Saskatoon real estate week in review for June 1-7, 2019 (edition #639)

Saskatoon real estate sales cooled considerably compared to last week as the number of residential trades fell to 89, down from 114. That was, however, enough to maintain what is now a nine week trend of annual sales increases. During the same period last year local agents reported 77 Saskatoon homes sold to the MLS system®.

New listings spiked to their highest level for any week this year as 240 property owners looking to take advantage of the strongest spring market in years listed their homes. That number is up from 188 last week, and higher than it was during the same period last year by 31 homes. It appears to be the highest number of Saskatoon homes listed during any single week since mid-May of 2017.

Saskatoon MLS residential sales and listings numbers for the week of June 1, 2019

The disparity between sales and listings drove the total number of active listings available to buyers through the multiple listing service® to its highest level this year. This morning there are 1946 residential properties in various categories available on the system, up 67 from last week’s close, but down just 53 from levels recorded last year at this time.

The number of single-family homes for sale fell lower annually from 1155 to 1100. Condo inventory also softened on a year-over year basis. Buyers have 718 to choose from today, down 130 from a year earlier.

Active Saskatoon MLS real estate listings on June 7, 2019

An increasing number of entry level buyers showed up this week and lower end sales pushed the median sale price for the week lower to $321,000. Meanwhile, two sales that topped the $800,000 mark, and one that exceeded $900K caused the weekly average to grow to $334,825.

The six-week average price fell lower by about $2500 to $333,379 which is down about three grand from the same week last year. The four-week median price fell by seven hundred dollars from last week to settle at $329,250 to close up annually by just over nine grand.

Saskatoon MLS home prices for the week of June 1, 2019

There was little enthusiasm for overbidding this week. Just one seller got more than their asking price as the buyer of their home paid an $1100 bonus to beat another buyer to a deal. On the other hand, 82 buyers left the negotiating table having ground their seller for a discount that averaged $12,013.

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 to list price ratios of Saskatoon homes sold through the MLS the week of June 1, 2019

More weekly stats and numbers for those who love them.

Saskatoon real estate statistics for homes sold through the MLS the week of June 1, 2019

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

I’m always happy to answer your Saskatoon real estate questions. All of my contact info is here. Please feel free to call or email.

Norm Fisher

Royal LePage Vidorra

No comments

Post Your Comment:

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.

Note: We are in the process of bringing this blog home to the domain and we have a lot of stuff to move! Another 1400 posts can be found at where they'll remain until we can get them moved here.

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®.
The above information is from sources deemed reliable but should not be relied upon without independent verification. The information presented here is for general interest only, no guarantees apply.
Trademarks are owned and controlled by the Canadian Real Estate Association (CREA). Used under license.
MLS® System data of the Saskatoon Region Association of REALTORS® displayed on this site is refreshed every 2 hours.
Google Analytics Alternative