Saskatoon real estate sales numbers grew again for the second week in a row as local agents reported 141 firm residential trades to the MLS®. That was enough to match our previous annual high of 141 weekly sales that we saw in late March. It’s 12 more sales than were reported last week, and well up from the 51 units that traded hands over the same week last year.

New listings continued to come on the market at a spring-like pace. Another 223 Saskatoon homes were offered for sale, down by 22 from the previous period, and roughly double the number that came on the market this week last year.

The inventory of active MLS® listings grew for the ninth week in a row to reach 1365. That’s higher than last week’s close by ten properties and down annually by just 67 homes.

Today, Saskatoon home shoppers can find 638 single-family homes showing an active status on the multiple listings service®. That’s higher than it was a week ago by 17 and lower annually by 190. Additionally, there are 649 condos for sale, down a dozen from last week’s close, and higher on a year-over-year basis by 118.

30-day sales slipped lower for the first time this year. The sales numbers fell modestly to 581 from 585 the week before. 

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

All residential - 1365 active listings / 581 sales = 2.3 month supply. (Precisely where we stood a week ago. Seller’s market conditions).

Single-family homes - 638 listings / 394 sales = 1.6 month supply (Again, this is the same as last week. Extreme seller’s market conditions).

Condos - 649 listings / 157 sales = 4.1 month supply. (This is down from 4.2 months last week and now the 12th consecutive week in which condos are in a balanced market territory).

The median sale price of a Saskatoon home slipped lower this week by about 5K to settle at $375,000. Meanwhile, the average sale price for the week inched up a few thousand dollars to $376,796.

The six-week average price grew by just over $500 to reach $371,673. That’s up from where it was a year ago by just under $23,000. I believe that to be a record high for this price measure. The four-week median price is also now sitting at a record high of $370,599 up by more than 10K from last week, and higher annually by $50,000. It’s important to note that this particular measure fell sharply last year at this time, an indication that upper-end buyers retreated (early COVID) more quickly from the market than entry-level buyers did.

The number of Saskatoon homes that drew an overbid fell to 24, down ten from the previous week. I see one $20,000 overbid, one at $30,000, and one at $48,000 (wow!). These three sales served to skew the average overbid higher to $11,446. Still, 102 homes traded at a price that was below the seller’s asking price by an average of $9,369.

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 time on the market, 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 for $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 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra

After three consecutive weeks of declines, the Saskatoon real estate sales grew as local REALTORS® reported 129 firm sales to the multiple listing service®. That’s up from 113 last week, and well above the 40 homes that traded over the same week last year.

At the midpoint of April, there were 1447 residential sales reported to the MLS®. That amounts to a 77 percent increase on a year-over-year basis, and I believe it to be a record sales level for any year in Saskatoon’s history. 

New listing activity reached a new weekly peak for 2021 with 241 Saskatoon homes being offered for sale, up from 225 last week, and well more than doubling new listings when compared against the same period last year when they fell to just 101.

Active listing inventory grew higher for the eighth consecutive week to reach 1355. That is up 49 from last week’s close, but lower than where it sat at this time last year by just 63 units. That is the smallest year-over-year decline to the active listings numbers since early March of last year when new listing activity lost momentum due to early COVID concerns.

Today, there are 621 single-family homes for sale in Saskatoon, up from 595 a week ago, and down from 830 annually. There are 661 active condo listings, which is up 18 from last week, and up 147 units from a year ago.

30-day sales grew again increasing from 574 last week to 585 this week.

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

All residential - 1355 active listings / 585 sales = 2.3 month supply. (Precisely where we stood a week ago. Seller’s market conditions).

Single-family homes - 621 listings / 397 sales = 1.6 month supply (Again, this is the same as last week. Extreme seller’s market conditions).

Condos - 661 listings / 156 sales = 4.2 month supply. (This is up from 4.0 months last week and now the 11th consecutive week in which condos are in a balanced market territory).

Solid activity above the $500,000 range pushed the weekly median price and the weekly average sale price higher to $374,000 and $379,803 respectively.

The six-week average price grew to $371,150 to reach a new weekly high for the year, and in fact, forever. That measure grew roughly $5,400 from the week before to finish higher annually by $11,500. The four-week median price took a weekly jump from $355,000 to $360,000. It’s up by $40,000 from where it was at the close of the same week last year.

