Saskatoon home sales slipped lower this week falling by 14 units to 96. That’s down by six when compared to the numbers generated over the same week last year.

The new listing activity moved in the opposite direction and grew again, now for the second consecutive week. Saskatoon real estate agents added 160 new listings to the MLS® this past week, up by 14 from the week before, and higher annually by 33.

The number of homes available for sale on the multiple listing service fell lower for the sixth week in a row, this time settling at just 1260, the lowest number we’ve seen since the final week of March. That’s down 22 from last week and also down from the close of the same week last year by 107. 

Within our current inventory is a selection of 660 single-family homes, 13 fewer than could be found a week ago and down further from 721 at the close of the same week last year. Additionally, there are 520 condos for sale in Saskatoon today. That’s a drop of nine from last week and lower annually by 48.

The total number of Saskatoon real estate sales in the residential category over the past 30 days fell lower this week to 426, down from 437 the week before. This brought modest improvements to “months of inventory” in two of three categories that we track.  Here’s how that looks today.

All residential - 1260 active listings / 427 sales = 3.0 month supply (up 0.1 months from last week)

Single-family homes - 660 listings / 291 sales = 2.3 month supply (the same as last week).

Condos - 520 listings / 109 sales = a 4.8 month supply. (up 0.4 months from last week).

Sales activity across the various price ranges looked more or less like it did in my last report so the weekly average price and the weekly median were almost unchanged. The average came in at $371,642 and the median was $351,000.

The four-week median price finally broke its winning streak as it fell lower for the first time after growing sharply over the past five weeks. It fell by seventy-five hundred dollars from last week to $366,200 which was up about 10K annually. The six-week average price saw an increase for the second week in a row as it moved to $366,200. That’s up about 6K from last week and higher annually by ten thousand dollars.

Overbid sales pushed higher again with 14 sellers closing a deal for more than their asking price. The average overbid, however, slipped to $5,986, about four grand lower than it was last week. This week, 77 of 96 sales went for less than the asking price by an average of $12,280.

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

According to the report, "Home sales recorded over Canadian MLS® Systems were up 0.9% between August and September 2021, marking the first month-over-month increase since March."

“September provided another month’s worth of evidence from all across Canada that housing market conditions are stabilizing near current levels,” said Cliff Stevenson, Chair of CREA. “In some ways that comes as a relief given the

 Highlights of CREA's report

• National home sales rose 0.9% on a month-over-month basis in September.
• Actual (not seasonally adjusted) activity was down 17.5% on a year-over-year basis.
• The number of newly listed properties declined by 1.6% from August to September.
• The MLS^® Home Price Index (MLS^® HPI) rose 1.7% month-over-month and was up 21.5% year-over-year.
• The actual (not seasonally adjusted) national average sale price posted a 13.9% year-over-year gain in September.

Read the entire report on Canadian MLS® sales for September 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

On the heels of three consecutive weeks of declines, Saskatoon real estate sales bounced back to break into three-digit territory again. Local agents reported 110 homes sold this week, up 19 from the previous period. That was enough to beat sales for the same week last year by six units.

The new listing activity also moved higher but to a lesser degree. A total of 146 Saskatoon homes hit the market for a weekly gain of 11 units to finish up annually by 24.

Even with strong sales numbers on the board, the inventory of active Saskatoon real estate listings fell lower to break below the 1300 mark for the first time since the closing week of March. Today, we have 1282 homes for sale in Saskatoon, down 36 from this time last week, and lower annually by 146 homes.

A closer look by category shows an inventory of 673 detached homes, down 28 over the past seven days, and lower on a year-over-year basis by 88. Additionally, there are 529 Saskatoon condos for sale, up by one from last week, and lower annually from 591 or roughly ten percent.

The total number of Saskatoon real estate sales in the residential category over the past 30 days took an upward jump again from 408 last week to 437. Lower inventory numbers and heightened sales eroded “months of inventory” in all three categories that we track.  Here’s how that looks today.

All residential - 1318 active listings / 437 sales = 2.9 month supply (down 0.3 months from last week)

Single-family homes - 673 listings / 297 sales = 2.3 month supply (down 0.3 months from last week).

