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For the second consecutive week, Saskatoon real estate sales numbers hit triple digits. Local REALTORS® reported 102 firm residential trades to the MLS® system this past week, down two from the week before, but well up from 70 deals over the same week last year.


New listing numbers also rose as 127 Saskatoon homes were offered for sale on the multiple listing service®. That’s up just five from the week before, and down two from the same period of 2019.


Saskatoon real estate sales and listing stats for the week of October 24-30, 2020



The number of active residential listings available on the MLS® dropped to its lowest level since late February. As of this morning, there are 1367 properties showing an active status on the system, down 61 from last week’s close, and further down from 1625 a year ago.


Available single-family homes fell to 721 for a weekly drop of 40, down annually by 334. Condo inventory is lower by 23 from last week’s close but higher by 13 on a year-over-year basis.


Active Saskatoon real estate listing on the MLS at October 30, 2020



Both the weekly average sale price, and the weekly median sale price slipped lower to $350,493 and $327,750 respectively.


The six-week average price took an upward turn to finish the week at $350,493. That amounts to a weekly increase of just under three thousand dollars and an annual gain of more than 28K. The four-week median price took its third consecutive weekly drop to finish up at $331,250. That’s lower than last week by roughly five thousand dollars but higher annually by $15,250. That’s the lowest year-over-year increase since last July.


Average and median prices for Saskatoon homes sold October 24-30, 2020



Overbid sales were back on the board in a serious way. This week, ten sellers wrapped up a deal for more than their asking price by an average of $6,911. Three of ten overbid sales were in the five-figure range and that skewed the average solidly. 86 of the week’s trades went for less than the asking price delivering an average discount of $12,238 to those buyers.


Here is a breakdown of what the sales to listing price ratio looked like on this week’s sales. Please note that this chart may show over list price sales, even when I have reported the number as 0. Those sales are typically new properties that spent some period of time on the market, and most likely sold and included additional improvements that were not reflected in the original list price. For example, a new home listed at $450,000 sells at a price of $490,000 after 120 days on the market may have included a basement development that was not anticipated in the listing 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.


Sale price to list price ratios for Saskatoon homes sold through the MLS the week of October 24-30, 2020


More weekly stats and numbers for those who love them. 


Saskatoon real estate statistics for MLS home sales from October 24-30, 2020



Follow me on Facebook and Instagram to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.


TeamFisher.com hosted nearly over 330,000 user sessions in the past year and displayed more than 2.8 million pages to our visitors. If you have a Saskatoon area home you'd like to sell, we know how to get people looking at your home. Reach out to me directly to engage our team and learn about our processes.


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


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Saskatoon home sales bounced back into the three-figure territory for the first time in four weeks. Local real estate agents reported 104 firm sales, up from 95 last week, to top sales for the same week last year when just 63 trades were reported. This is the 20th consecutive in which sales met or exceeded those recorded over the same period last year.


New listing activity continued to cool. Over the past seven days, 122 new residential listings were added to the MLS®. That amounts to a weekly decline of eight listings and a drop of four from the same week in 2019. It’s the third consecutive week in which new listings moved lower, and the first week in six that new listings fell annually. 


Saskatoon real estate sales and listing stats for the week of October 17-23, 2020



The inventory of active MLS® listings dropped to 1428, down 38 from last week’s close. At this time last year, Saskatoon home buyers had 1726 listings to choose from.


While condo inventory fell lower on a weekly basis, we are now recording annual gains as levels grew to 591 from 580 a year ago. The number of single-family homes dropped to 761 for a weekly decline of 31 units, to find itself down 304 units annually.


Active Saskatoon real estate listing on the MLS at October 24, 2020



Far fewer trades below the quarter-million-dollar mark brought both the weekly median price and the weekly average higher to $339,500 and $354,338 respectively.


