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Saskatoon real estate week in review for September 21-27, 2019 (edition #655)


Even as fall set in, Saskatoon real estate agents had a busy week with 80 local home sales reported to the MLS®, up 18 from the previous week. That was enough to match numbers recorded for the same period last year. As September draws to a close, monthly sales numbers exceed those recorded during the same month last year. We only have one business day to report sales for the month but it appears likely that residential sales will post a ten percent gain, or very close to that.


New listing activity slipped lower for the third consecutive week. A total of 149 Saskatoon homes were added to the multiple listing service® this week, down just two from both last week, and the same week last year.


Saskatoon residential MLS sales and and new listings for the week of September 20-27, 2019



Total MLS® inventory in the residential category inched lower to 1892 for a weekly decline of 17 and an annual drop of 63. As of this morning, 1145 single-family homes are showing an active status on the system. That number is down 13 from last week’s close, but up by 58 when compared to levels recorded on the same day last year. Today, there are 654 condominiums for sale in Saskatoon, well down from the 745 units that were for sale a year ago.


Active Saskatoon real estate listing on the MLS at September 27, 2019



While sales numbers were up sharply compared to last week, the split between the upper end and lower end sales was nearly the same as it was last week. The weekly median price, at $335,000, barely moved at all, even as the average sale price for the week edged lower to $340,615.


The six-week average price fell by less than $600 to $333,294. That’s up about $14,000 from the same week last year. The four-week median price continued its upward trend, now for the fifth consecutive week as it reached $325,000. That’s up 5K from last week and amounts to an annual increase of ten thousand dollars.


Average and median prices for Saskatoon homes sold September 20-27, 2019



Three fortunate sellers got a break at the negotiating table with an above list price sale that delivered an average bonus of $4,733. Two of those homes went for just $100 above list, while the third reported a sale at 14K more than they were asking. It’s my understanding that the price included a number of household items that wouldn’t normally be part of a real estate trade. Meanwhile, 73 of 80 sellers sharpened their pencil and agreed to sell their home at a discount that averaged $13,471.


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.


Sale price to list price ratios for Saskatoon homes sold through the MLS the week of September 20-27, 2019



More weekly stats and numbers for those who love them. 


Saskatoon real estate statistics for MLS home sales from September 20-27, 2019



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


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, 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.
 

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