Saskatoon home sales continued at near peak levels this week as local REALTORS® reported 137 homes firmly sold to the multiple listing service®. That was up from last week by five and higher than the same week last year by 40.

New listings also came on strong with 255 Saskatoon home owners offering their property for sale. That’s the third-highest volume listing week this year, eight more than last week and up by 46 compared to new listing volume over the same period last year.

Active listing inventory grew again, now for the 14th consecutive week to reach a new annual high of 1560 homes. That’s higher than last week’s close by 39 units, but more interestingly, it’s higher than it was at the close of the same week last year by 23 listings.

This is the first time that inventory numbers have been higher than what was recorded the year before since March of 2016. Inventory numbers have been on a slow and steady declining trend since that time. 

There are currently 744 single-family homes for sale in Saskatoon, well up from 703 last week, and down from 886 at this time last year. Condo numbers slipped by two this week to 707, which is higher annually by 128 units.

The number of homes to sell over the past 30 days grew from 573 a week ago to 581 today.

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

All residential - 1560 active listings / 581 sales = 2.7 month supply. (the same as last week, and still very much a seller’s market).

Single-family homes - 744 listings / 388 sales = 1.9 month supply (Up by 0.1 months from last week, and higher by 0.2 months the week before. Extreme seller’s market conditions).

Condos - 707 listings / 150 sales = 4.7 month supply. (Down 0.2 months from last week and now the 17th consecutive week in which condos are in a balanced market territory).

A flurry of upper-end activity (23 sales over $500K this week) drove the weekly median price higher by 20K to $370,000. Two of those sales averaged more than $1.4 million and that pushed the weekly average price up by 15K to $383,619.

The four-week median price increased nearly $10,000 this week to hit $369,900. That’s up forty thousand dollars from a year ago. The six-week average price edged up about $700 from last week to reach $379,745. It’s higher than it was at this time last year by roughly $32,000.

Overbid sales fell slightly lower to 26 this week as the average overbid fell about $500 to $10,464. Meanwhile, 94 of this week’s 137 sales recorded a price below the seller’s list price by an average of $11,436.

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.

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 generate solid sales numbers this week. Local REALTORS® reported 132 homes sold, down just one from last week, and up by 41 sales when compared to numbers recorded over the same week last year.

New listings were also strong with 247 properties hitting the MLS® system. That’s down for the second week in a row, this time falling by 19, but still way up from last year when just 167 Saskatoon homes were offered for sale.

For the 13th consecutive week, active listing inventory numbers grew, this week reaching 1521. 

That’s up by 32 from last week, and just one listing short of levels reached by the close of the same week last year. Next week we will see inventory that is higher annually for the first time since March of 2016.

Today, Saskatoon home buyers can find 703 single-family homes showing an active status on the MLS® system. That’s higher than last week by six and lower annually by 174.  We also have 709 active condo listings, up by 15 from last week’s close, and higher than it was at this time last year by 150 units.

The number of homes to sell over the past 30 days slipped from 588 last week to 573 this week.

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

All residential - 1521 active listings / 573 sales = 2.7 month supply. (Up by 0.2 months from last week, and still very much a seller’s market).

Single-family homes - 703 listings / 393 sales = 1.8 month supply (Up by 0.1 months from last week. Extreme seller’s market conditions).

Condos - 709 listings / 145 sales = 4.9 month supply. (Up 0.3 months from last week and now the 16th consecutive week in which condos are in a balanced market).

The weekly median price fell lower for the second week in a row, this time to $350,750. The weekly average sale price fell even more to $365,372.

The four-week median sale price slipped for the second week in a row and settled at $360,000. That’s lower than last week by a bit more than nine thousand dollars, but up 22K annually. The six-week average price came off of the peak it hit last week and slipped about two thousand dollars to settle at $379,090 which is higher than it was at this time last year by more than forty-two thousand dollars.

