Irwin Realty & Associates, Royal LePage Saskatoon Real Estate : Blog : Latest Blog Posts

COMING SOON! 1011 Kloppenburg Bend in Evergreen

Tue, 17 Jun 2025 19:29:45 GMT

Welcome to 1011 Kloppenburg Bend, this exquisite 5-bedroom, 3-bathroom modified bilevel is a testament to modern living with a family-friendly twist. Measuring in at 1858 sqft, this home is the quintessential haven for large families, discerning professionals, and savvy investors alike.

The main living area features a good sized living room that seamlessly integrates into the dining area. Culinary enthusiasts will revel in the chef's kitchen, boasting a functional peninsula with breakfast bar, an island, and an abundance of cabinetry and storage. Stainless steel appliances—including a large gas range, built-in dishwasher, fridge, and oven—complement the kitchen's practical elegance.

The area is bathed in sunlight, courtesy of large kitchen windows overlooking the fully fenced and landscaped backyard. Patio doors open onto a covered screened-in porch, a BBQ deck, and a lower-tiered entertainment deck, perfect for al fresco dining and outdoor gatherings.

Completing the main floor are two well-proportioned bedrooms and a full four-piece bath with tiled floors. Ascend to discover the large primary bedroom, a peaceful retreat featuring a 4-piece ensuite with dual sinks, a stand-up shower, and a private patio..

The basement houses a versatile great room and includes a two-bedroom legal suite with a separate entrance. The suite is complete with a kitchen, breakfast bar, and spacious living area, ensuring comfortable accommodation or rental potential.

Additional highlights include central AC, central vac, triple pane windows, a 22'x27' heated garage, zero maintenance front yard with off-street parking for five vehicles, and proximity to parks, schools, and all local amenities. The Northeast Swale is also within walking distance, offering a natural sanctuary for those who appreciate outdoor activities. 1011 Kloppenburg Bend promises a lifestyle of comfort, convenience, and undeniable sophistication.

The Saskatoon real estate week in review comes to a close

Sun, 04 Dec 2022 19:56:10 GMT

The video explains why, and a few of my early reflections about it.

New thoughts continue to come to me.

Though I did not say this explicitly in the video, I suppose a key message is that we should be careful that things that are ultimately of little importance don’t become significantly important to us.

The importance of anything can also change over time. For instance, the week in review was instrumental in building my business over a decade. While that was happening, its overall significance grew in my own mind to a point that it was difficult to let go of. Everything that we hold onto tightly takes up space and prevents other things from finding a place within us.

My sincere thanks to all who gave me the honour of their attention, whether on one occasion, or many. I sincerely appreciate you.

Follow me on Facebook and Instagram to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.

TeamFisher.com hosted over 520,000 user sessions last year and displayed more than 4.4 million pages to our visitors. 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 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra

Have a great week everyone.

Canadian home sales edge higher from September to October, 2022: CREA

Tue, 29 Nov 2022 17:23:17 GMT

The Canadian Real Estate Association (CREA) recently released national sales statistics for October 2022.

"Home sales recorded over Canadian MLS® Systems edged up by 1.3% between September and October 2022. While not a large increase, it was significant in that it was the first monthly gain since February.

"The actual (not seasonally adjusted) number of transactions in October 2022 came in 36% below that same month last year, and stood about 15% below the pre-COVID-19 10-year average for the month."

Highlights of CREA's report

• National home sales were up 1.3% on a month-over-month basis in October.

• Actual (not seasonally adjusted) monthly activity came in 36% below October 2021.

• The number of newly listed properties edged up 2.2% month-over-month.

• The MLS® Home Price Index (HPI) declined by 1.2% month-over-month and was down 0.8% year-over-year.

• The actual (not seasonally adjusted) national average sale price posted a 9.9% year-over-year decline in October.

Read the recently released national sales statistics for October, 2022.

Follow me on Facebook and Instagram to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.

I’m always happy to answer your Saskatoon real estate questions. Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra

Saskatoon real estate week in review for November 19-25, 2022 (edition #820)

Sat, 26 Nov 2022 15:44:37 GMT

On the heels of a strong week, Saskatoon home sales fell lower to 57 units, down 19 from the previous period and lower annually by 40 deals.

New listing activity dropped to its lowest level since the third week of January as Saskatoon real estate agents brought just 97 homes to the multiple listing service®. That’s 24 fewer homes than came on the market the week before and lower by 13 when compared to activity over the same week last year.

