Saskatoon real estate week in review for February 23 – March 1, 2019 (edition #625)

Saskatoon real estate sales slipped lower this week, falling from 59 the previous period to 51. That total was short of numbers recorded for the same week last year by just five. This year’s market looks a lot like last year’s. As February closed, the MLS® system of the Saskatoon Region Association of REALTORS® had recorded 412 residential sales, year-to-date, exactly matching the production for the first two months of 2018.

The number of new listings that entered the MLS® system grew from 105 last week to 137 this week, which is down 20 units on an annual basis.

Active residential listings within the city of Saskatoon remained low in comparison to almost any point over the past five years. As business wrapped up for the week, inventory levels were at 1427, up just one unit from a week earlier. At the same time last year, buyers had an additional 130 Saskatoon homes to choose from. That’s far lower (300-400 homes) than it was in 2016 and 2017 when inventory levels were pushing towards new record highs.

The largest declines are seen in the condo category which has slipped to 567 from 650 a year ago. Today, there are 771 single-family homes for sale in Saskatoon, for an annual decline of 56 houses.

Even without any million dollar listings in the weekly mix, the average price of a Saskatoon home inched higher to $346,159. The weekly median jumped by 60K to reach $379,000 as upper-end home buyers showed up to get a deal done.

The longer-term price measures fell well below last year’s levels through January, but they have slowly been gaining ground through February.

The six-week average price took its third consecutive weekly increase to finish the period at $334,767 for a gain of close to six thousand dollars. That still comes up short of where it was a year earlier by just over three thousand dollars. The four-week median price grew for the fifth week in a row. It closed 12K higher than it did at the end of the previous period to finish with a ten thousand dollar annual gain. Still, sample sizes remain small and price data should be taken with a grain of salt.

Not a single sale reported a final price that was above asking price, except for a couple of brand new homes. Those exceptions very likely closed with additional improvements being negotiated into the over-list sale price. Meanwhile, 46 of the week’s 51 sales went below the asking price generating an average discount of $10,654.

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 530 Avenue W South, in Pleasant Hill, Saskatoon, SK

Welcome to 530 Avenue W South in the Pleasant Hill area of Saskatoon.

Offered at $189,900 MLS®

View full listing detailshere.

Welcome to 530 Avenue W South. Situated on a large lot in the Pleasant Hill area, this cute and spacious three bedroom bungalow with a single detached garage is perfect for anyone whether it be a first time buyer, or someone who wants to start raising a family. It could also be an excellent a revenue property as well. Within walking distance of WP Bate School and a large park while Holiday Park Golf course, and many other amenities are just a short drive away. The bright living room with laminate floors leads to the dining room and kitchen that has plenty of cabinets and an eating bar. The living room is spacious and wired for surround sound. The three bedrooms are all carpeted and the four piece bathroom is tiled. All bedroom windows have been upgraded, with new paint in the master bedroom and second bedroom. The large backyard is mostly fenced (the back fence was replaced in 2014) and has a large deck off the back of the house that’s been well kept and treated. The roof on the home is in excellent shape! The single detached garage has been renovated with work done on the siding, new sheets and new shingles on the roof and a new eavestrough. Overhead door has also been installed replacing the previous door. The yard is LARGE in the front and back!. Great space to enjoy the outdoors. This home was owned and lived in by a single professional, who never smoked and kept the home updated, modern and in excellent shape! Appliances work excellent – Whirlpool dishwasher and GE refrigerator. Come in and have a view!

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.

Saskatoon real estate week in review for February 16-22, 2019 (edition #624)

The Saskatoon real estate market recorded its strongest sales week for 2019 as 59 firm residential deals were reported to the MLS® system.

The total of new listings added to the multiple listing service® grew marginally to 105, up from 99 the previous week and down by one compared to the same period last year.

The number of Saskatoon homes for sale on the MLS® grew by eight this week to 1426, which is down from 1573 a year earlier. While active listing numbers are slow in making gains compared to most years, the line on our chart looks a lot like last year’s. In 2018, it wasn’t until close to the middle of March that listing inventory began to grow at a more typical pace. Still, with far fewer new condominiums for sale, I expect that this year’s active inventory will fall short of last year’s right through spring.

