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Saskatoon real estate week in review for April 10-16, 2021 (edition #736)


After three consecutive weeks of declines, the Saskatoon real estate sales grew as local REALTORS® reported 129 firm sales to the multiple listing service®. That’s up from 113 last week, and well above the 40 homes that traded over the same week last year.


At the midpoint of April, there were 1447 residential sales reported to the MLS®. That amounts to a 77 percent increase on a year-over-year basis, and I believe it to be a record sales level for any year in Saskatoon’s history. 


New listing activity reached a new weekly peak for 2021 with 241 Saskatoon homes being offered for sale, up from 225 last week, and well more than doubling new listings when compared against the same period last year when they fell to just 101.


Saskatoon MLS residential sales and new listings for the week of April 10-16, 2021



Active listing inventory grew higher for the eighth consecutive week to reach 1355. That is up 49 from last week’s close, but lower than where it sat at this time last year by just 63 units. That is the smallest year-over-year decline to the active listings numbers since early March of last year when new listing activity lost momentum due to early COVID concerns.


Today, there are 621 single-family homes for sale in Saskatoon, up from 595 a week ago, and down from 830 annually. There are 661 active condo listings, which is up 18 from last week, and up 147 units from a year ago.


30-day sales grew again increasing from 574 last week to 585 this week.


Here’s what “months of inventory ” look like across the broader market, and by category.


All residential - 1355 active listings / 585 sales = 2.3 month supply. (Precisely where we stood a week ago. Seller’s market conditions).


Single-family homes - 621 listings / 397 sales = 1.6 month supply (Again, this is the same as last week. Extreme seller’s market conditions).


Condos - 661 listings / 156 sales = 4.2 month supply. (This is up from 4.0 months last week and now the 11th consecutive week in which condos are in a balanced market territory).


Active Saskatoon real estate listings on the MLS at April 16, 2021



Solid activity above the $500,000 range pushed the weekly median price and the weekly average sale price higher to $374,000 and $379,803 respectively.


The six-week average price grew to $371,150 to reach a new weekly high for the year, and in fact, forever. That measure grew roughly $5,400 from the week before to finish higher annually by $11,500. The four-week median price took a weekly jump from $355,000 to $360,000. It’s up by $40,000 from where it was at the close of the same week last year.


Average and median prices of Saskatoon homes sold through the MLS from April 10-16, 2021



Sellers had their best week yet this year with 34 of the week’s sales reported having sold at a price that was above the seller’s asking price with an average overbid of $10,009. This number is skewed by a handful of exceptionally high overbids including four sales that went more than 20K above the asking price. Meanwhile, 74 sales closed below the asking price with an average discount of $10,048.


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.


List price to sale price ration of Saskatoon homes sold through the MLS from April 10-16, 2021



More weekly stats and numbers for those who love them. 


Saskatoon real estate statistics for homes sold through the MLS from April 10-16, 2021


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TeamFisher.com hosted over 350,000 user sessions in the past year and displayed more than three 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



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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 750 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 750 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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