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


"Home sales recorded over Canadian MLS® Systems fell by 3.9% between August and September 2022. From May through August, month-over-month declines have been progressively smaller. The September result marked a slight increase in the current sales slowdown that began with the Bank of Canada’s first rate hike back in March.  


"While about 60% of all local markets saw sales fall from August to September, the national number was pulled lower by the fact markets with declines included Greater Vancouver, Calgary, the Greater Toronto Area (GTA) and Montreal. 

 
"Breaking it down regionally, most of the recent monthly declines had been in markets across Ontario and, to a lesser extent, in B.C. The standout trend in August and September was that quite a few of those Ontario markets saw monthly price declines get stopped in their tracks, mainly in the Greater Golden Horseshoe. In a few markets prices even popped up a bit between August and September.

"Looking across the Prairies, prices in Edmonton and Winnipeg are down a bit from their peaks, while prices are sliding sideways in Calgary, Regina, and Saskatoon. Similarly in Quebec, prices have dipped in Montreal but are mostly flat in Quebec City." 

 


 

Highlights of CREA's report                

    • National home sales were down 3.9% on a month-over-month basis in September.
    • Actual (not seasonally adjusted) monthly activity came in 32.2% below September 2021.
    • The number of newly listed properties edged down 0.8% month-over-month.
    • The MLS® Home Price Index (HPI) declined by 1.4% month-over-month but was still up 3.3% year-over-year.
    • The actual (not seasonally adjusted) national average sale price posted a 6.6% year-over-year decline in September.


Read the recently released national sales statistics for September, 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


Saskatoon home sales saw a small weekly bounce as local REALTORS® reported 78 residential sales to the multiple listing service®, up 10 from last week, but lower by 14 when compared to sales for the same week last year.


The new listing activity also pushed higher, this week growing by four units to reach 154. We closed the week well down annually. Over the same period last year, 200 Saskatoon homes were listed for sale on the MLS®. 


Saskatoon real estate sales and new listings sold through the MLS from October 1-7, 2022



After five weeks with very little change from one week to the next, the total number of Saskatoon homes showing an active status on the MLS® finally slipped lower. As of this morning, there at 1171 residential properties for sale within city limits, down 26 from last week’s close, and lower annually by 164 properties.


On the heels of a listing surge, last week, that produced to first year-over-year increase we had seen in the single-family homes category in close to two years, we closed this week with 708 Saskatoon houses for sale. That’s lower than last week by 22, and down two from where it stood a year ago.


Condo inventory slipped 14 from last week to 391, to close the week lower annually by 152 units.


The number of Saskatoon homes to have sold over the most recent 30 days fell modestly lower, this week closing at 327 units, down just two from last week. This pushed “months of inventory” (MOI) modestly lower in two of the three categories we track.


All residential - 1171 active listings / 327 sales = 3.6 month supply (the same as last week).


Single-family homes - 708 listings / 201 sales = 3.5 month supply (down 0.1 months from last week).


Condos - 391 listings / 106 sales = 3.7 month supply. (down 0.2 months from last week). 


Active residential listings on the Saskatoon MLS on October 8, 2022


A surge in entry-level activity pushed the median sale price and the average sale price for the week sliding to their lowest levels this year. The median for the period was down 17K to $297,000. The average for the week took a huge tumble, falling more than 70K to just $323,283.


The six-week average price took its second consecutive decline, this week falling close to eleven thousand dollars to settle at $361,646. That is the lowest recorded number since the final week of March, but it’s still higher annually by about 5K.


The four-week median price continued to trend lower as it has been now for six weeks. It closed the period at $336,000. That’s lower than last week by nearly $7,000 and falls below the number recorded this same week last year by almost $4,000.


Average and median prices for Saskatoon homes sold through the MLS October 1-7, 2022



The number of homes that sold for a price greater than the listed price slipped lower to just five. Those five deals generated an average bonus of $13,150 thanks to one sale that was $35K above the asking price. Meanwhile, 67 deals were reported to have sold at less than the asking price by an average of $12,887.


