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Saskatoon real estate week in review for July 13-19, 2019 (edition #645)


It was a strong sales week for Saskatoon homes. Local REALTORS® reported 93 firm residential trades to the multiple listing service®, up 24 units compared to last week, and three sales more than were recorded over the same period last year.


New listing activity fell modestly lower to 168 units for a weekly decline of four and an annual drop of eight.


Saskatoon residential MLS sales and and new listings for the week of June 15-21, 2019



Listing inventory slipped lower after taking a small increase last week. This morning, there were 1949 Saskatoon homes showing an active status on the multiple listing service, down just 11 from last week’s close, and lower on an annual basis by 103 properties. In the mix were 1146 single-family homes, a number that is above levels recorded a year ago by 22,  and 698 condos, down from 821 at the close of the same week last year.


Active Saskatoon real estate listing on the MLS at July 21, 2019



For the second week in a row, activity at the lower end of the Saskatoon real estate market was relatively soft while sales above the quarter-million-dollar mark were solid. This pushed the weekly median price up by nearly 25K to $338,500. At the same time, the weekly average sale price was sharply lower for the week as it fell 22K to $330,115 thanks to the fact that nobody bought a million dollar plus home. That happened twice the previous week.


Looking at Saskatoon home prices over a slightly longer term, the six-week average price closed the week at $338,552. That’s a loss of about a thousand dollars from last week but it’s up roughly five grand from a year ago. The four-week median price spiked higher by more than 14K for the week. It reached $338,500 for an annual increase of $6,650.


Average and median prices for Saskatoon homes sold July 13-19, 2019



Three Saskatoon home buyers closed a deal with an above list price offer. The average overbid was $5,736. Meanwhile, 86 of the week’s 96 sales closed below the asking price and generated an average discount of $11,368.


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.


Sale price to list price ratios for Saskatoon homes sold through the MLS the week of July 13-19, 2019


More weekly stats and numbers for those who love them. 


Saskatoon real estate statistics for MLS home sales from July 13-19, 2019


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


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, 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.
 

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