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Saskatoon real estate agents reported 91 residential sales to the multiple listing service® this past week, up from 85 the week before, and lower annually by five sales.


The new listing activity softened as just 162 Saskatoon homes were listed for sale, which is lower on a weekly basis by 14, and down from the same week last year by six.


Saskatoon real estate sales and new listings sold through the MLS from August 20-26, 2022



After growing over the past two periods, the number of residential listings showing an active status on the MLS® system turned lower to 1269, down by 17 from the week before, and lower annually by 186.


As of the close of business Friday there were 728 single-family homes for sale, four fewer than the previous week’s close and lower annually by 51. Condo inventory had fallen to 441 for a weekly drop of 13 and an annual decline of 156.


Let’s take a look at “months of inventory” (MOI) which gives us a better understanding of the current supply and demand dynamic.


There have been 419 residential sales recorded through the multiple listing service® over the past 30 days. That’s down from 444 last week and is it the lowest level recorded since the week of March 12. This downward trend is normal. It’s a pattern that repeats every year. This number will continue to fall lower for the rest of the year.


All residential - 1269 active listings / 419 sales = 3.0 month supply (up 0.1 months from last week).


Single-family homes - 728 listings / 267 sales = 2.7 month supply (no change from last week).


Condos - 441 listings / 134 sales = 3.3 month supply. (up 0.4 months from last week, now higher for the third week in a row, and up a full month over those three weeks). 


While MOI remains firmly in seller’s market territory we are seeing slow and steady improvements that appear to be taking us back in the direction of a more balanced environment.


Active residential listings on the Saskatoon MLS on August 26, 2022



With nearly a third of all sales being condos, both the weekly median price and the weekly average sale price of a Saskatoon home fell lower to $372,500 and $385,567 respectively.



The six-week average price grew for the second week in a row to reach $373,949. That’s up from the week before by $3,500 and higher than it was at the close of the same week last year by about 19K. 


The four-week median price grew for the third consecutive week, this period reaching $365,950. This measure is up by a bit more than 14K on a weekly basis and higher annually by 30K.


Average and median prices for Saskatoon homes sold through the MLS from August 20-26, 2022



The number of Saskatoon home sellers who managed to close a sale at a price that exceeded the asking price grew to 17, and the average overbid jumped to $13,917. Meanwhile, 71 sales were reported to have sold at a price that was below the list price by an average of $13,467.


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 August 20-26, 2022

More weekly stats and numbers for those who love them. 


Saskatoon real estate statistics for homes sold through the MLS from August 20-26, 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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Saskatoon real estate sales fell lower for the second consecutive week, this period dropping to 85, the smallest number of sales for any week this year since late February. That’s down seven units from last week and way below the 132 homes that sold over the same week last year.


Meanwhile, the new listing activity took an upward turn reaching 182 for a weekly gain of 12 and an annual decline of 49.


Saskatoon real estate sales and new listings sold through the MLS from August 13-19, 2022



For the second week in a row, the inventory of Saskatoon real estate listings on the multiple listing service grew®, which is unusual for this time of the year. By the close of business on Friday, there were 1286 active residential listings on the system, up 20 from the previous week’s close, and down on a year-over-year basis by 169. 


Most of the growth in the inventory was in the condo category which rose by 19 this week to reach 454, down 143 from a year ago. The number of detached houses available moved up to 732 on a weekly basis to finish down just 48 units from the same time last year.


The number of Saskatoon homes to have sold over the most recent 30 days fell again, this week to 444, the smallest number we’ve seen since the period beginning in late January when winter had us in its grip.


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


All residential - 1286 active listings / 444 sales = 2.9 month supply (up 0.1 months from last week).


Single-family homes - 732 listings / 271 sales = 2.7 month supply (down 0.1 months from last week, thanks to a small increase in the 30-day sales figure).


Condos - 454 listings / 154 sales = 2.9 month supply. (up 0.3 months from last week, for the second time in two weeks). 


Active residential listings on the Saskatoon MLS on August 19, 2022



A spike in upper-end activity led the weekly median price higher to $388,000 while the average price followed along and hit $430,537.


After sliding lower for five consecutive weeks, the six-week average price turned and headed for higher ground, this week growing by more than $6,000 to reach $370,548 and claiming an annual increase of 15K.

The four-week median price, which had also shifted substantially lower since early July, took its second weekly gain to hit $351,500. That amounts to an increase of $16,500 from last week and an annual gain of $15,000.


Average and median prices for Saskatoon homes sold through the MLS from August 13-19, 2022



After sliding to just 12 last week, the number of homes that sold for more than the asking price grew to 16 with an average overbid of $8,494. On the flip side of the negotiating table, 59 Saskatoon homes were reported to have sold for less than the asking price by an average of $11,875.


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 August 13-19, 2022


More weekly stats and numbers for those who love them. 


Saskatoon real estate statistics for homes sold through the MLS from August 13-19, 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 slow further in July 2022: CREA

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


Home sales recorded over Canadian MLS® Systems fell by 5.3% between June and July 2022. While this was the fifth consecutive month-over-month decline in housing activity, it was also the smallest of the five." 


"Sales were down in about three-quarters of all local markets, led by the Greater Toronto Area (GTA), Greater Vancouver and the Fraser Valley, Calgary and Edmonton."


 

Highlights of CREA's report

                     National home sales fell by 5.3% on a month-over-month basis in July.

                     Actual (not seasonally adjusted) monthly activity came in 29.3% below July 2021.

                     The number of newly listed properties dropped by 5.3% month-over-month.

                     The MLS® Home Price Index (HPI) edged down 1.7% month-over-month but was still up 10.9% year-over-year.

