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Saskatoon real estate week in review for December 26 - January 1, 2021 (edition #721)


Happy New Year!


On behalf of all of us at TeamFisher, I hope that 2021 brings with it all that you’re hoping for. 


It’s my pleasure to bring you the final week in review for 2020. Thanks so much for reading.


Saskatoon real estate sales reached their lowest point since the opening weeks of 2020. Local agents reported just 34 firm sales, down from 53 last week and falling short of sales recorded during the same week last year when 43 Saskatoon homes traded hands. This was the first week in 30 in which sales failed to meet or exceed those recorded during the same period last year.


Meanwhile, 34 Saskatoon home sellers decided to get the jump on the competition and listed their properties for sale. That’s lower than last week by five, and down from the same week last year by 28.


Saskatoon residential MLS sales and and new listings for the week of December 26 - January 1 2020



The inventory of active MLS® listings took its biggest slide this year as 138 listings came to the end of their term without a sale to leave us with just 910 active Saskatoon real estate listings in the residential category. That number is down 126 units from the previous week’s close, and lower than 2019’s closing number by 309 properties. That is the smallest number of active listings for any week since December of 2013.


Today, the multiple listing service® is showing just 400 single-family homes as active, a drop of 71 from last week, and down from 706 at this time last year. Condo options are a bit better at 454, down from 503 last week, and roughly even with levels recorded a year ago.


Thirty days sales took a serious slide to just 248 units. With 910 Saskatoon homes for sale, our “months of inventory” measure saw another improvement, at least as far as buyers are concerned. That number grew from 3.4 months last week, to 3.7 months as this period wrapped up.



Active Saskatoon real estate listing on the MLS at January 2, 2021



The weekly median price of a Saskatoon home grew this week to reach $317,500. The average selling price also saw some gains as it hit $340,044, thanks to a single sale that cracked the million-dollar mark.


The six-week average price took some gains to close the week at $340,367. That’s up a little more than three thousand dollars from last week, and higher than it was at this time last year by six thousand dollars.


The four-week median price moved in the opposite direction slipping four thousand dollars from last week to $329,000. That’s down $900 from the same week last year.


Average and median prices for Saskatoon homes sold December 26 - January 1, 2021



This week saw four sellers report a sale above their asking price. Three of the four overbids reached the five-figure range. Across the four deals, the average overbid was $7,625. Meanwhile, 30 of 34 sales went below the asking price netting those buyers an average discount of $13,887.


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.


Sale price to list price ratios for Saskatoon homes sold through the MLS the week of December 26 - January 1, 2021



More weekly stats and numbers for those who love them. 


Saskatoon real estate statistics for MLS home sales from December 26, 2020 - January 1, 2021




Follow me on Facebook and Instagram to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.


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 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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