CONTACT

Saskatoon real estate week in review for August 24-30, 2019 (edition #651)


Saskatoon homes continued to move at an impressive pace this past week as local agents reported 93 firm residential trades to the MLS system. That number is higher than the previous week by a dozen, and up on the same week last year by 20.


New listing activity slipped lower for the second week in a row. Saskatoon real estate agents brought 145 listings to the multiple listing service, down 13 from last week, and lower annually by five.




The total number of Saskatoon homes for sale on the MLS took a big dive as 91 listings expired at the end of August. This morning, there are 1867 active listings, down nearly 70 from last week’s close. At this time last year there were 1937 active listings.


Today, we have 1124 single-family homes for sale. That's up from 1077 a year ago. Condo inventory is now at 639, down from 673 a year ago.




A bit more activity at the upper end of the Saskatoon real estate market pushed the weekly median price and the weekly average higher to $315,000 and $315,857 respectively.


The six-week average price fell lower for the fifth consecutive week. It closed the week at $322,820 which is down about three thousand dollars from last week, and eight thousand below levels recorded last year.  After five weekly declines to the four-week median price, it grew by 12k to reach $310,000. That’s down five thousand dollars from the close of the same week last year.




Aside from a few new homes sales that reported an above list price sale, no overbidding activity occurred.  Meanwhile, 88 of 93 sales for the week came in below the asking price and netted an average discount of $11,976.


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.  Reach out by voice or text at 306-241-6676 or email me at norm at teamfisher.com


Norm Fisher

Royal LePage Vidorra


Comments:
No comments

Post Your Comment:

Norm Fisher, Author of the TeamFisher Saskatoon Real Estate Blog

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.
 

Note: We are in the process of bringing this blog home to the TeamFisher.com domain and we have a lot of stuff to move! Another 700 posts can be found at normfisher.com where they'll remain until we can get them moved here.

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®.
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.
Trademarks are owned and controlled by the Canadian Real Estate Association (CREA). Used under license.
MLS® System data of the Saskatoon Region Association of REALTORS® displayed on this site is refreshed every 2 hours.
Google Analytics Alternative