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Saskatoon real estate week in review for September 29 - October 6, 2018 (edition #605)


It was a solid week for the Saskatoon real estate market. Local REALTORS® reported a total of 77 residential sales to the multiple listing service®. That number is down three from the previous week, and well up from the 61 Saskatoon homes that traded hands over the same period last year.


Meanwhile, the number of new listings processed through the MLS® grew to 171 as a slew of listings met the end of their term and re-entered the system for another go. While listings grew by 20 on a weekly basis, the numbers were substantially lower than they were over the same week last year when 219 Saskatoon homes were offered up for sale.


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The total number of homes offered for sale on the Saskatoon MLS® system continued to fall lower, this week dipping below 1900 for the first time since the middle of May. The final tally, as of this morning was 1898, down 57 from a week ago, and 169 fewer homes than could be found on the system a year ago. We are once again into that “lower than it has been for this week in four years time” area, but only marginally.


Single-family homes inventory has seen the greatest decline. There were 1264 of the available at the close of the same week last year. Today, there are just 1057. Condo inventory is also down. It’s now at 725, down from 735 a year earlier.


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The median sale price of a Saskatoon home was $327,500 for the week. With fewer home sales above the $500,000 mark, and nothing that sold for more than $635K, the average price for the week slipped lower to $316,925. The six-week average price broke a six-week losing streak as it edged up just under a thousand dollars from last week’s close to reach $320,271. That leaves it lower on an annual basis by roughly eighteen thousand dollars. The four-week median price also moved higher as it grew by $2250 from a week earlier and closed the period at $317,250. That’s actually higher than it was at the close of the same week last year when it had taken a wild dive to just $308,500.


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Remarkably, two seller’s put a deal to bed with an overbid, both of them in the five figure range. The buyer’s of those two homes coughed up an extra $15,100 in one case, and $10,100 in the other for an average overbid of $12,600.  Buyers insisted on some give from the seller in 69 of this week’s 77 deals. Those went firm below the seller’s listed price by an average of $13,081.


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.


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More weekly stats and numbers for those who love them.


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


I’m always happy to answer your Saskatoon real estate questions.  Please feel free to call or text me at 306-241-6676 or reach me by email at norm at teamfisher dot com.


Norm Fisher

Royal LePage Vidorra


Norm Fisher, Author of the TeamFisher Saskatoon Real Estate Blog

About Norm

As a collaborating partner on 'The Value-Driven Approach To Sell Real Estate' project, Norm shows Saskatoon homeowners how to find hidden, tax-free profits in their home sale.Less...

As a collaborating partner on 'The Value-Driven Approach To Sell Real Estate' project, Norm shows Saskatoon homeowners how to find hidden, tax-free profits in their home sale. Known locally as an impact leader he supports many organizations that serve our community’s most vulnerable people like the Saskatoon Interval House, the YWCA Crisis Shelter, the Lighthouse, the Friendship Inn and others. He has participated in several physically daunting charitable challenges and helped raise over one million dollars for women's shelters across Canada. Additionally, he’s a charter member of 100 Men Who Give a Damn in Saskatoon, a group of local philanthropists who are driven to bring positive change to those in need within our community. Fisher is a licensed real estate broker and owner of Royal LePage Vidorra, a boutique brokerage known for technology and innovation.

Note: We are in the process of bringing this blog home to the TeamFisher.com domain and we have a lot of stuff to move! Another 1400 posts can be found at normfisher.com where they'll remain until we can get them moved here.

The Saskatoon Region Association of REALTORS® (SRAR) IDX Reciprocity listings are displayed in accordance with SRAR's MLS® Data Access Agreement and are copyright of the Saskatoon Region Association of REALTORS®.
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.
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