Saskatoon real estate agents reported 94 firm residential sales to the multiple listing service® this week, up by seven units when compared to the previous week, and higher annually by 37 sales. 

As February draws to a close, 630 Saskatoon homes have already traded this year. That amounts to a 40 percent increase over the same period last year.

The new listing activity saw a welcome spike as 164 Saskatoon homeowners offered their homes for sale on the MLS®. That’s higher than last week by 45 units, and up annually by 29. 

New listing activity year-to-date is at 1141, up from 1101 for the first two months of 2020.

The inventory of active Saskatoon real estate listings saw its largest single-week gain for 2021. They grew from 1044 last week to 1078 today. On an annual basis, active listings fell by 260 units.

Today, there are 464 single-family homes showing an active status on the MLS®. That’s higher than it was last weekend by 15, and sharply down from 816 a year ago. Condo inventory is at 546 today, up by four from a week ago, and up by roughly ten percent annually from 492. 

30-day sales grew again as they have each week this year, this week reaching 385.

Here’s what “months of supply” look like across the broader market, and by category.

All residential - 1078 active listings / 385 sales = 2.8 month supply (Lower than last week by 0.1 months. Seller’s market conditions).

Single-family homes - 449 listings / 246 sales = 1.8 month supply (Down 0.1 months from last week. Extreme seller’s market conditions).

Condos - 546 listings / 116 sales = 4.7 month supply. (Balanced market, now for the fourth week in a row, and this week falling by 0.5 months).

Strong activity with homes priced above $500,000 pushed the weekly median price and the weekly average price higher to $365,950 and $370,318 respectively.

Taking a longer view, the six-week average price grew to $350,106 for a weekly increase of just under five thousand dollars and finished up annually by 24K. Meanwhile, the four-week median price jumped 15K from last week to reach $340,000 for a year-over-year increase of $21,000.

A smaller percentage of sales attracted bids that exceeded the seller’s asking price than we saw last week. That number fell to eight from 11. The average overbid also fell lower to $5,463. That’s about two thousand dollars lower than it was the previous week. On the other hand, 71 of this week’s 94 sales closed at a price below the listed price by an average of $9,414.

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.

More weekly stats and numbers for those who love them. 

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 over 350,000 user sessions in the past year and displayed more than three 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

The Saskatoon real estate market continued to simmer pretty well this week with local agents reporting 87 firm residential sales to the multiple listing service®. That is seven fewer trades than we saw the week before and 28 more sales than were processed over the same period last year.

After hitting the high point for 2021 last week, the new listing activity took a hard fall, dipping to just 119 units. While lower on a weekly basis by 47 properties, we were considerably higher annually. Over the same week last year, Saskatoon real estate agents brought in just 73 residential real estate listings.

Active listing inventory once again failed to get any upward traction. Instead, we finished the week down by 10 units. There are currently 1044 active listings in the residential category, down by 333 units from where we sat a year ago,

There are now 459 single-family homes appearing as active, up 16 from last week’s close, and down from 792 a year ago. There are 542 Saskatoon condos bearing an active status on the MLS®. That’s three fewer than we had a week ago, but higher annually by 41.

30-day sales grew again and are now at 363. 

Here’s what “months of supply” looks like across the broader market, and by category.

All residential - 1044 active listings / 363 sales = 2.9 month supply (Seller’s market conditions).

Single-family - 449 listings / 236 sales = 1.9 month supply (Extreme seller’s market conditions).

Condos - 542 listings / 104 sales = 5.2 month supply. (Balanced, and improving now for the third week in a row).

The entry-level market was highly active this past week producing 19 sales below 200K, most of them condominiums. This activity brought the weekly median price lower to $313,750. Still, the average sale price for the week managed some small gains, thanks to a big sale at $1.6 million. It came in at $352,610.

The six-week average took a small dip falling close to two grand and settling at $345,474. That’s higher than it was at this time last year by fifteen thousand dollars.

The four-week median price grew by 5K weekly to hit $325,000 for an annual gain of $4,625.

The number of sellers who closed a deal at a price that exceeded the asking price remained steady at 11. Those sales netted the sellers an average bonus of $7,408. That’s 50% higher than it was last week. On the flip side of the negotiating table, we saw 67 sales close below the asking price with a net average discount of $13,467. That number is skewed higher as a result of the $150,000 discount on the highest priced sale for the week. Take that one out of the picture and the average looks more like $11,000.

