CONTACT

Saskatoon real estate week in review for November 28 - December 4, 2020 (edition #717)


Saskatoon real estate agents reported 84 firm residential transactions to the multiple listing service®, ten more than last week, and higher by 11 when compared against sales for the same week last year. This marks the 26th consecutive week in which sales either met or exceeded those from the same week last year. 


New listings took a jump this week as a number of listings that expired in the final days of November returned for another go at the market. Over the week, 102 Saskatoon homes were offered for sale. That’s up 19 from last week and lower by 11 annually.


Saskatoon residential MLS sales and and new listings for the week of November 28 - December 4 2020



The inventory of active MLS® listings took another big dip falling from 1170 at last week’s close to just 1103 today. That is now the lowest active listing count for any week since the first week of 2014 (last week we had fallen to the lowest point since the final week of 2014), so we are now nearing a seven-year low. I’m guessing that we’ll dip below 1000 before the year is out. That hasn’t happened since the first quarter of 2013.


Today, Saskatoon home buyers can find 542 single-family homes on the MLS®, down 50 from a week ago, and lower annually by 316. There are also 497 Saskatoon condos for sale, down 14 from last week, and dipping 19 annually.


Let’s have a quick look at how sales (demand) and listings (supply) are playing out.


As expected, 30-day sales continued on a downward trend. They fell to 346 at this week’s close. With active listings now at 1103, that gives us 3.2 months supply of inventory which is unchanged from last week.


Condo supply sits at 5.8 months, while the supply/demand balance for single-family homes is far tighter at just 2.3 months.


Active Saskatoon real estate listing on the MLS at December 4, 2020



With 13 sales recording a sale price above the half-million-dollar mark and a weaker performance below $200,000 both the weekly median price and the average price grew. Those measures reached $345,000 and $354,439 respectively.


The six-week average price continued to trail lower, now for the fifth consecutive week. It wrapped up this period at $334,794. That’s down just $400 from last week but lower on a year-over-year basis by $2,000. That’s the lowest level it has reached since mid-April.


The four-week median price closes the week at $327,000 for a near 17K increase from last week and up about five grand annually.


Average and median prices for Saskatoon homes sold November 24 - December 4, 2020



Four lucky sellers met a buyer willing to pay more than the asking price. Three of those four deals closed with a $100 overbid, while the fourth buyer dug deep and offered $11,100 more than the seller was asking. Buyers had their way in 68 of the week’s 84 trades to net an average discount of $12,150.



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 November 28 - December 4, 2020

More weekly stats and numbers for those who love them. 

Saskatoon real estate statistics for MLS home sales from November 28 - December 4, 2020



Follow me on Facebook and Instagram to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.


TeamFisher.com hosted over 345,000 user sessions in the past year and displayed more than 2.9 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


Comments:
No comments

Post Your Comment:

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.
 

Subscribe to our Blog

Posts By Date
The Saskatchewan REALTORS® Association (SRA) IDX Reciprocity listings are displayed in accordance with SRA's MLS® Data Access Agreement and are copyright of the Saskatchewan REALTORS® Association (SRA).
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.
Trademarks are owned and controlled by the Canadian Real Estate Association (CREA). Used under license.
MLS® System data of the Saskatchewan REALTORS® Association (SRA) displayed on this site is refreshed every 2 hours.
$(document).ready(function () { var allBoxes = $("#mrp-container10 div.weblet_web-syndication").children("div"); transitionBox(null, allBoxes.first()); }); function transitionBox(from, to) { function next() { var nextTo; if (to.is(":last-child")) { nextTo = to.closest("#mrp-container10 .weblet_web-syndication").children("div").first(); } else { nextTo = to.next(); } to.fadeIn(500, function () { setTimeout(function () { transitionBox(to, nextTo); }, 7000); }); } if (from) { from.fadeOut(500, next); } else { next(); } }