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Saskatoon real estate week in review for July 3-9, 2021 (edition #748)


Local home sales slipped lower for the second week in a row. Saskatoon real estate agents reported 112 firm residential sales to the MLS® this week, down 14 from last week, and lower than the numbers recorded over the same period last year when 119 homes traded hands.


Meanwhile, the new listing activity climbed, taking a big jump from 152 last week to 233 listings this period. That’s higher annually by 38. New listing numbers have been fairly erratic over the past few weeks with these wild swings from one week to the next.


Saskatoon real estate sales and new listing via the MLS from July 3-9, 2021



The number of Saskatoon homes listed for sale on the multiple listing service® grew by 27 units this week to reach 1482 which is lower than it was at the close of the same week last year by 63.


Today, there are 618 condominiums showing an active status on the system, down one from last week, and up 30 annually. There are also 759 single-family homes for sale for a weekly increase of 23 and an annual decline of 95.


Thirty-day sales fell lower for the third week in a row, this week slipping by 24 units to 561.


Here’s what “months of inventory ” look like across the broader market, and by category.


All residential - 1482 active listings / 561 sales = 2.6 month supply (up by 0.1 from last week and still very much a seller’s market)


Single-family homes - 759 listings / 342 sales = 2.2 month supply (up by 0.2 months last week. Seller’s market conditions).


Condos - 618 listings / 182 sales = 3.4 month supply. (same as last week and further into seller’s market territory that we have seen in years).


Active Saskatoon real estate listings on the MLS at July 10, 2021



A massive showing of entry-level buyers brought the median price for the week sharply lower to $341,405. In spite of a couple of sales above the $1 million mark, the weekly average price also took a dive to $355,739.


Looking a bit longer-term, the six-week average took a trim and fell about $900 to $365,823 while maintaining a year-over-year increase of roughly 22K. Meanwhile, the four-week median, which has largely been in a free-fall for the past eight weeks, fell again to settle at $337,000. That’s lower than last week by eleven thousand dollars, and higher annually by just two thousand dollars.


Average and median prices of homes sold through the MLS from July 3-9, 2021



For the second week in a row, the number of homes to receive an overbid sale price climbed slightly. This week, 19 lucky sellers closed a deal for more than their asking price by an average of $10,717. On the other side of the negotiating table, 87 buyers made off with a discount that averaged $9,641.


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.


List price to sale price ratio of Saskatoon homes sold through the MLS from July 3-9, 2021


More weekly stats and numbers for those who love them. 


Saskatoon real estate statistics for MLS home sales from July 3-9, 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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