CONTACT

Saskatoon real estate week in review for September 12-18, 2020 (edition #706)


On the heels of a short work week that produced the lowest number of home sales since the middle of May, Saskatoon real estate agents reported 104 deals to the MLS® to top sales for the same period last year by 42.


New listings continued to flow as if it were spring. Over the week, Saskatoon home owners listed 196 properties, up 22 from the previous week, and higher than the numbers recorded for the same week last year by 45.


Saskatoon real estate sales and listing stats for the week of September 12-18 020



The number of MLS® listings showing an active status on the system grew again for the second week in a row to reach 1536. That amounts to a weekly increase of 19 and an annual decline of 373 properties.


A closer look at the two major housing categories shows 860 single-family homes, up 15 from last week and down 298 from a year ago. There are also 592 Saskatoon condos for sale, nine more than were available last week, and 65 fewer than there were at this time last year.


Let’s take a look at our sales to listing ratio.


Sales over the past 30 days increased this week to 458. With inventory now sitting at 1536 that puts our “months of inventory” (MOI) at 3.35 which is down just a smidge from 3.4 months at the time of last week’s review. This very low MOI will continue to frustrate home buyers who are having difficulties finding much that they can make an offer on, particularly for single-family home buyers shopping at price points between $225,000 and $450,000.


Active Saskatoon real estate listing on the MLS at September 19, 2020



The weekly median home price fell lower to $325,000 as condo units priced below $200K had a big week. The weekly average sale price followed along and slipped lower by $40,000 to $333,101.


The six-week average price took its third consecutive weekly decline as it fell about six thousand dollars from last week to $350,445. That’s 16K higher than it was at this time last year. The four-week median price fell $50 from last week to $339,900 to claim an annual gain of just under twenty thousand dollars.


Average and median prices for Saskatoon homes sold September 12-18 2020



Overbid sales grew from three last week to five this period. On average, those lucky sellers saw a deal that was $4,280 above their listed price, with one home selling for 15K over. Meanwhile, 86 buyers came away from the negotiating table getting a discount averaging $12,503.


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 September 12-18, 2020

More weekly stats and numbers for those who love them. 


Saskatoon real estate statistics for MLS home sales from September 12-18, 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


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 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.
 

Subscribe to our Blog

Posts By Date
The Saskatchewan REALTORS® Association (SRA) (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.
Google Analytics Alternative