Keeping in mind that this week’s firm sales were negotiated the week before (or earlier) Saskatoon home sales remained stable over the final week leading up to Christmas. Local agents reported 67 firm residential trades, even with last week, and up by 14 when compared against sales for the same week last year.

The new listing activity was predictably soft as just 47 Saskatoon homes were added to the MLS® for a weekly drop of 50 and an annual gain of eight.

The number of residential properties available to Saskatoon home buyers fell, now for the 14th consecutive week to reach its lowest point since early December of 2012. 

Saskatoon home buyers can find 890 active listings in the residential category today, which is lower than last week’s close by 51, and down further from a year ago when 1038 listings showed an active status on the multiple listing service®.

Single-family homes inventory is at 393 today, down 29 from last week and lower annually by 78. Condo numbers are now at 432. That’s lower than last week by 17. A year ago, there were 503 Saskatoon condos for sale.

30-day sales continued to fall, as expected, dropping sharply from 354 last week to 321. Here’s what “months of inventory” look like today.

All residential - 890 active listings / 321 sales = 2.8 month supply (up 0.1 months from last week and the third consecutive move in that direction)

Single-family homes - 393 listings / 219 sales = 1.8 month supply (up 0.1 months from last year, and the first improvement in several weeks).

Condos - 432 listings / 88 sales = a 4.9 month supply. (the same as last week).

With 15 sales reported above the half-million dollar mark, the median sale price of a Saskatoon home grew to $365,000 this week. The average price for the period followed and reached $384,798.

Both of the longer-term measures that we track slipped lower this week. The six-week average price dropped just under $1,700 from last week to $377,901, up close to 41K from the same week last year. The four-week median price took a larger weekly dip as it slipped lower by $6,300 to settle at $351,450 to take a year-over-year gain of $18,450.

There were ten sales reported to the MLS® where the sale price exceeded the seller’s asking price. The largest overbid was $35,100 and the average was $9,230. Meanwhile, 47 of this week’s sales closed below the list price by an average of $15,411.

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. 

For those of you when celebrate the holidays in one way or another, I wish you and yours peace and joy as you do. 

Thanks again 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 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

As thoughts of gift-giving, holiday cheer, and family meals intensify, shopping for a new home typically finds a much lower spot on the to-do list. 

This week, Saskatoon real estate agents reported just 67 firm residential trades to the MLS®, the smallest number for any week since the first week of January. That’s down eight from last week and a drop of three when compared to sales for the same week last year.

The number of new listings added to the system grew to 97 this week, up by seven from last week. Over the same period last year, just 70 new listings were added to the database of Saskatoon’s multiple listing service®.

The inventory of Saskatoon homes for sale on the MLS® declined for the 13th consecutive week, this time falling to 939. That’s down 33 units from last week’s close and lower annually by 129 homes.

Today, home buyers can find just 422 single-family homes on the MLS®, a drop of 20 from last week, and lower on a year-over-year basis by 72. There are 449 condos available today, 12 fewer than could be found at the close of the previous period, and lower annually by 66.

30-day sales continued to trend lower, this week falling to 354 from 369 last week. Here’s what “months of inventory” look like today.

All residential - 939 active listings / 354 sales = 2.7 month supply (up 0.1 months from last week and the second consecutive move in that direction)

Single-family homes - 422 listings / 242 sales = 1.7 month supply (the same as last week and at low for the year).

Condos - 449 listings / 92 sales = a 4.9 month supply. (up 0.1 from last week and now right in the middle of what would be considered “balanced” market conditions).

A bit more action at price points below the 300K mark brought both the weekly median price and the weekly average lower to $336,000 and $367,954 respectively.

After reaching a new high point for the year last week, the six-week average price of a Saskatoon home slipped modestly lower to $379,570. That’s down by almost two thousand dollars on a weekly basis, but up annually by just over 40K. Meanwhile, the four-week median price fell just over two thousand dollars from last week to settle at $357,750 to finish the weekly higher on a year-over-year basis by about $20,000.

Seven lucky sellers wrapped up a deal that netted them an average bonus above their asking price of a whopping $13,321. Another 51 transactions were reportedly closed at a price that was below the seller’s asking price by an average of $13,478.

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. 

It’s my intention to write the week in review next week as I have done now for 771 consecutive weeks. I will post it on the 26th, however, I will not do a video recap for next week’s activity. 

