For the first time in five weeks, home sales bounced back to record triple digits as Saskatoon real estate agents reported 107 firm residential trades to the multiple listing service®. That is up a dozen units from the previous week, and significantly higher than what we saw over the same week last year when just 74 homes sold.

After falling to their lowest weekly level for this entire calendar year, the new listing activity spiked higher to 110, up 14 from last week and higher annually by 27 units.

The number of Saskatoon homes available for sale on the MLS® continued to tumble lower, now for the 11th consecutive week. By the close of business Friday, active listings had slipped to 1053, from 1125 a week earlier. That’s 123 fewer homes than were available a year ago.

Today, we find 497 single-family homes for sale in Saskatoon, well down from the 453 we had a week ago, and further down annually. At this time last year, there were 592 detached homes for sale. Condo inventory fell 14 units from last week to 485 and finished the week down on a year-over-year basis by 30.

After falling lower for five consecutive weeks, 30-day sales pushed higher, this week growing by 11 to reach 412. Higher sales numbers and rapidly declining active listings served to erode “months of inventory” to further limit options for Saskatoon home buyers. Here’s what that looks like today.

All residential - 1053 active listings / 412 sales = 2.6 month supply (down 0.2 months from last week and at the lowest point we’ve seen since this little real estate rally began)

Single-family homes - 497 listings / 289 sales = 1.7 month supply (down 0.3 months from last week, also a new low for the year).

Condos - 485 listings / 105 sales = a 4.6 month supply. (same as last week).

A little more upper-end action in the market pushed the weekly median sale price of a Saskatoon home higher this week to $375,000. One sale that topped $2 million helped push the weekly average price up to $372,492.

The four-week median sale price came within $65 of hitting a new annual high. It’s at $381,155 this week, up nearly 10K from last week, and higher annually by close to $50,000 The six-week average price grew again, as it has, fairly consistently over the past ten weeks. It reached $365,900. That’s up just a bit more than two thousand dollars from last week and higher annually by 55K.

Overbid sales remained steady at eight while the average overboard amount more than doubled to $15,213. Meanwhile, 89 homes were reported to have been sold at a price that was below the seller’s asking price by an average of $11,962.

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, 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 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 local housing market saw some sales gains this week as Saskatoon real estate agents reported 95 homes sold to the multiple listing service®. That number was higher than the previous week’s sales by 13 units. We recorded similar annual gains.

The new listing activity continued to fall sharply lower, now for the third consecutive week as residential units offered for sale fell to 96, their lowest level for the entire year. That number is down from 126 last week, and higher on a year-over-year basis by just one.

Active listing inventory continued to fall lower, now for the ninth week in a row. By the close of business Friday, Saskatoon home buyers could find just 1125 properties listed for sale on the MLS®. That number is lower than last week’s close by 56, and down annually by 88.

A closer look at the two major housing categories shows that we have 543 single-family homes for sale, a decline of 38 from last week, and down 82 on a year-over-year basis. Condo inventory is at 498 today, down 23 from last week, and lower annually by 18.

30-day sales dropped again, now for the fifth consecutive week. This week the measure was down 15 units to 401. Sales and active listings fell lower in roughly the same proportion so “months of inventory” were quite stable across the board.

All residential - 1125 active listings / 401 sales = 2.8 month supply (unchanged from last week)

Single-family homes - 543 listings / 273 sales = 2.0 month supply (same as last week).

Condos - 498 listings / 108 sales = a 4.6 month supply. (down 0.2 months from last week).

The weekly median price took a small jump this week to $359,900 while the weekly average sale price of a Saskatoon home slid sharply (33K) to $359,196 thanks to fewer sales at the top end of the price spectrum.

After trending higher for eight weeks, the six-week average price of a Saskatoon home slipped about 7K this week to settle at $371,952. That’s higher than it was a year ago by about thirty-five thousand dollars.

Meanwhile, the four-week median price continued to grow, this week gaining just $1200 to reach $363,700. That was enough for an annual increase of 45K.

Overbid sales fell lower to just seven units and the average overbid amount was $7,057. Across the negotiating table sat 74 Saskatoon home buyers who managed to close their purchase with a discount averaging $9,256.

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 October of 2021.

According to the report, "On a year-to-date basis, some 581,275 residential properties traded hands via Canadian MLS® Systems from January to October 2021, surpassing the annual record of 552,423 sales for all of 2020."

“After a summer where it looked like housing markets might be calming down a bit, October’s numbers suggest we might be moving back towards what we saw this Spring, with regards to current market demand and supply conditions,” said Cliff Stevenson, Chair of CREA. “That said, one month of data is not a trend, so we’ll be watching how the balance of this memorable year plays out closely. And remember, in what is still a rapidly changing landscape, your local REALTOR® can provide much more granular and timely information and guidance about what is going on in the neighbourhoods where you live or where you might like to in the future,” continued Stevenson.

