CONTACT

Saskatoon real estate week in review for December 4-10, 2021 (edition #770)


This week, the Saskatoon real estate market saw a small upward sales bump as local REALTORS® reported 75 firm trades to the MLS®, up by four from last week for an annual increase of 12.


Meanwhile, the new listing activity slowed as it likely will each week for the balance of the year. Saskatoon real estate agents added 90 residential properties to the multiple listing service® database. That’s 28 fewer listings than hit the system the previous week, and down 30 when compared to activity over the same week last year.


Saskatoon real estate sales and new listings sold through the MLS from December 4-10, 2021



The number of Saskatoon homes available to be bought through the MLS® slid to 972 this week, down from 995 last period and lower annually by 150 units.


Among the 972 listings, local buyers can find 442 detached houses, down 18 weekly, and lower on a year-over-year basis by 92. Condo inventory is at 461 today, lower by seven from last week and down annually by 63.


As another week of seasonally soft sales fell into the mix, 30-day sales took a significant tumble and fell to just 369 from 402 last week. With a slide to both active listings and sales, the supply/demand dynamic changed very little. Here’s what “months of inventory” look like today.


All residential - 972 active listings / 369 sales = 2.6 month supply (up 0.1 months from last week)


Single-family homes - 442 listings / 253 sales = 1.7 month supply (the same as last week and at low for the year).


Condos - 461 listings / 96 sales = a 4.8 month supply. (up 0.3 from last week).


Active residential listings on the Saskatoon MLS on December 4-10, 2021



Once again, much of the week’s activity occurred at price points below the average causing the weekly median price and the weekly average to fall lower to $347,500 and $370,919 respectively.


The six-week average price, meanwhile, climbed to a new high for 2021. It finished the week up just a couple of hundred dollars for the period, reaching $381,330 to claim an annual gain of 47K. The four-week median slipped about $1200 from last week to settle at $360,000 for a year-over-year increase of roughly ten percent.

 

Average and median prices for Saskatoon homes sold through the MLS from December 4-10, 2021



The number of Saskatoon home sellers who sold for more than their asking price grew from eight to ten while the average overbid slid lower to $8,100. That’s about 35 percent lower than it was last week. On the other side of the negotiating table, 57 deals closed below the list price with an average discount of $10,352.


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.


List price to sale price ratio of Saskatoon homes sold through the MLS from December 4-10, 2021

More weekly stats and numbers for those who love them

Saskatoon real estate statistics for homes sold through the MLS from December 4-10, 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 450,000 user sessions in the past year and displayed more than four 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 306-900-4161 or email me at norm at teamfisher.com


Norm Fisher

Royal LePage Vidorra


Comments:
No comments

Post Your Comment:

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 750 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 750 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.
 

Subscribe to our Blog

Posts By Date
The Saskatchewan REALTORS® Association (SRA) IDX Reciprocity listings are displayed in accordance with SRA's MLS® Data Access Agreement and are copyright of the Saskatchewan REALTORS® Association (SRA).
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 Saskatchewan REALTORS® Association (SRA) displayed on this site is refreshed every 2 hours.
$(document).ready(function () { var allBoxes = $("#mrp-container10 div.weblet_web-syndication").children("div"); transitionBox(null, allBoxes.first()); }); function transitionBox(from, to) { function next() { var nextTo; if (to.is(":last-child")) { nextTo = to.closest("#mrp-container10 .weblet_web-syndication").children("div").first(); } else { nextTo = to.next(); } to.fadeIn(500, function () { setTimeout(function () { transitionBox(to, nextTo); }, 7000); }); } if (from) { from.fadeOut(500, next); } else { next(); } }