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For the second consecutive week, Saskatoon real estate sales grew, this week by just one to reach 126. That is down 21 from the same week last year when the number of homes sold took a sudden but temporary spike to 147.


New listing activity fell lower, now for the third week in a row. It slipped to 169, a sharp decline from last week when 198 Saskatoon homes came on the market, but higher annually by 21.


Saskatoon residential sales and new listings through the MLS system from July 24-30, 2021



The number of Saskatoon homes for sale on the MLS® sat at 1465 this morning, which is well down from a week ago when a home search would deliver 1512 active listings. It’s also lower than numbers recorded at the close of the same week last year by 18.


In that mix, we have 772 single-family homes, about 25 fewer than there were a week ago and down annually by 73. Additionally, there are 616 Saskatoon condos for sale, down 18 from last week’s close, and up 56 on a year-over-year basis.


After a brief pause and two weeks at the 508, 30-day sales fell lower, this week by 20 units to 488. This is the first time that number has fallen below 500 units in months.


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


All residential - 1465 active listings / 488 sales = 3.0 month supply (the same as last week, and stable for three weeks in a row. Still well into seller’s market territory)


Single-family homes - 772 listings / 298 sales = 2.6 month supply (Higher than last week by just 0.1 months. Strong seller’s market conditions).


Condos - 616 listings / 154 sales = a 4.0 month supply. (down by 0.1 months from last week and right on the border of balanced and seller’s market conditions).


Active residential listings on the Saskatoon MLS on July 31, 2021



Once again, a smaller number of high-end sales, and strong activity in the lower-end condo market, brought both the average price and the median price for the week lower to $356,024 and $343,000 respectively.


The six-week average price which has been trending lower since the middle of June took a small gain. It’s up just a few hundred dollars from last week to $362,895 but higher annually by more than thirteen thousand dollars.


The four-week median price, which reached its high point for the year in mid-May and has been trending lower ever since slipped four thousand dollars to $340,000 and is now up annually by just six thousand dollars.


Average and median prices for Saskatoon homes sold through the MLS from July 24-30, 2021



The divide between overbid and underbid sales were largely unchanged from last week. Once again, 96 homes were reported to have sold below the seller’s asking price by an average of $9,947, which is just six dollars above last week’s average gap between list price and sale price. Meanwhile, there were 17 sales reporting a price above the listed price with an average overbid of $5,688, up by $55 from last week.


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.


List price to sale price ratio of Saskatoon homes sold through the MLS from July 24-30, 2021


More weekly stats and numbers for those who love them. 


Saskatoon real estate statistics for homes sold through the MLS from July 24-30, 2021



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 450,000 user sessions in the past year and displayed more than four 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

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Following three consecutive weeks of declining sales, the number of Saskatoon homes that were reported to the MLS® as having firmly sold grew to 125. That’s up 24 from the previous week, and higher annually by six.


New listings, meanwhile, fell lower to 198, down five from last week, and further down from the same period last year when 218 Saskatoon homes were offered for sale on the multiple listing service®


Saskatoon residential sales and active listings through the MLS for July 17-23, 2021



Our inventory of active residential listings edged lower to 1512, down five from last week’s close, and lower annually by 57 properties.


Today, home buyers can find 797 single-family homes showing an active status on the MLS® system. That’s higher than last week by 11 and lower annually by 78. Condo inventory is at 634 units today, down three from last week, but higher on a year-over-year basis by 29.


Thirty-day sales that had fallen lower in each previous four weeks remained stable this week at 508.


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


All residential - 1512 active listings / 508 sales = a three month supply (the same as last week, still well into seller’s market territory)


Single-family homes - 797 listings / 316 sales = 2.5 month supply (the same last week. Strong seller’s market conditions).


Condos - 634 listings / 153 sales = a 4.1 month supply. (up by 0.1 months last week and edging more into balanced market conditions).