 Highlights of CREA's report

National home sales rose 8.6% on a month-over-month basis in October.
Actual (not seasonally adjusted) monthly activity was down 11.5% on a year-over-year basis.
The number of newly listed properties climbed by 3.2% from September to October.
The MLS® Home Price Index (MLS® HPI) rose 2.7% month-over-month and was up 23.4% year-over-year.
The actual (not seasonally adjusted) national average sale price posted an 18.2% year-over-year gain in October.

Read the entire report on Canadian MLS® sales for October 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 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 real estate sales continued on a downward trend, this week reaching their lowest level since the final week of January. Local REALTORS® reported just 82 residential properties firmly sold, exactly half as many homes as sold during our peak week of this year which occurred in June. This week’s tally is down from 90 last week, but up from 74 when compared to the same week last year.

The number of new listings that were added to the MLS® fell to an eight-month low as Saskatoon real estate agents processed just 126 listings, down from 140 last week, and sharply higher than the 84 homes that were offered on the multiple listing service® over the same period last year.

The number of Saskatoon homes for sale on the MLS® system fell lower for the ninth consecutive week, but the drop in numbers was far less than we’ve been expecting. There are 1178 Saskatoon homes for sale now, down from 1187 at last week’s close, and lower annually by just 102 units. 

A closer look by category shows that buyers have 581 single-family homes to choose from today, 17 fewer than were available last week, and down 92 fewer from a year ago. Condo inventory sits at 521 today, which is actually up by ten from last week and lower by 13 on a year-over-year basis.

The number of Saskatoon homes to sell over the past 30 days dropped for the fourth consecutive week, this week by just one to 416. Fairly stable active listings and sales left “months of inventory” in each of the three categories just marginally impacted, if at all.  Here’s how that looks today.

All residential - 1178 active listings / 416 sales = 2.8 month supply (unchanged from last week)

Single-family homes - 581 listings / 288 sales = 2.0 month supply (down 0.1 months from last week and the lowest I can remember it being since the housing boom of 2007/2008).

Condos - 521 listings / 108 sales = a 4.8 month supply. (up 0.1 months from last week).

Some solid sales activity at price points below the $300K mark brought the median sale price for the week well down from last week to just $355,000, while a 1.7 million dollar sale contributed to a higher weekly average sale price. It came in at a lofty $393,648.

The six-week average sale price of a Saskatoon home continued the late-year advance that has seen it climbing now for 8 weeks. It reached $378,788 with a weekly gain of $2,300 to finish the period higher annually by just over $35,000. It came within three thousand dollars of the annual peak that it hit in June.

The four-week median price has been on a similar tear for the past eight weeks. It’s well off of its annual high of $382,000 but after trending lower for 20 weeks, it made a sudden shift and began to climb in mid-September. Since that time, the measure has grown by more than 60K. This week it grew to $362,500 for a weekly gain of nearly six thousand dollars to finish the week up annually by $38,000.

Even as sales softened, the number of Saskatoon homes that sold above the asking price remained stable at nine, while the average overbid more than doubled from last week to $10,147. Meantime, 65 of the week’s 82 sales went for less than the asking price to net those buyers an average discount of $11,733.

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 week in a row, homes sales slipped lower. Saskatoon real estate agents reported 90 firm residential sales, down six from last week, but ahead by four when compared against sales over the same week last year.

The new listing activity also fell, now for the third consecutive week. Saskatoon home sellers listed 140 homes for sale on the multiple listing service®. That’s lower than the week before by 20 and down by just two annually.

The inventory of Saskatoon homes for sale on the MLS® continued its typical seasonal decline falling lower, now for the eighth consecutive week. By the close of business Friday, active listings had fallen to just 1187, the lowest number on record since mid-March. That’s 53 fewer properties than were on the system a week ago and lower annually by 143.

The sharpest declines were seen in the single-family homes category where inventory was already extremely scarce. Over the past week, we saw our numbers slip by a remarkable 10% as available units declined from 660 to just 598, down from 704 a year ago. Meanwhile, condo inventory fell nine units to 511, for an annual drop of 28.

The total number of Saskatoon real estate sales in the residential category over the past 30 days fell lower again, now for the third week in a row, this week to 417, a decline of ten units. This eroded “months of inventory” in each of the three categories that we track.  Here’s how that looks today.

All residential - 1187 active listings / 417 sales = 2.8 month supply (down 0.2 months from last week)

Single-family homes - 598 listings / 286 sales = 2.1 month supply (down 0.2 months from last week).

Condos - 511 listings / 108 sales = a 4.7 month supply. (down 0.1 months from last week).

The weekly average price and the weekly median both grew sharply this week to $381,202 and $378,360 respectively as more upper-end home buyers engaged with the market.

The six-week average price took its third consecutive week of gains to finish the period at $376,574. That’s higher than it was the previous week by more than 10K, up about 20K from the close of the same week last year, and just five grand below the annual peak reached in June.

The four-week median grew by just two thousand dollars from a week ago to hit $356,250. That’s higher annually by twenty-three thousand dollars.

The number of sellers who wrapped up a deal at a price that exceeded the asking price fell from 14 last week to nine over this period. The average overbiid also softened considerably as it fell from nearly six thousand dollars last week to $4,411. Meanwhile, 70 homes were reported to have sold below the asking price by an average of $13,400.

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