On the heels of the strongest week for this calendar year, Saskatoon homes sales fell lower to 78, down from 92 last week, and lower on an annual basis by 16.

The new listing activity also dropped, now for the second week in a row as Saskatoon real estate agents added just 117 homes to the database of the multiple listing service®. That’s 18 fewer homes than hit the market last week, and down from the same week last year by 45.

The inventory of Saskatoon homes for sale on the MLS® grew modestly to 941. That amounts to an increase of 21 compared to the last week’s close and a year-over-year decline of 137 residential listings.

Today, we have 449 single-family homes showing an active status, up 25 from a week ago, and down annually by 15. Condo inventory fell lower this week, shedding 15 active listings to settle at 429. Last year, at this time there were 546 Saskatoon condos for sale.

30-day sales inched higher again, this week climbing to 339, up from 321 last week.

 “Months of inventory” fell to new lows for the 2022 year, and fell further into seller’s market terrain in two of three categories.

All residential - 941 active listings / 339 sales = 2.8 month supply (down 0.1 months from last week).

Single-family homes - 449 listings / 201 sales = 2.2 month supply (up 0.1 months from last week).

Condos - 429 listings / 122 sales = 3.5 month supply. (down 0.6 months from last week and now a seller’s market).

This week’s sales include a higher than a typical number of condominiums sales with many posting a price between $100,000 and $200,000. This activity effectively pushed the median sale price for the week considerably lower to just $305,000. Even though there were ten sales above 500K and one above a million dollars, the average price for the week was also dragged lower by the condo sales as it fell 40K to $336,761.

After four consecutive weekly gains, the six-week average price slipped a few hundred dollars to $362,567 to finish the week up a little more than twelve thousand dollars from where it stood a year ago. 

The four-week median price remained steady at $350,000 for the second week. That’s higher annually by 10K.

Despite lower sales this week, the number of homes that sold for an amount higher than the asking price grew from ten last week to 11. On average, those sales reported an overbid of $8,164. Meanwhile, 55 of the week’s 78 sales sold below the seller’s asking price by an average of $11,148.

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 had been on the market for a while, 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 520,000 user sessions last year and displayed more than 4.4 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 Saskatoon real estate market generated its highest sales number for the 2022 calendar year this week as 92 homes moved from active to sold on the MLS® system. That’s a large jump from the previous week when just 67 sales were reported, and ahead of the same week last year by five. This is the first in the past nine weeks in which sales grew on a year-over-year basis.

After reaching a new high for the year the number of new listings that were added to the multiple listing service® fell lower. Local REALTORS® brought just 135 Saskatoon homes to the system this week, down 22 units from last week, but higher annually by 16.

By the time dust of sales, new, expired, and canceled listings had settled, the inventory of available homes had slipped lower this week. At the close of business Friday, there were just 920 Saskatoon homes for sale, down two from the previous week’s close, but lower by 124 compared to what was available at the end of the same week last year.

Today’s totals include 424 single-family homes, down one from last week, and lower on a year-over-year basis by 35. There are 444 condo listings available today, up by eight from a week ago, and lower annually by 98.

30-day sales took substantial gains as they grew from 285 last week to 321 this period.

 “Months of inventory” deteriorated to new lows, and fell deeper into seller’s market terrain in two of three categories.

All residential - 920 active listings / 321 sales = 2.9 month supply (down 0.4 months from last week).

Single-family homes - 424 listings / 196 sales = 2.1 month supply (down 0.4 months from last week).

Condos - 444 listings / 108 sales = 4.1 month supply. (down 0.3 months from last week and now on the cusp of slipping back into a seller’s market).

With 22 sales posting a price above $500,000 the average sale price of a Saskatoon home was up handily this week to $376,622 while buoyant activity at the lower price points saw the median price for the week slip lower to $351,000.

The six-week average price of a Saskatoon home took its fourth consecutive weekly gains as it grew just under two thousand dollars from last week to reach $362,921. That’s ahead of where it was a year ago by $17,500.

The four-week median also grew to add five thousand dollars compared to the previous week. It closed the week at $350,000 to take an annual increase of $25,000.

The number of Saskatoon homes to see enough interest to drive a bidding war slipped from ten to nine this week, while the average overbid spiked from $8,740 last week to $12,589 this period. Meanwhile, 67 homes were reported to have sold below the seller’s asking price with an average discount of $10,793.

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.   

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 520,000 user sessions last year and displayed more than 4.4 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 January of 2022.

