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Saskatoon real estate week in review for November 9-15, 2019 (edition #662)


Saskatoon real estate sales continued to soften this week as one would expect at this time of the year. Local REALTORS® reported 51 firm residential trades, down four from the week before but up by 13 when compared to sales for the same period last year.


Meanwhile, listing activity remained steady as 105 Saskatoon homes were offered for sale on the multiple listings service®. That matches last week’s numbers and amounts to an annual gain of just one listing.


Saskatoon residential MLS sales and and new listings for the week of November 9-15, 2019



The number of Saskatoon homes available to buyers on the MLS® system slipped lower and fell below 1600 units for the first time since the last week of March. A total of 1596 homes are showing an active status in this broad category this morning. A closer look at housing types shows 979 detached houses, the same number that was available a year ago. Condo inventory sits at 539, sharply lower than the 643 recorded a year ago.


Active Saskatoon real estate listing on the MLS at November 15, 2019



Sales below $200,000 fell lower this week which boosted both the weekly median price and the weekly average price of a Saskatoon home to $365,000 and $351,831 respectively.


The six-week average price was largely unchanged from a week ago at $325,918. This week, it’s lower than it was last year at this time by about nine thousand dollars. The four-week median price moved higher to $320,000 to finish the week lower than it was a year ago by $12,500.


Average and median prices for Saskatoon homes sold November 9-15, 2019



For the third week in a row, there were no overbid sales reported and just a small handful of trades that occurred at the seller’s asking price. Buyers came away from the negotiating table and closed their purchase at a discounted price in 46 of the week’s 51 sales. The average discount was $12,822.


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 9-15 2019



More weekly stats and numbers for those who love them. 

Saskatoon real estate statistics for MLS home sales from November 9-15, 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


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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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