Those weekly gains were not enough to keep either of the longer-term price measures from slipping lower. The six-week average price fell three thousand dollars to settle at $353,135. That was enough to claim a year-over-year increase of 27K. The four-week median price fell for the second week in a row to $336,000. That’s a six thousand dollar change from last week. It remains higher annually by roughly twenty-thousand dollars.


Average and median prices for Saskatoon homes sold October 17-23, 2020



Overbid sales fell to just two, with one of the two sellers picking up a $40,100 bonus on top of their asking price. The other saw an offer that exceeded the list price by $100. Meanwhile, 91 of 104 trades closed below the asking price and netted those buyers an average discount of $13,378.


Here is a breakdown of what the sales to listing price ratio looked like on this week’s sales. Please note that this chart may show over list price sales, even when I have reported the number as 0. Those sales are typically new properties that spent some period of time on the market, and most likely sold and included additional improvements that were not reflected in the original list price. For example, a new home listed at $450,000 sells at a price of $490,000 after 120 days on the market may have included a basement development that was not anticipated in the listing 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.


Sale price to list price ratios for Saskatoon homes sold through the MLS the week of October 17-23, 2020


More weekly stats and numbers for those who love them. 


Saskatoon real estate statistics for MLS home sales from October 17-23, 2020


Follow me on Facebook and Instagram to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.


TeamFisher.com hosted nearly over 330,000 user sessions in the past year and displayed more than 2.8 million pages to our visitors. If you have a Saskatoon area home you'd like to sell, we know how to get people looking at your home. Reach out to me directly to engage our team and learn about our processes.


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


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Don’t kill the climax.


For a home buyer, possession day should be a fun and exciting experience.


There are always a lot of moving parts and things can happen, but this works best when everyone concerned does what they can to make it as pleasant as possible.


I’ve noticed a growing number of possession day issues lately. I think it’s probably related to the fact that many sellers have had to sell at a loss. Perhaps they let a little bitterness creep in, and that gets directed at the buyer.


Maybe they justify taking a fixture that they shouldn’t remove because “the buyer got a good deal”. Maybe they leave garbage and other crap at the house when they leave or fail to give the place a good cleaning.


Please remember, it’s not the buyer's fault that the market fell. In fact, they came along and cleared the way for you to move into the next chapter of your life without the burden of having to manage a home that you can live it.


Wrap this up properly and honourably.


Don’t kill the climax.



Transcript

I was talking to a colleague of mine the other day about what we both perceive to be a growing number of possession day problems. Buyer shows up not happy with what they found.


And we surmised that this is likely happening because so many sellers have been selling their home at a loss. The market's been moving down for four or five years. They need to get out and move elsewhere, and they're having to sell for less than they paid for it. And our human minds are really built for rationalization. And it's so easy to come to the conclusion that hey, this buyer got a good deal, and they should be happy with this house just the way it is.


But you know, that's not the right way to look at it. It's not the buyer's fault that the market fell and your investment is worth less today. They actually paid you market value for it, and you should treat them that way.


So how should you prepare for a possession date so that your buyer's experience ends in a good way?


Number one, don't take anything that you shouldn't take out of the house. If it's attached to the property, it's a fixture and it's expected to be there, and if it's not, the buyer is going to be disappointed. And it may even lead to a legal issue.


Secondly, do take everything that isn't attached, unless you have an explicit agreement for it to remain. A buyer is not interested in your grandma's old deep freeze or cans of paint that haven't been open for 15 years, or little bits of two by four that are laying around in your garage. Hire a hauler and get that stuff out of there, please, so that it's empty for their move.


And finally, clean the house as if you would if you were moving in, so, you know, washing out cabinets, cleaning the bathroom, cleaning up the floor. Create an environment where the buyer can begin to move right away and enjoy the home. They did relieve you of this financial responsibility and allow you to move on to where you're going next.



________________________________


Follow me on Facebook and Instagramto receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.


TeamFisher.com hosted nearly a quarter of a million user sessions and displayed more than 2.8 million pages to our visitors. If you have a Saskatoon area home you'd like to sell, we know how to get people looking at your home. Reach out to me directly to engage our team and learn about our processes..