Sellers had their best week yet this year with 34 of the week’s sales reported having sold at a price that was above the seller’s asking price with an average overbid of $10,009. This number is skewed by a handful of exceptionally high overbids including four sales that went more than 20K above the asking price. Meanwhile, 74 sales closed below the asking price with an average discount of $10,048.

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

Saskatoon real estate sales slipped lower for the third consecutive week. A shortened workweek likely contributed to the sharp drop for this period. Local agents reported 113 Saskatoon homes sold to the multiple listing service®. That number is down 20 units compared with the previous week’s volume, but way up from the same week last year when COVID concerns brought sales to just 34.

New listing activity remained strong, and in fact, close to our annual weekly high. 225 Saskatoon homes were listed for sale, up from last week by 11, and well up from just 87 over the same period last year.

After a brief stall last week, active listing inventory moved higher again, now for the seventh week in a row. It grew by 46 listings to break the 1300 mark for the first time since mid-November. Today, we have 1306 Saskatoon homes for sale, down from 1420 at this time last year. That’s the smallest year-over-year spread since early 2020. It’s looking like we will be seeing annual gains to the inventory in two to three weeks' time.

Single-family home listings grew the most and reached 595. That’s higher than last week’s close by 34 but lower than it was at this time last year by 233 units. We also have 643 condos for sale today, up by 15 from a week ago, and 130 units more than we had at this time last year.

30-day sales grew again increasing from 540 last week to 574 this week.

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

All residential - 1306 active listings / 574 sales = 2.3 month supply. (Precisely where we stood a week ago. Seller’s market conditions).

Single-family homes - 595 listings / 383 sales = 1.6 month supply (Same as last week. Extreme seller’s market conditions).

Condos - 643 listings / 160 sales = 4 month supply. (Down from 4.2 months last week and “balanced” now for the 10th week in a row, and on the cusp of heading into seller’s market territory).

Both the weekly median price and the weekly average sale price headed higher to $355,000 and $376,240 respectively.

After slipping off its peak last week, the six-week average moved higher again and fell short of reaching an annual high by less than $200. It sat at $365,577 by the close of business Friday, for a weekly gain of just over $1,000 and an annual increase of seven thousand. The four-week median price fell lower for the fourth consecutive week. It’s now at $351,750. That’s lower than it was last week by three thousand dollars, but higher annually by nearly 19K.

Overbid sales fell lower to 24, but given the overall decrease in unit sales this week, I believe that to be the highest percentage of total sales for any week this year. Those sales saw the seller net an average bonus of $7,550. Another 75 sales reported a price that was below the listed price by an average of $11,440. 

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 second week of spring brought a steady stream of Saskatoon home sales and new listings.

Local real estate agents reported 133 homes sold to the multiple listing service® for a weekly drop of just one unit, and up from 63 for the same week last year. That’s the third week in a row in which sales more than doubled on an annual basis.

New listing numbers grew by two from last week to reach 214. That too is more than double what we saw enter the market over the same period last year when COVID concerns limited new listing activity to just 103 Saskatoon homes.

After showing strong growth for four consecutive weeks, the total number of homes for sale on the local MLS® system stalled. We closed the week with 1260 active listings, up just seven from last week’s close, and down annually by just 145 units. That is the smallest year-over-year decline since last spring.

Today’s totals include 628 condos, down seven from a week earlier, but up 123 from this time last year. We also have 561 single-family homes, which is higher than last week’s close by 16, and lower annually by 261.

30-day sales grew again increasing from 529 last week to 540 this week.

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

All residential - 1260 active listings / 540 sales = 2.3 month supply. (Lower than last week by 0.1 months. Seller’s market conditions).

Single-family homes - 561 listings / 361 sales = 1.6 month supply (Up 0.1  months from last week. Extreme seller’s market conditions).

Condos - 628 listings / 149 sales = 4.2 month supply. (Down from 4.5 months last week and “balanced” now for the ninth week in a row).

Brisk sales activity for homes priced below $250,000 brought the weekly median price sharply lower to $345,000 while fewer luxury market homes also softened the weekly average price to $350,650.

The six-week average price came off of its annual peak as it dropped just over $1000 to $364,524. That’s roughly fourteen thousand dollars higher than it was at the close of the same week last year.

The four-week median price softened for the third week in a row to settle at $354,700. That’s lower than it was last week by two thousand dollars, but up annually by 22K.

Overbid sales hit their highest level for the year with 25 homes selling for more than the seller’s asking price. The average overbid was $6,840. Meanwhile, 89 of this week’s sales reported a price that was below the seller’s list price by an average of $10,028.

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 for $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