from 162 for the same period of 2017.

The total number of Saskatoon homes listed for sale on the MLS® gained some ground reaching 1679 properties by today. That’s up 28 from last Saturday morning. At the close if this week last year there were 1864 homes showing an active status on the MLS. This is the fourth consecutive week during which active listings are at their lowest point for the end of March since 2014 when inventory began to grow significantly. A closer look at the major housing categories shows 900 single-family homes, up from 879 last week, and down from 988 a year ago. Condo inventory is now at 690, up ten listing from a week ago, and down 34 on an annual basis.

The weekly median sale price inched slightly higher ($1,250) to $321,250. With just three homes reported to have sold above $500,000 the average sale price for the week tumbled more than $30,000 to just $317,740. The four-week median price held steady at $310,000 for the third week in a row even as it came in shy of the number recorded a year earlier by nearly 20K. The six-week average price fell just over four thousand dollars from a week ago to finish this period at $323,680 for a year-over-year decline of roughly fifteen thousand dollars.

Only one seller managed to close a deal above asking price, and with a fairly modest overbid of just $100. Meanwhile, 46 of this week’s 50 sales reported a sale below the listed price with an average discount of $11,632 which is more than four thousand dollars lower that it was the week before.

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