The number of homes to sell for more than the asking price remained steady at 28. Those homes sold, on average for $11,011 more than the listed price. Another 93 sales reported a price that was below the seller’s asking price by an average of $11,453.

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 homes sales remained stable this week as REALTORS® reported 133 firm trades to the multiple listing service®. That was bang on even with last week, and well up from the 76 sales recorded over the same period last year.

New listing activity fell lower to 266, down from 294 last week and higher annually by 93 homes. It was the second-largest listing week this year. The number of new listings taken over the past two weeks sits at 559, which is more than we saw over the entire month of May last year when new listings totaled 494.
 

This week, active listing inventory again took one of its largest weekly gains as it moved higher by 52 units to reach 1489. It closed the week lower annually by just 15 properties. 

By next week’s close, we will almost certainly find our listing inventory up on a year-over-year basis for the first time since August of 2016.

Today, we have 697 single-family homes for sale, up 18 from a week earlier, and down by 165 when compared against levels recorded at the close of the same week last year.

Additionally, there are 694 condos for sale. That’s an increase of 22 from last week, and higher annually by 131.

A few weeks ago, I predicted that 30-day sales had reached their peak for the year and would likely begin to decline. They slipped again the following week and then spiked back up to match the previous peak. This week they inched even higher to set a new record for this year at 588 sales.

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

All residential - 1489 active listings / 588 sales = 2.5 month supply. (The same as last week and still very much a seller’s market).

Single-family homes - 697 listings / 410 sales = 1.7 month supply (Extreme seller’s market conditions).

Condos - 694 listings / 150 sales = 4.6 month supply. (The same as last week and now the 15th consecutive week in which condos are in a balanced market territory).

The $200,000-$300,000 was particularly brisk and that helped brought the weekly median price lower to $360,000. High-end activity remained strong this week with 20 sales reporting a sale price above the $500,000 mark. Despite that activity, the weekly average sale price fell lower to $380,012.

The six-week average price forged higher to reach a new weekly high of $380,900. That’s ahead of last week’s close by more than $5,000 and higher annually by $45,540. The four-week median price also reached a new record this week at $382,295. That’s up from $370,000 the previous week and higher annually by $44,000. It’s worth pointing out that upper-end activity was pretty weak at this time last year. In fact, a year ago, we were reaching the bottom of a five-week price slide that began around the middle of April when there was still a lot of confusion about the ramifications of COVID.

Overbid sales fell by three this week to settle at 28. Those lucky sellers saw an average bonus of $10,882 above their asking price. Meanwhile, 91 sales reported a sale price below the seller’s asking price by an average of $10,402.

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 306-241-6676 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra

The Saskatoon real estate market continued to cook this week.

Local REALTORS® reported 133 Saskatoon homes sold through the multiple listing service®. That’s an increase of three compared against last week’s numbers and well up from the 49 deals that firmed up over the same week last year.

New listing activity hit a new weekly high for the year as 293 residential properties hit the market. That’s more than the previous week by 70 units, and up from 184 for the same period last year.
 

The inventory of Saskatoon homes showing an active status on the MLS® saw its largest week-over-week gain as it increased from 1369 to 1437, to reach a new annual high. Our current level of inventory is just 35 units below those counted last year at this time.

Today, there are 679 single-family homes for sale in the city, up 27 from a week ago, and lower than last year by 178. Condo inventory grew to 672 for a weekly increase of 30 and an annual jump of 130.

After falling lower for two consecutive weeks, 30-day sales spiked higher from 550 last week to 581 this week to regain all of the losses it took last week. The high point for the year is 585 units sold over 30 days.

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

All residential - 1437 active listings / 581 sales = 2.5 month supply. (The same as last week and still very much a seller’s market).

Single-family homes - 679 listings / 406 sales = 1.7 month supply (The same as last week. Extreme seller’s market conditions).

Condos - 672 listings / 146 sales = 4.6 month supply. (This is higher than last week when it had come down to just 4.4 months and now the 14th consecutive week in which condos are in a balanced market territory).

