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Saskatoon real estate week in review for May 21-27, 2022 (edition #794)


After three weeks of growth culminating in a new annual peak, Saskatoon real estate sales fell lower to 109. That’s down from the previous week by 37 and lower annually by 28.


The new listing activity headed south for the second week in a row to 209, down from 218 last week, and lower on a year-over-year basis by 46.


Saskatoon real estate sales and new listings sold through the MLS from May 21-27, 2022



The number of Saskatoon homes showing an “active” status grew again for the seventh consecutive week, adding ten from last week’s close reaching 1149. That’s 411 fewer residential listings than could be found on the MLS® at the same time last year.


The number of single-family homes for sale grew for the third week in a row. At the close of the first week of May, the total inventory in this category was just 535. It has since risen to 625 for a weekly increase of 28, and an annual decline of 78.


Condo inventory remained steady on a weekly basis with 437 options, down 272 units from this time last year.


Once again, “months of inventory” grew in two of the three categories we track.


All residential - 1149 active listings / 534 sales = 2.2 month supply (up by 0.1 months from last week).


Single-family homes - 625 listings / 304 sales = 2.0 month supply up 0.1 months from last week).


Condos - 437 listings / 195 sales = 2.2 month supply. (down by 0.1 months from last week).


Active residential listings on the Saskatoon MLS on May 28, 2022



With 30 sales reporting at a price below the quarter-million-dollar mark and just a handful of deals at a price above $600K, the weekly median and average prices fell lower to $337,450 and $334,770 respectively. 


Still, the six-week average price managed a new peak for the year at $375,070. That’s higher than it was last week by about two thousand dollars and lower annually by just under five thousand dollars.


The four-week median price also edged up growing by $1250 from last week to hit $355,000. That’s lower than it was a year ago by close to 15K.


Average and median prices for Saskatoon homes sold through the MLS from May 21-27, 2022



The number of home sales that were reported to have sold for more than the asking price fell sharply from 48 last week to just 28 this period. On average, those sellers saw a hefty bonus of $17,675. Meanwhile, 70 of the week’s 109 sales reported a price that was, on average, $9,941 below the list price.


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  May 21-27, 2022


More weekly stats and numbers for those who love them. 


Saskatoon real estate statistics for homes sold through the MLS from  May 21-27, 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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