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Saskatoon real estate week in review for June 29 - July 5, 2019 (edition #643)


Following a couple of banner weeks, Saskatoon real estate agents reported just 78 residential sales to the multiple listing service®, a drop of 24 from the week before to fall short of sales recorded during the same period last year by three.


New listing numbers moved in the opposite direction as 188 Saskatoon homes were added to the MLS® database. That number brings a weekly increase of 21 and an annual gain of eight.


Home sales and new MLS listings through the Saskatoon MLS for the week of July 5, 2019



Residential listings that show an “active” status on the Saskatoon MLS® system fell lower for the third consecutive week, this time falling by 29 units to finish the week lower on an annual basis by 124 homes. Total MLS® inventory has been maintaining five-year lows for each respective week since the end of January, with the last few weeks showing the largest annual losses we’ve seen since early spring.


The number of single-family homes for sale in the city grew by 11 compared to last week’s close to 1,133. That finish is higher on a year-over-year basis by just 17. Condo inventory fell by 41 from a week earlier to close this period at 686, which is 130 units below levels recorded at the close of the same week last year.


Active Saskatoon real estate listings on the MLS at July 6, 2019



With 20 homes sales reporting a sale price under 200K (15 of them entry-level condos), the weekly median price of a Saskatoon home tumbled lower to just $295,000. That’s down almost $50,000 from last week when buyers in the $500,000 price category showed up in big numbers. Entry level activity was so strong this week that the average price also fell sharply. It dropped about 32K to $333,406 in spite of the fact that two sales above one-million dollars skewed the measure higher.


The six-week average price of a Saskatoon home grew for the third week in a row to reach $336,462. That’s higher than it was a year ago by $14,000 but we’re looking back on a week that had taken a strange dip to rebound the following week. Meanwhile, the four-week median price saw its third consecutive weekly decline and finished the period at $317,500. That’s down $2500 from the close of the same week last year.


Saskatoon home prices (average and median) for the week of July 6, 2019



Three sellers closed a deal with a buyer willing to pay more than asking price. Those discounts averaged $5,267 thanks to one buyer who made a five-figure overbid to beat out competing buyers. On the flip side, 71 buyers stood firm and ground a deal that netted them a discount average $13,480.



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 July 6, 2019



More weekly stats and numbers for those who love them. 


Real estate statistics for Saskatoon homes sold July 1-5, 2017



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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Norm Fisher, Author of the TeamFisher Saskatoon Real Estate Blog

About Norm

Licensed in 1993, Norm brings a wealth of experience to TeamFisher. He has worked in every imaginable capacity including sales agent, office manager, team leader, broker and now, broker/owner. Norm has written a weekly review of the Saskatoon real estate market for more than 650 consecutive weeks which may make him the most consistent industry blogger in the world.Less...

Licensed in 1993, Norm brings a wealth of experience to TeamFisher. He has worked in every imaginable capacity including sales agent, office manager, team leader, broker and now, broker/owner. Norm has written a weekly review of the Saskatoon real estate market for more than 650 consecutive weeks which may make him the most consistent industry blogger in the world.

Norm is known for his passion for technology and can most often be found exploring and experimenting with the next big thing in real estate marketing. He was the first Saskatoon real estate agent to promote a home online and has been an early adopter of new technologies ever since. “Everything about this business has changed over the past 20 years, and it will happen again in the next ten. An open mind and a curious attitude are all that’s needed to continue to find new ways to serve our clients by delivering a faster, smoother, worry-free transaction,” says Norm.

In his spare time, Norm enjoys Crossfit and cycling, some years accumulating over 2,000 kilometres on the road. He’s a strong supporter of the Royal LePage Shelter Foundation and enjoys raising funds by joining fun, fitness-related initiatives like the Grouse Grind for Shelter. In 2015, he trekked the Peruvian Andes to Machu Picchu. In 2017 he walked the southern highlands of Iceland across mountains, sand, snow, ice, lava fields and forest for seven days. Collectively those initiatives raised over a million dollars for Canadian women's shelters.
 

Note: We are in the process of bringing this blog home to the TeamFisher.com domain and we have a lot of stuff to move! Another 700 posts can be found at normfisher.com where they'll remain until we can get them moved here.

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