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Saskatoon real estate week in review for May 15-21, 2021 (edition #741)


The Saskatoon real estate market continued to generate solid sales numbers this week. Local REALTORS® reported 132 homes sold, down just one from last week, and up by 41 sales when compared to numbers recorded over the same week last year.


New listings were also strong with 247 properties hitting the MLS® system. That’s down for the second week in a row, this time falling by 19, but still way up from last year when just 167 Saskatoon homes were offered for sale.

 

Saskatoon home sales and new listings added to the MLS system the week of May 15-21,2021



For the 13th consecutive week, active listing inventory numbers grew, this week reaching 1521. 


That’s up by 32 from last week, and just one listing short of levels reached by the close of the same week last year. Next week we will see inventory that is higher annually for the first time since March of 2016.


Today, Saskatoon home buyers can find 703 single-family homes showing an active status on the MLS® system. That’s higher than last week by six and lower annually by 174.  We also have 709 active condo listings, up by 15 from last week’s close, and higher than it was at this time last year by 150 units.


The number of homes to sell over the past 30 days slipped from 588 last week to 573 this week.


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


All residential - 1521 active listings / 573 sales = 2.7 month supply. (Up by 0.2 months from last week, and still very much a seller’s market).


Single-family homes - 703 listings / 393 sales = 1.8 month supply (Up by 0.1 months from last week. Extreme seller’s market conditions).


Condos - 709 listings / 145 sales = 4.9 month supply. (Up 0.3 months from last week and now the 16th consecutive week in which condos are in a balanced market).


Active real estate listings on the multiple listing service as of May 22, 2021



The weekly median price fell lower for the second week in a row, this time to $350,750. The weekly average sale price fell even more to $365,372.


The four-week median sale price slipped for the second week in a row and settled at $360,000. That’s lower than last week by a bit more than nine thousand dollars, but up 22K annually. The six-week average price came off of the peak it hit last week and slipped about two thousand dollars to settle at $379,090 which is higher than it was at this time last year by more than forty-two thousand dollars.


Average and median home prices of Saskatoon homes sold through the MLS system from May 15-21, 2021



The number of homes to sell for more than the asking price remained steady at 28. Those homes sold, on average for $11,011 more than the listed price. Another 93 sales reported a price that was below the seller’s asking price by an average of $11,453.


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 for Saskatoon homes sold through the MLS system from May 15-21, 2021


More weekly stats and numbers for those who love them. 


Saskatoon real estate statistics for homes sold through the MLS from May 15-21, 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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