Condos - 529 listings / 119 sales = a 4.4 month supply. (down by 0.2 months from last week).

Both the weekly median and average price grew modestly as they reached $355,250 and $370,959 respectively.

The six-week average recovered all that it lost last week and more as it grew to $359,905 for a weekly increase of $800 and an annual gain of seven thousand dollars. The four-week median price continued on a fast upward path as it grew by another 9K to reach $361,000. That’s $25,000 higher than it was at the close of the same week last year.

Overbid sales came in at 10 this week with the average overbid hitting $9,940. Meanwhile, 91 of 110 sales went below the seller’s asking price by an average of $12,163.

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 third week in a row, Saskatoon home sales fell lower, this week slipping to 91 for a weekly decline of just three and an annual drop of four units.

The new listing activity fell off sharply on the heels of a large listing week last period. Just 135 residential properties hit the MLS® this week. That’s down from 200 last week, and well lower than numbers posted over the same week last year when 152 Saskatoon homes were added to the multiple listing service®.

Active listing inventory continued its downward trend for the fourth consecutive week, this week landing at just 1318. Today’s numbers are down just 17 from a week earlier but lower annually by 148 homes.

Today, home buyers can find 705 single-family homes for sale on the MLS®. That’s down five from last week and lower annually by 87. There are also 528 condos for sale in Saskatoon, down 15 from a week ago, and further down by 67 listings from a year earlier.

The total number of Saskatoon real estate sales in the residential category over the past 30 days dropped this week after taking a big jump to 424 last week. This week, that number comes in at just 404, down 20 from a week ago, and is at its lowest level in three weeks. Even as inventory numbers slipped, softer sales brought some improvements to “months of inventory”.  Here’s how that looks today.

All residential - 1318 active listings / 404 sales = 3.2 month supply (up 0.2 months from last week, and now up .05 months in six weeks)

Single-family homes - 705 listings / 274 sales = 2.6 month supply (even with last week, and up just 0.3 months in six weeks).

Condos - 528 listings / 116 sales = a 4.6 month supply. (up by 0.4 months from last week and now up 0.9 in six weeks).

The median sale price for the week took a dive, thanks to a higher level of sales at the market’s entry-level. It slipped a bit more than 35K to $347,500. The average sale price for the week followed the same path slipping 23,000 from last week to $357,187.

This week, the six-week average price of a Saskatoon home saw a modest decline of just a few hundred dollars as it slipped to $356,101. That’s pretty much bang on with the number recorded at the close of the same week last year.

The four-week average price continued its recovery that began five weeks ago when it hit its annual low of $324,000. This week, it grew by a touch more than $10,000 and reached $352,000, a number we have not seen since the middle of June. That’s also higher on a year-over-year basis by 10K. 

After settling down considerably over the past two weeks, the number of homes to sell for more than the asking price grew to nine and the average overbid came in at $7,712. Meanwhile, 73 of the week’s 91 sales sold below the seller’s asking price by an average of $10,977.

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

Saskatoon home sales slipped lower for the second week in a row, this time just modestly. Local real estate agents reported 94 firm residential sales to the MLS® this week, down five from the previous week and up by five from the same period last year.

Meanwhile, the new listing activity moved higher for the second consecutive week. A total of 200 Saskatoon homes were offered up on the multiple listing service® for a weekly increase of 29 and an annual gain of 48. The new listing activity this period includes a large handful of the 75 listings that expired as the new month began.

The number of Saskatoon homes available to buyers on the MLS® grew by one over the past seven days to 1335. That is lower than what was available last year at this time by 148 units, or ten percent.

In the inventory, we have 710 detached single-family homes, up 10 from a week ago, and lower annually by 117. There are 543 listings in the condo category, which is higher than last week’s close by seven units and lower annually by 43. 

The total number of Saskatoon real estate sales in the residential category over the past 30 days grew from 408 last week to 424 for this period. Even with stable active listings numbers, the boost to sales brought “months of inventory” lower in all three of the categories we track. Here’s how that looks today.

