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Saskatoon real estate week in review for November 23-29, 2019 (edition #664)


As November was drawing to a close, the Saskatoon real estate market held steady with 59 residential sales reported to the MLS®, the same number as the week before, and up by ten compared to the same period last year.


New listing activity fell sharply lower with just 74 Saskatoon homes hitting the system. That’s 40 fewer homes than were listed the previous week, and down by 16 when compared to the same period last year.


Saskatoon residential MLS sales and and new listings for the week of November 22-29, 2019



Residential MLS® inventory in Saskatoon took its largest tumble in weeks as it fell to just 1530 homes, down 50 from last week’s close, for a year-over-year decline of 101 units. This morning, there are 919 single-family detached homes for sale in the city, just two more than could be found on the multiple listing service® a year ago. There are also 530 condominiums for sale in Saskatoon, 74 fewer than were available at this time last year.


Active Saskatoon real estate listing on the MLS at November 29, 2019



The weekly median sale price of a Saskatoon home fell lower to $319,500 while the weekly average headed in the opposite direction to close the week at $338,351. The six-week average sale price took another gain this week to finish at $335,248. That’s down about five thousand dollars from the close of the same week last year. The four-week median price fell lower to $325,000 to record an annual decline of twenty-five hundred dollars.


Average and median prices for Saskatoon homes sold November 22, 2019



After four weeks of no overbid sales, a couple of eager buyers came out to offer more than the asking price, hoping to edge out competitive bids. A $1-million dollar home sold $99 above the asking price, while another, this one a sub-$200K home attracted an offer the was $10,100 above the asking price. Meanwhile, 51 of 59 Saskatoon home sales reported this week traded below the list price and netted those buyers an average discount of $14,017.


Here is a breakdown of what the sales to listing price ratio looked like on this week’s sales. Please note that those sales that do show a sale price that is greater than the list price are all new properties that spent some period of time on the market, and most likely included additional improvements that were not reflected in the original list 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.


Sale price to list price ratios for Saskatoon homes sold through the MLS the week of November 22-29, 2019



More weekly stats and numbers for those who love them. 

Saskatoon real estate statistics for MLS home sales from November 22-29, 2019



Thank you for reading TeamFisher’s Saskatoon Real Estate Week in Review.


I’m always happy to answer your Saskatoon real estate questions.  Reach out by voice or text at 306-241-6676 or email me at norm at teamfisher.com


Norm Fisher

Royal LePage Vidorra


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Saskatoon real estate week in review for November 16-22, 2019 (edition #663)


Sales took a modest upward turn this week as Saskatoon real estate agents reported 58 firm residential trades. That was enough to record a weekly gain of seven sold units, but at the close of the week, numbers fell short of those recorded over the same period last year when 66 Saskatoon homes changed hands.


The number of new listings added to the database of the multiple listing service® also grew from last week. Local REALTORS® submitted 114 properties to the MLS®, up from 105 the week before, but well below the 145 Saskatoon homes that hit the system during the same period last year.


Saskatoon residential MLS sales and and new listings for the week of November 16-22, 2019



The inventory of homes listed for sale in the city continued on a downward trend, now for the tenth consecutive week. As of this morning, there are 1580 residential properties available to buyers on the MLS®. That number is down just 16 units from a week ago, but lower by 162 units from the close of the same week last year. I believe that to be the largest annual decline that we’ve seen this year.


A closer look at the two major housing categories shows that we have 960 single-family homes for sale in Saskatoon, down 20 from a year earlier, and 541 condos, down from 650 at the close of the same week last year.


Active Saskatoon real estate listing on the MLS at November 22, 2019



A drop in sales above the $400,000 mark ushered both the weekly median sale price and the weekly average sale price lower to $330,000 and $318,025 respectively. Meanwhile, both of the longer-term measures that we track took gains. The six-week average price grew to $331,525. That’s up about $5500 from last week, but down roughly two thousand dollars from this time last year. The four-week median price rose by close to thirteen thousand dollars from last week to finish at $332,850. That measure is up about two thousand dollars from the close of the same period last year.


Average and median prices for Saskatoon homes sold November 16-22, 2019



This is the fourth consecutive week that showed no competitive overbidding activity. Eight new homes traded this week and while some of those showed a sale price above the list price, the most likely explanation is that additional value not accounted for in the list price was added during negotiations. 


