Saskatoon real estate week in review: September 17-23, 2017

Saskatoon real estate sales gained some ground this week as local agents reported 67 firm residential deals to the Saskatoon MLS®, up from 53 a week earlier. That said, numbers failed to meet those generated over the same period in the previous year for the sixth consecutive week, this week’s shortfall being 14 homes.

New listings continue to flow onto the multiple listing service® as Saskatoon home sellers hoping to find a buyer before the snow flies take one last crack at the market. A total of 189 new listings were added for this period, about the same number that came on the previous week, but up annually by 21.

The inventory of active residential real estate listings available to buyers through the MLS® increased for the second week in a row as it grew to 2148 Saskatoon homes, up 21 from a week earlier. That’s 192 more listings than were available at the same day a year earlier. Included in those numbers are 1261 single-family homes, up from 1071 last year, and 775 condominium units, up 54 from a year earlier when a selection of 721 were displayed on the MLS®.

With nearly 20 sales reporting a sale price of less than $250,000 the weekly median price fell sharply lower ($50,000) this week to $290,000. The weekly average fell even more ($60,000) after reaching its highest point for at least two years the previous week. It came down to $335,765 in spite of a couple of large residential sales that collectively added more than $2 million to the total sales volume. The six-week average price took its third weekly increase to reach its highest point since June at $351,229. That increase left it ahead by about six thousand dollars compared to last week, and just as much when compared against numbers generated during the same week a year ago. Meanwhile, the four-week median price moved in the opposite direction falling about thirty-five hundred dollars from the week before. It came in a $334,550 which is about where it was at this time last year.

After a dry spell of a few weeks, three sellers managed to complete a sale above their asking price but the bonuses paid were small at just $133 each, on average. While three other sellers got their price, 59 of this week’s 67 sales were reported to have sold below asking price with an average discount of $13,687.

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: September 10-16, 2017

The number of Saskatoon homes that traded through the local MLS® system fell by three on a week-over-week basis to 53, down 30 sales when compared against firm residential sales for the same week last year. This is the fifth consecutive week during which sales fell year-over-year. Meanwhile, the number of new residential listings that were added to the multiple listing service® grew to 188, up from 167 last week, and beating numbers posted during the same week last year by 11.

On the heels of a three-week retreat that brought active residential listings eight percent below their annual peak, numbers inched higher again and reached 2127, up 23 from last week’s close, leaving us with 147 more Saskatoon homes than could be found on the MLS® a year earlier. Today’s totals include 1227 single-family homes, up from 1091 at the close of the same week last year. Condo inventory stayed stable compared to a week earlier. There are currently 788 for sale on the system, up from 723 a year ago.

With an unusually high mix of upper-end sales and a pretty sparse showing of trades below 200K, the average sale price of a Saskatoon home spiked to its highest point this year, $395,375, even as the weekly median price declined to $340,000. The six-week average price took some gains for the second week in a row to finish at $344,953. That’s down just two thousand dollars from where it was at the close of the same week last year. The four-week median price slipped lower losing two thousand dollars on the week to settle at $338,000 for a year-over-year loss of six thousand dollars.

Once again, there were no sales recorded at a price above the seller’s list price, but five deals did go through at full price. The remaining 48 sales closed below the asking price and netted those buyers an average discount of $14,556, a figure that is somewhat skewed by large dollar discounts on the big stuff that traded hands this 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 real estate week in review: September 3-9, 2017

Saskatoon real estate sales fell lower this week, partly due to a shortened work week. Local agents reported 56 firm residential transactions to the Saskatoon multiple listing service®, down from 77 the previous week for an annual decline of nine homes. On the heels of a particularly quiet listing week, the number of new listings brought to the MLS® spiked to 167. That’s 40 more properties than hit the system the previous week, but it’s well below the 190 that came on the market during the same period last year.

