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Saskatoon real estate week in review for September 26 - October 2, 2020 (edition #708)


Saskatoon real estate sales fell lower this week. Local agents reported 98 firm residential trades to the multiple listing service®, down 12 from last week, but higher by 18 when compared against sales for the same week last year. This is the 17th consecutive week in which sales met or exceeded those for the same week last year (met on one occasion and exceeded on 16 others).


The new listing activity remained strong. As the calendar turned, 85 active MLS® listings expired, so this week’s numbers include many re-listed homes from that lot. In total, there were 183 new listings added to the system. That’s up from 161 last week and higher than numbers reported for the same week last year by 38 homes.


Saskatoon real estate sales and listing stats for the week of September 26 - October 2, 2020




Active MLS® inventory dipped below 1500 as it has at the close of each of the past three months. Today, there are just 1484 Saskatoon homes showing an active status on the MLS® for a weekly decline of 39 units. At this time last year, active listings stood at 1783. 


Included in the inventory are 827 single-family homes, down from 1083 a year ago, and 577 condos, down 23 on a year-over-year basis.


30-day sales are at 434 today, down from 451 last week. With active listings at 1484, that gives us a “months of inventory” level of 3.44 months which is just slightly higher than it was last week.


Active Saskatoon real estate listing on the MLS at October 3, 2020



Healthy activity at price points below the quarter-million-dollar mark helped usher the median sale price for the week lower by nearly 20K to $342,500. That segment also contributed to an even larger drop in the weekly average which came in at $353,955.


The four-week-median price reached an annual high for the second week in a row at $344,700. That’s up seventeen hundred dollars from last week, and higher by nearly 18K on an annual basis. The six-week average price inched upwards to $355,287. That’s just a couple of hundred dollars ahead of the previous week’s close, and about 16K higher than it was a year ago.


Average and median prices for Saskatoon homes sold September 26 - October 2, 2020



Overbid sales came in at seven, down from 11 last week. The average overbid was $6,629 but most of the big bucks were won by two sellers who averaged a 20K bonus. Meanwhile, 79 of the week’s 98 sales went for less than the seller’s asking price, netting those buyers an average discount of $9,674.


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 26 - October 2, 2020


More weekly stats and numbers for those who love them. 


Saskatoon real estate statistics for MLS home sales from September 26 - October 2, 2020


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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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