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Saskatoon real estate week in review for May 30 - June 5, 2020 (edition #691)

After showing strong growth for three consecutive weeks, Saskatoon real estate sales leveled off. Local agents reported 97 firm residential trades to the multiple listing service®, down just two from the previous week, and up by eight when compared to sales for the same week last year.


New listing activity continued to grow and that resulted in the highest volume listing week this year as agents added 209 Saskatoon homes to the MLS® system. That number is up 51 units on a weekly basis, and down by 31 annually.


Saskatoon residential MLS sales and and new listings for the week of May 30 - June 5 2020



Active MLS® listings slipped lower by five this week to settle at 1532, down from 1946 a year ago.


Today, Saskatoon home buyers can find 879 single-family homes for sale, down from 1155 a year ago. There are also 577 condominium units available, down from 718 at this time last year.


Active Saskatoon real estate listing on the MLS at June 52020



The split between middle to upper-end homes and entry-level properties remained pretty consistent compared to the previous week. The weekly median price grew by just three thousand dollars to $327,900 while the weekly average sale price of a Saskatoon home slipped considerably to $331,921 due to fewer deals above $500,000.


The six-week average price moved just a couple of hundred dollars lower to $348,677. It’s up about 15K from the close of the same week last year. The four-week median price fell for the second consecutive week to settle at $329,990. That’s down seven thousand dollars from the previous week, but higher than it was a year ago by a few hundred dollars.


Average and median prices for Saskatoon homes sold May 30 - June 5 2020



There was a little overbid activity with one seller seeing an offer for $4900 more than they’d asked, and two others picking up a $100 bonus. On the flip side of the negotiating table, 84 buyers managed to negotiate a discount averaging $12,648.


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.


Sale price to list price ratios for Saskatoon homes sold through the MLS the week of May 30 - June 5 2020


More weekly stats and numbers for those who love them. 


Saskatoon real estate statistics for MLS home sales from May 30 - June 5 2020


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TeamFisher.com hosted nearly a quarter of a million user sessions and displayed more than 1.2 million pages to our visitors in 2019. 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, Author of the TeamFisher Saskatoon Real Estate Blog

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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