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Saskatoon real estate week in review for October 19-25, 2019 (edition #659)


Saskatoon real estate sales improved modestly after falling sharply lower last week. Local agents reported 66 firm residential trades, for a weekly increase of 14 property sales and an annual increase of two.


The new listing activity also grew as 126 Saskatoon homes were added to the multiple listing service®, 17 more than hit the system last week, and up by eight compared against activity recorded for the same week last year.


Saskatoon residential MLS sales and and new listings for the week of October 19-25, 2019



The inventory of Saskatoon homes listed for sale on the MLS® edged lower to 1726 and reached its lowest point since late April. That amounts to a drop of 30 listings from last week’s close and leaves us down 87 units from the total count a year ago.


A closer look at the major categories shows 1065 Saskatoon housed for sale, down 18 from last week and up 61 annually. Condo inventory slipped just six this week to settle at 580 for a year-over-year decline of 115 units, or roughly 16 percent.


Active Saskatoon real estate listing on the MLS at October 26, 2019



It was another week of strong activity at the market’s entry-level. For the third consecutive week, the weekly median price of a Saskatoon home edged lower, this week to $283,500. High-end sales continued to slump leaving the weekly average sale price well down from typical levels as it dipped to $314,344.


The six-week average price fell lower again, this time to $325,948 and recorded a weekly decline of about 5K while managing to finish twenty-five hundred dollars higher than it was at the close of the same week last year. The four-week median price headed for higher ground to grow by close to six thousand dollars over the previous week and reach $315,987. That’s pretty much exactly where it stood a year ago.


Average and median prices for Saskatoon homes sold October 19-25, 2019



Three sellers found an enthusiastic buyer who was motivated to shut out some competitive offers. Those deals closed above the asking price by an average of $3,833 with the lion’s share of the bonus being paid to one seller who got $11,100 more than they had asked. On the other hand, 54 of the week’s 66 deals wrapped up with a price below the listed price. Those buyers saw an average discount of $12,153.


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 19-25, 2019



More weekly stats and numbers for those who love them. 

Saskatoon real estate statistics for MLS home sales from October 18-25 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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