After two weeks of declining sales, the Saskatoon real estate market saw a surge in activity that resulted in 119 firm home sales, up 17 from the previous week, and down from the same week last year by seven sales.

The number of new Saskatoon real estate listings added to the MLS® matched last week’s number at 200 units, which is higher annually by 31.

The number of Saskatoon homes currently listed for sale on the multiple listing service® fell lower this week to 1281. That is lower than the close of the previous week by 15, for the largest single-week decline this year. We currently have 172 fewer listings than were available to buyers a year ago.

Today, there are 732 single-family homes showing an active status on the system. That’s just down by one from last week and lower annually by 40. Condo inventory continues to hit new lows with just 443 active listings, down 20 from a week ago, and lower on a year-over-year basis by 173.

The number of Saskatoon homes to have sold over the past 30-day, after falling lower for two weeks grew by five to 474.

Here’s what “months of inventory” look like today. 

All residential - 1281 active listings / 474 sales = 2.7 month supply (down 0.1 months from last week).

Single-family homes - 732 listings / 270 sales = 2.7 month supply (the same as last week).

Condos - 443 listings / 184 sales = 2.4 month supply. (down 0.2 months from last week). 

With just 15 sales reporting a sale price above the half-million dollar mark, the average sale price for the week slipped again, this week dropping by a thousand dollars to $352,388. The weekly median price, meanwhile, came back for the 25-week low it hit last period and grew more than 20K to $329,900.

The six-week median price declined again, now for the third week in a row. It settled at $368,891 to reach it’s lowest point since the final week of March. It remains up on an annual basis by six thousand dollars.

The four-week median price declined for the sixth consecutive week thanks to a growing number of condo sales. It’s at $335,000 today, which is lower than it was last week by roughly $3,000 and down annually by $5,000.

The number of Saskatoon homes that were reported to have sold for more than the asking price slipped by one, in spite of the fact that sales were higher than the previous week by 17 percent. 22 Saskatoon home sellers closed on an offer that was $10,633 higher than their asking price, on average. Another 85 sales show a price below the list price with an average discount of $9,885.

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

Saskatoon real estate sales slipped lower for the second week in a row, this time falling to 102, down just two from the week before, and lower by 23 sales when compared to activity over the same week last year. Having peaked with a seven-day sales period that nearly reached 150 just five weeks ago, the trend is both clear and typical for the season. From here, sales will bounce up and down from one week to the next, but the pattern will present as a slow steady decline until it bottoms out in December.

The new listing activity also slipped, now for the second consecutive week as it fell to 200 for a weekly drop of 28 and an annual increase of just two. We can expect the same pattern to unfold with new listings as sales.

Another clear trend is a growing number of active real estate listings. Most years, we are on the downward path by this time. This year, the number of Saskatoon homes for sale continues to grow, even as a full month of summer is behind us. The shift is subtle and modest but it looks to me that we are moving back towards normal levels that more closely match demand.

Over the past seven days, total inventory grew to 1296, a gain of just five from the previous week’s close, and down by 216 from where it stood a year ago. The single-family homes category grew by 23 listings to reach 733, down annually by 64 units. Meanwhile, condo numbers fell lower by 23 on a weekly basis, and down by 171 annually.

The number of Saskatoon homes to have sold over the past 30-day sales fell for the second consecutive week, this period declining by 17 units to 469. That’s our lowest number of 30-day sales since late March when the market was just starting to simmer.

Here’s what “months of inventory” look like today. 

All residential - 1296 active listings / 469 sales = 2.8 month supply (up 0.1 months from last week).

Single-family homes - 733 listings / 272 sales = 2.7 month supply (up 0.3 months from last week and well up for the two-month supply recorded just a few weeks ago).

Condos - 463 listings / 179 sales = 2.6 month supply. (down 0.3 months to lose most of the large gains we saw in this category last week). 

Condos take far longer than houses to build so this segment of the market is often out of balance with demand and either over-supplied or under-supplied. This category may continue to fall lower as the single-family segment moves higher.

As a percentage of total sales, condo units at the lower to mid-level markets continued to produce strong results which drove the median sale price for the week lower again, this week to $308,950. It has only been lower once this year. Still, with nearly 20 percent of the week’s sales topping the half-million-dollar mark, the weekly average price saw smaller declines as it settled at $353,346.

The six-week average price, now two weeks off its annual peak, fell lower for the second week in a row to $375,252. That’sdown from last week by almost nine thousand dollars and higher on a year-over-year basis by 13K.

The four-week median price took its fourth consecutive weekly drop, this period falling by more than thirteen thousand dollars to $337,875. That’s lower than it was at the end of the same week last year by about six thousand dollars. Again, a resurgent interest in condos has been driving that trend.

The number of Saskatoon home sellers lucky enough to close an offer for a price greater than their asking price remained stable at 23. The average overbid took an upward bounce to $15,107. On the flip side of the negotiating table, 69 closed sales required a bit of give from the seller. Those deals reported an average discount of $9,367.00.

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

Often, when a market is shifting you start to see large bounces in the numbers from one week to the next. That appears to be happening now. This week, sales fell lower to 104, down 20 from last week. That is on par with the same week last year, and it takes us back to volumes that are more typical of the very early spring before things exploded.

New listing activity, which has certainly been trending lower over the past six to seven weeks remains relatively high. Saskatoon real estate agents added 228 homes to the MLS®, down four from last week, and higher than the same period last year by 25.

The inventory of Saskatoon real estate listings continued its slow push in an upward direction growing by 17 this week to reach 1291, lower by 226 on an annual basis. This is about the time that inventory should begin to fall lower. 

