Saskatoon real estate week in review for October 7-13, 2018

Saskatoon real estate sales took a solid dive this week as local REALTORS® reported just 54 firm sales to the multiple listing service®, down from 77 last week, and falling short of sales recorded for the same period last year when 65 homes traded.

New listing numbers continued to fall as well. This week, just 110 Saskatoon homes hit the MLS®. That’s well down from the previous period which counted 171 residential listings, which is 32 fewer homes than we saw enter the system over the same week last year.

Active listing inventory continued to fall at a rate that seems appropriate for the season. By this morning, Saskatoon home buyers could find 1864 properties for sale within Saskatoon city limits. That number is down 34 from a week ago, and further down from 2037 a year ago. Buyers can find just 1045 single-family homes in the MLS® today. That’s down about 12 percent from a year ago when 1191 detached houses were available. Condo inventory fell to 704 today, a drop of 29 from this time last year.

The median sale price of a Saskatoon home jumped 30K compared to the week before, thanks to more upper end activity. The average price also rallied upwards to $339,715. The six-week average price managed a second consecutive weekly gain as it climbed to $321,442. That’s still about nineteen thousand dollars lower than it was a year ago, and clearly still towards its low point for the year. The four-week median price also gained some ground as it grew by sixty-seven hundred dollars this week to reach $323,950. That’s good for an annual gain of 17K.

When all was said and done, 48 of this week’s buyers stood in for a discount on the home they bought. Those drops averaged $15,199. No seller saw an overbid sale this week.

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.

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 September 29 – October 6, 2018

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.

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 the number that 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.

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 reaching $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.

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.

More weekly stats and numbers for those who love them.

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 September 23-29, 2018

The final week of September delivered strong sales numbers as Saskatoon real estate agents reported a total of 80 firms deals to the multiple listings service®, up from 69 last week, and ahead of sales for the same period last year by ten. The month will close with 272 residential sales to claim a small gain over September 2017 when 261 Saskatoon homes traded hands through the MLS®. This will be the third consecutive month in which sales came in at or above numbers recorded the previous year.

New listing numbers trailed lower this week at 151, down nine from the previous week and well below the 183 homes that were listed over the same period last year.

MLS® inventory slipped lower, but not by much. As of this morning, home buyers had a choice of 1955 properties, down from 1969 at last week’s close, and down further from 2117 a year ago. Looking closer at the major housing categories, I count 1087 single-family homes for sale, well below the number that could be found at the close of the same week last year, 1264. Condo inventory is steady at 745, exactly where it was both a week and a year ago.

Both the weekly median price and the average sale price of a Saskatoon home moved higher this week as more upper-end sales were recorded. Those measures came in at $332,773 and $320,000 respectively.

The six-week average price fell lower for the seventh week in a row to settle at $319,385. That’s down more than $23,000 in a year. This measure’s low point in the chart got me digging into historical numbers and I could not find a number this lower since the close of March 2012.

The four-week median price was stable at $315,000. That’s where it was at last week’s close, and down just $2,000 from the same week last year.

One lucky seller saw an above list price offer that earned them a bonus of $10,100 more than they had asked. On the other hand, 72 of this week’s deals closed below asking price and netted the buyers a hefty average discount of $14,199.

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.

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 September 16-22, 2018

Saskatoon real estate sales remained stable this week on both a weekly and an annual basis. Local REALTORS® brought 69 firm residential sales to the multiple listing service®, down just three from last week, and up by two compared to the same week last year.

New listings continued to slip lower as they typically do at this time of the year. The total number of Saskatoon homes that showed up as new listings this week was 160, down from 167 the previous week. During the same period last year 189 homes entered the system.

The total number of homes available to buyers through the MLS® in Saskatoon inched higher to 1969 for a weekly increase of eight, and an annual drop of 179. A closer look at the major housing categories shows 1097 single-family detached houses, down from 1262 a year earlier, and 745 condominiums, down from 775 at the close of the same week last year.

The weekly average sale price of a Saskatoon home inched higher to $314,594. Meanwhile, the weekly median fell to $293,000 and reached its lowest point for the year.

The six-week average price took its sixth weekly decline to finish at $320,930. That’s down 30K from where it was a year ago. It’s the lowest number we’ve recorded for this price measure in the past year. The four-week median price broke a four-week losing streak to grow by $2,500 and finish the week at $315,000. That’s about $20,000 lower than it was a year ago.

Seller’s hoping for overbids were shut-out this week. On the other hand 64 of this week’s sales were reported to have sold for less than the asking price. They showed an average discount of $12,761.

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.

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 September 9-15, 2018

The Saskatoon real estate market bounced back over the past week as local REALTORS® reported 72 home sales to the multiple listing service®. That’s up by 21 compared to the previous week, and tops sales for the same period last year by 19. That was enough of a gain to make up for sales declines recorded over the first week of the month September, bringing us about even for the month of September on an annual basis.

New listing numbers grew from 158 last week to reach 167 by the close of business Friday. That number is down when compared to the same week last year when local agents listed 182 Saskatoon homes for sale.

The number of Saskatoon homes available to buyers on the MLS® fell by just five this week to settle at 1961, down from 2127 at the close of the same week in 2017. Today, there are 1086 detached houses for sale, down from 1227 a year earlier. The condominium category shows 753 active listings, down from 788 a year earlier.

With just five sales above the $500K mark, and twice that below $200,000 both the weekly average sale price and the weekly median fell lower to $310,929 and $313,750 respectively. The six-week average price slipped lower for the fourth consecutive week. It finished the period at $325,933 which is lower than last week by two grand, and down annually by nineteen thousand dollars. The four-week median fell for the fifth week in a row to settle at $312,500. That number is down nearly two thousand dollars for the week and sixteen thousand annually.

One lucky seller had a pleasant negotiation that resulted in a deal for $100 more than the list price they selected. It was a good week for buyers, 66 of whom managed to grind a discount that averaged $12,350.

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.

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