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Saskatoon real estate week in review for October 12-18, 2019 (edition #658)


A short work week likely contributed to falling sales this week as Saskatoon real estate agents reported just 52 firm residential trades to the multiple listing service®. That’s down 30 units from the week before and eight fewer sales than were reported over the same period last year.


New listing activity fell to its lowest level since late February with just 109 Saskatoon homes being added to the MLS® for a weekly drop of 39 and an annual dip of nine.


Saskatoon residential MLS sales and and new listings for the week of October 11-18, 2019



MLS® inventory slipped marginally lower as we closed the week with 1756 active residential listings, down just ten from last week’s close. At the end of the same week last year, buyers had 1836 residential listings to choose from.


Today’s totals include 1083 single-family homes, up 60 from a year earlier and 586 condos, down 112 from the close of the same week last year.


Active Saskatoon real estate listing on the MLS at October 19, 2019



Entry-level sales continued to dominate the sales activity as buyers scooped up cheap condos and pushed the median sale price for the week lower again to $284,750. The average sale price for the week bounced higher but still remained well below the annual average at just $315,245. That, despite the fact that a single sale at $1,335,000 skewed the average significantly higher.


The six-week average price slipped a bit more than four thousand dollars this week to $331,012 but still managed to maintain some annual gains. It was up about 12K from a year ago. The four-week median price slid $10,000 from last week to settle at $310,000. The measure is also down 10K on a year-over-year basis.


Average and median prices for Saskatoon homes sold October 11-18, 2019



Once again, only one seller found a buyer willing to pay more than the list price, but the bonus was hefty at $16,500. Meanwhile, 47 of 52 deals closed at less than the asking price with an average discount of $10,263.


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 October 11-18, 2019



More weekly stats and numbers for those who love them. 


Saskatoon real estate statistics for MLS home sales from October 11-18, 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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