The Saskatchewan REALTORS® Association recently released MLS® statistics for November of 2020. The text below is directly from their media release. The graphics are ours.

Sales in Saskatoon were up 47.3%, going from 243 in November of 2019 to 358 in November of 2020, and up 47.0% in the overall region, going from 317 to 466. 

In Saskatoon, sales were 37.3% above the 5-year average (and 32.1% above the 10-year average), while in the larger region, sales were 31.9% above the 5-year average (and 24.3% above the 10-year average). Year-to-Date (YTD) sales in Saskatoon rose 17.2% over last year, increasing from 3,411 to 3,998, while YTD sales in the larger region rose 22.0%, going from 4,575 to 5,580. 

Sales volume was up 44.3% in the city, going from $80.9M to $116.8M in 2020 (31.3% above the 5-year average, and 24.4% above the 10-year average). YTD sales volume in the city was $1,376.5M, an increase of 21.8% from last year. In the region, sales volume was up 27.5%, going from $1,440.7M to $1,837.3M (30.9% above the 5-year average and 24.1% above the 10-year average). YTD sales volume increased 27.5% in the region, rising from $1,440.7M in 2019 to $1,837.3M in 2020.

In Saskatoon, the number of new listings in November of 2020 fell 6.0%, going from 451 to 424 (20.2% below the 5-year average and 20.0% below the 10-year average), while in the region, new listings fell 9.5% from 629 last year to 569 this year (22.5% below the 5-year average and 22.6% below the 10-year average). YTD new listings in the city fell 3.7%, going from 7,443 to 7,167, while in the larger region, the number of new listings to date fell 6.4%, going from 10,874 to 10,179. Active listings fell 22.4% in Saskatoon (down from 1,528 to 1,186) and fell 26.7% in the region (down from 2,830 to 2,075). 

Inventory in Saskatoon stood at 3.3 months (which is 47.3% below the level last year and 49.6% below the 5-year average), while the sales to listing ratio was 84.4%, suggesting that market conditions favour sellers. Inventory in the larger region stood at 4.5 months (which is 50.1% below the level last year and 46.8% below the 5-year average), while the sales to listing ratio was 81.9%, suggesting that market conditions favour sellers. 

Homes in Saskatoon stayed on the market an average of 41 days in November—down 28.1% from 57 days last year (but below the 5-year average of 52 days and below the 10-year average of 50 days). Homes in the region stayed on the market longer than homes in the city at 48 days on average in 2020, but also down from an average of 63 days last year (and 20.3% below the 5-year average). 

Median home prices in Saskatoon went from $327,000 to $314,500 (a decrease of 3.8%) and were approximately 3.6% below the 5-year and 4.2% below the 10-year average median price. The MLS® Home Price Index (HPI)—a more accurate measure of house price trends—is up 5.4% from $306,600 to $323,400. Year-to-date, the median home price in Saskatoon was $329,559 which is 3.0% above the $320,000 price from the same time last year. Median home prices in the region went from $319,000 to $307,450 (a decrease of 3.6%) and were approximately 1.8% below the 5-year and 1.6% below the 10-year average median price. Year-to-date, the median home price in the region was $313,589 which is 3.9% above the $301,827 price from the same time last year.

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TeamFisher.com hosted nearly a quarter of a million user sessions and displayed more than 2.8 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 306-241-6676 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra

The Saskatchewan REALTORS® Association recently released MLS® statistics for October of 2020. The text below is directly from their media release. the graphics are ours.

Sales in Saskatoon were up 40.5%, going from 306 in October 2019 to 430 in October 2020, and up 42.6% in the overall region, going from 411 to 586. In Saskatoon, sales were 32.5% above the 5-year average (and 30.5% above the 10-year average), while in the larger region, sales were 29.8% above the 5-year average (and 26.6% above the 10-year average). Year-to-Date (YTD) sales in Saskatoon rose 14.9% over last year, increasing from 3,168 to 3,641, while YTD sales in the larger region rose 20.1%, going from 4,258 to 5,114. 

Sales volume was up 56.4% in the city, going from $96.7M to $151.2M in 2020 (38.9% above the 5-year average, and 33.5% above the 10-year average). YTD sales volume in the city was $1,260.3M, an increase of 20.1% from last year. In the region, sales volume was up 26.2%, going from $1,338.0M to $1,688.0M (38.1% above the 5-year average and 34.0% above the 10-year average). YTD sales volume increased 26.2% in the region, rising from $1,338.0M in 2019 to $1,688.0M in 2020. 

In Saskatoon, the number of new listings in October 2020 rose 4.0%, going from 599 to 623 (5.1% below the 5-year average and 6.9% below the 10-year average), while in the region, new listings fell 2.5% from 857 last year to 836 this year (9.8% below the 5-year average and 11.7% below the 10-year average). YTD new listings in the city fell 3.5%, going from 6,992 to 6,744, while in the larger region, the number of new listings to date fell 6.2%, going from 10,245 to 9,610. Active listings fell 20.6% in Saskatoon (down from 1,729 to 1,372) and fell 25.6% in the region (down from 3,145 to 2,341). 