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

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Canadian home sales and prices set records again in September 2020: CREA

The Canadian Real Estate Association (CREA) recently released national sales statistics for September of 2020.


According to the report, "Statistics released today by the Canadian Real Estate Association (CREA) show national home sales set another record in September 2020."


"Home sales recorded over Canadian MLS® Systems edged up a further 0.9% between August and September, raising them to yet another new all-time monthly record.".


"Many Canadian housing markets are continuing to see historically strong levels of activity as we enter into the fall market of this very strange year," stated Costa Poulopoulos, Chair of CREA. "Along with historic supply shortages in a number of regions, fierce competition among buyers has been putting upward pressure on home prices. Much of that was pent-up demand from the spring that came forward as our economies opened back up over the summer. With second wave worries growing, we will remain vigilant in adhering to government and health officials’ directives to keep our clients safe. Now as always, REALTORS® remain the best source for information and guidance when negotiating the sale or purchase of a home,” continued Poulopoulos.


 Highlights of CREA's report

  • National home sales rose 0.9% on a month-over-month (m-o-m) basis in September.

  • The actual (not seasonally adjusted) activity was up 45.6% year-over-year (y-o-y).

  • The number of newly listed properties fell back by 10.2% from August to September.

  • The MLS® Home Price Index (HPI) rose 1.3% m-o-m and was up 10.3% y-o-y.

  • The actual (not seasonally adjusted) national average sale price posted a 17.5% y-o-y gain in September.

Read the entire report on Canadian MLS® sales for September of 2020.

________________________________

Follow me on Facebook and Instagram to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.


TeamFisher.com hosted nearly a quarter of a million user sessions and displayed more than 2.8 million pages to our visitors. If you have a Saskatoon area home you'd like to sell, we know how to get people looking at your home. Reach out to me directly to engage our team and learn about our processes.


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

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Saskatoon home sales continue to blaze through September 2020: SRA


The Saskatchewan REALTORS® Association recently released MLS® statistics for September of 2020. The text below is directly from their media release.

Sales in Saskatoon were up 41.0%, going from 305 in September 2019 to 430 in September 2020, and up 54.4% in the overall region, going from 423 to 653. In Saskatoon, sales were 28.4% above the 5-year average (and 23.7% above the 10-year average), while in the larger region, sales were 41.7% above the 5-year average (and 34.2% above the 10-year average). Year-to-Date (YTD) sales in Saskatoon rose 12.3% over last year, increasing from 2,862 to 3,215, while YTD sales in the larger region rose 17.9%, going from 3,847 to 4,535.


Sales volume was up 43.0% in the city, going from $107.7M to $154.0M in 2020 (39.3% above the 5-year average, and 31.3% above the 10-year average). YTD sales volume in the city was $1,110.4M, an increase of 16.6% from last year. In the region, sales volume was up 22.8%, going from $1,213.9M to $1,490.6M (47.8% above the 5-year average and 42.0% above the 10-year average). YTD sales volume increased by 22.8% in the region, rising from $1,213.9M in 2019 to $1,490.6M in 2020.


Saskatoon homes sales by month to September, 2020



In Saskatoon, the number of new listings in September 2020 rose 13.4%, going from 717 to 813 (3.4% above the 5- year average and 4.0% above the 10-year average), while in the region, new listings rose 6.7% from 1,000 last year to 1,067 this year (3.6% below the 5-year average and 1.3% above the 10-year average). YTD new listings in the city fell 4.2%, going from 6,393 to 6,123, while in the larger region, the number of new listings to date fell 6.5%, going from 9,388 to 8,777. Active listings fell 18.0% in Saskatoon (down from 1,906 to 1,563) and fell 22.1% in the region (down from 3,452 to 2,690).