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 October 1-7, 2022

More weekly stats and numbers for those who love them. 


Saskatoon real estate statistics for homes sold through the MLS from October 1-7, 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


Saskatoon real estate sales in the residential category slipped to their lowest point since mid-February this week. Local agents reported just 68 firm sales to the multiple listing service®, down six from last week, and lower annually by 31. 


The new listing activity also continued to fall to settle at 150 for a weekly drop of 15. That’s 21 fewer homes than hit the MLS® over the same period last year, and it’s the smallest number of Saskatoon homes listed during any week since late February.


Saskatoon real estate sales and new listings sold through the MLS from September 24-30, 2022



The inventory of active residential listings remained steady now for the fifth week in a row to create an unusual flatline on the listing chart which is normally slipping lower, fast, at this time of year. We finished the week with 1197 residential listings showing an active status, down just one from last week’s close, and lower on a year-over-year basis by 147.


The number of single-family homes for sale in Saskatoon grew by nine this week to close the week at 730. This marks the first week this year in which inventory actually grew on an annual basis in this category, which has consistently experienced serious lows, now for the better part of two years. There are 30 more houses showing as active on the MLS today than there were a year ago.


Condo inventory increased by two this week to 405 and finish the week lower on a year-over-year basis by 131 units.


The number of Saskatoon homes to have sold over the most recent 30 days continued to slip lower, as it does at this time of the year, this week dropping to 329, down 41 units from last week. This pushed “months of inventory” (MOI) significantly higher, and closer to “balance” in all three categories that we track. We will almost certainly be in balance in all three categories within the next two weeks.


All residential - 1197 active listings / 329 sales = 3.6 month supply (up 0.4 months from last week).


Single-family homes - 730 listings / 205 sales = 3.6 month supply (up 0.4 months from last week).


Condos - 405 listings / 104 sales = 3.9 month supply. (up 0.6 months from last week). 


Active residential listings on the Saskatoon MLS on September 30, 2022



The median sale price for the week slipped lower to $340,000, while the weekly average sale price of a Saskatoon home took a large jump to $394,260 due to the three highest-priced sales for the week that averaged more than $1.25 million dollars each.


The six-week average price of a Saskatoon home took its first drop in a few weeks’ time as it slipped close to seven thousand dollars from last week to $372,195. That remains 17K higher than it was at the close of the same week last year.


Meanwhile, the four-week median price grew by a couple of hundred dollars to hit $344,750 which is up annually by just under fifteen thousand dollars.


Average and median prices for Saskatoon homes sold through the MLS September 24-30, 2022



In spite of softening demand and stable inventory, seven home sellers managed to close a deal for more money than they had been asking, but the average overbid tumbled by more than 60%. Those seven deals, on average, paid seller’s a bonus of $4,814. 


There was just one sale that reported a “full price” transaction, while 60 of the week’s 68 transactions closed below the list price generating an average discount of $17,987. 


It’s worth pointing out that this “discount” was significantly skewed higher by the top-dollar sale which went $350K below the list price. If you remove that single sale from the mix, the average discount is about twelve thousand dollars, which is more typical of what we’ve been seeing in recent weeks.


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 September 24-30, 2022


More weekly stats and numbers for those who love them. 


Saskatoon real estate statistics for homes sold through the MLS from September 24-30, 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


After falling to their lowest level since mid-February last week, Saskatoon real estate sales increased slightly to reach 74. That’s up two from last week and well down from the same week last year when 110 Saskatoon homes traded hands.


The new listing activity continued its downward trend falling 14 units on a weekly basis to settle at 165, which is higher annually by 35.


