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Saskatoon real estate week in review for November 30 - December 6, 2019 (edition #665)


The Saskatoon real estate market continued to move at a strong clip for the first week of December. Local agents reported 73 firm residential sales to the multiple listing service®, up by 14 compared to the previous week and topping sales for the same period last year by 24 units.


New listing activity reached its low point for the year last week at 73. This week, many listings that expired at the close of November came back to the market from another go. New listing numbers came in at 113, roughly the same number as we saw during the same week last year.


Saskatoon residential MLS sales and and new listings for the week of November 30 - December 6, 2019



MLS® inventory in the residential category slipped to its lowest level since early March and settled at 1441 units. That is the smallest number recorded for this particular week since 2014. Active MLS® listings are lower by 89 compared to last week’s close, and down on an annual basis by 162 properties.


Saskatoon condo buyers have 511 homes to choose from, down from 603 a year ago. The number of single-family homes for sale in Saskatoon sits at 858, roughly five percent lower on an annual basis.


Active Saskatoon real estate listing on the MLS at December 7, 2019, 2019



It was a strong sales week for homes priced below $250,000. Consequently, the median sale price for the week slipped to $305,000, while the weekly average price fell a bit more to $323,929. The six-week average price of a Saskatoon home inched up to $336,743 for a weekly gain of about fifteen hundred dollars. That represents a ten-week high, and is up about twenty-five hundred dollars, year-over-year. Meanwhile, the four-week median price took its second weekly decline and fell to $321,758 which is down about $7,000 annually.


Average and median prices for Saskatoon homes sold November 30 - December 6, 2019



Sellers hoping that some early Christmas spirit might generate an above list price offer were left disappointed. Buyers won at the negotiating table this week as 69 of the week’s 73 sales were reported to have sold below the seller’s asking price generating an average discount of $13,242.


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.


Sale price to list price ratios for Saskatoon homes sold through the MLS the week of November 30 - December 6, 2019


More weekly stats and numbers for those who love them. 


Saskatoon real estate statistics for MLS home sales from November 30 - December 6, 2019


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


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:
Jeff on Dec 11, 2019 6:41 PM posted:
123 expired and 45 cancelled listings? Yikes...

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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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