Active listing inventory slid lower for the 10th consecutive week closing the period at 1081, down 19 from last week. For the first time since May of 2021, we close the week with more active listings than we had a year ago. Last year at this time, there were 28 fewer Saskatoon homes for sale. In May of 2021, that lasted a single week. This time, I expect we’ll have year-over-year gains well into the new year.

A closer look at the major categories shows 649 single-family detached homes displaying an active status, down 21 from last week and up 152 from the close of the same week last year. Condo inventory sits at 362 today, up four from last week and down annually by 91.

30-day sales held steady this week at 273 leaving “months of inventory” (MOI) almost unchanged. Here’s what MOI looks like today.

All residential - 1081 active listings / 273 sales = 4.0 month supply (same as last week).

Single-family homes - 649 listings / 165 sales = 3,9 month supply (down 0.1 months from last week).

Condos - 362 listings / 85 sales = 4.3 month supply. (unchanged from last week).

It was another decent week for the upper end of the Saskatoon housing market. Robust sales in this pricing category brought the median weekly sale price to its highest point since mid-August. It came in at $365,000 while the weekly average sale price bounced higher to $365,889.

The four-week median price inched upwards for the third week in a row reaching $336,750 which is lower annually by 29K. Meanwhile, the six-week average price came up from its annual low reached last week rising to $350,969 to find itself lower than it was at this time last year by $30,000.

During this period, there were six Saskatoon homes sold for more than the asking price. Those deals saw an average overboard of $9,767. The number of sales recording a sale price that matched the seller’s asking price fell to just three. That left 48 of the week’s 57 sales reporting a price that was below the seller’s ask by an average of $11,769.

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. A description of the geographic boundaries of areas 1 through 5 is here.

More weekly stats for those who want to go deeper.

Follow me on Facebook and Instagram to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.

I’m always happy to answer your Saskatoon real estate questions. Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra

Saskatoon real estate week in review for the week of November 12-18, 2022

Sat, 19 Nov 2022 14:58:35 GMT

You may recall that last week was a short one, due to the observance of Remembrance Day and the consequential closing of the MLS®. Four day work weeks often result in soft sales that appear in the stats the following week. For that reason, we saw a bit of sales growth at a time of year when declines are most typical.

This period, sales grew to 76. That’s the largest number of sales that we’ve seen in five weeks, up 19 from last week but lower annually, also by 19 units.

The new listing activity also grew, but more modestly. Saskatoon real estate agents added 121 residential properties to the multiple listing service® for a weekly increase of six and a year-over-year gain of 25.

Our active listing inventory slipped below 1,100 this week, just barely, as we finish the week with 1,099 properties showing as “active” on the system. That’s lower than the previous week’s close by 16 and down just 26 from where it stood a year ago. The current trend indicates that inventory will be higher annually by next week and I expect it will stay that way through the winter months, which will be the first extended period of year-over-year gains in several years.

Today, buyers can find 682 single-family homes for sale. That’s down 12 from last week and well up from the previous year when there were only 582 houses available for sale. Condo numbers are at 358 today, down two from a week earlier and down from 408 a year ago.

30-day sales continues to inch lower, this week slipping by six 273 to bring “months of inventory” (MOI) to to a balanced state in all three of the major categories we track. Here’s what MOI looks like today.

All residential - 1099 active listings / 273 sales = 4.0 month supply (same as last week).

Single-family homes - 670 listings / 164 sales = 4.0 month supply (up 0.1 months from last week).

Condos - 358 listings / 83 sales = 4.3 month supply. (up 0.2 months from last week).

A solid sales week for homes above $500,000 pushed the median sale price higher to $335,500. The weekly average also grew and hit $359,898.

Still, the six-week average price continued on its downward slide that began eight weeks ago. This period, it comes in at $346,042. That’s down just $900 from last week and lower annually by 26K.

The four-week median price saw it’s third consecutive increase as it grew two thousand dollars from last week to reach $335,000. That’s also lower annually by $26,000.

The number of homes to sell for more than the asking price slipped to just four with the average overbid being $2,275. Just two other listings attracted a full list price offer leaving 70 of the week’s 76 sales selling below list price by an average of $13,613.

More weekly stats and numbers for those who love them.

Follow me on Facebook and Instagram to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.

I’m always happy to answer your Saskatoon real estate questions. Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra

Saskatoon real estate week in review for November 5-11, 2022 (edition #818)

Sat, 12 Nov 2022 16:21:44 GMT

Sales numbers for the Saskatoon real estate market continued to come in towards annual lows with just 57 residential sales being reported to the multiple listing service®. That’s up from last week by two, but down from the same week last year by 25.