Saskatoon real estate sales and new listings sold through the MLS from September 17-23, 2022



At a time of year when declines are typical, the inventory of available residential listings on the MLS® remained stable for the fourth consecutive week. There are currently 1198 Saskatoon homes showing an active status on the system, down just four from last week and lower on a year-over-year basis by 172 listings. 


Single-family homes inventory grew by 10 this week reaching 721, which is just seven fewer options than could be found on the multiple listing service® at this time last year. 


There are currently 403 condos for sale in Saskatoon, down four from last week and well down from 563 at this time last year.


The number of Saskatoon homes to have sold over the most recent 30 days continued to slip lower, as expected, this week falling by 17 units to 370. This pushed “months of inventory” (MOI) slightly higher in two of the three categories we track.


All residential - 1198 active listings / 370 sales = 3.2 month supply (up 0.1 months from last week).


Single-family homes - 721 listings / 226 sales = 3.2 month supply (up 0.2 months from last week, now for the second week in a row).


Condos - 403 listings / 124 sales = 3.3 month supply. (the same as last week). 


Active residential listings on the Saskatoon MLS on September 23, 2022



The median sale price for the week slipped lower to $352,500, while the weekly average sale price of a Saskatoon home inched higher to reach $369,584.


The six-week average price continued to hover in the same range, now for the third week in a row. It’s currently at $379,018 which is up nearly 35K on an annual basis.


The four-week median price continued to fall lower for the fourth week in a row suggesting that the upper-end housing market is cooling more quickly than they are at the lower end. This measure came in at $344,500. That’s down from $359,900 last week but higher than it was at the close of the same week last year by more than $35,000. 


I should note that at this time last year, a barrage of entry-level sales that persisted for a few weeks had pushed both the six-week average and the four-week median near its annual low. We should expect to see these year-over-year gains moderate in the weeks ahead.


Average and median prices for Saskatoon homes sold through the MLS September 17-23, 2022



The number of Saskatoon home sellers lucky enough to wrap a deal for more than they’d been asking grew from eight to nine while the average overbid amount increased modestly to $12,659. Larger gains were seen in the “sold at list price” category with 12 sales. The remaining 53 deals reported a price below the list price by an average of $12,312.


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 September 17-23, 2022


More weekly stats and numbers for those who love them. 


Saskatoon real estate statistics for homes sold through the MLS from September 17-23, 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


Saskatoon home sales fell lower for the second week in a row, this period settling at 72. That’s down 13 on a weekly basis, and shy of sales for the same week last year by 11. It’s the lowest number of sales for any week since mid-February.


A total of 179 Saskatoon real estate listings were added to the MLS® database this week, up five from last week but lower annually by seven.


Saskatoon real estate sales and new listings sold through the MLS from September 10-16, 2022



The active listing inventory remained steady compared to last week with 1202 Saskatoon homes displaying an active status. The listing numbers are still well down from where they were last year at this time when 1412 residential properties were for sale.


Single-family homes inventory fell by two to 711 units for an annual drop of 40. Condo inventory grew by nine from last week to close this period at 407, which is lower on a year-over-year basis by 178.


Months of inventory” (MOI) showed some modest growth in all three categories that we track as 30-day sales fell lower again, this week falling by 20 units to settle at 386. That’s the lowest number recorded since early March. 


Here’s what MOI looks like in each of those three categories.


All residential - 1202 active listings / 386 sales = 3.1 month supply (up 0.1 months from last week).


Single-family homes - 711 listings / 241 sales = 3.0 month supply (up 0.2 months from last week).


Condos - 407 listings / 125 sales = 3.3 month supply. (up 0.1 months from last week). 


Active residential listings on the Saskatoon MLS on September 17, 2022



A very active upper-end market pushed the weekly median price sharply higher to $360,500 even as the average sale price for the week slipped lower to $355,441.


Meanwhile, both of our longer-term measures took a small dip.


The four-week median price, saw its third consecutive weekly decline as it slipped lower to $359,900 to record a weekly drop of just over 5K, and an annual gain of nearly thirty-thousand dollars. 

