For the third consecutive week, Saskatoon real estate sales remained in triple-digit territory, a sign that the spring market is underway. Over the past seven days, local REALTORS® reported 114 Saskatoon homes sold to the multiple listing service®, a new weekly high for this year. That’s up from 102 the week before but short by 20 when compared to activity recorded over the same week last year.

The number of new listings added to the MLS® fell even more. Just 163 listings hit the market this week. That’s 22 fewer listings than we saw the previous week, and down by nearly 50 from the same period last year.

For the first time this year, active listing inventory broke the 1,000 unit mark, but just barely as it grew by just seven units from last week’s close reaching 1,004. That’s lower by 250 from the close of the same week last year. 

In the mix, there are 495 single-family homes. That’s the same as last week’s numbers, and lower annually 50, or nearly ten percent. There are also 449 condos for sale in Saskatoon, up from 440 a week earlier, but sharply lower than the 635 units that were for sale a year ago.

30-day sales continued on an upward swing, this week growing by 38 to reach 449.

 “Months of inventory” fell further into seller’s market territory in all three of the categories that we track.

All residential - 1,004 active listings / 449 sales = 2.2 month supply (down 0.2 months from last week).

Single-family homes - 495 listings / 260 sales = 1.9 month supply (down by 0.2 months from last week to steal back all of the gains that we saw last week).

Condos - 449 listings / 158 sales = 2.8 month supply. (down 0.2 months from last week and I believe at its lowest point in years, likely more than a decade).

A growing number of sales at the upper end of the market pushed the median sale price for the week higher to $344,000. With 15 sales reporting a sale price above 600K, including two that topped the million-dollar mark, the weekly average price grew by nearly $50,000 to hit $396,799.

After falling lower last week, the six-week average price grew by more than seven thousand dollars. It closed the week at $364,376 which left it down annually by $1,000. 

The four-week median price headed higher as well, by just $2,500 on a weekly basis. It’s also lower than it was at the close of the same week last year, but by substantially more ($9,000).

In this week’s sales mix, we see 16 sales that reported a sale price that exceeded the list price by an average of $12,500. Buyers managed to make off with a bit of a discount on 84 of the week’s 114 sales. Those deals were reporting prices that were, on average, $12,000 below the asking price.

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.  A description of the geographic boundaries of areas 1 through 5 is here.

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

For the second week in a row, Saskatoon home sales remained in triple-digit territory as local agents reported 102 firm sales to the MLS®. That number is down from last week by six, but well below sales volume recorded over the same week last year when 141 homes were sold.

Meanwhile, the number of new listings that were added to the multiple listing service® reached a new high for the year at 185. That’s up from 154 last week, and down from 227 for the same period last year.

Once again, the total number of homes offered for sale on the Saskatoon MLS® system remained below 1000. At the close of business Friday, 997 Saskatoon homes were listed as “active” on the system. That said, the inventory grew by 41 units from last week, which is the largest single-week gain since early February.  Year-over-year losses continue to grow. We are now down 215 units from where inventory stood at this time last year.

30-day sales made their first showing above the 400 mark after growing steadily for the past eight weeks. This week, that number grew from 392 to 411. Interestingly, 30-day sales in the single-family homes category slipped lower by three units from last week. Meanwhile, condo sales spiked by 16.

 “Months of inventory” remained stable across the broader market, while available supply of single-family homes grew, and the supply of condominiums continued its rapid downward spiral.

All residential - 997 active listings / 411 sales = 2.4 month supply (the same as last week).

Single-family homes - 495 listings / 235 sales = 2.1 month supply (Up 0.2 months from last week).

Condos - 440 listings / 146 sales = 3.0 month supply. (down 0.3 months from last week).

A huge week for condo sales brought the weekly median sale price and the average sale price lower to $330,500 and $350,503 respectively.

That was enough to bring the largest changes to the longer-term measures that we track in weeks. 

The six-week average price fell more than $6,000 to finish the week at $356,757. For the first time this year (and in fact the first time since late September of last year), the six-week average fell lower annually by almost $7,000.

The four-week median price fell by close to 5K from the previous week and also finished lower on a year-over-year basis. It’s lower annually for the second week in a row, this week by fifteen thousand dollars.