Inventory in Saskatoon stood at 3.2 months (which is 43.5% below the level last year and 43.5% below the 5-year average), while the sales to listing ratio was 69.0%, suggesting that market conditions favour sellers. Inventory in the larger region stood at 4.0 months (which is 47.8% below the level last year and 43.4% below the 5-year average), while the sales to listing ratio was 70.1%, suggesting that market conditions favour sellers. 

Homes in Saskatoon stayed on the market an average of 42 days in October—down 20.8% from 53 days last year (but below the 5-year average of 51 days and below the 10-year average of 46 days). Homes in the region stayed on the market longer than homes in the city at 50 days on average in 2020, but also down from an average of 63 days last year (and 16.4% below the 5-year average). 

Median home prices in Saskatoon went from $302,500 to $330,000 (an increase of 9.1%) and were approximately 2.5% above the 5-year and 0.9% above the 10-year average median price. The MLS® Home Price Index (HPI)—a more accurate measure of house price trends—is up 0.3% from $322,700 to $323,600. Year-to-date, the median home price in Saskatoon was $331,065 which is 3.7% above the $319,300 price from the same time last year. Median home prices in the region went from $287,500 to $320,000 (an increase of 11.3%) and were approximately 4.8% above the 5-year and 3.4% above the 10-year average median price. Year-to-date, the median home price in the region was $314,252 which is 4.7% above the $300,110 price from the same time last year. 

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TeamFisher.com hosted nearly a quarter of a million user sessions and displayed more than 2.8 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 306-241-6676 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra

________________________________

TeamFisher.com hosted nearly a quarter of a million user sessions and displayed more than 2.8 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 306-241-6676 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra

The Saskatchewan REALTORS® Association recently released statistics for MLS® sales in the month of August of 2020. The following text is taken directly from their media release.

The Saskatchewan REALTORS® Association released the official MLS® statistics for the month of June yesterday.

Local real estate agents reported a total of 515 residential sales for the month. That's up 38 percent from last June, and the strongest sales month since the market peaked in June 2014.

Single-family home sales showed the strength with 369 properties trading hands, up from 265 last June. Condo sales reached 129, to produce a peak month in the previous five years, for an annual gain of 36.

New listing activity grew to 830 in Saskatoon to finish up annually for the first time since January as sellers rushed to take advantage of a buoyant market.

Meanwhile, active listing inventory grew modestly from last month's close and reached 1585, down from 1972 a year ago,

The market closed the month with just a three month supply of homes, the lowest we've seen since 2007 when the Saskatoon real estate market experienced its first significant boom.

Prices increased for every housing category this month, except for townhomes. They remained fairly flat on an annual basis, with townhomes being the exception. Prices for a townhouse grew nearly 2.5% from last year at this time.

The full media release from SRA can be found in the comments section below.

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I'm upped my Facebook and Instagram game. Follow me to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.

TeamFisher.com hosted nearly a quarter of a million user sessions and displayed more than 1.2 million pages to our visitors in 2019. 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 306-241-6676 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra

Saskatoon real estate sales showed remarkable improvement during the month of May as both buyers and sellers grew more comfortable with the idea of getting into the market. The number of firm residential trades grew from 213 in April to 326 in May.

To be clear, 326 sales amounts to a drop 22.6% compared to last May, but April had plunged 46% so the May stats deliver some relief. It’s also worth noting that sales numbers grew each week through May.

New listing numbers also saw significant growth on a month-over-month basis. Over May, local REALTORS® added 756 Saskatoon homes to the MLS® database, up from 494 the month before, and down 155 units when compared to May of 2019.

The total number of Saskatoon homes for sale increased by 140 over the course of the month to settle at 1500 at the close of May. That number is down about 23% on an annual basis.

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The average selling price of a Saskatoon home hit $359,304. That’s up about 26K from last May. At a glance, this number appears to have been skewed higher by a solid number of sales above the $700,000 mark.

A closer look at the MLS® Home Price Index numbers shows that the benchmark price of a single-family home slipped roughly $2700 from last May to $306,500. Townhome prices showed annual growth for the fourth consecutive month. The benchmark price in this category is $236,200 and that’s up more than $17,000 annually. The benchmark apartment price was $169,100. That’s exactly where it was a year ago and it’s the first time in roughly five years that this category did not show an annual decrease.

The Saskatchewan REALTORS® Association has not issued their media release but I will add it to the comments below when they do.

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I'm upping my Facebook and Instagram game. Follow me to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.

TeamFisher.com hosted nearly a quarter of a million user sessions and displayed more than 1.2 million pages to our visitors in 2019. 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 306-241-6676 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra

The Saskatchewan REALTORS® Association released official MLS® stats for March 2020 this week. Here is the media release that accompanied the report.

There can be no denying that COVID-19 has had a tremendous impact on global and local markets. While the true extent of the pandemic’s effects will not be known for some time, we can begin to get an idea of how markets are being affected. 