The new listing activity also waned, falling to its lowest level since the final week of January with just 115 Saskatoon homes being offered for sale on the MLS®. That number is lower than the previous week by 35, and down by 11 on a year-over-year basis.

It’s worth noting that the Saskatoon MLS® was closed for Remembrance Day on Friday. While that closure does not affect new listings, which are always uploaded by the seller’s brokerage, it does affect sales, which are always updated by the staff of the real estate association that provides the MLS service. In all likelihood, some of this week’s sales will go into next week’s numbers.

After falling lower for seven consecutive weeks, the inventory of active real estate listings in Saskatoon saw a slight upward tick. We close the week with 1115 residential listings available to buyers, up five from the previous week’s close, and lower annually by just 63.

Although inventory remains low it’s falling far slower than it typically would at this time of the year. It appears likely that over the next couple of weeks, we will find ourselves holding a greater number of listings than we did a year earlier.

As the week wrapped up, Saskatoon home buyers had a selection of 682 single-family homes, up just one from a week ago, and higher annually by 99 units. Condo inventory remained stable this week at 360 listings, down 161 from the close of the same week last year.

As expected, 30-day sales have been inching lower for about three months now. This week they took a large drop falling 24 units to slip below 300 for the first time since early this year. That number is now at 280.

Even with a slight growth in active listings, the drop in 30-day sales brought “months of inventory” (MOI) higher as two of the three categories we track officially landed in “balanced market” territory (inventory that would take four to six months to deplete based on current demand is considered to be in balance, where neither the buyer nor seller have a distinct advantage). Here’s what MOI looks like today.

All residential - 1115 active listings / 280 sales = 4.0 month supply (up 0.3 months from last week, and now in balance relative to demand).

Single-family homes - 682 listings / 174 sales = 3.9 month supply (up 0.2 months from last week).

Condos - 360 listings / 87 sales = 4.1 month supply. (up 0.5 months from last week and now in balance relative to demand).

With just 10 percent of sales boasting a sale price above 500K both the weekly average sale price and the weekly median fell lower to $317,597 and $325,000 respectively.

With luxury home sales seeing a larger drop in sales than any other category, the six-week average price continued its slide, now for the seventh consecutive week. It slipped about four thousand dollars from last week to $347,000. That’s down just over 30K on an annual basis and its lowest point since August of 2021.

After reaching its lowest point since early January last week when the number of selling for more than the list price fell to zero, a few die-hards eager to put the home-buying experience behind them threw some cash around. Six sales showed a sale price that was higher than the list price this week. Meanwhile, 44 of 57 sales required some back-and-forth negotiations that resulted in sale prices that were, on average, $11,377 below the asking price.

More weekly stats and numbers for those who love them.

Follow me on Facebook and Instagram to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.

I’m always happy to answer your Saskatoon real estate questions. Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra

Saskatoon real estate week in review for October 29 - November 4, 2022 (edition #817)

Sat, 05 Nov 2022 16:42:54 GMT

Saskatoon home sales took a downward slide, this week falling to their lowest level since the third week of January. Local real estate agents reported 55 residential sales within city boundaries to the multiple listing service®. That’s down from the previous week by 14 and lower annually by 35 homes.

The new listing activity also slipped lower falling by seven units on a weekly basis to 150, which is actually up by ten units from the same week last year.

The number of Saskatoon homes available on the MLS® system slid lower for the seventh consecutive week. It fell by 15 from the week before to settle at 1110, lower than it was at this time last year by just 77.

At the close of the week, there were seven fewer single-family homes than were available a week ago. Buyers currently see 681 active listings in this category, up 21 on a year-over-year basis.

Condo inventory slipped nine on the week to 360, down 117 annually.

The number of homes to have sold over the past 30 days fell by 14 to 303, this week.

Fewer active listings and weakening sales brought “months of inventory” (MOI) modestly higher on two of the three categories we track. Here’s what MOI looks like today.

All residential - 1110 active listings / 303 sales = 3.7 month supply (up 0.2 months from last week).

Single-family homes - 681 listings / 185 sales = 3.7 month supply (up 0.1 months from last week last week).

Condos - 360 listings / 100 sales = 3.6 month supply. (down 0.2 months from last week).

A couple of big dollar sales at the top of our list brought the average sale price of a Saskatoon home higher to $363,768 this week, even as the weekly median price remained stable at $340,000.

The six-week average price fell lower, now for the sixth consecutive week to $350,952. That’s lower annually by just over 25K.

Meanwhile, the four-week median price broke a nine-week losing streak as it grew by almost eleven thousand dollars from last week to $332,750. It’s down from a year ago by $32,500.