Included in the total inventory we have 770 single-family homes for sale, down from 836 a year earlier. The condo category has fallen to 567 from 653 a year ago.

The city’s first residential sale above the $1 million mark for 2019 was recorded this week. Even with that one in the mix, the average sale price for the week slipped lower to $338,230. Meanwhile, a bit more activity at the upper end pushed the weekly median price higher to $318,000.

The six-week average price took a jump of nearly 15K from where it was a week ago. It reached $329,015 which is just eight thousand dollars lower than it was at the close of the same week last year. That’s the smallest annual drop we’ve recorded in several months time. The four-week median price grew for the fourth consecutive week to reach its highest point since the opening week of 2019. It closed at $310,000. That’s up $2000 from a week ago, but down close to 20K annually.

Two sellers got a break that led to some overbidding on their home. One of the two homes sold for $20,000 more than the asking price, while the other went $200 over. On the flip side of the negotiating table, 52 buyers made off with a discount averaging a hefty $14,645.

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 202 Saguenay Drive, in River Heights, Saskatoon, SK

OPEN HOUSE – SUNDAY, MARCH 24TH – 1PM – 3PM

Welcome to 202 Saguenay Drive in the River Heights area of Saskatoon.

Offered at $549,900 MLS®

View full listing detailshere.

This terrific River Heights home offers incredible space and a spectacular location. You’re just 300 meters from Meewasin Trail and the amazing South Saskatchewan River Valley. If you enjoy a bike ride, an evening stroll or cross-country skiing you’ll appreciate the ease at which you can access over 20 kilometres of paved pathways that wind through some of Saskatoon’s prettiest scenery across all four seasons. This north Saskatoon location provides easy access to the downtown area and the University of Saskatchewan campus. This bi-level home is huge with over 2100 square feet above grade, and a spacious developed lower level. The basement is just three feet below grade, has large windows that provide an abundance of natural light, and a walkout from the great room. The highlight of the home is the great room, measuring 27 feet by 25 feet, you’ll have no trouble expanding the guest list when entertaining. The room’s vaulted ceiling and skylights give it a grand feel. Cozy up to a fire during the winter, or open the garden doors and walk out to the backyard patio and maintenance free yard when it’s warm. With a total of four bedrooms and four bathrooms, there’s plenty of space for growing families too.

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.

Welcome to 422 Brightsand Crescent, Lakeridge, Saskatoon, SK

Welcome to 422 Brightsand Crescent in the Lakeridge area of Saskatoon.

Offered at $374,900 MLS®

View full listing detailshere.

Welcome to 422 Brightsand Crescent, a three bedroom, three bathroom, four-level split on a quiet crescent in the Lakeridge area. You’ll enjoy the close proximity to quality schools, parks, and all the amenities in the Lakewood and Rosewood areas, which includes shopping, restaurants, banking and more. You’re also just a few minutes from Saskatoon’s newest Costco and other shops in the Meadows area. Get on Circle Drive South, and you can get downtown or to the Saskatoon west end in minutes. Have a student in your household? Multiple bus lines are a short walk away.
This home measures in at 1,026 sq/ft and is finished on all levels. The kitchen features updated dark alder wood Superior cabinets, granite countertops, stone and glass tile backsplash and high end stainless steel appliances. Garden doors take you out to your low maintenance, composite deck with natural gas BBQ hookup, and fully fenced backyard, with mature landscaping. Underground sprinklers in both the back and front yards, making summer watering a breeze. Upstairs, you’ll find the master bedroom with three piece ensuite, as well as two other bedrooms, so the family can all stay on the same floor. All of the home’s bathrooms have been updated. The third level has laminate flooring in the family room, as well as a natural gas fireplace to keep you warm on our chilly winter evenings, a two piece bathroom rounds out this level. The lower, fourth floor could be used for storage, a games room or work out area. Large laundry and utility room is also on this level. This great family home has plenty of off street parking in the double attached garage and on the double concrete driveway.

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.