Of the 59 sales reported this week, 51 showed a sale price below the seller’s asking price with an average discount of $13,043.


Here is a breakdown of what the sales to listing price ratio looked like on this week’s sales. Please note that those sales that do show a sale price that is greater than the list price are all new properties that spent some period of time on the market, and most likely included additional improvements that were not reflected in the original list 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.


Sale price to list price ratios for Saskatoon homes sold through the MLS the week of November 16-22, 2019



More weekly stats and numbers for those who love them. 


Saskatoon real estate statistics for MLS home sales from November 16-22 2019



Thank you for reading TeamFisher’s Saskatoon Real Estate Week in Review.


I’m always happy to answer your Saskatoon real estate questions.  Reach out by voice or text at 306-241-6676 or email me at norm at teamfisher.com


Norm Fisher

Royal LePage Vidorra


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Saskatoon real estate week in review for November 9-15, 2019 (edition #662)


Saskatoon real estate sales continued to soften this week as one would expect at this time of the year. Local REALTORS® reported 51 firm residential trades, down four from the week before but up by 13 when compared to sales for the same period last year.


Meanwhile, listing activity remained steady as 105 Saskatoon homes were offered for sale on the multiple listings service®. That matches last week’s numbers and amounts to an annual gain of just one listing.


Saskatoon residential MLS sales and and new listings for the week of November 9-15, 2019



The number of Saskatoon homes available to buyers on the MLS® system slipped lower and fell below 1600 units for the first time since the last week of March. A total of 1596 homes are showing an active status in this broad category this morning. A closer look at housing types shows 979 detached houses, the same number that was available a year ago. Condo inventory sits at 539, sharply lower than the 643 recorded a year ago.


Active Saskatoon real estate listing on the MLS at November 15, 2019



Sales below $200,000 fell lower this week which boosted both the weekly median price and the weekly average price of a Saskatoon home to $365,000 and $351,831 respectively.


The six-week average price was largely unchanged from a week ago at $325,918. This week, it’s lower than it was last year at this time by about nine thousand dollars. The four-week median price moved higher to $320,000 to finish the week lower than it was a year ago by $12,500.


Average and median prices for Saskatoon homes sold November 9-15, 2019



For the third week in a row, there were no overbid sales reported and just a small handful of trades that occurred at the seller’s asking price. Buyers came away from the negotiating table and closed their purchase at a discounted price in 46 of the week’s 51 sales. The average discount was $12,822.


Here is a breakdown of what the sales to listing price ratio looked like on this week’s sales. Please note that those sales that do show a sale price that is greater than the list price are all new properties that spent some period of time on the market, and most likely included additional improvements that were not reflected in the original list 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.


Sale price to list price ratios for Saskatoon homes sold through the MLS the week of November 9-15 2019



More weekly stats and numbers for those who love them. 

Saskatoon real estate statistics for MLS home sales from November 9-15, 2019



Thank you for reading TeamFisher’s Saskatoon Real Estate Week in Review.


I’m always happy to answer your Saskatoon real estate questions.  Reach out by voice or text at 306-241-6676 or email me at norm at teamfisher.com


Norm Fisher

Royal LePage Vidorra


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Canadian home prices rise in 14 of 18 major markets in October 2019: CREA


The Canadian Real Estate Association (CREA), recently released national sales statistics for October of 2019.


According to the report, "Home sales recorded via Canadian MLS® Systems remained steady in October 2019 following a string of monthly increases that began in March. Activity is now almost 20% above the six-year low reached in February 2019 but remains 7% below heights reached in 2016 and 2017."


"Recently, home price trends have generally been stabilizing in the Lower Mainland and the Prairies. While that remains the case in Calgary and Saskatoon, home prices in Edmonton and Regina have moved lower. By contrast, home price trends have started to recover in the GVA and the neighbouring Fraser Valley."



 

Highlights of CREA's report

  • National home sales held steady on a month-over-month (m-o-m) basis in October.
  • Actual (not seasonally adjusted) activity was up 12.9% year-over-year (y-o-y).
  • The number of newly listed properties declined by 1.8% m-o-m.
  • The MLS® Home Price Index (HPI) advanced by 0.6% m-o-m and 1.8% y-o-y.
  • The actual (not seasonally adjusted) national average sale price climbed 5.8% y-o-y.