The total number of Saskatoon homes available to buyers through the MLS® inched lower for the third consecutive week. As of this morning there are 2104 active residential listings, down just eight from last week’s close, and up five percent from a year ago when 2004 properties were showing an active status on the system. Year-over-year increases to the inventory have been moderating over the past few weeks and will very likely trend lower as the weather cools. A closer look at the major categories shows single-family homes at 1218, up from 1102 last year. Condos are at 788 which is up by 54 units annually.

Stronger activity at the upper end of the Saskatoon real estate market brought a jump of more than twenty thousand dollars to both the weekly median price, and the weekly average. They closed the period at $349,950 and $351,698 respectively. The six-week average price grew roughly twenty-five hundred dollars from last week to reach $340,395 to record an annual drop of just over eleven thousand dollars. The four-week median price rebounded nearly 20K to reach $340,000 matching the number recorded at the close of the same week last year.

Sellers who may have been dreaming of a bidding war that would lead to a deal above their asking price were left disappointed as no overbid sales were reported. Seven deals did close at the asking price. Meanwhile, 49 of this week’s buyers broke away from the negotiating table having ground out a discount that averaged $13,466. While that is one of the largest average underbids we’ve seen in quite some time, it’s skewed by some larger discounts included an $800,000 sale with an asking price of $850,000.

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: August 27 – September 2, 2017

The Saskatoon real estate market closed the week with 77 firm residential deals, up 13 from the previous week and down five when compared against the same period last year. The number of new listings that were added to the multiple listing service® slipped lower for the fourth consecutive week as just 127 Saskatoon homes were added, down from 160 a week earlier. Looking back to the same period last year, there were 207 residential listings added to the MLS®.

The number of Saskatoon homes available for purchase through the MLS® took its largest single week drop this year as a hefty number of month end expired listings drove numbers down to 2112, a drop of 123 properties from last week. That’s still well ahead of last year’s numbers when just 1,986 properties were for sale. Today’s totals include 1212 single-family homes, up from 1090 a year ago, and 795 condominium units, up from 726 at this time last year.

Both the weekly average sale price and the weekly median slipped about 10K from last week to $331,556 and $323,400 respectively. The six-week average fell roughly six thousand dollars from last week to $337,708 which is done about twenty thousand dollars on an annual basis. The four-week median slipped from $335,000 last week to $322,000 by the close of business on Friday, that number also down from the same week last year by 13K.

Like the previous week, just one seller managed to wrap up a deal with a modest overbid of $100. Six others received and accepted a full price offer. On the flip side of the negotiating table, 70 sellers agreed to a sale at less than their asking price. The buyers involved in those deals netted an average discount of $11,701.00.

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: August 20-26, 2017

Saskatoon real estate sales numbers fell lower for the second week in a row as local agents reported just 64 firm residential deals to the MLS®, down from 72 the previous week. Sales softened even more on an annual basis. During the same week last year 92 transactions were completed.

New listings for the period also declined. Just 160 Saskatoon homes were offered for sale on the multiple listing service®, down from 181 last week and matching numbers posted at the close of the same week last year.

Total active MLS® listings slipped lower to 2235, down slightly from the 2253 Saskatoon homes that were available a week earlier. On an annual basis, we are up by 187 homes from a year ago. Today we have 1276 single-family homes for sale, up from 1107 last year. Condo inventory is at 848, considerably higher than the 770 listings that were on the system last year.

Fewer upper end home sales combined with strong activity at lower price points brought the weekly median price considerably lower this week to $331,700. The average sale price also tumbled lower to $343,108. The six-week average price slipped a few hundred dollars from the week before to $338,047. That’s down just over 20K from a year ago. The four-week median price edged up to $335,000 for an annual loss of just three thousand dollars.

One seller managed to wrap up a deal at $100 above their asking price, while six others found a buyer willing to pay the asking price. The remaining 57 sales were reported to have sold at a discounted price, $11,421 below list on average.

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