For those of you who celebrate the holidays in one way or another, I wish you and yours peace and joy as you do. 

Thanks again 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 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

This week, the Saskatoon real estate market saw a small upward sales bump as local REALTORS® reported 75 firm trades to the MLS®, up by four from last week for an annual increase of 12.

Meanwhile, the new listing activity slowed as it likely will each week for the balance of the year. Saskatoon real estate agents added 90 residential properties to the multiple listing service® database. That’s 28 fewer listings than hit the system the previous week, and down 30 when compared to activity over the same week last year.

The number of Saskatoon homes available to be bought through the MLS® slid to 972 this week, down from 995 last period and lower annually by 150 units.

Among the 972 listings, local buyers can find 442 detached houses, down 18 weekly, and lower on a year-over-year basis by 92. Condo inventory is at 461 today, lower by seven from last week and down annually by 63.

As another week of seasonally soft sales fell into the mix, 30-day sales took a significant tumble and fell to just 369 from 402 last week. With a slide to both active listings and sales, the supply/demand dynamic changed very little. Here’s what “months of inventory” look like today.

All residential - 972 active listings / 369 sales = 2.6 month supply (up 0.1 months from last week)

Single-family homes - 442 listings / 253 sales = 1.7 month supply (the same as last week and at low for the year).

Condos - 461 listings / 96 sales = a 4.8 month supply. (up 0.3 from last week).

Once again, much of the week’s activity occurred at price points below the average causing the weekly median price and the weekly average to fall lower to $347,500 and $370,919 respectively.

The six-week average price, meanwhile, climbed to a new high for 2021. It finished the week up just a couple of hundred dollars for the period, reaching $381,330 to claim an annual gain of 47K. The four-week median slipped about $1200 from last week to settle at $360,000 for a year-over-year increase of roughly ten percent.

The number of Saskatoon home sellers who sold for more than their asking price grew from eight to ten while the average overbid slid lower to $8,100. That’s about 35 percent lower than it was last week. On the other side of the negotiating table, 57 deals closed below the list price with an average discount of $10,352.

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 taking a big bounce last week, Saskatoon home sales fell lower and slid to their lowest point since the third week of January. Local real estate agents reported just 71 firm residential trades this week, down 36 units from the previous period, and lower by 13 when compared against sales over the same week last year.

Meanwhile, the new listing activity grew modestly as a bunch of listings expired without a sale at the close of November and then returned for another go. 118 Saskatoon home owners added their property to the multiple listing service®, for a weekly gain of ten, and an annual increase of 16.

Active listing inventory continued to slide lower, this week falling below the 1000 mark for the first time since early January. Today, we have just 995 Saskatoon homes for sale, down from 1053 at last week’s close, and further down from 1103 at the end of the same week last year.

The number of Saskatoon single-family homes for sale finished the week at just 460, down from 497 a week ago, and lower annually by 82 units. Condo inventory is at 468 today, down from 485 at last week’s close, and lower by 29 on a year-over-year basis.

After moving higher for the first time in five weeks last period, 30-day sales reversed course and slipped lower to 402, just ahead of the previous low recorded two weeks ago. Even with weak sales, the decline in active listings served to erode “months of inventory” just a bit. Here’s what that looks like today.

All residential - 995 active listings / 402 sales = 2.5 month supply (down 0.1 months from last week and at the lowest point we’ve seen since this little real estate rally began)

Single-family homes - 460 listings / 278 sales = 1.7 month supply (the same as last week and at low for the year).

Condos - 468 listings / 105 sales = a 4.5 month supply. (down 0.1 from last week).

An active market at price points below the $300,000 mark helped to usher the median and the average sale price for the week lower to $359,900 and $366,083 respectively.

The six-week average price remained stable at $381,154 to take an annual gain of roughly $46,000. Meanwhile, the four-week median price dipped close to 5K on a weekly basis to settle at $361,250 and finished higher annually by about $34,000.

In spite of lower sales numbers, overbid sales remained steady at eight while the average overbid amount fell lower to $11,928. That’s 3K lower than it was last week. The largest overbids were in the area I describe as Area 2 (that big swath of land between Circle Drive East and the river) where overbids averaged $22,366. Still, 56 of this week’s 71 sales were reported to have been sold at a price that was below the seller’s asking price by an average of $8,640.

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