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Saskatoon real estate week in review for August 3-9, 2019 (edition #648)


Local home sales softened a bit this week as Saskatoon real estate agents reported 71 firm residential trades to the multiple listing service®. That amounts to a weekly decline of 16 units, but a year-over-year increase of six.


A total of 165 Saskatoon homes hit the MLS® this week, down three from the previous week, but significantly higher when compared against the same period last year when just 137 listings entered the system.


Saskatoon residential MLS sales and and new listings for the week of August 3-9, 2019



MLS inventory crept higher, which is not unexpected during the opening week of a new month when activity is often bolstered by the previous month’s expired listings coming back to the system. 


The week closed with a total of 1900 Saskatoon homes showing an active status on the MLS®, up 23 from a week ago, and down 122 listings compared to levels recorded at the close of the same week last year.


Condo inventory is at 672 today, up 13 from last week, and down from 774 a year ago. Today, there are 1115 single-family homes offered for sale on the system. That’s five more than last week, and three fewer than a year earlier.


Active Saskatoon real estate listing on the MLS at August 10, 2019



Strong market activity for homes in the $300,000 - $400,000 range helped lift the weekly median sale price of a Saskatoon home off of its annual low to reach $310,000. Meanwhile, nearly ten percent of the week’s sales reported a price exceeding $500,000 which gave a hefty boost to the average sale price for the week which grew about $26K t0 $329,276.


The six-week average price fell close to six thousand dollars from last week to settle at $331,012. This measure is lower than it was at this time last year by roughly six thousand dollars. The four-week median price edged lower for the third consecutive week. It slipped just a thousand dollars from last week to $314,000 finishing the week down annually by $11,000.


Average and median prices for Saskatoon homes sold August 3-9, 2019



Two buyers offered more than list price to beat out others who were looking to buy the same home. One of those trades paid a $5100 bonus to the seller, the other a more modest $1100. On the other hand, 64 of the week’s 71 sales closed below the listed price generating an average discount of $12,528.


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.


Sale price to list price ratios for Saskatoon homes sold through the MLS the week of August 3-9, 2019



More weekly stats and numbers for those who love them. 


Saskatoon real estate statistics for MLS home sales from August 3-9, 2019



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


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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.
 

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