Saskatoon real estate week in review for May 18-24, 2019 (edition #637)

For the seventh consecutive week, Saskatoon real estate sales in the residential category grew over the same week in 2018. Local real estate agents reported 73 Saskatoon homes as having firmly sold, down from 95 last week, but up just a touch from the same period last year when 70 deals closed. As we head into the final stretch of the month of May, it appears that year-over-year gains will be recorded for the month (for the third month in a row), setting us up for the longest run of year-over-year sales increases since 2014.

New listing numbers took another large decline as they fell to 147, down from 219 last week to finish lower annually by 23 units. With just four weeks of “spring” left this year, new listing numbers should fall lower by a small amount in each remaining month, with June being the possible exception.

The inventory of MLS® listings available to Saskatoon home buyers edged higher growing by 20 this past week to reach 1910 for an annual drop of 87 properties. Available single-family homes hit a new annual high at 1079, up modestly from 1055 a year ago. Most of the losses to inventory numbers are in the condo category which shows 709 units today, down from 817 a year ago.

More entry level activity caused a modest decline to the weekly median price for a Saskatoon home which came in at $320,000. The weekly average price fell further. At just $331,813 that measure was close to twenty-five thousand dollars lower than it was last week, in spite of two sales that together added over two million dollars to the sales volume. Aside from those, there were only three other home sales that recorded a price above 500K.

The six-week average price moved up a few hundred dollars to reach $340,948. That was enough to post an annual increase of seven thousand dollars. Meanwhile, the four-week median price dropped by nearly seven thousand dollars from last week and settled at $318,250. That’s down a bit less than $2000 from where it finished the same week last year.

One fortunate seller sold for more than they were asking, putting an extra $2100 in their pocket. Another 66 of this week’s 73 sales went for less than the listed price netting those buyers an average discount of $11,430.

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 May 11-17, 2019 (edition #636)

Saskatoon real estate sales in the residential category were higher than they were for the same period last year, now for the sixth consecutive week. Local REALTORS® firmed up 95 transactions in the category for a weekly gain of five and an annual increase of nine.

New listing activity remained seasonally strong. While the number of homes that were added to the MLS® fell five from the previous week, it grew by 15 units annually to reach 219.

The number of Saskatoon homes available to home buyers through the multiple listing service® continued to climb and reached 1890 by this morning. That brings a weekly increase of 78 properties and an annual decline of just 63. While active residential listings have remained at their lowest point in five years (for each week) most of this year we are close enough to last year’s numbers that the streak could end anytime. Weekly new listings should begin to decline very soon but we are still a month to two months away from seeing total inventory numbers reach their peak and it’s looking like we will easily eclipse 2000 listing before that happens.

Today’s totals include 708 Saskatoon condominiums, up nine from last week, but down 86 units from the close of the same week last year. Meanwhile, the number single-family homes that are offered for sale through the MLS® within the city of Saskatoon grew to 1060 for a weekly increase of 50. At this time last year there were 1032 Saskatoon houses for sale.

Upper end activity remained strong this past week and the weekly median price inched slightly higher to $325,000. A couple of sales that together added more than $2 million in dollar volume helped boost the average price of a Saskatoon home higher by nearly 25K this week to $355,979. The six-week average price took its fifth consecutive weekly gain and reached $340,074 which is nearly ten thousand dollars higher than it was at the close of the same period last year. The four-week median price moved in the opposite direction as it fell seven thousand dollars compared to the previous week to close ahead annually by close to fifteen thousand dollars.

Sellers hoping that multiple bids on their home might drive up the closing price were largely disappointed. Just two sales reported an above list price sale. One of those sellers picked up a $5,600 bonus, the other settled for $100 more than they had asked. Across the negotiating table, 85 Saskatoon home buyers closed a deal with an average discount of $11,373.

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

Canadian home sales grow in April 2019: CREA

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

According to the report, “Home sales recorded via Canadian MLS® Systems rose by 3.6% month-over-month in April 2019. After having dropped in February to the lowest level since 2012, the rebound in sales over the past two months still leaves activity slightly below readings posted over most of the second half of 2018.”

Across the Prairies, supply remains historically elevated relative to sales and home prices remain below year-ago levels. Benchmark prices were down by 4.6% in Calgary, 4% in Edmonton, 4.3% in Regina and 1.7% in Saskatoon. The home pricing environment will likely remain weak in these cities until demand and supply return to better balance.”

Highlights of CREA’s report

  • National home sales improved by 3.6% month-over-month (m-o-m) in April.
  • Actual (not seasonally adjusted) activity was up 4.2% year-over-year (y-o-y).
  • The number of newly listed homes climbed 2.7% m-o-m.
  • The MLS® Home Price Index (HPI) eased by 0.3% y-o-y in April.
  • The national average sale price edged up 0.3% y-o-y.

Read the entire report on Canadian MLS® sales for April 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

Welcome to #115 – 542 Pringle Crescent, Stonebridge, Saskatoon, SK

Welcome to #115 – 542 Pringle Crescent in the Stonebridge area of Saskatoon.

Offered at $569,900 MLS®

View full listing detailshere.

View still images of this home here.

Welcome to #115 – 542 Pringle Crescent! This stunning two bedroom bungalow townhouse backs the lake at “The Pinnacles” in the Stonebridge area and is perfect for the young professional or newly retired. Located just two blocks south of Vic Boulevard, you’ll have quick entry and exit from the neighbourhood, plus, a host of shopping and recreational amenities are only a short car ride away. The footpaths right outside your door allow you to walk (or run) around the lake or maybe you prefer to watch the world go by from your upper deck while enjoying a crisp chardonnay, either way, you’re in a great position to enjoy our amazing Saskatchewan summers. As a former show suite, this home is fully developed with numerous high end finishes. The kitchen features full height cabinetry, granite countertops and tiled backsplash. The kitchen is open to a dining nook and living room with gas fireplace and a custom wet bar. The large master bathroom has views of the lake and a five piece bathroom and completes the main floor. The walkout basement is fully developed and is the perfect place for a quiet night in! Enjoy movie nights in the large theatre room with its own bar with granite countertop. Work from home in the leather-floored den. Relax in the large family room. A second bedroom and another bathroom round out the basement. Other features of this home includes a double attached garage with epoxy flake flooring, natural gas BBQ hook up, and central air. 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.

Welcome to 422 Brightsand Crescent, Lakeridge, Saskatoon, SK

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

Offered at $369,900 MLS®

View full listing detailshere.

View still images of this home here.

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.