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.

More weekly stats and numbers for those who love them. 

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 over 350,000 user sessions in the past year and displayed more than three 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

Following a modest dip in sales last week, home sales activity ramped up again. Saskatoon real estate agents reported 94 firm sales to the multiple listing service® to reach a new weekly high for 2021. This week’s numbers are up 17 units from last week and exceed sales for the same week last year by 41.

New listings also came on strong climbing from 147 last week to 166 for the current period and recorded an annual increase of 41. 

The inventory of active MLS® listings inched up to 1053, higher by just two dozen units from the close of the previous week, and down from 1382 a year ago.

Today’s numbers include 443 single-family detached homes, up by two from last week, and down from 805 a year ago. Condo inventory sits at 545, up 14 from last week, and further up by 42 when compared to units available at this time last year.

That said, 30-day sales took another big leap climbing from 315 last week to 347 for the current period.

Let’s have a look at “months of inventory.”

All residential - 1053 listings / 347 sales = 3 month supply, down from 3.3 last week. (Seller’s market conditions)

Single-family - 443 listings / 228 sales = 1.94 month supply (Extreme seller’s market conditions)

Condos - 545 listings / 96 sales = 5.7 month supply. (Balanced for the second week in a row)

After reaching an annual high last week, the weekly median sale price moved up again, this time to $333,950. The weekly average price also edged higher, gaining just a few thousand dollars to hit $346,368.

The six-week average grew by less than a thousand dollars to reach $347,109. That’s 23K ahead of where it was a year ago. The four-week median price fell lower to $320,000 for a weekly decline of $5,000 and an annual drop approaching thirteen thousand dollars.

The number of overbid sales grew to 11 this week. Those deals closed at, on average, $4,973 above the list price. Meanwhile, 73 of this week’s 94 sales reported a sale price that was below the seller’s asking price by an average of $11,563.

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.

More weekly stats and numbers for those who love them. 

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 over 350,000 user sessions in the past year and displayed more than three 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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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 over 350,000 user sessions in 2020 and displayed more than three 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

After four consecutive weeks of gains, unit sales slipped modestly. Saskatoon real estate agents reported 77 firm residential sales to the multiple listing service®. That’s down three sales from the previous week, but up annually by 16.

The number of Saskatoon homes listed for sale over the last week grew to 147, thanks in part to the 58 listings that came to the end of their term as January closed, many of which returned to the system as a new listing. This week’s new listing numbers are up 19 from the previous period, and higher annually by 27.

Of course, the month of January came to a close this week with a total of 278 Saskatoon homes trading through the MLS®. That amounts to an increase of 27 percent compared to January of 2020 when 219 homes sold.

Once again, the database of active Saskatoon real estate listings failed to make gains. This week they actually slipped to 1029, down six from the previous week’s close.

According to my research, today we have just 441 single-family homes showing an active status on the MLS®. That’s 10 fewer than we had a week ago, and down 335 units, or 43 percent from this time last year. Condo inventory sits at 532 today, up by four from a week ago, and further up by 31 when compared to numbers recorded at the close of the same week last year.

Thirty-day sales saw another large spike as the last of the holiday week sales fell out of the equation. Over the past month, we’ve seen 315 sales. 

1029 active listings / 315 sales = 3.3 months of supply, down from 3.6 months at last week’s close.

That brings our supply of detached single-family homes to a new low of just 2.1 months. Condos showed some growing strength as 30-day sales grew to 86. That gives us a 6.1 month supply which is approaching a more balanced territory. Just last week this measure was greater than seven months.

A bit more activity in the highest price ranges brought the weekly median sale price to its highest point this year, $325,000. The average sale price for the week edged up slightly to $342,873.

The six-week average price increased by three thousand dollars from last week to reach $346,670. That’s up annually by roughly twenty-two thousand dollars. 

The four-week median price grew by $2,750 from last week to reach $315,000. That’s lower than it was at this time last year by ten thousand dollars.

Overbid sales increased by one this week, to nine. Those sellers saw an average bonus of $3,661 which was well down from last week’s average of $8,975.

Buyers fared well and managed to negotiate an average discount of $9,067 on the 61 of 77 sales that did report a sale price below the listed price.

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.

More weekly stats and numbers for those who love them. 

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 over 350,000 user sessions in the past year and displayed more than three 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