All residential - 1335 active listings / 424 sales = 3.1 month supply (down 0.2 months from last week, and now up just 0.3 months in five weeks)

Single-family homes - 710 listings / 272 sales = 2.6 month supply (down 0.1 months from last week, and up 0.3 months in five weeks).

Condos - 543 listings / 129 sales = a 4.2 month supply. (down by 0.1 months from last week and now up 0.5 in four weeks).

A higher percentage of sales at the upper end of the price scale pushed the median sale price of a Saskatoon home higher again, this week to $382,750 even as the average sale price for the week slipped lower to $380,572.

After many weeks trending well lower, both of our longer-term prices measures moved higher for the second week in a row.

The six-week average price grew very modestly to $356,225. That’s higher than the week before by just $1,000 and up annually by just a few hundred dollars. The four-week median price jumped close to 12K from the week before to reach $341,750. It’s lower than it was a year ago by a few thousand dollars. 

You may recall that in last week’s report, I told you that 17% of sales had drawn overbids. That was the highest percentage of sales that I could recall for several months. This week, overbids fell out of fashion as just three home buyers offered to pay more than the seller’s asking price. That’s not quite three percent of sales, a pretty significant shift. Those three overbid sales paid the respective sellers an average bonus of $12,600. Meanwhile, 83 of the week’s 94 sales recorded a price below the seller’s asking price to generate an average discount of $11,170.

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

After a sharp sales rebound last week, Saskatoon home sales fell lower again, this week to 99 units. That’s down 11 from last week and just slightly higher on an annual basis.

The new listing activity spiked higher from just 136 last week to reach 171 over this period. That’s 12 fewer new listings than entered the system over the same period last year.

In spite of decent sales volume and strong new listing numbers, a high number of month-end expired listings (82), and another 48 canceled and withdrawn listings pushed inventory levels lower again. At the close of business Friday, there were just 1334 active listings available on the MLS® system. That’s lower than last week by 36, and down about 150 on a year-over-year basis.

Today, there are 700 detached single-family homes for sale, down by 28 compared to last week’s close, and lower annually by 127. There are also 536 condos for sale in the city. That’s 27 fewer than there was a week earlier and lower than levels recorded a year earlier by 41.

The number of sales over the past 30 days continues to fall lower, this week dropping 408 from 427 the week before. With a drop in both sales and active listings, “months of inventory” were hardly affected. Here’s what it looks like today.

All residential - 1334 active listings / 408 sales = 3.3 month supply (up 0.1 months from last week, and now up 0.5 months in four weeks)

Single-family homes - 700 listings / 261 sales = 2.7 month supply (unchanged from last week, and up 0.4 months in four weeks).

Condos - 536 listings / 124 sales = a 4.3 month supply. (up 0.1 months from last week and now up 0.6 in four weeks).

Sales activity at the mid to upper-value range of the Saskatoon housing came back strong this week. The median sale price for the week bounced back from an annual low of $285K to reach $367,000 this week. The weekly average price moved from under $325,000 last week to $397,038.

After sliding lower for weeks, both of the longer terms measures I track headed for higher ground. The six-week average price of a Saskatoon home grew more than ten thousand dollars this week to reach $354,852. That’s lower than it was last year at this time by just a few hundred dollars. Meanwhile, the four-week median price bounced back from the annual low of $309,000 recorded last week to reach $330,000 this week. It’s still lower on an annual basis by about fifteen thousand dollars.

Perhaps the most interesting number from this week is the number of sales that reported a sale price that was higher than the list price. That number came in at 17, which is 17% of sales, a much higher percentage than we’ve been experiencing lately. The average overbid was $9,853. 

This type of activity was most prevalent in what I call Area 3 (from the river’s edge to Idylwyld Drive, from downtown north to the north edge of Silverwood) where six of ten sales went for more than the asking price. 

This is a clear signal that there are buyers out there still very determined to wrap up a deal this year and I expect that October will record some sales gains over September. Kids are back in school, routines are reestablished and buyers are showing a strong willingness to buy. Inventory could be the fly in the ointment but that remains to be seen. 

There were 70 sales below the asking price, as well. Those deals saw an average discount of $12,808.

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