The six-week average price took its first decline after four weeks of growth. It slipped just over a thousand dollars from last week to finish up on a year-over-year basis by a little more than 25K.


Average and median prices for Saskatoon homes sold through the MLS September 10-16, 2022



For the second week in a row, just eight sellers wrapped up a deal for more than their asking price, but the average overbid more than doubled last week’s number as it hit $11,250. There were 59 of the week’s 72 sales reporting a price below the list price by $11,517 on average.


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 September 10-16, 2022

More weekly stats and numbers for those who love them. 


Saskatoon real estate statistics for homes sold through the MLS from September 10-16, 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 Canadian Real Estate Association (CREA) recently released national sales statistics for August of 2022.


"Home sales recorded over Canadian MLS® Systems edged down a slight 1% between July and August 2022. While this was the sixth consecutive month-over-month decline in housing activity, it was the smallest of the six as the national sales slowdown triggered by rising interest rates continues to moderate. 


"Breaking it down regionally, most of the monthly declines in recent months have been in markets across Ontario and, to a lesser extent, in British Columbia; however, in August it was Ontario markets that contributed most to the overall national decline.


"Looking across the Prairies, prices in Alberta appear to have peaked. Prices are still rising slightly in Saskatchewan, while Manitoba recorded the only decline. In Quebec, prices have dipped somewhat in the last couple of months. On the East coast, the softening of prices that had been confined to Halifax-Dartmouth is now also appearing in New Brunswick and Newfoundland and Labrador. By contrast, prices in PEI continue to edge ahead on a month-over-month basis."
 


 

Highlights of CREA's report                

  • National home sales edged down 1% on a month-over-month basis in August.
  • Actual (not seasonally adjusted) monthly activity came in 24.7% below August 2021.
  • The number of newly listed properties dropped 5.4% month-over-month.
  • The MLS® Home Price Index (HPI) edged down 1.6% month-over-month but was still up 7.1% year-over-year.
  • The actual (not seasonally adjusted) national average sale price posted a 3.9% year-over-year decline in August
Read the recently released national sales statistics for August 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


Read


On the heels of a surge just last week, Saskatoon real estate sales fell lower by 16 units to settle at 85, enough to match the number of sales posted for the same week last year.


The new listing activity moved in the opposite direction growing by 15 on a weekly basis to reach 174 units. That’s 34 fewer Saskatoon homes that were offered up for sale during the same week last year.


Saskatoon real estate sales and new listings sold through the MLS from September 3-9, 2022



Buoyed by the return of several residential listings that expired at the close of August, the active listing inventory on the Saskatoon MLS® took an upward turn as it grew by six to break the 1200 mark again. Today, there are 1202 Saskatoon homes for sale which is lower than the numbers recorded a year ago by 199.


A closer look by category shows 713 single-family homes for sale, up ten from last week’s close and lower annually by ten. Additionally, there are 398 condominiums showing an “active” status, That’s down by seven from last week’s close and lower on a year-over-year basis by 181.


Months of inventory” (MOI) bounced higher in all three categories that we track and most of the declines recorded the previous week were erased as 30-day sales fell lower by 15 units and fell to 406. Here’s what MOI looks like in each of those three categories.


All residential - 1202 active listings / 406 sales = 3.0 month supply (up 0.2 months from last week).


Single-family homes - 713 listings / 259 sales = 2.8 month supply (up 0.2 months from last week).


Condos - 398 listings / 128 sales = 3.2 month supply. (up 0.2 months from last week). 


Active residential listings on the Saskatoon MLS on September 10, 2022



Strong condo sales at price points below the quarter million dollar mark led to another reduction in the weekly median price. It slipped just under four thousand dollars to $331,000. Meanwhile, a growing percentage of total sales reporting a price above the half-million dollar mark pushed the weekly average sale price up a little more than 15K to $373,380.


