A new listing at #108 – 5 Columbia Drive, River Heights, Saskatoon, SK

Welcome to #108 – 5 Columbia Drive in the River Heights area of Saskatoon.

Offered at $125,000 MLS®

View full listing detailshere.

Welcome to #108 – 5 Columbia Drive, where you’ll enjoy affordable living in River Heights. Canarama Shopping Centre is steps away, and you’re also close to all the amenities in Lawson Heights and the Saskatoon North End. Hit Circle Drive, and you’ll have quick and easy access to Preston Crossing, get on Warman Road, and you’ll be downtown Saskatoon in minutes! Located near a bus route, it’s an easy ride to the University of Saskatchewan, so, it’s perfect for students. This unit has 2 bedrooms, a galley kitchen, a 4 piece bathroom, a large storage room, and one parking stall with electrical service. Enjoy summers in the outdoor swimming pool!

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 January 6-12, 2019

The second week of 2019 is now in the books and the Saskatoon real estate market showed a little promise. Local REALTORS® reported 39 firm residential trades to the multiple listing service®, up 16 from the previous week, and enough to top sales for the same week last year by seven.

New listing activity also grew. Over the course of the past week, 138 Saskatoon homes were added to the MLS® for a weekly gain of 36 and a year-over-year decline of 18.

Active listing inventory began to climb after having fallen to its lowest point in a year the previous week. Today, there are 1409 residential listings showing an active status, up 38 from the last week’s close and down annually by 113.

A closer look at the major housing types reveals that buyers have a selection of 783 single-family homes, down just marginally from 817 at this time last year. Condominium inventory is now at 546 after growning by 21 since last week. That is well down from the 607 units that were available a year ago.

Prices fell lower by every measure we track. The small number of sales that occur at this time of year provides for some pretty erratic spikes and dips from one week to the next, so these should be viewed suspiciously.

This week saw not a single sale over the $500,000 mark. Further, there were two mobile home sales that didn’t amount to $15,000 between them. Add to that mix 10 residential sales reporting a price below the $150,000 mark and you get a recipe for wild swings. The median price (the point at which half of all sales are above, and half are below) of a Saskatoon home was just $230,000, while the average sale price for the week was $238,976.

Our longer-term measures are equally suspect as they’re based on the smallest sample of sales that the two measures will likely include during any week this year. These two measures both made some weekly declines that were nothing compared to the solid lumps they took when comparing numbers from a year ago. The six-week average price edge slipped by more than 10K on a weekly basis to reach $318,182 falling lower annually by about 18K. Meanwhile, the four-week median price fell more than 35K from last week to settle at $286,000 to claim an annual loss of $49,000.

One lucky home seller saw a little overbidding activity that drove the closing price of their home above the asking price by $6,100 while 36 of this week’s trades produced a sale netting the buyer an average discount of $16,673.

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.

Thanks for reading TeamFisher’s Saskatoon Real Estate Week in Review, now published for the 618th consecutive week.

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 fall five percent in 2018: SRAR

December home sales through the Multiple Listing Service (MLS®) totalled 164 in Saskatoon, 20 percent fewer than were sold in December of 2017. The region surrounding Saskatoon had 43 MLS® sales in December of 2018, down just one from the same period last year. The total number of residential sales for 2018 in Saskatoon was 3,329, a five percent decline compared to the previous year. 2018 is the fourth straight year of declining Saskatoon home sales. By comparison, there were 4,417 MLS® homes that traded hands in 2014, a peak sales year for Saskatoon. There was no change in the total annual sales for the surrounding region with 986 residential MLS® transactions recorded.

The total dollar volume for MLS® residential sales in Saskatoon in December was $55.6 million, down 20 percent from December of 2017. The total dollar volume for the entire year reached $1.108 billion, down eight percent from 2017. The combined dollar volume for Saskatoon and region last year was down four percent for the year at $1.524 billion.

Residential MLS® listing totals for the year were also lower than previous years. 7,956 residential listings were recorded for Saskatoon in 2018. This is an 11 percent reduction from 2017’s total of 8,969. The five-year average for new listings in Saskatoon is 9,081 per year.

“Even though sales are down, having fewer new listings has helped,” comments Jason Yochim, CEO of the Saskatoon Region Association of REALTORS® (SRAR). Active listings fell to 1,487 by the end of the year. This is consistent with the five-year average of 1,480 available properties and well below peak listing numbers seen in July of 2017 when there were 2,210 homes for sale in the city of Saskatoon. “Available properties will vary depending on the neighbourhood, price range and style,” cautions Yochim. “Some price ranges still have a good supply to choose from while others do not.”

