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Saskatoon home sales continue to blaze through September 2020: SRA


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

Sales in Saskatoon were up 41.0%, going from 305 in September 2019 to 430 in September 2020, and up 54.4% in the overall region, going from 423 to 653. In Saskatoon, sales were 28.4% above the 5-year average (and 23.7% above the 10-year average), while in the larger region, sales were 41.7% above the 5-year average (and 34.2% above the 10-year average). Year-to-Date (YTD) sales in Saskatoon rose 12.3% over last year, increasing from 2,862 to 3,215, while YTD sales in the larger region rose 17.9%, going from 3,847 to 4,535.


Sales volume was up 43.0% in the city, going from $107.7M to $154.0M in 2020 (39.3% above the 5-year average, and 31.3% above the 10-year average). YTD sales volume in the city was $1,110.4M, an increase of 16.6% from last year. In the region, sales volume was up 22.8%, going from $1,213.9M to $1,490.6M (47.8% above the 5-year average and 42.0% above the 10-year average). YTD sales volume increased by 22.8% in the region, rising from $1,213.9M in 2019 to $1,490.6M in 2020.


Saskatoon homes sales by month to September, 2020



In Saskatoon, the number of new listings in September 2020 rose 13.4%, going from 717 to 813 (3.4% above the 5- year average and 4.0% above the 10-year average), while in the region, new listings rose 6.7% from 1,000 last year to 1,067 this year (3.6% below the 5-year average and 1.3% above the 10-year average). YTD new listings in the city fell 4.2%, going from 6,393 to 6,123, while in the larger region, the number of new listings to date fell 6.5%, going from 9,388 to 8,777. Active listings fell 18.0% in Saskatoon (down from 1,906 to 1,563) and fell 22.1% in the region (down from 3,452 to 2,690).


Inventory in Saskatoon stood at 3.6 months (which is 41.8% below the level last year and 38.8% below the 5-year average), while the sales to listing ratio was 52.9%, suggesting balanced market conditions. Inventory in the larger region stood at 4.1 months (which is 49.5% below the level last year and 46.2% below the 5-year average), while the sales to listing ratio was 61.2%, suggesting that market conditions favour sellers.


New and active Saskatoon real estate listings by month to September 2020



Homes in Saskatoon stayed on the market an average of 40 days in Septemberdown 27.3% from 55 days last year (but below the 5-year average of 52 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 51 days on average in 2020, but also down from an average of 66 days last year (and 16.7% below the 5-year average).


Median home prices in Saskatoon went from $329,900 to $345,000 (an increase of 4.6%) and were approximately 4.6% above the 5-year and 6.0% above the 10-year average median price. The MLS® Home Price Index (HPI)a more accurate measure of house price trendsis up 1.0% from $319,400 to $322,700. Year-to-date, the median home price in Saskatoon was $331,183 which is 3.1% above the $321,167 price from the same time last year. Median home prices in the region went from $310,000 to $330,000 (an increase of 6.5%) and were approximately 6.5% above the 5-year and 7.0% above the 10-year average median price. Year-to-date, the median home price in the region was $313,614 which is 4.0% above the $301,511 price from the same time last year.


Saskatoon home prices by month and category to September 2020



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Norm Fisher

Royal LePage Vidorra

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Norm Fisher, TeamFisher

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.
 

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