Inventory in Saskatoon stood at 3.6 months (which is 41.8% below the level last year and 38.8% below the 5-year average), while the sales to listing ratio was 52.9%, suggesting balanced market conditions. Inventory in the larger region stood at 4.1 months (which is 49.5% below the level last year and 46.2% below the 5-year average), while the sales to listing ratio was 61.2%, suggesting that market conditions favour sellers.


New and active Saskatoon real estate listings by month to September 2020



Homes in Saskatoon stayed on the market an average of 40 days in Septemberdown 27.3% from 55 days last year (but below the 5-year average of 52 days and below the 10-year average of 46 days). Homes in the region stayed on the market longer than homes in the city at 51 days on average in 2020, but also down from an average of 66 days last year (and 16.7% below the 5-year average).


Median home prices in Saskatoon went from $329,900 to $345,000 (an increase of 4.6%) and were approximately 4.6% above the 5-year and 6.0% above the 10-year average median price. The MLS® Home Price Index (HPI)a more accurate measure of house price trendsis up 1.0% from $319,400 to $322,700. Year-to-date, the median home price in Saskatoon was $331,183 which is 3.1% above the $321,167 price from the same time last year. Median home prices in the region went from $310,000 to $330,000 (an increase of 6.5%) and were approximately 6.5% above the 5-year and 7.0% above the 10-year average median price. Year-to-date, the median home price in the region was $313,614 which is 4.0% above the $301,511 price from the same time last year.


Saskatoon home prices by month and category to September 2020



________________________________


Follow me on Facebook and Instagramto receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.


TeamFisher.com hosted nearly a quarter of a million user sessions and displayed more than 2.8 million pages to our visitors. If you have a Saskatoon area home you'd like to sell, we know how to get people looking at your home. Reach out to me directly to engage our team and learn about our processes..


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

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Saskatoon real estate sales saw a modest increase this week as local REALTORS® reported 95 firm residential trades to the MLS®. That’s up six from last week, and way, way up from just 52 sales over the same period last year. This was the 19th consecutive week in which sales either met or exceeded those for the same week last year and the third consecutive week in which sales fell below 100.


New listings plunged lower to 130 for a weekly drop of 52 units. Still, the week produced more listings than the same week last year by 21. New listings have pretty consistently grown each week since early July (all but two weeks).


Saskatoon residential MLS sales and and new listings for the week of October 10-16, 2020



Active listings inventory slipped lower again, now for the fourth consecutive week. As of today, there are 1466 residential properties for sale in Saskatoon on the MLS®, down 17 from last week’s close. At this time last year, there 1756 homes for sale in the city.


Today’s totals include just 792 single-family homes. That is down 25 units from last week, and well down from 1083 available a year ago. Meanwhile, condo inventory grew by nine over the course of the week to reach 595, also up nine from a year ago. I believe that will be the first time either of the two major categories showed year-over-gains this year.


Sales over the past 30 days continued to trend lower. Looking back a month we see 426 sales, down just seven from last week. “Months of inventory” remained stable at 3.4 for the third consecutive week. 


Active Saskatoon real estate listing on the MLS at October 17, 2020



Solid activity at price points below $250,000 brought the median price for the week sharply lower to $325,000 while an absence of sales above $750,000 helped usher the weekly average price lower to $335,457.


The six-week average price took modest gains, now for the third week in a row, and reached $356,188. The weekly increase of about five hundred bucks leads us to a year-over-year gain approaching 25K. The four-week median price, which has been climbing steadily over the past eight weeks finally saw a drop as it slipped to $342,000. That’s lower than last week by three thousand dollars, but up from the same week last year by a whopping $32,000.


Average and median prices for Saskatoon homes sold October 10-16, 2020



Five lucky sellers closed a deal above their asking price to net an average bonus of $6,480. Meanwhile, 82 of the week’s 95 sales went below list price to deliver those buyers an average discount of $12,401.


Here is a breakdown of what the sales to listing price ratio looked like on this week’s sales. Please note that this chart may show over list price sales, even when I have reported the number as 0. Those sales are typically new properties that spent some period of time on the market, and most likely sold and included additional improvements that were not reflected in the original list price. For example, a new home listed at $450,000 sells at a price of $490,000 after 120 days on the market may have included a basement development that was not anticipated in the listing 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.


Sale price to list price ratios for Saskatoon homes sold through the MLS the week of October 10-16, 2020


More weekly stats and numbers for those who love them. 


Saskatoon real estate statistics for MLS home sales from October 10-16, 2020



Follow me on Facebook and Instagram to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.


TeamFisher.com hosted nearly a quarter of a million user sessions and displayed more than 2.8 million pages to our visitors. If you have a Saskatoon area home you'd like to sell, we know how to get people looking at your home. Reach out to me directly to engage our team and learn about our processes.


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


Read


Transcript


I had a call from a client of mine yesterday who has a townhouse in a pretty attractive area of Saskatoon that they'd like to sell. They've been renting it for the past few years. They've had enough of that. And they'd like to take advantage of the market conditions that exist right now. Fair enough.


So she mentioned that they have two tenants that'll leave at the end of this month. And another two that'll leave at the end of next month. And she asked me about getting it on the market quickly and or whether she should wait until the tenants were gone before we began marketing it.


My answer was the same one that I give in 90% of these cases. You're almost always better off to market a vacant property than one that's tenant occupied.


I mean I've talked about the four factors that you can influence when you want to get a fast top-dollar sale. Preparation and presentation are the most important of those elements. And when you have a tenant living in a property, those areas are always weak. So, you know, tenants don't prepare the house properly for showings and it looks like a chaotic gong show when people arrive or perhaps. You have access issues just because the tenant isn't excited about having it shown and fair enough. You can appreciate why a tenant would not want to put a whole lot of effort into marketing or cooperating with the marketing of your home, right? They don't have any money invested in it and it's a massive infringement on their life to accommodate showings.


So in my view, you're better off to forego a couple of months of rent. Properly prepare the house and perhaps do a little bit of staging and you'll probably see offers that are 10% higher than you would have had you gone ahead and marketed the property occupied.

________________________________


I’ve upped my Facebook and Instagram game. Follow me to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.


TeamFisher.com hosted nearly a quarter of a million user sessions and displayed more than 1.2 million pages to our visitors in 2019. If you have a Saskatoon area home you'd like to sell, we know how to get people looking at your home. Reach out to me directly to engage our team and learn about our processes.


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

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It’s another amazing Saskatchewan fall weekend. To all who celebrate, Happy Thanksgiving to you from all of us at TeamFisher and Royal LePage Vidorra. 


I’m very thankful for your appearance here!


Saskatoon home sales slipped lower for the second week in a row as local real estate agents reported 89 firm residential trades to the multiple listings service®. That number is lower than last week by nine deals but higher than sales recorded for the same week last year by seven. That is the 18th consecutive week in which sales were equal to or greater than those recorded for the same period last year. It has been quite a four-month run.


New listing numbers fell to their lowest level in ten weeks. A total of 152 Saskatoon homes were listed for sale over the past week. That is well down from 183 last week, but up when compared against numbers recorded over the same week last year when 148 residential properties were offered for sale.


Saskatoon real estate sales and listing stats for the week of October 3-9, 2020



The number of homes showing an active status on the MLS® slipped by just one this week to 1483, our lowest number since the end of July. Today’s inventory includes 817 single-family homes, down from 1086 at this time last year, and 586 condos, down just three units from a year ago.


Sales over the past 30 days slipped by just one to 433. That kept our “months of inventory” stable at 3.4, still a very frustrating market for home buyers looking in the more popular price ranges.


Active Saskatoon real estate listing on the MLS at October 10, 2020



The distribution of sales between the upper and lower end of the market remained stable and the median sale price for the week fell just $500 to $342,000. The weekly average price moved higher by about 10K, thanks in part to a single sale at $2.85 million.


