CONTACT

Saskatoon real estate week in review for October 17-23, 2020 (edition #711)


Saskatoon home sales bounced back into the three-figure territory for the first time in four weeks. Local real estate agents reported 104 firm sales, up from 95 last week, to top sales for the same week last year when just 63 trades were reported. This is the 20th consecutive in which sales met or exceeded those recorded over the same period last year.


New listing activity continued to cool. Over the past seven days, 122 new residential listings were added to the MLS®. That amounts to a weekly decline of eight listings and a drop of four from the same week in 2019. It’s the third consecutive week in which new listings moved lower, and the first week in six that new listings fell annually. 


Saskatoon real estate sales and listing stats for the week of October 17-23, 2020



The inventory of active MLS® listings dropped to 1428, down 38 from last week’s close. At this time last year, Saskatoon home buyers had 1726 listings to choose from.


While condo inventory fell lower on a weekly basis, we are now recording annual gains as levels grew to 591 from 580 a year ago. The number of single-family homes dropped to 761 for a weekly decline of 31 units, to find itself down 304 units annually.


Active Saskatoon real estate listing on the MLS at October 24, 2020



Far fewer trades below the quarter-million-dollar mark brought both the weekly median price and the weekly average higher to $339,500 and $354,338 respectively.


Those weekly gains were not enough to keep either of the longer-term price measures from slipping lower. The six-week average price fell three thousand dollars to settle at $353,135. That was enough to claim a year-over-year increase of 27K. The four-week median price fell for the second week in a row to $336,000. That’s a six thousand dollar change from last week. It remains higher annually by roughly twenty-thousand dollars.


Average and median prices for Saskatoon homes sold October 17-23, 2020



Overbid sales fell to just two, with one of the two sellers picking up a $40,100 bonus on top of their asking price. The other saw an offer that exceeded the list price by $100. Meanwhile, 91 of 104 trades closed below the asking price and netted those buyers an average discount of $13,378.


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 October 17-23, 2020


More weekly stats and numbers for those who love them. 


Saskatoon real estate statistics for MLS home sales from October 17-23, 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 nearly over 330,000 user sessions in the past year and displayed more than 2.8 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 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.
 

Subscribe to our Blog

Posts By Date
The Saskatchewan REALTORS® Association (SRA) (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.
Google Analytics Alternative