The six-week average price headed for higher ground, now for the fourth consecutive week. During this period, it grew by a little more than four grand to $379,398 to finish the week up annually by twenty-four thousand dollars.


The four-week median price remained stable (down by just $17 from last week) at $364,983. That is higher on a year-over-year basis by $45,000.


Average and median prices for Saskatoon homes sold through the MLS fSeptember 3-9, 2022



The largest shift that occurred this week is seen in the “overbid” stats as just eight sales reported a price above the seller’s asking price. That’s roughly ten percent of total sales, compared to 17 percent the week before. Additionally, the average overboard amount fell sharply to just $4,987, down for more than 13K last week. This average was skewed higher by one sale that went over the seller’s asking price by $18,000. 


For the second week in a row, we are also seeing a fairly sharp drop in the number of homes that sold for the full list price. Just seven sales were reported as full-price sales.


Meanwhile, 73 sales were reported to have sold below the list price generating an average discount of $12,007.


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 September 3-9, 2022

More weekly stats and numbers for those who love them. 

Saskatoon real estate statistics for homes sold through the MLS from September 3-9, 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

A new report released this week by TD suggests shows that Canadian home prices have been slipping rapidly in recent months and could fall as much as 25% by spring of next year.


However, declines are most significant in BC and Ontario and regional "nuances" could push prices higher in some areas, like Saskatchewan where prices are predicted to grow through Q1, 2023.


Read the full report from TD here.


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


For the first time in four weeks, Saskatoon home sales moved back into triple-digit territory as local agents reported 101 firm residential sales. That’s up from 91 last week but it falls short of numbers generated over the same week last year by 15.


The new listing activity moved in the opposite direction as just 158 Saskatoon homes were offered for sale on the multiple listing service®.  That number is down just four from the previous week, and higher annually by six.


Saskatoon real estate sales and new listings sold through the MLS from August 27 - september 2, 2022



For the second week in a row, the number of homes available in Saskatoon on the MLS® system fell lower, this week rather sharply, thanks to a good handful of listings that expired without a sale as August closed. Today, we have just 1196 active residential listings, down 73 from last week’s close, and lower than it was at this time last year by 186.


Among those listings are 703 single-family homes, down 25 from a week ago, and lower annually by 20. Additionally, the inventory shows 405 condominiums for sale, well down from 441 last week, and further down from 575 at this time last year.


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


The number of homes to have sold in Saskatoon over the past 30 days nudged up by two from last week to 421. Together with a drop in active listings, months of inventory fell lower in the three categories we track.


All residential - 1196 active listings / 421 sales = 2.8 month supply (down 0.2 months from last week).


Single-family homes - 703 listings / 269 sales = 2.6 month supply (down 0.1 from last week).


Condos - 405 listings / 131 sales = 3.0 month supply. (down 0.3 months from last week). 


Active residential listings on the Saskatoon MLS on September 2, 2022



With fewer than 20 sales reporting a price greater than $500K both the weekly average price and the weekly median price slipped lower to $358,214 and $334,900 respectively.


Meanwhile, the six-week average price took its third consecutive weekly increase as it rose just under a thousand bucks to reach $374,817 to take an annual gain of 20K. 


The four-week median price, after growing for three weeks took a downward turn slipping just under a thousand dollars to settle at $365,000 which is up 40K from the same week last year.


Average and median prices for Saskatoon homes sold through the MLS from August 27 - September 2, 2022


This week, 17 Saskatoon homes sold for more than the seller’s list price by an average of $13,182 while 77 deals closed below the asking price with an average discount of $11,153.


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 27 - September 2, 2022


More weekly stats and numbers for those who love them. 

Saskatoon real estate statistics for homes sold through the MLS from August 27 - September 2, 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 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


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).
The above information is from sources deemed reliable but should not be relied upon without independent verification. The information presented here is for general interest only, no guarantees apply.
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