The four-week median price pushed marginally higher to set another annual record at $345,000. That’s up just $300 from last week, and higher annually by about twenty-one thousand dollars. The six-week average price also grew by $1400 this week to reach $355,619. It claimed a year-over-year increase of 20K.


Average and median prices for Saskatoon homes sold October 3-9, 2020



Overbid activity fell from seven last week to just four but the average bonus paid to these lucky sellers was solid at $3,850. Meanwhile, 75 of this week’s deals closed below the seller’s asking price and netted those buyers an average discount of $12,295.


Here is a breakdown of what the sales to listing price ratio looked like on this week’s sales. Please note that this chart may show over list price sales, even when I have reported the number as 0. Those sales are typically new properties that spent some period of time on the market, and most likely sold and included additional improvements that were not reflected in the original list price. For example, a new home listed at $450,000 sells at a price of $490,000 after 120 days on the market may have included a basement development that was not anticipated in the listing 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.


Sale price to list price ratios for Saskatoon homes sold through the MLS the week of October 3-9, 2020


More weekly stats and numbers for those who love them. 


Saskatoon real estate statistics for MLS home sales from October 3-9, 2020



I've seriously upped my Facebook and Instagram game. Follow me to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.


TeamFisher.com hosted nearly a quarter of a million user sessions and displayed more than 1.2 million pages to our visitors in 2019. If you have a Saskatoon area home you'd like to sell, we know how to get people looking at your home. Reach out to me directly to engage our team and learn about our processes.


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


Read

 

Transcript

As the real estate market heats up, if you're in the market to buy a home, you're more likely to hear these words. "Sorry, that property's conditionally sold."


When a buyer and a seller agree to a conditional sale, they've basically agreed that if the buyer is able to meet certain conditions within the timeframe that they prescribed, that a real estate deal will happen, and if the buyer's unable to meet those conditions, the sale become null and void. So in about 20% of cases these days, buyers are unable to secure the financing that they thought they could get. If you proceeded to look at that house, write a back-up offer, get an acceptable deal subject to the first one falling through, as soon as that deal went sideways, you'd be next in line and the property would be yours, essentially.


In another 20% of cases, buyers are asking for extensions because they've been unable to meet their conditions within the timeframe that they proposed, and again if a seller enters into a back-up offer with you, they essentially have to move to you if the buyer has been unable to fulfill within the timeframe prescribed. They have an obligation to move forward with your contract. So again, that puts you right at the front of the line in probably 40% of cases.


So when you hear conditionally sold, take that with a grain of salt. It's not sold until it's sold, and I'd give the same advice to sellers as well. Even if you have a conditional sale, you're wise to continue to show your property and entertain interest from other buyers, because there's about a 60% chance that that first offer's gonna come together and it's nice to have a back-up offer in your back pocket in the event that it doesn't.

________________________________


I’ve upped my Facebook and Instagram game. Follow me to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.


TeamFisher.com hosted nearly a quarter of a million user sessions and displayed more than 1.2 million pages to our visitors in 2019. If you have a Saskatoon area home you'd like to sell, we know how to get people looking at your home. Reach out to me directly to engage our team and learn about our processes.


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

Read


Saskatoon real estate sales fell lower this week. Local agents reported 98 firm residential trades to the multiple listing service®, down 12 from last week, but higher by 18 when compared against sales for the same week last year. This is the 17th consecutive week in which sales met or exceeded those for the same week last year (met on one occasion and exceeded on 16 others).


The new listing activity remained strong. As the calendar turned, 85 active MLS® listings expired, so this week’s numbers include many re-listed homes from that lot. In total, there were 183 new listings added to the system. That’s up from 161 last week and higher than numbers reported for the same week last year by 38 homes.


Saskatoon real estate sales and listing stats for the week of September 26 - October 2, 2020




Active MLS® inventory dipped below 1500 as it has at the close of each of the past three months. Today, there are just 1484 Saskatoon homes showing an active status on the MLS® for a weekly decline of 39 units. At this time last year, active listings stood at 1783. 


