After a couple of exceptionally strong weeks, Saskatoon home sales fell back into double-digit territory as local REALTORS reported 96 firm sales to the multiple listing service®. That number is down by 35 when compared to activity recorded the previous week and lower annually by 11.

The new listing activity took a similar path. This week, 168 Saskatoon home sellers offered their property for sale on the MLS®, a drop of 63 units compared to the week before, and a decline of 13 when measured against new listings over the same week last year.

In spite of the gap between sales and new listings, a good number of canceled and expired listings kept the inventory of residential MLS® listings from growing much. At the close of business Friday, we had 1455 Saskatoon homes for sale, up just one from the previous week’s close, and lower on a year-over-year basis by 87.

Both condos and single-family homes numbers were largely unmoved from last week. We have 779 detached houses for sale, down from 867 last year at this time, and 597 condos, up by 21 from a year ago.

The largest shift we see this week is in the 30-day sales numbers which took a dive to 475 units. That’s the lowest level recorded since the week that crossed the middle of March. To be clear, these are still unbelievably strong sales numbers for almost any month, let alone August but it’s obvious that some of the extreme heat is now abating.

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

All residential - 1455 active listings / 475 sales = 3.0 month supply (up 0.1 months from last week)

Single-family homes - 779 listings / 293 sales = 2.7 month supply (up 0.1 months from last week).

Condos - 597 listings / 156 sales = a 3.8 month supply. (up by 0.3 months from last week).

With condos making up a significantly smaller percentage of sales this week, compared to last, both the weekly median price and the average shot higher to $353,647 and $371,653 respectively.

Both of the longer-term measures that we look at remained stable on a weekly basis but fell lower annually. The six-week average price is at $355,342 this week, up just a few hundred dollars from last week but down $2,500 annually.  The four-week median price held steady at last week’s number, $335,000 to close the week down $1,500 annually.

Overbid sales made up a larger percentage of sales this week as they grew from 10 last week to 12 this week. More notable, the average overbid spiked to its highest point in a couple of months hitting $15,904, thanks in part to one home that sold more than $80,000 above the seller’s asking price. Meanwhile, 74 of the week’s 96 sales closed below the seller’s asking price at an average discount of $10,969.00.

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 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

For the second consecutive week, Saskatoon real estate sales grew. Local agents reported 131 firm residential sales, up from 116 last week, and further ahead of numbers recorded over the same week last year when 113 Saskatoon homes were sold.

New listing activity remained high at 231 units, ahead of last week by just one, but higher annually by 40.

Active listing inventory slipped modestly as the total number of Saskatoon homes showing an active status on the MLS® dropped by 17 to 1454. That’s 69 fewer homes than were available on the system a year ago.

Today, condo inventory sits at 597 units, down from 608 last week, and higher annually by 25. The selection of single-family homes declined by five from last week to 780, now lower on a year-over-year basis by 86 listings.

For the second week in a row, the number of homes to have sold over the past 30 days grew, this week by 17 units to reach 506.

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

All residential - 1454 active listings / 506 sales = 2.9 month supply (down 0.1 months from last week)

Single-family homes - 805 listings / 304 sales = 2.6 month supply (the same as last week).

Condos - 597 listings / 169 sales = a 3.5 month supply. (a large spike in sales numbers pushed MOI down by 0.5 months from last week).

An exceptionally strong week for condos priced at the lower end brought the weekly median price well lower this week to just $310,000. The weekly average sale price tumbled even more to $337,517.

Meanwhile, both of our longer-term price measures continued on a downward trend and hit their lowest point in months.

The six-week average price was $354,927 which is lower than last week by just a couple of thousand dollars, and lower than it was at the close of the same week last year, by about five hundred dollars. The four-week median price came in at $335,000. That’s down $8,000 from last week, and up just 5K annually.

Overbid sales fell lower to just ten this week. Those lucky sellers managed an average bonus above their asking price of $7,040. Another 111 Saskatoon homes sold for less than the seller’s asking price with an average discount of $10,718.