In last week’s report, I said that “entry-level activity was brisk…”. 

This week, strong upper-end activity, and a significantly lower number of deals below the 200K mark pushed the weekly median price higher to $389,900. With nine sales at a price that topped $700,000, the weekly average price grew even more to $415,054.

The six-week average price reached a new high of $375,466, higher than it’s been for any week in at least 7 years. That number is up about nine thousand dollars from last week, and higher annually by 28K.

The four-week median price also grew ten thousand dollars from last week’s close to reach $370,000. That’s $42,500 higher than it was at the close of the same week last year.

This week, 31 Saskatoon home buyers ended up paying more than the seller’s asking price by an average of $8,393. Meanwhile, 86 deals were closed below the asking price with an average discount of $12,498.

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. 

Thanks so much for reading.

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

For the second week in a row, the Saskatoon real estate market showed signs of modest softening. More on that in a bit.

Local REALTORS® reported 130 homes sold, down 11 from last week but ahead of the same week last year by 61.

As the month of April drew to a close, the annual sales tally had reached 1,748 home sales, up from just 934 by the same time last year. Of course, last year’s spring market was devastated by early COVID concerns, but still, 1,748 is an all-time record for the first four months of any year.

New listings remained stable as 223 Saskatoon home sellers placed a for sale sign on their property. That is the same number as the week before and up by 76 units when compared against the same period last year.

Active listing inventory inched just slightly higher as it grew by four from the previous week’s close reaching 1369. That’s down from last year by just 25 units. I had expected that inventory would surpass last year’s levels, and there’s still a good chance of that happening, but growth has really slowed over the past few weeks.

This week, the inventory of single-family homes grew enough to surpass condo numbers for the first time in a few months. There are now 652 detached homes for sale in Saskatoon, up 14 from last week and down 155 from a year ago. Condos are at 642 units, down seven from last week, and up 126 annually.

30-day sales slipped lower for the second consecutive week to show signs that our spring market, which arguably started early, is beginning to wind down. The numbers dropped by nearly five percent as they fell from 581 last week to 550 today.

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

All residential - 1369 active listings / 550 sales = 2.5 month supply. (Up from 2.3 months last week and still very much a seller’s market).

Single-family homes - 652 listings / 377 sales = 1.7 month supply (Up from 1.6 months last week. Extreme seller’s market conditions).

Condos - 642 listings / 146 sales = 4.4 month supply. (This is higher than last week when it had come down to just 4.1 months and now the 13th consecutive week in which condos are in a balanced market territory).

The entry-level activity was brisk this week. With 40 sales reporting a price of less than $250,000 both the weekly median price and the weekly average fell lower to $339,000 and $354,313 respectively.

After pushing to new peaks, the four-week median price and the six-week average price both slipped lower. 

The four-week median fell to $360,322. That’s down over ten thousand dollars from last week but up by $35,000 from a year ago.

The six-week average price slid to $366,471 for a weekly decline of roughly five thousand dollars, but up about $19,000 annually.

Buyer frustration was apparent as the percentage of sales that went for more than the seller’s asking price reached a new peak. There were 35 such sales this week with an average overbid of $10,814. Another 81 Saskatoon homes sold below the listed price by an average of $9,416.

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

Last week, I came across a listing that could only be shown on Saturdays and Sundays between 2 and 4 pm.

It got me thinking about the importance of providing easy access to REALTORS® and their buyers, especially in a fast-paced, high-demand market like this one.

Any seller who wants to achieve a top-dollar sale on their home is wise to make a plan to accommodate two to three days of unfettered access.

Those first few days on the market may be a great time for a short staycation at one of our beautiful hotels. You can relax by the pool and let the showings unfold at home.

If you’re selling a tenant-occupied home, consider sending them on a similar staycation.  For under a thousand dollars you can provide them with a few nights in a hotel and a few meals.

The additional showings will very likely return that money, and more. It will also take a lot of stress off of everyone involved.

Happy selling!

________________________________

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 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra