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Saskatoon real estate week in review for October 24-30, 2020 (edition #712)


For the second consecutive week, Saskatoon real estate sales numbers hit triple digits. Local REALTORS® reported 102 firm residential trades to the MLS® system this past week, down two from the week before, but well up from 70 deals over the same week last year.


New listing numbers also rose as 127 Saskatoon homes were offered for sale on the multiple listing service®. That’s up just five from the week before, and down two from the same period of 2019.


Saskatoon real estate sales and listing stats for the week of October 24-30, 2020



The number of active residential listings available on the MLS® dropped to its lowest level since late February. As of this morning, there are 1367 properties showing an active status on the system, down 61 from last week’s close, and further down from 1625 a year ago.


Available single-family homes fell to 721 for a weekly drop of 40, down annually by 334. Condo inventory is lower by 23 from last week’s close but higher by 13 on a year-over-year basis.


Active Saskatoon real estate listing on the MLS at October 30, 2020



Both the weekly average sale price, and the weekly median sale price slipped lower to $350,493 and $327,750 respectively.


The six-week average price took an upward turn to finish the week at $350,493. That amounts to a weekly increase of just under three thousand dollars and an annual gain of more than 28K. The four-week median price took its third consecutive weekly drop to finish up at $331,250. That’s lower than last week by roughly five thousand dollars but higher annually by $15,250. That’s the lowest year-over-year increase since last July.


Average and median prices for Saskatoon homes sold October 24-30, 2020



Overbid sales were back on the board in a serious way. This week, ten sellers wrapped up a deal for more than their asking price by an average of $6,911. Three of ten overbid sales were in the five-figure range and that skewed the average solidly. 86 of the week’s trades went for less than the asking price delivering an average discount of $12,238 to those buyers.


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 24-30, 2020


More weekly stats and numbers for those who love them. 


Saskatoon real estate statistics for MLS home sales from October 24-30, 2020



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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


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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.
 

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