In Saskatchewan, the number of residential sales was unchanged while total sales volume increased 5.6 percent. While reports have suggested that real estate markets in countries hit with COVID-19 have seen the total number of transactions decline significantly, the Saskatchewan real estate market hasn’t been negatively impacted to date. However, what data exist suggests that it takes time for transaction volumes to fall, and as the environment continues to change and markets react to new policy measures, we should expect to see impacts emerge in the future. 

"Other markets have seen significant declines in transactions as a result of COVID-19 or other previous pandemics," says Jason Yochim, CEO of the Saskatchewan REALTORS® Association.

"While we should expect to see transaction volumes decline in the wake of COVID-19 as well, the combination of low-interest rates and declining inventories should make for a strong recovery once this temporary crisis is over."

Sales in Saskatoon were up 6.2 percent, going from 258 in March 2019 to 274 in March 2020, and up 7.2 percent in the region, going from 346 to 371. In both Saskatoon and the broader region, sales were less than 2.0 percent below the 5-year average while they were more than 10 percent below the 10-year average. 

Year-to-Date (YTD) sales in Saskatoon rose 8.2 percent over last year, increasing from 668 to 723, while YTD sales in the larger region also increased 8.8 percent, going from 891 to 969. 

Although total sales and sales volume were up, the number of new listings in March 2020 fell significantly from the number last year. In Saskatoon, new listings fell 14.2 percent, going from 702 to 602 (over 17.0 below the 5-year and 10-year averages), while in the region, the situation was even worse, with new listings falling 19.5 percent from 1,037 last year to 835 this year. 

Active listings also fell 9.9 percent in Saskatoon (down from 1,611 to 1,452) and 7.8 percent in the region (down from 2,864 to 2,641). 

The sales to listing ratio was 45.5 percent in Saskatoon and 44.4 percent in the region suggesting somewhat balanced market conditions in the area. 

Homes in Saskatoon stayed on the market an average of 55 days in March, down a modest 3.5 percent from 57 days last year (but still slightly above the 5-year average of 54 days). Homes in the region stayed on the market somewhat longer than homes in the city at 66 days on average in 2020, but also down from an average of 68 days last year. 

Average home prices in Saskatoon went from $316,737 to $347,189 (an increase of 9.6 percent) and were approximately 3.0 percent above the 5-year and 10-year average price. 

The MLS® Home Price Index (HPI)—a more accurate measure of house price trends—is down 0.3 percent from $303,200 to $302,200. Average home prices in the region also increased by 8.4 percent, going from $306,161 to $331,793, which is also approximately 3.0 percent above historical averages. 

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I'm upping my Facebook and Instagram game. Follow me to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.

TeamFisher.com hosted nearly a quarter of a million user sessions and displayed more than 1.2 million pages to our visitors in 2019. 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 306-241-6676 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra

The Saskatchewan REALTORS® Association released official MLS® stats for February 2020 today. Here is the media release that accompanied the report.

Saskatoon and region continued to show growth in the residential real estate market in February.

Sales of 230 in the city were up 9% from 211 in February 2019, and the region saw sales grow 11% from 283 last February to 314. Sales were above the 5-year average of 295, but still below the 10-year average of 338. Year to date (YTD), sales were up over last year; 9% in the city, from 412 to 449, and 8.6% in the full region from 556 to 604.

The sales dollar volume was also up. In the city, there was a 3.2% increase of $73.7M over last February, and in the region, last month’s $93.5M sales were up 7.4% over 2019’s $87.1M. YTD sales dollar volume was up 10% in the city to $145.1M and up 7.6% in the region to $183.7M.

The number of new listings decreased in both the city, down 2.7% from 481 to 468, and in the region, down 3.2% from 709 to 686. The 2,588 active listings in the region were down from 2,699 in 2019 and the 5-year average of 2,781, however still above the 10-year average of 2,494.

The sales to listing ratio in Saskatoon is 49%, and 46% in the region. Balanced market conditions exist in the 40-60% range, while below 40% is considered to favour buyer’s, and over 60% suggests a seller’s market.

Homes were on the market an average of 82.9 days in the region, up from 69.4 days at the same time last year, and 73.7 days in the city, up from 58.5.

The average home price in the city was $320,249, down 5.3% from $338,268 at this time in 2019. The MLS® Home Price Index (HPI), a more accurate measure of housing price trends, however, is up 1.1% from $282,500 last year to $285,600. In the region, the average home price was down 3.2% to $297,724.

“We see the trend of increased sales and decreased listings continue in Saskatoon and region,” says Jason Yochim, CEO of the Saskatchewan REALTORS® Association (SRA). “If this continues, we anticipate seeing prices increase. Upcoming changes to the mortgage stress test rules this April will likely start to positively affect our residential markets, as well, and we should see more potential home buyers qualifying for mortgages and subsequently entering the market.

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I'm upping my Facebook and Instagram game. Follow me to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.

TeamFisher.com hosted nearly a quarter of a million user sessions and displayed more than 1.2 million pages to our visitors in 2019. 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 306-241-6676 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra