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Saskatoon real estate week in review for October 3-9, 2020 (edition #709)


It’s another amazing Saskatchewan fall weekend. To all who celebrate, Happy Thanksgiving to you from all of us at TeamFisher and Royal LePage Vidorra. 


I’m very thankful for your appearance here!


Saskatoon home sales slipped lower for the second week in a row as local real estate agents reported 89 firm residential trades to the multiple listings service®. That number is lower than last week by nine deals but higher than sales recorded for the same week last year by seven. That is the 18th consecutive week in which sales were equal to or greater than those recorded for the same period last year. It has been quite a four-month run.


New listing numbers fell to their lowest level in ten weeks. A total of 152 Saskatoon homes were listed for sale over the past week. That is well down from 183 last week, but up when compared against numbers recorded over the same week last year when 148 residential properties were offered for sale.


Saskatoon real estate sales and listing stats for the week of October 3-9, 2020



The number of homes showing an active status on the MLS® slipped by just one this week to 1483, our lowest number since the end of July. Today’s inventory includes 817 single-family homes, down from 1086 at this time last year, and 586 condos, down just three units from a year ago.


Sales over the past 30 days slipped by just one to 433. That kept our “months of inventory” stable at 3.4, still a very frustrating market for home buyers looking in the more popular price ranges.


Active Saskatoon real estate listing on the MLS at October 10, 2020



The distribution of sales between the upper and lower end of the market remained stable and the median sale price for the week fell just $500 to $342,000. The weekly average price moved higher by about 10K, thanks in part to a single sale at $2.85 million.


The four-week median price pushed marginally higher to set another annual record at $345,000. That’s up just $300 from last week, and higher annually by about twenty-one thousand dollars. The six-week average price also grew by $1400 this week to reach $355,619. It claimed a year-over-year increase of 20K.


Average and median prices for Saskatoon homes sold October 3-9, 2020



Overbid activity fell from seven last week to just four but the average bonus paid to these lucky sellers was solid at $3,850. Meanwhile, 75 of this week’s deals closed below the seller’s asking price and netted those buyers an average discount of $12,295.


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 3-9, 2020


More weekly stats and numbers for those who love them. 


Saskatoon real estate statistics for MLS home sales from October 3-9, 2020



I've seriously upped my Facebook and Instagram game. Follow me to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.


TeamFisher.com hosted nearly a quarter of a million user sessions and displayed more than 1.2 million pages to our visitors in 2019. 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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