Saskatoon real estate week in review for January 25-31, 2020 (edition #673)

Saskatoon real estate week in review for January 25-31, 2020 (edition #673)

Saskatoon real estate sales activity showed some signs of life this week as the number of homes that traded hands grew to 61, up from 52 last week. That’s 14 more homes than sold over the same week last year.

New listing activity remained steady as 115 Saskatoon homes were offered for sale on the multiple listing service®. That’s precisely the same number of new listings as the previous week and more than there were for the same period last year by seven.

Saskatoon residential MLS sales and and new listings for the week of January 25-31 2020

The total number of active MLS® listings in the residential category fell this week as a handful of listings came to the end of their term when the calendar turned. Today, there are 1326 active residential listings in Saskatoon, down from 1351 a week ago, and down a little further from the 1391 listings available at the close of the same week last year.

Condo inventory is showing the majority of the declines as they fall to 493, down from 546 a year ago. There are currently 763 single-family homes for sale in the city, down just four from the close of the same week last year.

Active Saskatoon real estate listing on the MLS at January 31 2020

A return of entry-level buyers brought the weekly median sale price and the weekly average lower to $325,000 and $327,443 respectively.

Meanwhile, the six-week average price and the four-week median price moved in different directions. The six-week average fell about four thousand dollars for the week to settle at $329,863, which was enough to record an annual increase approaching 13K. The four-week median price rose by about four thousand dollars on the week to take a year-over-year increase of six thousand dollars.

Average and median prices for Saskatoon homes sold January 25-31 2020

This week, we saw two sales close above asking price. Those sellers each found a buyer willing to pay them $5,100 more than they had been asking for their home. Still, 52 of 61 sales went for less than the asking price netting those buyers an average discount of $14,311.

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 January 25-31 2020

More weekly stats and numbers for those who love them. 

Saskatoon real estate sales and listing stats for the week of January 25-31 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. 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.

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Norm Fisher

Royal LePage Vidorra


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