Saskatoon real estate week in review for May 11-17, 2019 (edition #636)

Saskatoon real estate sales in the residential category were higher than they were for the same period last year, now for the sixth consecutive week. Local REALTORS® firmed up 95 transactions in the category for a weekly gain of five and an annual increase of nine.

New listing activity remained seasonally strong. While the number of homes that were added to the MLS® fell five from the previous week, it grew by 15 units annually to reach 219.

The number of Saskatoon homes available to home buyers through the multiple listing service® continued to climb and reached 1890 by this morning. That brings a weekly increase of 78 properties and an annual decline of just 63. While active residential listings have remained at their lowest point in five years (for each week) most of this year we are close enough to last year’s numbers that the streak could end anytime. Weekly new listings should begin to decline very soon but we are still a month to two months away from seeing total inventory numbers reach their peak and it’s looking like we will easily eclipse 2000 listing before that happens.

Today’s totals include 708 Saskatoon condominiums, up nine from last week, but down 86 units from the close of the same week last year. Meanwhile, the number single-family homes that are offered for sale through the MLS® within the city of Saskatoon grew to 1060 for a weekly increase of 50. At this time last year there were 1032 Saskatoon houses for sale.

Upper end activity remained strong this past week and the weekly median price inched slightly higher to $325,000. A couple of sales that together added more than $2 million in dollar volume helped boost the average price of a Saskatoon home higher by nearly 25K this week to $355,979. The six-week average price took its fifth consecutive weekly gain and reached $340,074 which is nearly ten thousand dollars higher than it was at the close of the same period last year. The four-week median price moved in the opposite direction as it fell seven thousand dollars compared to the previous week to close ahead annually by close to fifteen thousand dollars.

Sellers hoping that multiple bids on their home might drive up the closing price were largely disappointed. Just two sales reported an above list price sale. One of those sellers picked up a $5,600 bonus, the other settled for $100 more than they had asked. Across the negotiating table, 85 Saskatoon home buyers closed a deal with an average discount of $11,373.

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.

More weekly stats and numbers for those who love them.

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

I’m always happy to answer your Saskatoon real estate questions. All of my contact info is here. Please feel free to call or email.

Norm Fisher

Royal LePage Vidorra

Saskatoon real estate week in review for May 4-10, 2019 (edition #635)

For the fifth consecutive week, home sale numbers came in higher than they were the previous year. Saskatoon real estate agents reported 90 firm deals to the multiple listing service®, down eight from the previous week but ahead of last year’s numbers by twenty sales.

New listings also sky-rocketed as eager sellers tried to get in on what is shaping up to be a strong spring market. A total of 226 Saskatoon homes were offered for sale, up 15 from the previous week. That’s ten fewer homes than we saw listed during the same period last year.

The inventory of active Saskatoon real estate listings spiked sharply higher as numbers grew by 79 across the week to reach 1818. That’s lower than levels recorded last year at this time by 70 homes. A closer look at the major housing categories shows that buyers have a selection of 1010 single-family homes today, an increase of 46 from a week ago, and 24 more than they would have found at this time last year. Condo inventory grew by 17 this week to reach 699 for an annual decline of 94 units, or 12 percent.

On the heels of a week that produced unusually high sales numbers in the range, sales in price categories below $250K fell lower. With strong buying activity of homes priced above the half million dollar mark, the weekly median sale price bounced back to $324,250 and the average sale price finished even higher at $331,188.

The longer-term measures both inched slightly higher this week. The six-week average price grew just fifteen hundred dollars and reached $336,720. That number is down two thousand dollars from the close of the same week last year. The four-week median price jumped by nearly four thousand dollars on the week to hit $332,000 which is up on an annual basis by twelve thousand dollars.

Six lucky Saskatoon homes sellers found themselves in the fortunate position of having multiple offers on their home which drove the contract price higher than the list price by an average of $2,800. That’s the highest number of above list price sales we’ve seen during any week this year and the first time that each major trading area has reported an over list price sale. Meanwhile, 77 Saskatoon homes sold for less than the asking price by an average of $12,388.

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.

More weekly stats and numbers for those who love them.

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

I’m always happy to answer your Saskatoon real estate questions. All of my contact info is here. Please feel free to call or email.

Norm Fisher

Royal LePage Vidorra

Saskatoon real estate week in review for April 27 – May 3, 2019 (edition #634)

It was another solid week for the Saskatoon real estate market as sales activity reached a new annual peak. Local agents reported 98 residential sales to the MLS® this week, an increase of five compared to the previous period. Sales were up from the same week last year by 13. This was the fourth consecutive week in which sales were higher on an annual basis. This streak of strong activity resulted in a 14% year-over-year increase in unit sales for April within the city and an 18% annual increase in the greater Saskatoon region.

The new listing activity also grew as nearly 40 more Saskatoon homes hit the market compared to the previous week. Those numbers still fell well short of last year’s which saw 211 listings come to the system.

A week of robust sales activity combined with a typical number of expired listings that tend to come with the turning of the calendar, brought inventory numbers lower for the second week in a row. As of this morning, Saskatoon home buyers could find 1739 residential properties showing an active status on the multiple listing service®. That’s down from 1763 a week ago. At the close of the same week last year there were 1793 Saskatoon homes for sale.