Active Saskatoon real estate listings available on the MLS at July 24, 2021



With a much lower percentage of sales occurring above the half-million-dollar mark, the weekly average sale price and the weekly median both fell lower to $358,892 and $347,000 respectively.


Meanwhile, the six-week average price continued to slip lower, now for the fifth consecutive week. It closed this period at $362,100. That’s lower than last week by just under two thousand dollars but higher annually by $22K.


The four-week median price, which had been trending lower for eight weeks, took an upward turn and grew by nine thousand dollars to reach $344,000. It’s higher annually by $6,500.


Average and median prices of Saskatoon homes sold through the MLS from July 17-23, 2021



The number of Saskatoon homes that sold for more than the asking price jumped to 18, while the average overbid tumbled substantially to just $5,533. A total of 96 homes sold for less than the asking price this week, to net buyers an average discount of $9,941.


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.


List price to sale price ration of Saskatoon homes sold through the MLS from July 17-23, 2021


More weekly stats and numbers for those who love them. 


Saskatoon real estate statistics for homes sold through the MLS from July 17-23, 2021



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 450,000 user sessions in the past year and displayed more than four 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

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Canadian housing market continues to moderate in June 2021: CREA

The Canadian Real Estate Association (CREA) recently released national sales statistics for June of 2021.


According to the report, "Home sales recorded over Canadian MLS® Systems fell by 8.4% month-over-month

in June 2021, marking the third straight monthly slowdown since activity hit an all-time record back in March. While sales are now down a cumulative 25% from their peak, and below every other month in the last year, June transactions still managed to set a record for that month."


"Month-over-month declines in sales activity were once again quite broad-based, with sales moderating in around 80% of all local markets, including almost all large markets across Canada."


 

 Highlights of CREA's report

  • National home sales declined by 8.4% on a month-over-month basis in June.
  • The actual (not seasonally adjusted) activity was up 13.6% year-over-year.
  • The number of newly listed properties edged back by 0.7% from May to June.
  • The MLS® Home Price Index (MLS® HPI) rose 0.9% month-over-month and was up 24.4% year-over-year.
  • The actual (not seasonally adjusted) national average sale price posted a 25.9% year-over-year gain in June. 
 

Read the entire report on Canadian MLS® sales for June of 2021.



________________________________

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


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It’s clear now that the biggest sales week for the Saskatoon real estate market in 2021 is behind us now. For the past five weeks, residential sales have been trending lower, and this week was our softest sales week since the middle of March, just before things fired up for spring. 


During this period, local REALTORS® reported 101 Saskatoon homes being sold, down from 112 last week. When the dust settled, we came in lower annually as well, a rare occurrence this year, which has largely stood out for year-over-year sales gains. Over the same period last year, 116 homes traded hands. 


It’s worth noting that for the first six months of 2021, we were up against weak sales numbers as COVID upset last year’s spring market before it could get rolling. As we move through the last half of this year, we’ll be up against some large sales weeks from last year so we won’t be clocking big gains, and I expect we’ll see more weeks where we are down.


Still, at the close of June, Saskatoon home sales stood at 2,924, a 65% increase from last year, when sales had reached just 1,773 units. The strongest sales year in Saskatoon’s history was 2007 when 4,454 homes were sold. By June 30 of that year, sales had hit 2,535. It seems all but certain that we will break that record this year.


New listing activity continued that up and down bounce we’ve been experiencing for five weeks. Saskatoon REALTORS® listed 203 residential properties for sale, down from 233 the week before, but higher annually by 11 units.


 Saskatoon residential sales and listings through the MLS for the week of July 10-16, 2021


The inventory of active listings available to home buyers moved higher again for the second week in a row, this time reaching 1517. That’s higher than the previous week by 35 homes, and the largest weekly increase since active listings pushed to their peak level during the final week of May. Still, today, we have 51 fewer residential listings than we had a year ago.


The number of detached single-family homes available for purchase rose to 786, up 27 from the previous week’s close, but still lower on a year-over-year basis by 93.


