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Saskatoon real estate week in review for July 23-29, 2022 (edition #803)


After two weeks of declining sales, the Saskatoon real estate market saw a surge in activity that resulted in 119 firm home sales, up 17 from the previous week, and down from the same week last year by seven sales.


The number of new Saskatoon real estate listings added to the MLS® matched last week’s number at 200 units, which is higher annually by 31.


Saskatoon real estate sales and new listings sold through the MLS from July 23-29, 2022



The number of Saskatoon homes currently listed for sale on the multiple listing service® fell lower this week to 1281. That is lower than the close of the previous week by 15, for the largest single-week decline this year. We currently have 172 fewer listings than were available to buyers a year ago.


Today, there are 732 single-family homes showing an active status on the system. That’s just down by one from last week and lower annually by 40. Condo inventory continues to hit new lows with just 443 active listings, down 20 from a week ago, and lower on a year-over-year basis by 173.


The number of Saskatoon homes to have sold over the past 30-day, after falling lower for two weeks grew by five to 474.


Here’s what “months of inventory” look like today. 


All residential - 1281 active listings / 474 sales = 2.7 month supply (down 0.1 months from last week).


Single-family homes - 732 listings / 270 sales = 2.7 month supply (the same as last week).


Condos - 443 listings / 184 sales = 2.4 month supply. (down 0.2 months from last week). 


Active residential listings on the Saskatoon MLS on July 30, 2022



With just 15 sales reporting a sale price above the half-million dollar mark, the average sale price for the week slipped again, this week dropping by a thousand dollars to $352,388. The weekly median price, meanwhile, came back for the 25-week low it hit last period and grew more than 20K to $329,900.


The six-week median price declined again, now for the third week in a row. It settled at $368,891 to reach it’s lowest point since the final week of March. It remains up on an annual basis by six thousand dollars.

The four-week median price declined for the sixth consecutive week thanks to a growing number of condo sales. It’s at $335,000 today, which is lower than it was last week by roughly $3,000 and down annually by $5,000.


Average and median prices for Saskatoon homes sold through the MLS from July  July 23-29, 2022



The number of Saskatoon homes that were reported to have sold for more than the asking price slipped by one, in spite of the fact that sales were higher than the previous week by 17 percent. 22 Saskatoon home sellers closed on an offer that was $10,633 higher than their asking price, on average. Another 85 sales show a price below the list price with an average discount of $9,885.


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. A description of the geographic boundaries of areas 1 through 5 is here.


List price to sale price ratio of Saskatoon homes sold through the MLS from  July 23-29, 2022


More weekly stats and numbers for those who love them. 


Saskatoon real estate statistics for homes sold through the MLS from  July 23-29, 2022



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TeamFisher.com hosted over 520,000 user sessions last year and displayed more than 4.4 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 306-900-4161 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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