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Saskatoon real estate week in review for November 11-17, 2018 (edition #610)


It was another lacklustre week of sales for the Saskatoon real estate market. By the close of business Friday, just 38 residential sales had been reported to the MLS® system for the week, one fewer than the previous week, and 27 below the numbers that were recorded over the same week last year. This was the sixth consecutive week in which sales fell on an annual basis. As of today, MLS® sales for the city are down about 4.4 percent, year-to-date.


New listing numbers slipped lower by 15 when compared to the previous week, and roughly matched what we saw come on the market over the same period last year. This week’s final tally was 104 Saskatoon homes.


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The inventory of residential properties for sale on the multiple listing service® fell for the eighth week in a row to settle at 1732, which is down from a year earlier by 156 units. It looks like we will close the year with fewer active listings than we have had at the end of the last three years, but it’s still high, given the weakened demand that we’re seeing right now.


A closer look by major housing category shows buyers have 979 single-family homes to choose from. That’s down from 1071 a year ago. There are currently 643 Saskatoon condominiums for sale, 28 fewer than were available at this time last year.


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Price trends get tricky to follow when weekly sales start to drop between 50 units. It’s typical to see larger than normal swings from one week to the next. That certainly happened this week.


More than 25 percent of this week’s sales recorded a sale price above $450,000 and that pushed the average price for the week significantly higher to $360,828. A mix of sales that leaned towards the upper end ushered the weekly median sale price higher to $359,000. Meanwhile, the six week average price jumped seven thousand dollars above last week’s number to close at $335,048. That’s about where it was a year ago. The four-week median price spiked higher by more than sixteen thousand dollars and reached $332,500 to beat last year’s number by seventy five hundred dollars.


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One fortunate seller got a nice holiday bonus as the sale on their home closed at nearly $16,000 more than they had asked when they put up the sign. On the flip side of the negotiating table, 33 buyers wrapped up a deal that provided them with an average discount of $15,462.


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.


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More weekly stats and numbers for those who love them.


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


I’m always happy to answer your Saskatoon real estate questions.  Please feel free to call or text me at 306-241-6676 or reach me by email at norm at teamfisher dot com.


Norm Fisher

Royal LePage Vidorra


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 TeamFisher.com domain and we have a lot of stuff to move! Another 1400 posts can be found at normfisher.com 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.
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