Last week, I asked the question, “Is overbidding a thing of the past?”

This week, we see absolutely zero homes selling for more than the seller’s asking price. Zero!

That’s the first time that has happened since the opening week on 2022. There were eight sales reported to have closed a sale at the listed price, while 47 of 55 residential sales reported a price below the seller’s asking price to generate an average discount of $12,231.

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. A description of the geographic boundaries of areas 1 through 5 is here.

More weekly stats and numbers for those who love them.

Follow me on Facebook and Instagram to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.

I’m always happy to answer your Saskatoon real estate questions. Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra

Saskatoon real estate week in review for October 22-28, 2022 (edition #816)

Sat, 29 Oct 2022 16:27:42 GMT

After falling to their lowest level since late January last week, Saskatoon home sales took a slight increase as the numbers grew by four to reach 69, down from 96 over the same period last year.

The new listing activity also saw a slight uptick as Saskatoon real estate agents added 157 residential properties to the MLS® system. That’s higher than the previous week by three and lower annually, also by three units.

Once again, canceled and expired listing numbers kept the inventory from growing, despite the large gap between listings and sales. We closed the week with 1125 active residential listings for a weekly drop of four and an annual decline of 135 units.

In the mix, we see 688 single-family homed for sale, up eight from last week, and higher than it was at the close if the same week last year by 28. Active condo listings in Saskatoon sit at 369 today, lower than last week by seven, and down 133 from this time last year.

The number of homes to have sold over the past 30 days continued to move lower, as we would expect at this time of year. Today, we can find 320 residential sales reported over 30 days.

Fewer active listings and weak sales brought “months of inventory” (MOI) modestly higher on two of the three categories we track. Here’s what MOI looks like today.

All residential - 1125 active listings / 320 sales = 3.5 month supply (up 0.1 months from last week).

Single-family homes - 688 listings / 192 sales = 3.6 month supply (up 0.3 months from last week).

Condos - 369 listings / 109 sales = 3.4 month supply. (down 0.1 months from last week).

The average sale price for the week slipped lower by a few thousand dollars to settle at $346,762 while the weekly median price grew six thousand dollars to reach $339,900.

The increase in the weekly median was not enough to break what is now a nine-week trend for the four-week median sale price. It fell again, this time shedding just $500 and finishing the week at $322,000. That’s down $32,500 annually.

The six-week average price fell lower for the fifth consecutive week as it lost about seven hundred dollars from last week’s close finishing the week at $352,472. That is lower on a year-over-year basis by just under 14K.

See my comments in last week’s review about what is impacting these two price measures.

The number of Saskatoon homes reported having sold for more than the asking price slipped to just three while the average overbid fell to $6,433. Additionally, only five sales reported a price at the asking price, Meanwhile, 61 of the week’s 69 sales were reported to have sold below the list price generating an average discount of $12,160.

More weekly stats and numbers for those who love them.

Follow me on Facebook and Instagram to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.

I’m always happy to answer your Saskatoon real estate questions. Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra

Saskatoon real estate week in review for October 15-21, 2022 (edition #815)

Sat, 22 Oct 2022 20:14:26 GMT

After two weeks of sales growth, Saskatoon home sales tumbled lower this week as local real estate agents reported just 65 firm sales to the multiple listing service®. That number marks a decline of 25 units compared to last week and it’s lower annually by 45. This isn’t a huge surprise, given the large number of sales posted over the previous two weeks, but still, it’s our weakest seven-day sales period since the third week of January.

Meanwhile, 154 new residential listings were added to the MLS® through the week, up 14 from last week and higher compared to the same period last year by eight.

Even with the huge disparity between sales and new listings, canceled and expired listings pushed the number of Saskatoon homes for sale lower for the fifth consecutive week. We finish this period with 1129 active listings, down 12 from last week’s close and lower on a year-over-year basis by 141.

Today, Saskatoon home buyers can find 680 single-family homes for sale, five fewer than last weekend, and up annually by seven. There are 376 condominiums for sale, down seven from last week’s close, and well lower than the 529 units that were for sale at this time last year.

The number of homes to have sold over the past 30 days saw a small upward bump as that measure grew to 334 from 330 the week before. This moved “months of inventory” (MOI) slightly lower across the broader market for the second week in a row, while it remained stable across the two major types of housing. Here’s what MOI looks like today.

All residential - 1129 active listings / 334 sales = 3.4 month supply (down 0.1 months from last week).

Single-family homes - 680 listings / 208 sales = 3.3 month supply (the same as last week).

Condos - 376 listings / 108 sales = 3.5 month supply. (the same as last week).