When it comes to home price trends, the best indicator of what is happening with home prices is the MLS® Home Price Index. The Home Price Index establishes attributes for a typical single-family home with a base value in 2005. From that starting point, changes in value are recorded over time to get a better sense of where prices may be trending. The value for the typical single-family home when the index began in January of 2005 was $140,400. This value reached its peak in May of 2015 at $329,500. At the end of December, it had slipped to $307,000, down from $310,900 a month earlier. December’s number is virtually unchanged from a year ago, however, it had been trending downward since the middle of 2018.

For further information, please contact:

Jason Yochim CAE, CRAE
Chief Executive Officer – Saskatoon Region Association of REALTORS®

Saskatoon real estate week in review for December 30, 2018 – January 5, 2019

And, we’re off! The first week of a new year for the Saskatoon real estate market is now behind us.

After closing 2018 with unit sales hitting the trough, residential trades saw a slight increase as 23 properties changed hands, up five from the week before, and down by four compared to the opening week of 2018.

New listings took a massive weekly increase as those numbers grew from just 25 over Christmas week to 102 this period. That number is lower than it was for the same period last year when 117 Saskatoon homes were offered for sale.

The total number of active residential listings on the Saskatoon multiple listing service® hit its lowest point for any single week since early 2015. Today, there are 1371 Saskatoon homes available for home buyers, a drop of 127 from last week’s close, and down about a hundred units from where it stood as the 2018 calendar year began.

The largest declines are seen in the condominium inventory which fell from 582 a year ago to 525 today. While condo sales have been showing some gains in recent months the math is telling me that most of the inventory decline can be attributed to the hefty number of year-end expired listings which will likely resurface in the weeks ahead. The number of detached homes for sale slipped from 808 a year ago to 764 today. Again, this category shows a weekly decline of 72. With total sales for the week at just 23 units, these drops are also the result of expired listings.

Let’s not read much into the pricing data as averages are very unreliable when there are hardly any sales. That said, the weekly median price of a Saskatoon home slipped to just $279,500. That’s the lowest weekly median we’ve seen since the opening week of 2018. With just one sale reporting a price above $500,000, the weekly average was also low at $307,317. The six-week average price slipped lower by a couple of thousand dollars from last week to settle at $335,777. That’s about where it was at the close of the same week a year ago. The four-week median price fell $5500 from last week to close this period at $322,450. It claimed an annual increase of $4500.

One Saskatoon home seller made off with a deal that was $100 above asking price, while 19 others found themselves being ground for a discount that averaged $13,763.

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.

Thanks so much for following our weekly updates. I look forward to continuing to provide this data for the thirteenth consecutive year (617 consecutive weeks!).

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 December 23-29, 2018

The final week of the year for the Saskatoon real estate market was quiet, as it always is. This week marks the bottom of the annual real estate cycle which typically peaks in April, May or June, and then begins a slow and steady decline that finishes here.

Local agents reported just 18 firm residential sales, down for 52 last week, but finishing ahead of Christmas week last year by two. New listings also fell off as just 25 Saskatoon homes were added to the multiple listing service® database, a drop of 50 from the previous week, and down by one compared to the closing week of 2017.

Active MLS® listing inventory fell to its lowest point in a year. As of this morning, there are 1498 residential listings showing an active status on the Saskatoon multiple listing service®, down 35 units from a week ago. Looking back to last year, there were 1607 Saskatoon homes available to buyers as the final week of 2017 closed. Today’s totals include 836 single-family homes for an annual drop of 31. Condo listings total 568, which is just two fewer than were available last year at this time.

Prices were off the charts high with four of this week’s 18 sales recording a sale price exceeding $500K. The weekly median price came in at $379,500 and the weekly average was $431,744. The six-week average price grew by close to three thousand dollars from last week and reached $337,439. That’s down from the closing week of 2017 by about twenty-eight hundred dollars. The four-week median price also took some gains, up $8,500 from last week to $328,000. That was enough to claim an annual increase of four thousand dollars.

Two sellers were lucky enough to secure an offer at their asking price. The other 16 gave up some dough to make a deal netting buyers an average discount of $15,0000.

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.

As another year for the Saskatoon real estate market draws to a close, I thank you for continuing to show up here to read my work. I wish you and yours the very best that 2019 has to offer.

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