CONTACT

Saskatoon real estate week in review for February 15-21, 2020 (edition #676)


Saskatoon real estate agents reported 59 firm residential sales to the multiple listing service® over the past week, up by six from the previous week and matching numbers recorded over the same period last year.


While sales remained stable, new listings numbers plummeted. Just 73 Saskatoon homes were offered for sale. That’s down from 125 last week and falls short of listings for the same period last year by 32 properties.


Saskatoon residential MLS sales and and new listings for the week of February 15-21, 2020



The inventory of active MLS® listings in the residential category declined this week, due to soft new listing activity. As of this morning, buyers have just 1367 Saskatoon homes to choose from, down 15 from last week’s close, and 49 shy of what was available a year ago. 


The active listing numbers include 792 single-family detached homes, up from 770 a year ago, and 501 condominiums. That's 66 fewer condos than were available a year ago today.


Active Saskatoon real estate listing on the MLS at February 22, 2020



With just three sales that topped the five hundred thousand dollar mark, strong activity at the low end of the price spectrum, and two sales (mobile homes with no land title) that barely amounted to 50K between them, both the weekly median sale price and the weekly average sale price of a Saskatoon home fell lower. Those measures came in at $300,000 and $314,449 respectively.


The four-week median price also slipped as it fell to $320,375 for a weekly decline of about 12K. It remained higher on an annual basis by a little more than $10,000. The six-week average price rose about three thousand dollars from the previous week and after maintaining year-over-year gains for six consecutive weeks, it fell below levels recorded at the close of the same week last year by three thousand bucks.


Average and median prices for Saskatoon homes sold February 15-21, 2020



Not a single seller landed a buyer willing to pay more than the asking price this week. Meanwhile, 54 of the week’s 59 firm deals were reported to have sold at a price below the list price, netting those buyers an average discount of $12,565.


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 February 15-21, 2020



More weekly stats and numbers for those who love them. 


Saskatoon real estate statistics for MLS home sales from February 15-21, 2020


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


TeamFisher.com hosted nearly a quarter of a million user sessions and displayed more than 1.2 million pages to our visitors in 2019. 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


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.
 

Posts By Date
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