Another week is in the rearview mirror as we continue to move towards the spring Saskatoon real estate market.

Over the past week, local REALTORS® reported 67 firm residential sales to the Saskatoon MLS®, down by eight units from last week, and falling lower on an annual basis by 27 sales. We have been down year-over-year now for six consecutive weeks. This week’s annual decline is the largest we’ve seen so far this year.

The new listing activity ramped up nicely this period providing eager buyers with a little hope, as 153 Saskatoon homes hit the market, a new weekly high for this year. That’s higher than last week by 23, but down from the same week last year by 13.

A strong week for new listings, and slightly softer sales numbers led us to the largest increase we’ve seen this year to the inventory of MLS listings. At the close of business Friday, home buyers could find 922 homes showing an “active” status on the system. That’s more than we had at the close of the previous period by 57, but down by 132 annually.

The single-family homes category, which has been desperately low for a couple of years saw the greatest gains as available listings grew from 386 to 425. That’s down just 18 units from tallies taken at this time a year ago. Condo inventory is at 436, up 11 on a weekly basis and lower annually by 109.

30-day sales took another gain, as is expected as we move further away from the weakest months of each year. That number is now at 285, up by two dozen sales from last week.

 “Months of inventory” remained reasonably stable. Here’s what that measure looks like today.

All residential - 922 active listings / 285 sales = 3.3 month supply (unchanged from last week).

Single-family homes - 425 listings / 168 sales = 2.5 month supply (unchanged from last week).

Condos - 436 listings / 99 sales = a 4.4 month supply. (down 0.3 months from last week and rapidly moving back towards seller’s market territory).

A huge week for condos priced below $250,000 helped bring the weekly median price and the weekly average significantly lower to $357,900 and $347,694 respectively.

Meanwhile, the longer-term measures we track both grew.

The six-week average price of a Saskatoon home grew by just $3,000 to $361,019 to take an annual bump of 14K. The four-week median price grew by 10K from last week and reached $345,000. That’s up by $25,000 from the same week last year.

After a bit of softening the previous week, overbid sales doubled and reached ten. Those lucky sellers saw an offer that was, on average, $8,740 above their asking price. Another 47 sellers took some lumps to complete a deal that was lower than their asking price by an average of $10,524.

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 520,000 user sessions last year and displayed more than 4.4 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

It was another strong week for the Saskatoon real estate market. Local REALTORS® reported 74 firm residential trades to the multiple listing service®. That’s down just one sale from the previous week, and lower annually by three. This was the fifth consecutive week in which sales fell on an annual basis.

The new listing activity grew, thankfully, and came close to reaching numbers generated during our previous peak week for the year. There were 131 new listings added to the MLS® this week, up by 30 units from the previous period. That’s 17 fewer Saskatoon homes than were offered for sale over the same week last year.

Despite listing activity that outpaced sales considerably, a large handful of canceled and expired listings kept the inventory of active MLS® listings from moving much. This week, it grew by just five units to reach 865 but fell lower annually by 164. 

There are 338 Saskatoon houses for sale today, up by three from last week, and down 55 on a year-over-year basis. Condo inventory sits at 425, up fby our from last week and lower annually by 107. 

Meanwhile, the number of homes to sell in Saskatoon over the past 30 days took its second significant upward move. That number sits at 261 at the close of this week, which is 38 units higher than it was seven days ago.

 “Months of inventory” suffered another serious blow as sales activity climbed and headed back towards the bleak numbers we were seeing through the last half of 2021.

All residential - 865 active listings / 261 sales = 3.3 month supply (down 0.6 months from last week).

Single-family homes - 386 listings / 154 sales = 2.5 month supply (down 0.4 months from last week).

Condos - 425 listings / 90 sales = a 4.7 month supply. (down 1 full month from last week and now down 2.5 months over two weeks).

This week saw a large number of upper-end sales that pushed the average and median price for the period sharply higher to $373,613 and $393,043 respectively.

The four-week median price was steady at $335,000 for the second week in a row but remained higher annually by $22,000. The six-week average price grew again, now for the second consecutive week. It was up about $2,500 from last week and higher annually by roughly $11,400.

The number of sales that were reported sold at a price exceeding the list price fell by more than 50% to just five, and the overage overbid tumbled to $2,450. Meanwhile, 52 residential deals went firm selling for less than the asking price by an average of $10,454. 

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 520,000 user sessions last year and displayed more than 4.4 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