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For the eighth consecutive week, Saskatoon real estate agents added more than 200 residential listings the multiple listing service®. This week, new listing numbers hit 238, a gain of ten from the previous period and just two units shy of what came on the market over the same week last year.


After reaching a new annual peak last week, the number of Saskatoon homes that saw a sold sign appear fell lower from 149 to 111 and finished down on an annual basis by 25 sales.


Saskatoon real estate sales and new listings sold through the MLS from June 18-24, 2022



With strong new listing activity, weaker sales, and a very small number of expired listings, the number of Saskatoon homes for sale on the MLS® pushed to a new annual high of 1273 properties. That amounts to an increase of 51 listings, one of our larger weekly gains this year, but it still leaves us down on a year-over-year basis by 250 homes. This is about the time that active listing inventory normally reaches its annual peak most years.


The largest gains can be counted in the condo category which grew by 29 listings to reach 478, lower annually by 167. Available detached single-family homes rose by 13 to hit 696. That’s down 78 from the close of the same week last year.


The number of Saskatoon homes to have sold over the past 30 days fell off if its annual high reached last week, dropping 18 units to 540. This brought decent improvements to “months of inventory” in two of the three categories that we track. 


All residential - 1274 active listings / 540 sales = 2.4 month supply (up 0.2 months from last week).


Single-family homes - 696 listings / 326 sales = 2.1 month supply (the same as last week. 30-day sales actually moved higher in this category offsetting inventory growth completely).


Condos - 478 listings / 183 sales = 2.6 month supply. (up by 0.4 months from last week. Even though condo inventory saw the smallest growth, 30-day sales fell by nearly ten percent causing the bump we see here).


Active residential listings on the Saskatoon MLS on June 25, 2022



With far fewer small condo sales in the mix this week, the median and average sale prices for the period shot higher to $388,000 and $391,288 respectively.


The six-week average price rose to its highest level ever this week as it hit $386,238. That’s just under three thousand dollars more than it was at last week’s close, and up annually by 20K. The four-week median price also reached an annual high as it grew a little more than $8,700 from last week to find itself up from where it sat at the close of the same week last year by more than $17,000. 


Average and median prices for Saskatoon homes sold through the MLS from June 18-24, 2022



The number of homes that sold for more than the seller’s asking price slipped lower to 32, down from 42 last week, while the average overbid reached a new high for the year at $22,175. The largest overbid this week was 115K which seems ridiculous given that the list price of the property was just $234,900 (that’s 49 percent above the list price). Another 66 sales reported a price below the asking price by an average of $10,640.


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


List price to sale price ratio of Saskatoon homes sold through the MLS from June 18-24, 2022


More weekly stats and numbers for those who love them. 


Saskatoon real estate statistics for homes sold through the MLS from June 18-24, 2022



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


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Home sales reached their highest point for any week this year across this final full week of spring. Saskatoon real estate agents reported 149 firm residential trades, higher than the previous week by 26, and up annually by 38. This was just the fifth of 24 weeks this year that recorded some year-over-year sales gains.


After reaching an annual peak over the past two weeks, the new listing activity slipped lower as 228 home sellers put up a for sale sign. That’s lower by 18 when measured against the previous week and higher when compared to the same week last year by 37. This marks the third consecutive week in which new listings grew annually, something that has only occurred twice this year, prior to this run.


Saskatoon real estate sales and new listings sold through the MLS from June 11-17, 2022



After nine weeks of slow but steady growth, the inventory of active Saskatoon real estate listings dipped lower as it dropped to 1223 from 1230 last week. At this time last year, there were 1493 Saskatoon homes showing an “active” status on the multiple listing service®.


A closer look by category shows 683 single-family homes for sale, up by ten compared to last week’s close, and lower than it was at the end of the same week last year by just 52 units. Meanwhile, condo numbers fell lower to 449, for a weekly drop of 19 and an annual dip of 203.


The number of Saskatoon homes that sold over the past 30 days grew again, this week hitting an all time high for the year of 558.


A decline in active listings and an increase in sales saw “months of inventory” deteriorate in all three categories that we track with condos seeing the largest change.


