Saskatoon real estate week in review for August 12-18, 2018

In last week’s Saskatoon real estate week in review, I described sales numbers as having seemingly fallen off a cliff. Apparently, we had not yet reached to bottom of that cliff. This past week, residential sale numbers fell a little further, from 63 the week before to just 51. That’s lower than sales for the same period last year by 21.

After an exceptional July which produced a 25 percent sales increase over the previous year, August seems determined to give up a good chunk of those gains. At this point in the month, we’re about 15 percent behind where were by this time last August.

While not much exciting was happening on the sales front. Saskatoon real estate agents were kept busy bringing new listings to the MLS® system. Over the course of the week, 182 residential properties were added to the database of the multiple listing service®, up

45 from last week, but about even when compared to the same period of August last year.


Given the large gap between sales and new listings, the inventory of Saskatoon homes for sale on the MLS® grew by 23 this week to reach 2045. That’s down 208 properties from where it stood a year ago. The number of available detached homes climbed 20 from last week to 1137 but still finished lower than last year’s numbers by 145. Meanwhile, the number of condominiums for sale grew by nine from a week earlier and reached 783 for an annual drop of 82 units.


Area four (West from Idylwyld to Circle Drive) failed to record a single sale this week. Off the top of my head, I can’t recall another time that that has happened in any of the major areas as long as I’ve been writing this weekly review. Absent any sales numbers for that area, both the weekly median and the weekly average price grew by around $20,000 to $340,000 and $358,616 respectively. The six-week average price of a Saskatoon home took some modest gains and  increased by about fourteen hundred dollars from a week earlier to close the week at $338,833. That’s about where it stood a year earlier. The four-week median price slid lower by about $4000 and finished the week at $321,000 finding itself down ten thousand dollars from a year ago.


Three sellers managed to complete a sale at their asking price this week. The remaining 48 sales all went for less than the seller’s listed price and netted those buyers an average discount of $12,048.

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.


More weekly stats and numbers for those who love them.


Thank-you for reading TeamFisher’s Saskatoon Real Estate Week in Review.

I’m always happy to answer your Saskatoon real estate questions.  Please feel free to call or text me at 306-241-6676 or reach me by email at norm at teamfisher dot com.

Norm Fisher

Royal LePage Vidorra

Norm Fisher, Author of the TeamFisher Saskatoon Real Estate Blog

About Norm

As a collaborating partner on 'The Value-Driven Approach To Sell Real Estate' project, Norm shows Saskatoon homeowners how to find hidden, tax-free profits in their home sale.Less...

As a collaborating partner on 'The Value-Driven Approach To Sell Real Estate' project, Norm shows Saskatoon homeowners how to find hidden, tax-free profits in their home sale. Known locally as an impact leader he supports many organizations that serve our community’s most vulnerable people like the Saskatoon Interval House, the YWCA Crisis Shelter, the Lighthouse, the Friendship Inn and others. He has participated in several physically daunting charitable challenges and helped raise over one million dollars for women's shelters across Canada. Additionally, he’s a charter member of 100 Men Who Give a Damn in Saskatoon, a group of local philanthropists who are driven to bring positive change to those in need within our community. Fisher is a licensed real estate broker and owner of Royal LePage Vidorra, a boutique brokerage known for technology and innovation.

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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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