Saskatoon real estate week in review for July 1-7, 2018

The Saskatoon real estate market experienced a small downturn in sales on a weekly basis, even while sales numbers grew compared to the same week last year. Local agents reported 81 firm residential sales to the Saskatoon MLS®, down five from the previous week, but up by 11 from the same period of 2017.

The number of new listings added to the multiple listing service® was lower for the week, and year-over-year. By the close of the week, agents had brought an additional 173 Saskatoon homes to the MLS, down just three from last week, but well below the 200 that came on a year earlier.


The inventory of active MLS® listings fell lower as over 100 active listings met the end of their term without a sale when June came to a close. As of this morning, there were 2056 residential properties for sale on the MLS®, down from 2131 last week, and lower than it was at this time last year by 113 Saskatoon homes. Condo inventory bucked the trend as the selection grew to 816, up from 800 a year earlier. Single-family homes for sale slipped to 1116  from 1212 at the close of the same week last year.


The median sale price for the week saw modest gains from last week and reached $317,500 while the weekly average grew nearly 15K and reached $340,416. Still, a strong average this week was not enough to keep the six-week average price of a Saskatoon home from slipping to a new annual low. It slid lower by about 13K from last week to close down nearly thirty thousand dollars from levels seen at this time last year. The four-week median price also fell lower losing 5K from last week, for a more modest annual decline of nine thousand dollars.


Sellers looking to create a bidding war that might drive their contract price higher than their list were left wanting. On the other hand, 73 buyers took their seller’s price lower with an average discount of $11,210.

Here is a breakdown of what the sales to listing price ratio looked like on this week’s sales. Please note that those sales that do show a sale price that is greater than the list price are all new properties that spent some period of time on the market, and most likely included additional improvements that were not reflected in the original list 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.


More weekly stats and numbers for those who love them.


Thank-you for reading TeamFisher’s Saskatoon Real Estate Week in Review.

I’m always happy to answer your Saskatoon real estate questions.  Please feel free to call or text me at 306-241-6676 or reach me by email at norm at teamfisher dot com.

Norm Fisher

Royal LePage Vidorra

Norm Fisher, Author of the TeamFisher Saskatoon Real Estate Blog

About Norm

As a collaborating partner on 'The Value-Driven Approach To Sell Real Estate' project, Norm shows Saskatoon homeowners how to find hidden, tax-free profits in their home sale.Less...

As a collaborating partner on 'The Value-Driven Approach To Sell Real Estate' project, Norm shows Saskatoon homeowners how to find hidden, tax-free profits in their home sale. Known locally as an impact leader he supports many organizations that serve our community’s most vulnerable people like the Saskatoon Interval House, the YWCA Crisis Shelter, the Lighthouse, the Friendship Inn and others. He has participated in several physically daunting charitable challenges and helped raise over one million dollars for women's shelters across Canada. Additionally, he’s a charter member of 100 Men Who Give a Damn in Saskatoon, a group of local philanthropists who are driven to bring positive change to those in need within our community. Fisher is a licensed real estate broker and owner of Royal LePage Vidorra, a boutique brokerage known for technology and innovation.

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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®.
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