All residential - 1223 active listings / 558 sales = 2.2 month supply (down 0.1 months from last week).


Single-family homes - 683 listings / 322 sales = 2.1 month supply (down 0.1 months from last week).


Condos - 449 listings / 200 sales = 2.2 month supply. (down by 0.3 months from last week).


Active residential listings on the Saskatoon MLS on June 18, 2022



A huge week for condos, particularly units priced below $200K, brought the average and the median sale price for the week lower to $385,169 and $350,000 respectively.


After reaching a new record last week, the six-week average price inched down to $383,689. That’s lower than it was last week by about $500 and higher annually by twelve thousand dollars.


The four-week median price fell lower by $6,500 from the week before to settle at $355,000. That’s down by twelve hundred dollars, year-over-year..


 Average and median prices for Saskatoon homes sold through the MLS from June 11-17, 2022



The number of homes that were reported to have sold for more than the list price inched up to 43. On average, those deals paid the seller a bonus of $18,277 with the largest overbid coming in at $69,100. Meanwhile, 88 of the week’s 149 sales reported a price that was below the seller’s asking price by an average of $11,950.


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.


List price to sale price ratio of Saskatoon homes sold through the MLS from June 11-17, 2022


More weekly stats and numbers for those who love them. 


Saskatoon real estate statistics for homes sold through the MLS from June 11-17, 2022



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


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Canadian home sales continue to slow through May, 2022: CREA

The Canadian Real Estate Association (CREA) recently released national sales statistics for May of 2022.


Statistics released today by the Canadian Real Estate Association (CREA) show national home sales were down in May 2022. Home sales recorded over Canadian MLS® Systems declined by 8.6% between April and May 2022. This built on a larger drop recorded in April, leaving monthly activity at pre-COVID levels recorded in the second half of 2019 and only slightly above the 10-year average.


"With interest rates on the rise, and with 5-year fixed rates getting well out ahead of what the Bank of Canada is expected to do later this year, home sales have cooled sharply in recent months. Prices have also been halted in their tracks following a record-setting five months of growth between October 2021 and February 2022."


 

Highlights of CREA's report

  • National home sales fell by 8.6% on a month-over-month basis in May.
  • Actual (not seasonally adjusted) monthly activity came in 21.7% below the May record set in 2021.
  • The number of newly listed properties was up 4.5% month-over-month.
  • The MLS® Home Price Index (HPI) edged down 0.8% month-over-month but was still up 19.8% year-over-year.
  • The actual (not seasonally adjusted) national average sale price posted a 3.4% year-over-year gain in May.


Read the recently released national sales statistics for May of 2022.

Read also, the revised national housing forecast for 2022 and 2023.


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


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Encouraged by a continuing surge in new listing activity and soon-to-expire interest rate holds, Saskatoon home buyers wasted no time making deals. This past week saw 123 MLS® listings moving to a sold status, higher than the previous week by 17, and lower annually by 33.


For the second week in a row, the new listing activity remained at its annual peak. Saskatoon real estate agents brought 246 residential listings to the MLS® this period to match the previous week’s numbers and beat totals for the same week last year by 22.


Saskatoon real estate sales and new listings sold through the MLS from June 4-10, 2022



As new listings doubled sales, the inventory of active MLS® listings broke the 1200 mark for the first time this year. This morning, there are 1230 properties displaying an active status, higher than a week ago by 56 units, and lower annually by 265.


Condo inventory saw the largest spike in numbers as they grew from 435 last week to 468 today. The number of detached single-family homes for sale in Saskatoon bounced to 673, up from 651 last week, and down from the close of the same week last year by 44.


After falling lower during our last two reports, the number of Saskatoon homes that sold over the past 30 days headed higher to 530 from 516 last week.


Even as listing numbers grew, this spike in sales left “months of inventory” unchanged in two of three categories.


All residential - 1230 active listings / 530 sales = 2.3 month supply (unchanged from last week).


Single-family homes - 673 listings / 304 sales = 2.2 month supply (unchanged from last week).


Condos - 468 listings / 186 sales = 2.5 month supply. (up by 0.2 months from last week).


