CONTACT

Saskatoon real estate week in review for October 26 - November 1, 2019 (edition #660)


Saskatoon real estate sales continued to show strength through the final week of October to close the month with a year-over-year increase in units traded that topped seven percent. Local REALTORS reported 70 firm residential sales to the multiple listings service®, up by four from the previous week, and higher annually by 35 sales.


New listing activity continued to show signs of decline. A total of 129 Saskatoon homes were offered for sale on the MLS®. That number is up by three from the previous week, and down by 22 compared to the same week last year.


Saskatoon residential MLS sales and and new listings for the week of October 26 - November 1, 2019



Strong sales, softer listing activity and a slew of listings that came to the end of their term without a sale brought the total number of Saskatoon real estate listings sharply lower. This morning, we see 1626 active listings on the MLS®, down 101 from a week ago, and lower than the number recorded at this time last year by 125. Expect to see a bump to the numbers next week as sellers regroup and bring their home back to the MLS for another go.


Today’s total includes 1055 single-family homes, about 68 more than could be found at this time last year. Condo inventory is at 555, down 108 units from a year ago.


Active Saskatoon real estate listing on the MLS at November 2, 2019



Following three weeks of activity that was largely driven by entry-level buyers, upper-end home sales had a solid run to push the weekly median price of a Saskatoon home higher by 67K. With a dozen sales topping the $500,000 mark, the weekly average price also surged higher to hit $362,800. That’s up nearly fifty thousand dollars from last week’s average.


The six-week average price headed up too, though far more modestly. That measure grew by $2500 from a week ago to reach $328,500. That’s about thirteen hundred dollars higher annually. Meanwhile, the four-week median sale price of a Saskatoon home remained unchanged from last week at $316,000. This measure is down annually by one thousand dollars.


Average and median prices for Saskatoon homes sold October 26 - November 1, 2019



For the first time in a couple of months, there were no overbid sales reported. Buyers had a good week at the negotiating table as 62 of the week’s 70 sales were reported to have sold below the asking price, netting an average discount of $13,199.


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 26 - November 1, 2019


More weekly stats and numbers for those who love them. 


Saskatoon real estate statistics for MLS home sales from October 26 - November 1, 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


Comments:
No comments

Post Your Comment:

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.
 

Posts By Date
The Saskatoon Region Association of REALTORS® (SRAR) IDX Reciprocity listings are displayed in accordance with SRAR's MLS® Data Access Agreement and are copyright of the Saskatoon Region Association of REALTORS®.
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 Saskatoon Region Association of REALTORS® displayed on this site is refreshed every 2 hours.
Google Analytics Alternative