                     The actual (not seasonally adjusted) national average sale price posted a 5% year-over-year decline in July.

Read the recently released national sales statistics for July of 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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This week, the number of Saskatoon homes reported sold to the MLS® came in below 100 units for the first time since early April. Saskatoon real estate agents processed just 92 firm residential sales, down from 102 the week before, lower annually by 21 sales.


The new listing activity took a similar turn as just 170 properties were added to the database of the multiple listing service®. This too was the smallest number of new listings added during any week since the first week of April. That is 14 fewer homes than were listed the previous week, and down from the same week last year by 60.


Saskatoon real estate sales and new listings sold through the MLS from August 6-12, 2022



The disparity between sales and listing activity caused the inventory of active listings to move higher this week. By the close of business Friday, Saskatoon home buyers could find 1266 residential listings showing an active status on the MLS®. That’s higher by 18 on a weekly basis and lower annually by 205.


Condo inventory is taking the biggest hit. It did grow by 11 this period to 435, but it’s lower on a year-over-year basis by 173 units. Today, there are 730 single-family homes for sale through our system, the same number as last week, but down 55, when compared to the closing figures, recorded the same week last year.


The number of Saskatoon homes to have sold over the past 30-days, tumbled lower to 452, down from 474 last week.


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


All residential - 1266 active listings / 452 sales = 2.8 month supply (up 0.2 months from last week).


Single-family homes - 730 listings / 265 sales = 2.8 month supply (up 0.1 months from last week).


Condos - 435 listings / 169 sales = 2.6 month supply. (up 0.3 months from last week). 


Active residential listings on the Saskatoon MLS on August 12, 2022



A slightly increased level of sales activity at the market’s entry-level ushered the median sale price for the week lower to $344,450 while the average sale price remained steady at $366,659.


The six-week average price managed its fifth consecutive weekly decline as it moved lower by just under $1,000 to settle at $364,301. That’s still higher annually by about 6K but the year-over-year gains have been falling steadily since this measure took a downward turn in the first week of July.


The four-week median price, which had fallen lower for six weeks in a row took an upward turn this period as it grew nearly five thousand dollars from last week to hit $339,900. That’s down from where it stood at the close of the same week last year by just over three thousand dollars.


Average and median prices for Saskatoon homes sold through the MLS from August 6-12, 2022



Perhaps the most notable shift can be seen in the falling number of sales that were reporting a sale price that was greater than the list price. This measure has been inching lower for several weeks. Last week, there were 20 overbids of the 102 sales (20%) reported. During this period, we see just 12 of 92 sales (13%) reporting a price that was above the asking price. The average overbid was just $8,647. Meanwhile, 69 sales reported a price below the seller’s asking price by an average of $14,432.


This is the first week I can remember this year that the average sale price fell below the average list price in all five of the major Saskatoon areas we report on. 


We are still very clearly in a seller’s market in every category but I expect we will continue to inch closer to balance in the weeks ahead.


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 August 6-12, 2022


More weekly stats and numbers for those who love them. 


Saskatoon real estate statistics for homes sold through the MLS from August 6-12, 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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Saskatoon home sales fell lower this period, dropping 17 units from last week to settle at 102, enough to top sales for the same period last year by 13.


The new listing activity also cooled significantly as it fell to levels not seen since late April when the spring market was just shifting into high gear. This week, Saskatoon real estate agents processed 184 new residential listings through the MLS®, down from 200 last week, and matching listing numbers for the same week last year.


Saskatoon real estate sales and new listings sold through the MLS from July 30 - August 5, 2022



For the second week in a row, the inventory of active Saskatoon real estate listings fell lower. The total number of Saskatoon homes showing an active status on the multiple listing service® fell to 1248 by the close of business Friday. Inventory reached its peak for the year two weeks ago at 1296 and now sits at 1248, for a weekly drop of 33 units, and an annual decline of 205.


Again, the hardest hit is the condo category which dropped 20 units from last week to 424. Last year at this time, there were 607 condos for sale. That’s a year-over-year decline of 30 percent.


Today, there at 730 houses displaying an active status, down two from last week, and lower annually by 38.


The number of Saskatoon homes to have sold over the past 30-day, remained steady this week at 474 units.


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


All residential - 1248 active listings / 474 sales = 2.6 month supply (down 0.1 months from last week, and falling for the second week).


Single-family homes - 730 listings / 270 sales = 2.7 month supply (the same as last week).


Condos - 424 listings / 184 sales = 2.3 month supply. (down 0.1 months from last week). 


Active residential listings on the Saskatoon MLS on August 5, 2022



A burst of activity at the upper end of the Saskatoon real estate market including two sales well above the million-dollar mark pushed both the weekly median price and the weekly average higher to $357,500 and $368,760 respectively.


Meanwhile, both of the longer-term measures we track continued to slip lower.


The six-week average price took its fourth consecutive drop to reach $365,156 its lowest level since late March. That’s down about 4K from last week but ahead annually by about three thousand dollars. The four-week median remained steady at $335,000 after falling lower for five consecutive weeks. That’s as low as it has been since the first week of February, and lower annually for the third week in a row. At this time, last year, this measure was coming in at $343,000.


Average and median prices for Saskatoon homes sold through the MLS from July 30 - August 5, 2022



Of the 102 homes that sold this past week, 20 of those listings were reported to have sold for more than the asking price. While the drops are slight, this segment has been slowly shrinking as a percentage of overall sales for several weeks. The average overbid was $14,280. Meanwhile, 71 sales reported a price of less than the asking price to generate an average discount of $11,092.


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 July 30 - August 5, 2022


More weekly stats and numbers for those who love them. 


Saskatoon real estate statistics for homes sold through the MLS from July 30 - August 5, 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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