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Saskatoon real estate week in review for January 30 - February 5, 2021 (edition #726)


After four consecutive weeks of gains, unit sales slipped modestly. Saskatoon real estate agents reported 77 firm residential sales to the multiple listing service®. That’s down three sales from the previous week, but up annually by 16.


The number of Saskatoon homes listed for sale over the last week grew to 147, thanks in part to the 58 listings that came to the end of their term as January closed, many of which returned to the system as a new listing. This week’s new listing numbers are up 19 from the previous period, and higher annually by 27.


Of course, the month of January came to a close this week with a total of 278 Saskatoon homes trading through the MLS®. That amounts to an increase of 27 percent compared to January of 2020 when 219 homes sold.


Saskatoon residential MLS sales and and new listings for the week of January 30 - February 5, 2021



Once again, the database of active Saskatoon real estate listings failed to make gains. This week they actually slipped to 1029, down six from the previous week’s close.


According to my research, today we have just 441 single-family homes showing an active status on the MLS®. That’s 10 fewer than we had a week ago, and down 335 units, or 43 percent from this time last year. Condo inventory sits at 532 today, up by four from a week ago, and further up by 31 when compared to numbers recorded at the close of the same week last year.


Thirty-day sales saw another large spike as the last of the holiday week sales fell out of the equation. Over the past month, we’ve seen 315 sales. 


1029 active listings / 315 sales = 3.3 months of supply, down from 3.6 months at last week’s close.


That brings our supply of detached single-family homes to a new low of just 2.1 months. Condos showed some growing strength as 30-day sales grew to 86. That gives us a 6.1 month supply which is approaching a more balanced territory. Just last week this measure was greater than seven months.


Active Saskatoon real estate listing on the MLS at February 6, 2021



A bit more activity in the highest price ranges brought the weekly median sale price to its highest point this year, $325,000. The average sale price for the week edged up slightly to $342,873.


The six-week average price increased by three thousand dollars from last week to reach $346,670. That’s up annually by roughly twenty-two thousand dollars. 


The four-week median price grew by $2,750 from last week to reach $315,000. That’s lower than it was at this time last year by ten thousand dollars.


Average and median prices for Saskatoon homes sold January 30 - February 5, 2021



Overbid sales increased by one this week, to nine. Those sellers saw an average bonus of $3,661 which was well down from last week’s average of $8,975.


Buyers fared well and managed to negotiate an average discount of $9,067 on the 61 of 77 sales that did report a sale price below the listed price.


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 30 - February 5, 2021


More weekly stats and numbers for those who love them. 


Saskatoon real estate statistics for MLS home sales from January 30 - February 5, 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 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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