Single-family homes numbers slipped lower to 954 which is about even with last year’s total. Condominium inventory declined by ten on a weekly basis to start the new week at 681 for an annual drop of 58 units.

Following a couple of weeks of sales activity that was dominated by upper-end activity, first-time buyers showed up in a big way to offer on entry-level product. With 38 sales reporting a sale price below the quarter-million-dollar mark, both the weekly median sale price and the weekly average plunged lower to $285,950 and $315,586 respectively.

Meanwhile, the six-week average price edged up about a thousand bucks from last week to reach $335,190. That’s roughly two thousand dollars lower than it was at the close of the same week last year. The four-week median price fell five thousand dollars on the week to settle at $328,250 to remain higher on an annual basis by $13,250.

Three sales were reported to have sold above the asking price this past week. Those deals averaged an overbid of just seven hundred dollars. Another 87 sales went below the seller’s asking price netting buyers an average discount of $12,599.

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.

More weekly stats and numbers for those who love them.

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

I’m always happy to answer your Saskatoon real estate questions. All of my contact info is here. Please feel free to call or email.

Norm Fisher

Royal LePage Vidorra

Saskatoon real estate week in review for April 20-26, 2019 (edition #633)

The residential side of the Saskatoon real estate market posted its biggest sales week for the calendar year as completed transactions that may have been recorded Good Friday, had the MLS® not been closed for the holiday, added to the week’s numbers. A total of 93 Saskatoon homes traded hands for a weekly increase of 13, and an annual gain of three.

Meanwhile, new listing activity slowed substantially. Local agents brought just 134 new listings into the multiple listing service® which is down 40 units from the week before, and 21 fewer homes than the number offered for sale the same week last year.

Active listing numbers fell slightly from 1773 a week ago to 1763 by Saturday morning. At the close of the previous week, inventory had come within 25 units of matching last year’s number, which was the smallest year-over-year decline in about five months. This week, the gap grew just a bit. When business wrapped up for the same period last year, available MLS® listing had reached 1801.

Today’s totals include 967 single-family homes, which is a 27 unit increase from a year ago. Condominium inventory fell lower this week to 691 for an annual decline of 78 units, a ten percent drop from levels recorded a year ago.

You may recall that upper-end buyers showed up in a fairly big way last week. That continued through this period and the median sale price of a Saskatoon home edged higher to $346,000, even as the average weekly price fell by 10K to $351,605. The six-week average price took its fourth consecutive weekly increase to reach $334,167. That is up less than a thousand dollars from the close of the same week last year, and its highest point on the graph for 2019. The four-week median price continued an upward roll to grow by seven thousand dollars weekly. It closed the week at $333,250 to claim an annual increase of more than thirteen thousand dollars.

This week’s sales mix included four resale properties that sold for more than the asking price. While the average bonus paid amounted to $1350, the majority of that came from one sale that was reportedly completed at a price that was $5100 above the seller’s asking price. The other three buyers overbid by a modest $100 to close on the house they wanted to buy. Meanwhile, 84 of the week’s 93 sales were reported to have sold below the asking price at a discount averaging $13,233.

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.

More weekly stats and numbers for those who love them.

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

I’m always happy to answer your Saskatoon real estate questions. All of my contact info is here. Please feel free to call or email.

Norm Fisher

Royal LePage Vidorra

Saskatoon real estate week in review for April 13-19, 2019 (edition #632)

Saskatoon home sales took a modest dip this week with Friday’s closure of the MLS® system shortening the work week. Local agents reported 80 firm residential sales, a drop of seven from the previous week, and up by five when compared to the same week last year.

New listing activity continued to be strong as 174 Saskatoon homes were added to the multiple listing service®. That number is down 16 compared to activity reported the week before and even with listings generated over the same period last year.

Active listing numbers continued to grow at a more rapid pace than they did in 2018. After the overnight expired listings were removed from the mix, 1773 Saskatoon homes were showing an active status on the system. That is up 63 units from the previous week’s close and just 25 properties shy of levels recorded at the close of the same week a year ago. The trend of rapid growth to Saskatoon’s MLS® listing numbers suggests that we may be talking about year-over-year gains next week for the first time since October of last year when listing numbers started to trend lower. Single-family homes inventory sits at 970 today, up nearly 30 from a week ago, a 21 higher than last year. Condo inventory is at 694 for an annual drop of 61 homes.

Upper end real estate buyers showed up this past week and drove both the weekly median price and the weekly average higher to $340,000 and $361,118 respectively. The longer term measures followed along. The six-week average price grew nearly eight thousand dollars from last week but still closed lower than it was a year ago by roughly nine thousand dollars. Meanwhile, the four-week median price jumped 16K compared to the previous week and reached $326,250 to find itself up annually by just over six thousand dollars.

A couple of lucky sellers managed to find their home the subject of a bidding war. Those two deals netted the seller an average bonus of $2,600 more than their asking price. On the flip side of the negotiating table, 67 Saskatoon home buyers made off with a discount that averaged $13,540.

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.

More weekly stats and numbers for those who love them.

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

I’m always happy to answer your Saskatoon real estate questions. All of my contact info is here. Please feel free to call or email.

Norm Fisher

Royal LePage Vidorra