Included in the inventory are 827 single-family homes, down from 1083 a year ago, and 577 condos, down 23 on a year-over-year basis.


30-day sales are at 434 today, down from 451 last week. With active listings at 1484, that gives us a “months of inventory” level of 3.44 months which is just slightly higher than it was last week.


Active Saskatoon real estate listing on the MLS at October 3, 2020



Healthy activity at price points below the quarter-million-dollar mark helped usher the median sale price for the week lower by nearly 20K to $342,500. That segment also contributed to an even larger drop in the weekly average which came in at $353,955.


The four-week-median price reached an annual high for the second week in a row at $344,700. That’s up seventeen hundred dollars from last week, and higher by nearly 18K on an annual basis. The six-week average price inched upwards to $355,287. That’s just a couple of hundred dollars ahead of the previous week’s close, and about 16K higher than it was a year ago.


Average and median prices for Saskatoon homes sold September 26 - October 2, 2020



Overbid sales came in at seven, down from 11 last week. The average overbid was $6,629 but most of the big bucks were won by two sellers who averaged a 20K bonus. Meanwhile, 79 of the week’s 98 sales went for less than the seller’s asking price, netting those buyers an average discount of $9,674.


Here is a breakdown of what the sales to listing price ratio looked like on this week’s sales. Please note that this chart may show over list price sales, even when I have reported the number as 0. Those sales are typically new properties that spent some period of time on the market, and most likely sold and included additional improvements that were not reflected in the original list price. For example, a new home listed at $450,000 sells at a price of $490,000 after 120 days on the market may have included a basement development that was not anticipated in the listing 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.


Sale price to list price ratios for Saskatoon homes sold through the MLS the week of September 26 - October 2, 2020


More weekly stats and numbers for those who love them. 


Saskatoon real estate statistics for MLS home sales from September 26 - October 2, 2020


I've seriously upped my Facebook and Instagram game. Follow me to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.


TeamFisher.com hosted nearly a quarter of a million user sessions and displayed more than 1.2 million pages to our visitors in 2019. If you have a Saskatoon area home you'd like to sell, we know how to get people looking at your home. Reach out to me directly to engage our team and learn about our processes.


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


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Transcript

Oh, excuse me, I'm having a little celebration here because I just found out that the value of my house, came down 10%.
 
I know that might sound a little bit crazy but hear me out.
 
When I bought this home three years ago, I paid $500,000 for it, and at the time, my ideal forever home was actually $600,000 but I couldn't quite afford it so I opted in, at the $500,000 mark, and lo and behold, over the next three years, the real estate market dropped about 10% in the single-family homes category.
 
So my $500,000 home is now only worth 450,000. Bummer, but hold on, hear me out, there are two sides to this equation. In the meantime, the $600,000 house that I would have loved to have bought then, also dropped 10% in value. So today, I can buy that house for $540,000.
 
So, where three years ago there was a 100,000 dollars spread between the house I bought, and my ideal home, today the spread is only $90,000, thanks to the fact that the market came down.
 
So, if you're moving within the same market and you're making an upward move, especially if it's a modestly upward move, you may be better off to sell your current home at a loss today and take advantage of the loss that the other seller on the more expensive home, is also going to incur.
 
You could wait for the market to recover and for that $450,000 house to go back up to five. But in the meantime that $540,000 house is likely to go back up to 600,000.
 
So make the move now. $10,000 free equity in your pocket, that's something to celebrate
 


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I’ve upped my Facebook and Instagram game. Follow me to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.


TeamFisher.com hosted nearly a quarter of a million user sessions and displayed more than 1.2 million pages to our visitors in 2019. If you have a Saskatoon area home you'd like to sell, we know how to get people looking at your home. Reach out to me directly to engage our team and learn about our processes.


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

Read
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