Read the entire report on Canadian MLS® sales for October 2019.


I’m always happy to answer your Saskatoon real estate questions.  All of my contact info is here. Please feel free to call or email.


Norm Fisher

Royal LePage Vidorra

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Saskatoon real estate week in review for November 2-8, 2019 (edition #661)


Saskatoon real estate sales in the residential category fell lower this week to 58, down a dozen from last week, but up by 19 when compared against sales reported over the same period last year.


The number of new listings added to the multiple listing service® saw typical seasonal declines as well. Local REALTORS® listed 105 Saskatoon homes this week, down from 129 last week, for an annual decline of 14 properties.


Saskatoon residential MLS sales and and new listings for the week of November 2-8, 2019



MLS® inventory numbers took another drop, this one quite small. As of this morning, there are 1612 active listings within the city of Saskatoon, down just 13 from a week earlier. That said, listing numbers are sharply lower than they were a year ago when buyers could find 1749 homes offered for sale on the system.


Condo inventory is at 546 today, down from 651 at this time last year. The detached housing category has shown a higher number of listings annually almost every week this year, but this week there are just 987 units for sale, matching levels recorded a year ago. 


Active Saskatoon real estate listing on the MLS at November 9, 2019



While upper-end activity dominated the sales results last week, fewer of those buyers showed up during this period. This week we see just six sales at a price above $500,000. Entry-level buyers did come out and sales activity in price ranges below $250,000 was strong. This change drove the weekly median price lower to $317,500. The average sales price for the week followed along and fell to $325,588.


The six-week average price lost the gains it claimed last week and settled at $325,376 for an annual decline of $2500. Meanwhile, the four-week median price fell nine thousand dollars from last week’s close and an equal amount annually. It finished the week at just $307,000.


Average and median prices for Saskatoon homes sold November 2-8 2019



For the second consecutive week, there were no overbid sales reported, and just a small handful of trades that occurred at the seller’s asking price (all were new homes that may have included added value not accounted for in the original list price). Buyers closed their purchase at a discounted price in 53 of the week’s 58 sales. The average discount was $12,809.


Here is a breakdown of what the sales to listing price ratio looked like on this week’s sales. Please note that those sales that do show a sale price that is greater than the list price are all new properties that spent some period of time on the market, and most likely included additional improvements that were not reflected in the original list 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.


Sale price to list price ratios for Saskatoon homes sold through the MLS the week of November 2-8, 2019



More weekly stats and numbers for those who love them. 

Saskatoon real estate statistics for MLS home sales from November 2-8, 2019



Thank you for reading TeamFisher’s Saskatoon Real Estate Week in Review.


I’m always happy to answer your Saskatoon real estate questions.  Reach out by voice or text at 306-241-6676 or email me at norm at teamfisher.com


Norm Fisher

Royal LePage Vidorra


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Saskatoon housing market stays warm despite chilly October 2019: SRAR


The Saskatoon Region Association of REALTORS® recently released the official MLS® statistics for October 2019. The media release that accompanied the stats follows a short video with my thoughts on market changes.




Saskatoon — As the weather cooled in October, residential sales in Saskatoon, Prince Albert and the Battlefords warmed over last year, the Saskatoon Region Association of REALTORS® (SRAR) reported today. In the city of Saskatoon, sales rose seven per cent to 306, up from last October’s 285, helping to drive the dollar volume up five per cent to $97.5 million from $92.6 million. Listings also rose marginally to 599, up one per cent from 591. The average selling price fell two per cent to $318,450, down from $325,016.


Saskatoon MLS homes sales by month to October 2019



Trevor Schmidt, interim CEO of SRAR, noted that the average five-year median sales price — $333,154 has not changed much over the past several years.


“This year, we’re tracking at the same level as the five-year average,” he said. “The market is neither high nor low; it has stabilized.”


Saskatoon home prices by month and category to October 2019



Another indication of stability in the Saskatoon market is the average length of time it takes to sell a home. Both in October and year-to-date, that average was 54 days.


“The five-year average is 55,” noted Schmidt. “Things have been quite stable considering what’s happened with the economy.”


“It shows the importance of using a REALTOR® to price properties according to what’s happening in the market, which helps foster a quicker sale.”


