CONTACT

Saskatoon real estate week in review for March 27 - April 2, 2021 (edition #734)


The second week of spring brought a steady stream of Saskatoon home sales and new listings.


Local real estate agents reported 133 homes sold to the multiple listing service® for a weekly drop of just one unit, and up from 63 for the same week last year. That’s the third week in a row in which sales more than doubled on an annual basis.


New listing numbers grew by two from last week to reach 214. That too is more than double what we saw enter the market over the same period last year when COVID concerns limited new listing activity to just 103 Saskatoon homes.


Saskatoon real estate sales and listing stats for the week of March 27 - April 2, 2021



After showing strong growth for four consecutive weeks, the total number of homes for sale on the local MLS® system stalled. We closed the week with 1260 active listings, up just seven from last week’s close, and down annually by just 145 units. That is the smallest year-over-year decline since last spring.


Today’s totals include 628 condos, down seven from a week earlier, but up 123 from this time last year. We also have 561 single-family homes, which is higher than last week’s close by 16, and lower annually by 261.


30-day sales grew again increasing from 529 last week to 540 this week.


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


All residential - 1260 active listings / 540 sales = 2.3 month supply. (Lower than last week by 0.1 months. Seller’s market conditions).


Single-family homes - 561 listings / 361 sales = 1.6 month supply (Up 0.1  months from last week. Extreme seller’s market conditions).


Condos - 628 listings / 149 sales = 4.2 month supply. (Down from 4.5 months last week and “balanced” now for the ninth week in a row).


Active Saskatoon real estate listing on the MLS at April 3, 2021



Brisk sales activity for homes priced below $250,000 brought the weekly median price sharply lower to $345,000 while fewer luxury market homes also softened the weekly average price to $350,650.


The six-week average price came off of its annual peak as it dropped just over $1000 to $364,524. That’s roughly fourteen thousand dollars higher than it was at the close of the same week last year.


The four-week median price softened for the third week in a row to settle at $354,700. That’s lower than it was last week by two thousand dollars, but up annually by 22K.


Average and median prices for Saskatoon homes sold March 27 - April 3, 2021



Overbid sales hit their highest level for the year with 25 homes selling for more than the seller’s asking price. The average overbid was $6,840. Meanwhile, 89 of this week’s sales reported a price that was below the seller’s list price by an average of $10,028.


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 for $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.


Sale price to list price ratios for Saskatoon homes sold through the MLS the week of March 27 - April 2, 2021


More weekly stats and numbers for those who love them. 


Saskatoon real estate statistics for MLS home sales from March 27 - April 2, 2021



Follow me on Facebook and Instagram to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.


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



Comments:
No comments

Post Your Comment:

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.
 

Subscribe to our Blog

Posts By Date
The Saskatchewan REALTORS® Association (SRA) IDX Reciprocity listings are displayed in accordance with SRA's MLS® Data Access Agreement and are copyright of the Saskatchewan REALTORS® Association (SRA).
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 Saskatchewan REALTORS® Association (SRA) displayed on this site is refreshed every 2 hours.
Google Analytics Alternative