Even as fall set in, Saskatoon real estate agents had a busy week with 80 local home sales reported to the MLS®, up 18 from the previous week. That was enough to match numbers recorded for the same period last year. As September draws to a close, monthly sales numbers exceed those recorded during the same month last year. We only have one business day to report sales for the month but it appears likely that residential sales will post a ten percent gain, or very close to that.

New listing activity slipped lower for the third consecutive week. A total of 149 Saskatoon homes were added to the multiple listing service® this week, down just two from both last week, and the same week last year.

Total MLS® inventory in the residential category inched lower to 1892 for a weekly decline of 17 and an annual drop of 63. As of this morning, 1145 single-family homes are showing an active status on the system. That number is down 13 from last week’s close, but up by 58 when compared to levels recorded on the same day last year. Today, there are 654 condominiums for sale in Saskatoon, well down from the 745 units that were for sale a year ago.

While sales numbers were up sharply compared to last week, the split between the upper end and lower end sales was nearly the same as it was last week. The weekly median price, at $335,000, barely moved at all, even as the average sale price for the week edged lower to $340,615.

The six-week average price fell by less than $600 to $333,294. That’s up about $14,000 from the same week last year. The four-week median price continued its upward trend, now for the fifth consecutive week as it reached $325,000. That’s up 5K from last week and amounts to an annual increase of ten thousand dollars.

Three fortunate sellers got a break at the negotiating table with an above list price sale that delivered an average bonus of $4,733. Two of those homes went for just $100 above list, while the third reported a sale at 14K more than they were asking. It’s my understanding that the price included a number of household items that wouldn’t normally be part of a real estate trade. Meanwhile, 73 of 80 sellers sharpened their pencil and agreed to sell their home at a discount that averaged $13,471.

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.  Reach out by voice or text at 306-241-6676 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra

Saskatoon real estate sales cooled over the past week as just 62 residential trades were reported to the multiple listing service®. Sales were lower than they were the week before by 13 units and down seven from the same week last year.

The number of new listings added to the MLS® fell even more to 151, down from 185 the previous week, and down nine from the same period of 2018.

The total number of MLS® listings available in the residential category remained stubbornly high at 1909. That number is down just three from a week ago. At the close of the same week last year there were 1969 Saskatoon homes for sale. A closer look by category shows that buyers have 1158 detached houses to choose from, up 61 units from a year earlier. There are 657 Saskatoon condos for sale, well down from 745 at the close of the same week last year.

The weekly average sale price moved up about five thousand dollars to $349,897. The median sale price grew by 15K to $334,250. Meanwhile, the six-week average price grew to $333,953 for a weekly increase of $3500 and an annual increase of 13K. The four-week median price grew to $320,000 which is up by five thousand dollars on both a weekly and an annual basis.

The majority of this week’s sales were reported to have sold at less than the seller’s asking price. Buyers netted an average discount of $14,580. Just one seller closed above their asking price with a bonus of $1100 being paid.

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.  Reach out by voice or text at 306-241-6676 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra

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

According to the report, "Home sales recorded via Canadian MLS® Systems advanced for the sixth consecutive month in August. Transactions are now running almost 17% above the six-year low reached in February 2019, but remain about 10% below highs reached in 2016 and 2017."

"That said, national measures of market balance continue to mask significant regional variations. The number of months of inventory has swollen far beyond long-term averages in Prairie provinces and Newfoundland and Labrador, giving homebuyers ample choice in these regions. By contrast, the measure is running well below long-term averages in Ontario, Quebec and Maritime provinces, resulting in increased competition among buyers for listings and fertile ground for price gains. Meanwhile, the measure is well centered in a balanced market territory in the Lower Mainland of British Columbia, making it likely that prices there will stabilize.

Highlights of CREA's report

• National home sales rose 1.4% month-over-month (m-o-m) in August.
• The actual (not seasonally adjusted) activity was up 5% year-over-year (y-o-y).
• The number of newly listed homes climbed 1.1% m-o-m.
• The MLS® Home Price Index (HPI) advanced by 0.8% m-o-m and 0.9% y-o-y.

• The actual (not seasonally adjusted) national average sale price was up 3.9% y-o-y.

Read the entire report on Canadian MLS® sales for August 2019.

Read also: CREA's Housing Forecast for September 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

Saskatoon home sales and listing activity both grew on an annual basis this week. 