Condo inventory also grew to reach 637, up 19 from a week earlier, and further up by 40 annually.


Thirty-day sales fell lower now for the fourth consecutive week, this week slipping quite substantially from 561 to 508 to bring considerably improved inventory conditions for buyers in all of the three categories I’ve been tracking.


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


All residential - 1517 active listings / 508 sales = a three month supply (up by 0.4 from last week, still well into seller’s market territory but the best it’s been in months and headed in the direction of more balance)


Single-family homes - 786 listings / 316 sales = 2.5 month supply (up by 0.3 months last week. Strong seller’s market conditions).


Condos - 637 listings / 160 sales = a four-month supply. (up by 0.6 months last week and back to more balanced market conditions).


Active Saskatoon real estate listings on the MLS at July 17, 2021


A slightly higher percentage of sales activity for homes priced below $250,000 brought the median sale price for the week lower to $341,450 while a few big sales at the upper end drove the weekly average sale price higher to $368,051.


Both of the longer-term prices measures that I watch continued to trend lower this week.


The six-week average price is now four weeks into a downward drift after reaching its annual peak of $381,210 in mid-June. It closed the week at $363,933, down about 2K from the previous week’s close but still higher annually by about twenty-four thousand dollars.


The four-week median price has now been headed lower for the past nine weeks after it reached its high point for the year at $382,295 in mid-May. It fell lower this week by two thousand dollars and is now at $335,000, and higher annually by just 5K.


Average and median sale prices for Saskatoon homes sold through the MLS from July 10-16, 2021


The number of Saskatoon home sellers who managed to wrap up a sale for more money than they had asked when they listed their homes for sale slipped to 14, while the average overbid grew to $16,700. It’s worth mentioning that the overbid average is skewed significantly by one sale that reported a price that was $100,000 above the list price (see the top of the sales list below). If that sale was not in the mix, the average overbid would be more than seven thousand dollars lower.


Meanwhile, 80 of the week’s 101 sales reported a price that was below the list with an average discount of $9,336.


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.


List price to sale price ratio for Saskatoon MLS home sales from July 10-16, 2021


More weekly stats and numbers for those who love them. 


Saskatoon real estate statistics for homes sold through the MLS from July 10-16, 2021


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 450,000 user sessions in the past year and displayed more than four 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


Read


Local home sales slipped lower for the second week in a row. Saskatoon real estate agents reported 112 firm residential sales to the MLS® this week, down 14 from last week, and lower than the numbers recorded over the same period last year when 119 homes traded hands.


Meanwhile, the new listing activity climbed, taking a big jump from 152 last week to 233 listings this period. That’s higher annually by 38. New listing numbers have been fairly erratic over the past few weeks with these wild swings from one week to the next.


Saskatoon real estate sales and new listing via the MLS from July 3-9, 2021



The number of Saskatoon homes listed for sale on the multiple listing service® grew by 27 units this week to reach 1482 which is lower than it was at the close of the same week last year by 63.


Today, there are 618 condominiums showing an active status on the system, down one from last week, and up 30 annually. There are also 759 single-family homes for sale for a weekly increase of 23 and an annual decline of 95.


Thirty-day sales fell lower for the third week in a row, this week slipping by 24 units to 561.


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


All residential - 1482 active listings / 561 sales = 2.6 month supply (up by 0.1 from last week and still very much a seller’s market)


Single-family homes - 759 listings / 342 sales = 2.2 month supply (up by 0.2 months last week. Seller’s market conditions).


Condos - 618 listings / 182 sales = 3.4 month supply. (same as last week and further into seller’s market territory that we have seen in years).


Active Saskatoon real estate listings on the MLS at July 10, 2021



A massive showing of entry-level buyers brought the median price for the week sharply lower to $341,405. In spite of a couple of sales above the $1 million mark, the weekly average price also took a dive to $355,739.


