CONTACT

Saskatoon real estate week in review for September 11-17, 2021 (edition #758)


For the second week in a row, we saw the number of Saskatoon homes that sold through the multiple listing service® slip lower. This week, sales came in at 83 units, the lowest number for any week since the first week of February. We were down just two sales from last week but lower annually by 21.


The new listing activity also continued to cool. This past week, just 186 Saskatoon homes hit the MLS®. That’s down 21 units from last week and lower by ten when compared against the same week last year.


Saskatoon real estate sales and new listings sold through the MLS from September 11-17, 2021



The total number of homes for sale on the MLS® grew for the second consecutive week to reach 1412, up 11 from last week’s close, and down by 124 from where the numbers stood a year ago.


Today, there are 751 single-family homes for sale on the system, up 11 from last week, and lower by 109 units when compared against the close of the same week last year. Additionally, there are 585 Saskatoon condos for sale. That amounts to a gain of six from last week and it’s down seven from a year ago.


As we very clearly move into a softer season for sales, the number of sales over the past 30 days fell sharply for the second consecutive week, this week falling to just 424, down 45 (10%) from last week.


With a slightly higher listing inventory and significantly fewer sales, conditions improved substantially for buyers, even as two of the three categories that we report on remain in seller’s market territory.


Here’s what “months of inventory” look like across the broader market, and by category.


All residential - 1412 active listings / 424 sales = 3.3 month supply (up 0.3 months from last week, now up 0.5 months in two weeks)


Single-family homes - 751 listings / 266 sales = 2.8 month supply (up 0.3 months from last week, now up 0.5 months in two weeks).


Condos - 585 listings / 133 sales = a 4.4 month supply. (up 0.5 months from last week and now up 0.7 in two weeks).


Active residential listings on the Saskatoon MLS on September 12, 2021



The weekly median price bounced back from $310,000 last week to $330,000 this week while the average sale price for the week slipped lower from nearly $350,000 to $328,529.


Meanwhile, the six-week average price fell lower, dropping almost two thousand dollars from last week to settle at $352,856. That’s higher than it was a year ago by roughly $2,500. The four-week median price that had been in a free fall for 15 weeks stayed stable for the third week in a row. It ticked up just a thousand dollars from last week to $325,000 which is lower annually by 15K.


Average and median prices for Saskatoon homes sold through the MLS from September 11-17, 2021



The number of homes that sold for more than the asking price fell by one on a weekly basis. Those 11 home sellers sold for just $3,348 more than the asking price, the lowest average overbid for many months. Another 64 sellers gave up a bit at the negotiating table to close a sale below their asking price, on average by $7,159.


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.


List price to sale price ratio of Saskatoon homes sold through the MLS from September 11-17, 2021

More weekly stats and numbers for those who love them. 

Saskatoon real estate statistics for homes sold through the MLS from September 11-17, 2021



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


TeamFisher.com hosted over 450,000 user sessions in the past year and displayed more than four 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 306-900-4161 or email me at norm at teamfisher.com


Norm Fisher

Royal LePage Vidorra


Comments:
No comments

Post Your Comment:

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 750 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 750 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.
 

Subscribe to our Blog

Posts By Date
The Saskatchewan REALTORS® Association (SRA) IDX Reciprocity listings are displayed in accordance with SRA's MLS® Data Access Agreement and are copyright of the Saskatchewan REALTORS® Association (SRA).
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 Saskatchewan REALTORS® Association (SRA) displayed on this site is refreshed every 2 hours.
$(document).ready(function () { var allBoxes = $("#mrp-container10 div.weblet_web-syndication").children("div"); transitionBox(null, allBoxes.first()); }); function transitionBox(from, to) { function next() { var nextTo; if (to.is(":last-child")) { nextTo = to.closest("#mrp-container10 .weblet_web-syndication").children("div").first(); } else { nextTo = to.next(); } to.fadeIn(500, function () { setTimeout(function () { transitionBox(to, nextTo); }, 7000); }); } if (from) { from.fadeOut(500, next); } else { next(); } }