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Saskatoon real estate week in review for August 31 - September 6, 2019 (edition #652)


The Saskatoon real estate market cooled this week as we moved closer to fall. Local agents reported 65 firm residential trades to the multiple listing service®, down from 93 the previous week, but up compared to the same week last year when just 51 Saskatoon homes were sold.


New listing numbers spiked higher as many of the previous month’s expired listings came back to the MLS® for another go before winter brings a chill to the market. A total of 192 residential listings hit the market, the highest number for any week since mid-June. That’s higher than the previous week by 41 homes, and ahead of the same week last year by 44.


Saskatoon residential MLS sales and and new listings for the week of August 31 - September 6, 2019



MLS® inventory increased, as it often does during the opening week of the month when last month’s expired listings are re-processed. As of this morning, there are 1898 active residential listings available in the city, up 29 from last week's close, but down from the close of the same week last year by 68.


As of this morning, there are 1156 single-family homes for sale in Saskatoon, up 32 from a week ago. At this time last year, there were just 1089 detached homes available through the MLS®. Meanwhile, condo inventory is at 643, up just four from last week and down annually by 112 units.


Active Saskatoon real estate listing on the MLS at September 6, 2019



Entry-level buying activity was brisk enough to keep the median sale price for the week well below the average. The median sale price of a Saskatoon home came in at $315,000 to match last week’s numbers, while the average sale price moved higher to $348,105.


The six-week average price inched up just a few dollars from last week to hit $322,900 which is down about 5K from a year ago. The four-week median price grew by five thousand dollars from the week before to close the week up by six hundred dollars, year-over-year.


Average and median prices for Saskatoon homes sold August 31 - September 6, 2019



One lucky seller saw an above list price offer and closed their deal for $10,100 more than the asking price. Aside from a handful of new home sales, 58 of the week’s 65 sales reported a price below the list price by an average of $12,610.


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 31 - September 6 2019



More weekly stats and numbers for those who love them. 


Saskatoon real estate statistics for MLS home sales from August 31 - September 6, 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.
 

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.
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