Looking a bit longer-term, the six-week average took a trim and fell about $900 to $365,823 while maintaining a year-over-year increase of roughly 22K. Meanwhile, the four-week median, which has largely been in a free-fall for the past eight weeks, fell again to settle at $337,000. That’s lower than last week by eleven thousand dollars, and higher annually by just two thousand dollars.


Average and median prices of homes sold through the MLS from July 3-9, 2021



For the second week in a row, the number of homes to receive an overbid sale price climbed slightly. This week, 19 lucky sellers closed a deal for more than their asking price by an average of $10,717. On the other side of the negotiating table, 87 buyers made off with a discount that averaged $9,641.


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.


List price to sale price ratio of Saskatoon homes sold through the MLS from July 3-9, 2021


More weekly stats and numbers for those who love them. 


Saskatoon real estate statistics for MLS home sales from July 3-9, 2021


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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This past week brought a slowing of activity for both sales and new listings.


Saskatoon real estate agents reported a total of 126 residential sales. That is down ten from last week but up by 16 when compared to unit sales for the same week last year.


On the heels of a very strong listing week, the number of Saskatoon homes that were offered for sale on the multiple listing service® declined. A total of 152 new residential listings were added to the system. That’s down sharply from the previous week which saw 240 Saskatoon homes hit the MLS® and nine more than came on the market over the same period last year.

 

Saskatoon residential sales and listings for MLS home sales from June 26 - July 2, 2021



As the calendar turned, 59 listings expired without a sale. The result is our largest single-week decline to active listings this year. We closed the week with 1455 Saskatoon homes for sale. That’s down by 69 from last week and down 62 from where we stood a year ago.


The number of detached single-family homes for sale in Saskatoon slipped by 40 units to 736, which is lower annually by 127 properties. Condo inventory also fell. It closed the week with 619 active listings, down 26 from a week earlier, and higher annually by 38.


Thirty-day sales fell lower for the second week in a row, dropping by ten to 585.


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


All residential - 1455 active listings / 585 sales = 2.5 month supply (the same as last week and still very much a seller’s market)


Single-family homes - 736 listings / 359 sales = 2 month supply (also even with last week. Seller’s market conditions).


Condos - 619 listings / 180 sales = 3.4 month supply. (Down from 3.5 months last week and further into seller’s market territory that we have seen in years).


Active Saskatoon real estate listings on the MLS at July 3, 2021



This was a strong week for upper-end activity with 25 sales above the half-million-dollar mark and two that came in above $1 million. Consequently, both the weekly average sale price and the weekly median took large jumps to $389,560 and $370,000 respectively.


The longer-term measures that we track both moved higher as well.


The six-week average sale price of a Saskatoon home grew to $370,455. That’s up just under four grand from last week, but higher annually by a little more than 22K.


The four-week median price edged up to $489,950 for a weekly increase of just under a thousand dollars, and an annual increase of twelve thousand dollars.


Average and median prices for Saskatoon homes sold through the MLS from June 26 - July2, 2021



The number of homes to sell for more than the seller’s asking price has been falling lower over the past few weeks. This week they grew ever so slightly, but higher nevertheless, edging up from 16 to 17. On average, those sellers saw a bonus of $11,600 more than they had asked. This week there were four lower-end sales (260,000-332,000) to sell above the asking price. The rest were above $370K. 


There were 92 Saskatoon homes that were sold for a price that was below the seller’s asking price generating an average discount of $11,131.


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.


List price to sale price ration of Saskatoon MLS home sales from June 26 - July 2, 2021


More weekly stats and numbers for those who love them. 


List price to sale price ration of Saskatoon real estate statistics for MLS home sales from June 26 - July 2, 2021


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



Read
The Saskatchewan REALTORS® Association (SRA) IDX Reciprocity listings are displayed in accordance with SRA's MLS® Data Access Agreement and are copyright of the Saskatchewan REALTORS® Association (SRA).
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