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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

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.
 

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 700 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.
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