In the mix, we have 710 single-family homes for sale, up 27 from last week’s close, and down on a year-over-year basis by 76. Condos inventory grew to 485, up by six from the previous week and lower than it was this time last year by 152.

After an unexpected bump to 544 last week, 30-day sales fell considerably lower to 486. With a bit of growth in active listings, we see some relief for buyers challenged to find a home.

Here’s what “months of inventory” look like today. 

All residential - 1291 active listings / 486 sales = 2.7 month supply (up 0.4 months from last week and the largest upward shift we’ve seen this year).

Single-family homes - 710 listings / 299 sales = 2.4 month supply (up 0.4 months from last week and the largest upward shift we’ve seen this year).

Condos - 485 listings / 165 sales = 2.9 month supply. (up 0.4 months from last week and the largest upward shift we’ve seen this year).

Strong sales activity below the quarter million dollar mark helped bring both the weekly median and the weekly average sale price of a Saskatoon home lower to $336,625 and $361,280 respectively.

The six-week-average price fell off of its record higher dropping about twenty-five hundred dollars from last week to settle at $384,037. That leaves it higher annually by about 20K. The four-week median price took its third consecutive decline, this week slipping forty-five hundred dollars to $351,000. That’s the lowest it's been since early May but higher on a year-over-year basis by sixteen thousand dollars.

The number of Saskatoon homes that reported a sale price higher than the asking price fell to 24 from 32 the week before. The average overbid was $11,225, about 6K lower than the week before. Meanwhile, there were 71 sales reporting a price of less than the list price by an average of $11,356. That’s the first time that the average underbid was higher than the average overbid since spring.

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

After falling to its lowest level since April last week, the Saskatoon real estate market saw sales rebound to 124 units for a weekly increase of 23 and an annual gain of 12 sales.

The new listing activity also took an upward bounce as 232 Saskatoon homes were listed for sale on the MLS®. That was higher than the previous week by 26, and pretty much on par with the new listing activity recorded over the same week last year.

The total number of homes for sale on the multiple listing service® in Saskatoon grew slightly this week as it increased by five properties to 1274 to finish lower on a year-over-year basis by 206.

Even while the total number of listings grew, available detached houses slipped lower to 683, for a weekly dip of eight and an annual drop of 76. Condo inventory fell to 479 from 486 the week before to finish down annually by 139 units.

After falling lower for two consecutive weeks, the number of Saskatoon homes to have sold over the past 30 days grew by ten this week to 544.

Here’s what “months of inventory” look like today. 

All residential - 1274 active listings / 544 sales = 2.3 month supply (down 0.1 months from last week).

Single-family homes - 683 listings / 330 sales = 2.0 month supply (the same as last week).

Condos - 479 listings / 193 sales = 2.5 month supply. (down by 0.2 months from last week, due to a large spike in 30-day sales).

Sales activity was weighted slightly towards the upper end of the market causing the median sale price for the week to jump 25K to $361,450. At the same time, the weekly average increased more than nine thousand dollars to $381,863.

For the third time this year, the six-week average price reached a new weekly record as it hit $386,679. That’s up about $3,300 from last week, roughly five hundred dollars higher than the previous record, and higher annually by just over 20K.

The four-week median price fell lower from last week by nearly ten thousand dollars. It sat at $355,501 for the current period, $18,500 higher than it was a year ago.

The number of Saskatoon homes that sold for more than the seller’s asking price grew to 32 this week. The average overbid was $17,444 and the highest on record was $62,100. Meanwhile, 84 of the week’s 124 sales reported a sale price that was, on average, $9,835 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

Saskatoon home sales dipped to their lowest level since the first week in April, thanks in part to a short week for the MLS®. A total of 101 properties switched from an active status to sold, down by ten from last week and lower annually by 25.

The number of new listings added to the multiple listing service® fell to its lowest number since the final week of April as just 206 new listings were added to the MLS®. That’s 32 fewer listings than were added the previous week but 54 more than came on the market over the same week last year.

Even with new listings more than doubling sales, the inventory of active MLS® listings fell slightly lower. A good handful of listings typically expire without a sale as the calendar brings a new month. A large number of canceled listings also helped bring active listings lower.

We finished the week with 1269 active residential listings, down just five from last week’s close, and lower on a year-over-year basis by 186.

The number of Saskatoon homes to have sold over the past 30 days inched lower for the second week in a row, this week falling by six to settle at 534. 

Here’s what “months of inventory” look like today. 

All residential - 1269 active listings / 534 sales = 2.4 month supply (the same as last week).

Single-family homes - 691 listings / 331 sales = 2.0 month supply (down 0.1 from last week. For the second week in a row, 30-days sales actually moved higher in this category).

Condos - 486 listings / 179 sales = 2.7 month supply. (up by 0.1 months from last week, thanks to a growing number of listings and fewer sales).

The median weekly price of a Saskatoon home plummeted to $337,500 as more entry-level buyers made a purchase. The average sale price also fell, but 17 sales above $500K kept the decline under $20K as it settled at $372,905.

After reaching a new record last week, the six-week average price slipped lower by just under three thousand dollars to $383,384. That’s up about $13K from the close of the same week last year.

The four-week median price which hit a new annual high of $365,425 last week also came down close to three thousand dollars to finish the week at $362,750. That’s higher annually by just under $14,000.

There were 26 homes that were reporting a sale price that was higher than the seller’s asking price this week. While lower for the second week in a row, overbid sales actually grew as a percentage of total sales. Those 26 homes averaged an overbid of $17,763 which is lower than last week by $4,500. Meanwhile, 65 of the week’s 101 sales were reporting a sale price that was below the list price by an average of $9,727.00.

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