Active residential listings on the Saskatoon MLS on June 11, 2022



With 32 Saskatoon home sales reporting a price above 500K, both the weekly average and median price pushed higher to $407,869 and $380,000 respectively.


The six-week average price reached a new high for the year; in fact, it’s higher than I’ve ever seen it at $384,183. That’s up just under 10K from last week, and higher annually by three thousand dollars.


The four-week median price also grew, this week reaching $362,000 for a weekly increase of ten thousand dollars and a year-over-year gain of roughly four thousand bucks.


Average and median prices for Saskatoon homes sold through the MLS from June 4-10, 2022



Overbid activity remained fairly fierce this week with 42 sales reporting a price that exceeded the asking price by an average of $16,163. This week, I saw something I hadn’t ever seen before as one River Heights home priced at $379,900 sold for $517,000 (37 percent more than the list price). Meanwhile, 70 of the week’s 123 sales sold below the seller’s asking price by an average of $11,503.


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.


List price to sale price ratio of Saskatoon homes sold through the MLS from June 4-10, 2022

More weekly stats and numbers for those who love them. 


Saskatoon real estate statistics for homes sold through the MLS from June 4-10, 2022



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


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After reaching an annual peak three weeks back, Saskatoon home sales fell lower for the second week in a row, this time dropping by three units to 106, well down from 132 when compared to sales for the same week last year.


Meanwhile, the new listing activity hit a new weekly high for the year as 246 home owners offered their property for sale on the Saskatoon MLS®. That’s up 37 units from last week to beat the previous strongest listing week by 23, and higher annually by 25.


Saskatoon real estate sales and new listings sold through the MLS from May 28 - June 4, 2022



Fewer sales and a spike in new listings allowed the inventory of active MLS® listings to grow, now for the eighth consecutive week. Today, buyers can find 1176 Saskatoon homes for sale on the multiple listing service®, up 27 from last week, and down annually by 347.


The number of single-family homes for sale reached 651 this week, up 26 units from the close of the previous week, and down by 79 on a year-over-year basis. Condo inventory closes the week at 435. That’s lower by just two from last week and down from where it stood at the close of the same week last year by 255.


The number of Saskatoon homes that sold over the past 30 days slipped lower this week, falling from 534 to 516 (this number peaked at 536 two weeks ago).


This past week, “months of inventory” grew in all three categories we track.


All residential - 1176 active listings / 516 sales = 2.3 month supply (up by 0.1 months from last week).


Single-family homes - 651 listings / 293 sales = 2.2 month supply (up 0.2 months from last week).


Condos - 435 listings / 189 sales = 2.3 month supply. (up by 0.1 months from last week).


Active residential listings on the Saskatoon MLS on June, 2022



A bit more sales activity at the upper end of the Saskatoon real estate market including two sales that added $2.65 million to the total dollar volume pushed the average and the median sale price for the week higher. They came in at $378,040 and $355,000 respectively.


In the meantime, the six-week average price fell off its peak and slipped about $600 from last week to settle at $374,439. That’s lower than it was at the close of the same week last year by $5500.


The four-week median price wrapped up the week at $352,000 which is lower on a weekly basis by three thousand dollars, and down annually by 5K.


Average and median prices for Saskatoon homes sold through the MLS from May 28 - June 4, 2022



This week, 38 lucky home sellers closed a deal for more than their asking price. That’s up from 28 last week, and below the annual peak, achieved two weeks ago by ten. Those deals reported a price that was, on average, $13,595 above the asking price. There were 13 sales reported to have sold for the full asking price, and 55 others that required some downward movement to complete a sale. Those homes averaged a discount of $11,598.


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.


List price to sale price ratio of Saskatoon homes sold through the MLS from May 28 - June 4, 2022


More weekly stats and numbers for those who love them. 


Saskatoon real estate statistics for homes sold through the MLS from May 28 - June 4, 2022



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


Read
The Saskatchewan REALTORS® Association (SRA) IDX Reciprocity listings are displayed in accordance with SRA's MLS® Data Access Agreement and are copyright of the Saskatchewan REALTORS® Association (SRA).
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