Year-to-date, 6,992 homes have been listed to the Multiple Listing Service® System (MLS®), down two per cent from 7,111 in 2018. Of those, 3,160 have sold, up seven per cent from 2,962, at an average price of $331,349 — statistically stable with last year’s $332,012. The dollar volume broke through the billion-dollar mark to $1.05 billion, up six per cent from $983.4 million last year.


Saskatoon home prices by month and category to October 2019



In Saskatoon and area, which includes such communities as Dalmeny, Warman and Martensville, sales rose five per cent to 414, up from 393, in October. Year-to-date sales are up three per cent to 4,213 from 4,072, and also up from 4,099 in 2017.


Unit listings in the city and region fell two per cent to 889 from 904 last month, and also dropped two per cent year-to-date, ending October at 10,710, down from 10,895 in 2018. While the dollar volume was down two per cent in October, to $129.2 million from $132.4 million, the year-to-date volume is up two per cent to $1.365 billion from $1.342 billion.


The region alone saw a six per cent drop in listings, to 208 from 222, in October, and a seven per cent hike in sales to 88, up from 82 last year. Dollar volume in the region fell 13 per cent to $24.7 million from $28.5 million. The average selling price came in at $281,534, down 19 per cent from $348,038.


Active listings ended October down four per cent to 3,442 in Saskatoon and area, from 3,584 in 2018 and also down from 3,725 at this time in 2017. In the city, 1,712 listings were available, down five per cent from 1,808, and 1,020 homes were on the market in the region, down seven per cent from last year’s 1,095.


As always, I'm happy to answer your real estate questions. Feel free to call or text me at 306-241-6676, or reach me by email at norm@teamfisher.com.


Norm Fisher

Royal LePage Vidorra

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Saskatoon real estate week in review for October 26 - November 1, 2019 (edition #660)


Saskatoon real estate sales continued to show strength through the final week of October to close the month with a year-over-year increase in units traded that topped seven percent. Local REALTORS reported 70 firm residential sales to the multiple listings service®, up by four from the previous week, and higher annually by 35 sales.


New listing activity continued to show signs of decline. A total of 129 Saskatoon homes were offered for sale on the MLS®. That number is up by three from the previous week, and down by 22 compared to the same week last year.


Saskatoon residential MLS sales and and new listings for the week of October 26 - November 1, 2019



Strong sales, softer listing activity and a slew of listings that came to the end of their term without a sale brought the total number of Saskatoon real estate listings sharply lower. This morning, we see 1626 active listings on the MLS®, down 101 from a week ago, and lower than the number recorded at this time last year by 125. Expect to see a bump to the numbers next week as sellers regroup and bring their home back to the MLS for another go.


Today’s total includes 1055 single-family homes, about 68 more than could be found at this time last year. Condo inventory is at 555, down 108 units from a year ago.


Active Saskatoon real estate listing on the MLS at November 2, 2019



Following three weeks of activity that was largely driven by entry-level buyers, upper-end home sales had a solid run to push the weekly median price of a Saskatoon home higher by 67K. With a dozen sales topping the $500,000 mark, the weekly average price also surged higher to hit $362,800. That’s up nearly fifty thousand dollars from last week’s average.


The six-week average price headed up too, though far more modestly. That measure grew by $2500 from a week ago to reach $328,500. That’s about thirteen hundred dollars higher annually. Meanwhile, the four-week median sale price of a Saskatoon home remained unchanged from last week at $316,000. This measure is down annually by one thousand dollars.


Average and median prices for Saskatoon homes sold October 26 - November 1, 2019



For the first time in a couple of months, there were no overbid sales reported. Buyers had a good week at the negotiating table as 62 of the week’s 70 sales were reported to have sold below the asking price, netting an average discount of $13,199.


Here is a breakdown of what the sales to listing price ratio looked like on this week’s sales. Please note that those sales that do show a sale price that is greater than the list price are all new properties that spent some period of time on the market, and most likely included additional improvements that were not reflected in the original list 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.


Sale price to list price ratios for Saskatoon homes sold through the MLS the week of October 26 - November 1, 2019


More weekly stats and numbers for those who love them. 


Saskatoon real estate statistics for MLS home sales from October 26 - November 1, 2019


Thank you for reading TeamFisher’s Saskatoon Real Estate Week in Review.


I’m always happy to answer your Saskatoon real estate questions.  Reach out by voice or text at 306-241-6676 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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