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Saskatoon real estate week in review for October 7-13, 2018 (edition #606)


Saskatoon real estate sales took a solid dive this week as local REALTORS® reported just 54 firm sales to the multiple listing service®, down from 77 last week, and falling short of sales recorded for the same period last year when 65 homes traded.


New listing numbers continued to fall as well. This week, just 110 Saskatoon homes hit the MLS®. That’s well down from the previous period which counted 171 residential listings, which is 32 fewer homes than we saw enter the system over the same week last year.


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Active listing inventory continued to fall at a rate that seems appropriate for the season. By this morning, Saskatoon home buyers could find 1864 properties for sale within Saskatoon city limits. That number is down 34 from a week ago, and further down from 2037 a year ago. Buyers can find just 1045 single-family homes in the MLS® today. That’s down about 12 percent from a year ago when 1191 detached houses were available. Condo inventory fell to 704 today, a drop of 29 from this time last year.


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The median sale price of a Saskatoon home jumped 30K compared to the week before, thanks to more upper end activity. The average price also rallied upwards to $339,715. The six-week average price managed a second consecutive weekly gain as it climbed to $321,442. That’s still about nineteen thousand dollars lower than it was a year ago, and clearly still towards its low point for the year. The four-week median price also gained some ground as it grew by sixty-seven hundred dollars this week to reach $323,950. That’s good for an annual gain of 17K.


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When all was said and done, 48 of this week’s buyers stood in for a discount on the home they bought. Those drops averaged $15,199. No seller saw an overbid sale this week.


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.


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More weekly stats and numbers for those who love them.


General


Thank-you for reading TeamFisher’s Saskatoon Real Estate Week in Review.


I’m always happy to answer your Saskatoon real estate questions.  Please feel free to call or text me at 306-241-6676 or reach me by email at norm at teamfisher dot com.


Norm Fisher

Royal LePage Vidorra


Norm Fisher, Author of the TeamFisher Saskatoon Real Estate Blog

About Norm

As a collaborating partner on 'The Value-Driven Approach To Sell Real Estate' project, Norm shows Saskatoon homeowners how to find hidden, tax-free profits in their home sale.Less...

As a collaborating partner on 'The Value-Driven Approach To Sell Real Estate' project, Norm shows Saskatoon homeowners how to find hidden, tax-free profits in their home sale. Known locally as an impact leader he supports many organizations that serve our community’s most vulnerable people like the Saskatoon Interval House, the YWCA Crisis Shelter, the Lighthouse, the Friendship Inn and others. He has participated in several physically daunting charitable challenges and helped raise over one million dollars for women's shelters across Canada. Additionally, he’s a charter member of 100 Men Who Give a Damn in Saskatoon, a group of local philanthropists who are driven to bring positive change to those in need within our community. Fisher is a licensed real estate broker and owner of Royal LePage Vidorra, a boutique brokerage known for technology and innovation.

Note: We are in the process of bringing this blog home to the TeamFisher.com domain and we have a lot of stuff to move! Another 1400 posts can be found at normfisher.com where they'll remain until we can get them moved here.

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.
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