The number of sellers who were lucky enough to complete a sale at a price that exceeded the listing price slipped from 17 last week to 16. The average overbid grew to $11,251, thanks in part to one deal that closed $45,000 above the asking price. Another 66 sales went for less than the seller’s asking price by an average of $10,647.

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

Saskatoon real estate sales entered triple-digit territory for the first time this year as local REALTORS® reported 108 homes as firmly sold to the multiple listing service®. That amounts to an increase of 17 sales compared to the previous week, and it’s also higher than numbers recorded over the same period last year by 13. This is just the second week this year that sales have grown on an annual basis.

With fewer expired listings re-entering the MLS than last week, the new listing activity did fall lower from 168 to 154. That’s down annually by 23. So far this year, new listing activity has declined across all but two weeks.

The inventory of active listings on the MLS® grew modestly, now for the third consecutive week. By the close of business Friday, there were 956 listings showing an “active” status on the system, up by 14 from the close of the previous period, but down by 204 units (18%) when compared to levels recorded a year ago. Ouch! That year-over-year decline is growing each week.

The largest drops are in the condo category which shows 427 listings today, three more than last week but lower annually by 188. We have 460 single-family homes today, down one from the previous week’s close, and down 35 on a year-over-year basis.

30-day sales took a large leap forward this week reaching 392, up from 350 last week.

 “Months of inventory” fell significantly lower in all three categories that we monitor.

All residential - 956 active listings / 392 sales = 2.4 month supply (down 0.3 months from last week).

Single-family homes - 460 listings / 238 sales = 1.9 month supply (down 0.3 months from last week).

Condos - 427 listings / 130 sales = 3.3 month supply. (down 0.2 months from last weekk).

A slightly higher number of sales towards the lower end of the market brought the median sale price for the week lower by roughly 17K to $348,740 even while the average sale price moved higher by about $23,000 to $371,209.

Both longer-term price measures remained stable, now for the fourth consecutive week. 

The six-week average price finished the period at $363,204. That’s up from a week ago by less than $600 and higher annually by $8,000. The four-week median price is at $349,900, exactly where it was the week before, but now down from where it stood a year ago by just over 10K. This is most likely due to growing demand in the condo market where lower-priced homes are more common.

The number of sellers who managed to close a sale at a price that was higher than their list price grew to 17, while the average overbid fell lower to $7,371. This week, 72 buyers were able to negotiate a deal that was, on average, $14,341 below the asking price.

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

Saskatoon real estate sales moved higher this week as 91 residential listings were switched from the active category to “sold”. That’s just one sale short of our previous peak week for 2022, up 13 units from the previous week, but shy of numbers recorded the same week of last year, also by 13. 

After falling lower for the past two weeks, the new listing activity spiked higher, thanks in part to 44 expired listings, many of which were immediately re-listed. There were 168 new listings processed by the Saskatoon MLS®, up from 117 last period, but well below the 214 listings that were added over the same period of 2021.

The number of Saskatoon homes showing an active status on the multiple listing service® failed to gain ground. We finished the week with 942 active listings, up just one from a week ago. That’s 179 fewer listings than were available a year ago.

Single-family homes inventory grew by 12 to reach 461 while condo inventory fell lower by five to 424.

30-day sales grew again, this week reaching 352, up from 339 last week.

 “Months of inventory” remained stable in two of three categories.

All residential - 942 active listings / 350 sales = 2.7 month supply (down 0.1 months from last week).

Single-family homes - 461 listings / 207 sales = 2.2 month supply (the same as last week).

Condos - 424 listings / 122 sales = 3.5 month supply. (the same as last week).

After falling to $305,000 the previous week, a little more action in the mid to upper price ranges brought the median sale price for the week higher to $359,900 while the average sale price grew more modestly to $348,029.

Both of our longer-term measures stayed the course showing almost no change.  The four-week median price came in at $349,900. That’s the third week in a row that it's been nearly unchanged, and it's on par with where we were at the close of the same week last year.

The six-week average price grew by $60 from last week to reach $362,627. That’s higher on a year-over-year basis by $13,000.

Overbid sales grew by 50 percent this week reaching 16. On average, those 16 sales paid the sellers a bonus of $12,931. Meanwhile, 57 of the week’s 91 sales were reported to have sold for less than the seller’s asking price by an average of $9,105.

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