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 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

On the heels of the slowest sales week for the Saskatoon real estate market since the end of February, sales bounced back. This past week, local REALTORS® reported 116 firm residential deals to the multiple listing service®. That amounts to a weekly increase of 27 sales and an annual gain of 24.

New listing activity grew even more. This week 230 Saskatoon homeowners offered their property for sale. That’s up 41 units from last week and a 35 unit increase when compared against listings generated over the same week last year.

After three consecutive weeks of declines, the total number of active listings for sale on the MLS® took some modest gains as the inventory hit 1471, higher than last week’s close by 18, but lower annually by 49.

Today’s inventory consists of 785 single-family homes, for a weekly increase of 17, but down 116 units on a year-over-year basis. Condo inventory held steady at 608 for an annual increase of 37.

After falling lower for eight consecutive weeks, the number of Saskatoon homes to have sold over the previous 30 days grew from 483 to 489.

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

All residential - 1471 active listings / 489 sales = 3.0 month supply (the same as last week)

Single-family homes - 785 listings / 301 sales = 2.6 month supply (the same as last week).

Condos - 608 listings / 153 sales = a 4.0 month supply. (down by 0.1 months from last week).

Significantly more sales at price points above $500K pushed both the weekly median price and the weekly average sale price higher to $377,750 and $370,353 respectively.

The six-week-average price still managed to slip lower dropping about four thousand dollars from last week to $358,586 to manage a small annual increase of under six thousand dollars. The four-week median price stayed even with numbers produced the week before. It came in at $343,000 this week for a four thousand dollar year-over-year increase.

Overbid sales grew to 13 this week while the average overbid took a large jump to $9,854. That’s up about 60% from where it’s been over the past few weeks. Meanwhile, 82 of the week’s sales were reported to have sold below the seller’s asking price by an average of $9,948.

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 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

The real estate market continued to slow this week as local agents reported just 89 Saskatoon homes sold. This is the first week in which sales fell below 100 units since the middle of March and the quietest sales week since the third week of February. Total weekly sales came in lower annually for the second week in a row, this week dropping by 17.

The new listing activity showed continued signs of life with 184 Saskatoon homes being offered for sale on the multiple listing service®. That’s up 15 units from last week, and up by 11 compared to the same week last year.

The inventory of active MLS® listings fell lower for the third consecutive week, this time dropping to their lowest level since the first week of May. There are now 1453 active MLS listings in Saskatoon, down 12 from last week, and further down from 1489 at the close of the same week last year.

Those seeking a single-family home will find 768 options in the city. That’s just four fewer than last week but lower annually by 70, or nearly 10%. Condo inventory sits at 607 today, a drop of 11 from last week’s close, and up 34 on a year-over-year basis.

The number of sales recorded over the last 30 days slipped lower again, this week to 483, down just five from last week.

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

All residential - 1453 active listings / 483 sales = 3.0 month supply (the same as last week)

Single-family homes - 768 listings / 301 sales = 2.6 month supply (the same as last week).

Condos - 607 listings / 147 sales = a 4.1 month supply. (up by 0.1 months from last week).

With a high percentage of sales coming in between $400,000 and $500,000 the weekly median price managed some small gains as it grew $3000 from last week to $347,000. An absence of sales above the $700,000 mark brought the weekly average lower by $16,000 to $340,262.

The six-week average price remained stable for the third week in a row, this week slipping just a few hundred dollars to $362,328 to stay higher annually by about eleven thousand dollars. Meanwhile, the four-week median price edged higher to grow by three thousand dollars on a weekly basis, up just $1500 from a year ago. 

Expect price growth to slow as demand continues to soften through the balance of the year.

Given the fairly sharp decline in weekly sales, overbids remained high at 12, but for the third week in a row, the average overbid stayed well away from five figures where it had been for months. This week, the sellers who were lucky enough to sell for more than their list price saw an average overbid of $6,059. Meanwhile, 66 of the week’s 89 sales reported a price below the list price with an average discount of $10,473.

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 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