Local real estate agents reported 75 firm residential trades to the MLS® this week, up ten from the previous week for an annual increase of three sales.

New listing activity was unusually strong for this time of year, spiking higher for the second consecutive week. A total of 185 properties were added to the multiple listing service®, down seven from last week for a year-over-year increase of 17.

The inventory of Saskatoon homes for sale grew for the second week and cracked the 1900 mark again. Today, there are 1912 active residential listings in our MLS®, up 14 from last week’s close, but down from 1961 a year ago. Single-family homes inventory is at 1168 today, well up from 1086 a year ago. Condo listings fell lower to 647 for an annual decline of 106 units.

The weekly median sale price moved slightly higher this week to $319,000 while the average sale price moved modestly lower to $344,756. 

The six-week average pushed higher to $330,621 and recorded a year-over-year increase for the first time in six weeks. That measure is up nearly 5K from a year earlier. Meanwhile, the four-week median price held steady at $315,000 for the second week in a row for an annual increase of close to three thousand dollars.

Two sellers closed a deal receiving an offer of $100 more than their asking price. Buyers won at the negotiating table as 69 deals closed below list price with an average discount of $15,714. That number was significantly skewed by the Nutana sale that closed at nearly $300,000 below the asking price.

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.  Reach out by voice or text at 306-241-6676 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra

The Saskatoon real estate market cooled this week as we moved closer to fall. Local agents reported 65 firm residential trades to the multiple listing service®, down from 93 the previous week, but up compared to the same week last year when just 51 Saskatoon homes were sold.

New listing numbers spiked higher as many of the previous month’s expired listings came back to the MLS® for another go before winter brings a chill to the market. A total of 192 residential listings hit the market, the highest number for any week since mid-June. That’s higher than the previous week by 41 homes, and ahead of the same week last year by 44.

MLS® inventory increased, as it often does during the opening week of the month when last month’s expired listings are re-processed. As of this morning, there are 1898 active residential listings available in the city, up 29 from last week's close, but down from the close of the same week last year by 68.

As of this morning, there are 1156 single-family homes for sale in Saskatoon, up 32 from a week ago. At this time last year, there were just 1089 detached homes available through the MLS®. Meanwhile, condo inventory is at 643, up just four from last week and down annually by 112 units.

Entry-level buying activity was brisk enough to keep the median sale price for the week well below the average. The median sale price of a Saskatoon home came in at $315,000 to match last week’s numbers, while the average sale price moved higher to $348,105.

The six-week average price inched up just a few dollars from last week to hit $322,900 which is down about 5K from a year ago. The four-week median price grew by five thousand dollars from the week before to close the week up by six hundred dollars, year-over-year.

One lucky seller saw an above list price offer and closed their deal for $10,100 more than the asking price. Aside from a handful of new home sales, 58 of the week’s 65 sales reported a price below the list price by an average of $12,610.

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.  Reach out by voice or text at 306-241-6676 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra

The Saskatoon Region Association of REALTORS® has just released the official home sale statistics for August 2019. I am posting my fancy graphs that tell a bit of the story and I'll add their media release to the comment section when it is out.

Saskatoon homes continued to move at an impressive pace this past week as local agents reported 93 firm residential trades to the MLS system. That number is higher than the previous week by a dozen, and up on the same week last year by 20.

New listing activity slipped lower for the second week in a row. Saskatoon real estate agents brought 145 listings to the multiple listing service, down 13 from last week, and lower annually by five.

The total number of Saskatoon homes for sale on the MLS took a big dive as 91 listings expired at the end of August. This morning, there are 1867 active listings, down nearly 70 from last week’s close. At this time last year there were 1937 active listings.

Today, we have 1124 single-family homes for sale. That's up from 1077 a year ago. Condo inventory is now at 639, down from 673 a year ago.

A bit more activity at the upper end of the Saskatoon real estate market pushed the weekly median price and the weekly average higher to $315,000 and $315,857 respectively.

The six-week average price fell lower for the fifth consecutive week. It closed the week at $322,820 which is down about three thousand dollars from last week, and eight thousand below levels recorded last year.  After five weekly declines to the four-week median price, it grew by 12k to reach $310,000. That’s down five thousand dollars from the close of the same week last year.

Aside from a few new homes sales that reported an above list price sale, no overbidding activity occurred.  Meanwhile, 88 of 93 sales for the week came in below the asking price and netted an average discount of $11,976.

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.  Reach out by voice or text at 306-241-6676 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra