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Saskatoon real estate week in review for November 18-24, 2018 (edition #611)


For the past six weeks, Saskatoon real estate sales numbers have failed to meet those recorded during the same period the year before. Finally, that trend broke this week as local agents brought 66 firm residential sales to the multiple listing service® for a weekly gain of 28 sales, enough to match numbers from the same week last year.


New listing numbers also moved sharply higher coming in at 145. That’s up from last week by 41, and exceeds activity for the same period last year by 29 Saskatoon homes.


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The number of Saskatoon homes offered for sale on the MLS® grew slightly this week to 1742, up ten from last week’s close, but down by 114 listings on an annual basis. A closer look at the major housing types shows that buyers have 980 single-family homes to choose from, down 80 from this time a year ago. Condominium inventory is at 650 today. That’s 28 fewer than could be found on the system at this time in 2017.


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Upper end activity remained strong but it couldn’t match the previous week’s steam, even with a sale above a million dollars in the mix, something that has happened far less frequently this year than it has in recent years. There have been only five Saskatoon home sales that topped the million dollar mark so far this year. In 2017 there were 14. This week, the average price of a Saskatoon home fell lower to $331,226 and the weekly median price slipped to $319,500. Meanwhile, the six-week average price of a Saskatoon home inched lower to $333,421. That’s down from a year earlier by less than three thousand dollars. The four-week medin price slipped $2500 from the week before to settle at $330,000 which is exactly where it stood a year ago.


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For the second consecutive week we have a lucky seller reporting a sale at more than the asking price, this time by just a thousand dollars. Buyers did manage to grind a discount on 59 of this week’s 66 sales. Those discounts averaged $14,859.


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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