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Saskatoon real estate week in review for September 19-25, 2020 (edition #707)


Saskatoon real estate agents reported 110 firm residential sales to the multiple listing service® this week. That’s an increase of six from last week’s numbers and well up from the same week last year when 80 properties were marked sold.


New listing activity fell sharply to 161, down 35 from last week and up by a dozen when compared to the same period last year.


Saskatoon real estate sales and listing stats for the week of September 19-25 2020



The total number of MLS® listings in the residential category slipped modestly lower, falling 11 from the previous week’s close to 1525. At this time last year, there were 1852 Saskatoon homes for sale on the MLS®.


Today’s total includes 854 detached single-family homes, down from a year ago by 291. There are also 591 condo properties, down 63 units from a year ago.


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


Sales for the previous 30 days slipped to 451, a drop of just seven from last week. With 1525 active MLS® listings, that gives us a “months of supply” measure of 3.38 which is slightly up from last week.


Active Saskatoon real estate listing on the MLS at September 26 2020



More activity at the upper end of the Saskatoon real estate market pushed the weekly average price and the weekly median price higher to $377,200 and $361,400 respectively.


The four-week median price broke new ground to reach an annual high of $343,000. That’s up just over $3,000 from last week, and $18,000 higher than it was at this time last year. The six-week average price grew to $355,019 to finish up by roughly $4,600 from last week. That amounts to an annual increase of $22,000.


Average and median prices for Saskatoon homes sold September 19-25 2020



The number of sellers who received an offer above their asking price spiked higher to 11 this week. Those sellers saw an average bonus of $2,791 which was skewed significantly by one $15,000 overbid. Meanwhile, 85 of the week’s 110 sales closed for less than the seller’s asking price to net those buyers an average discount of $14,319.


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 19-25 2020


More weekly stats and numbers for those who love them. 


Saskatoon real estate statistics for MLS home sales from September 19-25 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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