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Saskatoon real estate week in review for February 6-12, 2021 (edition #727)


Following a modest dip in sales last week, home sales activity ramped up again. Saskatoon real estate agents reported 94 firm sales to the multiple listing service® to reach a new weekly high for 2021. This week’s numbers are up 17 units from last week and exceed sales for the same week last year by 41.


New listings also came on strong climbing from 147 last week to 166 for the current period and recorded an annual increase of 41. 


Saskatoon real estate sales and listing stats for the week of February 6-12, 2020



The inventory of active MLS® listings inched up to 1053, higher by just two dozen units from the close of the previous week, and down from 1382 a year ago.


Today’s numbers include 443 single-family detached homes, up by two from last week, and down from 805 a year ago. Condo inventory sits at 545, up 14 from last week, and further up by 42 when compared to units available at this time last year.


That said, 30-day sales took another big leap climbing from 315 last week to 347 for the current period.


Let’s have a look at “months of inventory.”


All residential - 1053 listings / 347 sales = 3 month supply, down from 3.3 last week. (Seller’s market conditions)


Single-family - 443 listings / 228 sales = 1.94 month supply (Extreme seller’s market conditions)


Condos - 545 listings / 96 sales = 5.7 month supply. (Balanced for the second week in a row)


Active Saskatoon real estate listing on the MLS at February 13, 2021



After reaching an annual high last week, the weekly median sale price moved up again, this time to $333,950. The weekly average price also edged higher, gaining just a few thousand dollars to hit $346,368.


The six-week average grew by less than a thousand dollars to reach $347,109. That’s 23K ahead of where it was a year ago. The four-week median price fell lower to $320,000 for a weekly decline of $5,000 and an annual drop approaching thirteen thousand dollars.


Average and median prices for Saskatoon homes sold February 6-12, 2021



The number of overbid sales grew to 11 this week. Those deals closed at, on average, $4,973 above the list price. Meanwhile, 73 of this week’s 94 sales reported a sale price that was below the seller’s asking price by an average of $11,563.


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 6-12, 2021


More weekly stats and numbers for those who love them. 


Saskatoon real estate statistics for MLS home sales from February 6-12, 2021


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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 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.
 

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