The luxury market remained quiet with just one sale posting a sale price above $650,000. With a third of all sales having sold below the quarter million dollar mark, the median price for the week remained low. It came in at $333,000. The weekly average grew modestly to $350,498.

Looking at prices over a bit of a longer term, we see the six-week median price edge lower for the fourth consecutive week. It closed the period at $353,080 down a bit more than 4K from last week and lower annually by more than seven thousand dollars. It’s now at its lowest point since late March of this year.

The four-week median price continued its downward slide, now for the eighth week in a row. It closes the week at $322,500 for a weekly drop of thirty-five hundred dollars and lower than it was a year ago by $38,500. This is its lowest point for any week since the third week of February in 2021 before the market ramped up for the spring. Again, this is a clear indication that the upper-end market has softened significantly, partly due to fewer options in the inventory, and further impacted by rising interest rates.

So, why are prices tumbling in what can still only be described as a seller's market? Let's break it down.

Home sales reported between September 1 and October 21 of this year are lower than they were over the same period last year by 23 percent.

Meanwhile, sales of homes with prices of $700,000 or more have fallen sharply. They're down 43 percent for the period.

More importantly, we see a massive increase in activity when it comes to sales of homes priced below $250,000. Even as sales across the broader market have slipped 23 percent, sales in the lower-priced category have spiked higher by 23 percent.

This shift is largely due to interest rate hikes and eroding affordability, and it's leading to lower average and median sale prices, even as the price of a specific property has hardly changed.

Once again, five lucky sellers managed to close a sale for more than they had been asking. Those sellers broke away with an average bonus of $10,834 but the bulk of the winnings went to two of the five sellers, while the other three saw a token overbid. Another eight homes attracted a full-price offer, while 52 of this week’s sales reported a price that was below the asking price by an average of $11,554.

More weekly stats and numbers for those who love them.

Follow me on Facebook and Instagram to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.

I’m always happy to answer your Saskatoon real estate questions. Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra

Saskatoon real estate week in review for October 8-14, 2022 (edition #814)

Sat, 15 Oct 2022 16:46:53 GMT

For the second week in a row, Saskatoon real estate sales rose, this week reaching 90 units. That’s their highest level in six weeks, up a dozen sales from last week and down just one when compared to sales for the same week the previous year.

Meanwhile, the number of new residential listings processed through our MLS® system slipped lower. This week, local agents added 140 Saskatoon homes to the system, down 14 from last week, and up annually by five.

The inventory of active listings fell lower for the fourth consecutive week. Today, there are 1141 Saskatoon homes showing an active status on the multiple listings service®, down 30 from last week, and lower annually by 177 units.

A closer look at the two major categories shows 685 houses for sale today, down 23 from last week, and 20 fewer than could be found a year ago. Additionally, there are 383 condos available to buyers, down eight from a week earlier, and way down from 528 last year.

Brisk sales this week, brought the number of Saskatoon homes to have sold over the most recent 30 days higher by three to 330. This moved “months of inventory” (MOI) modestly lower in two of the three categories we track.

All residential - 1141 active listings / 330 sales = 3.5 month supply (down 0.1 months from last week).

Single-family homes - 685 listings / 209 sales = 3.3 month supply (down 0.2 months from last week).

Condos - 383 listings / 146 sales = 3.7 month supply. (the same as last week).

Entry-level activity remained strong through the period and kept the median sale price for the week on the low side at $321,250. The weekly average sale price moved higher to $334,331 which is also considerably lower than what’s been typical for most of the year.

The six-week average price took its third consecutive weekly decline as it fell to $357,311. That’s down a bit more than 5K from last week and just twelve hundred dollars above the level recorded a year earlier.

The four-week median price declined for the seventh consecutive week as upper-end sales continue to fall. It closed the week at just $326,000. That’s lower on a weekly basis by 12K and down year-over-year by twenty-six thousand dollars.

The number of Saskatoon home sellers who closed a deal for more than they were asking remained steady at just five, while the average overbid took a big drop from more than 13K last week to just $4,284 this period. Another seven sales resulted in a full-price offer while 77 of the week’s 90 sales closed at a price below the list price by an average of $12,606.

More weekly stats and numbers for those who love them.

Follow me on Facebook and Instagram to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.

I’m always happy to answer your Saskatoon real estate questions. Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra

Canadian home sales soften again in September, 2022: CREA

Fri, 14 Oct 2022 17:07:20 GMT

The Canadian Real Estate Association (CREA) recently released national sales statistics for September of 2022.

"Home sales recorded over Canadian MLS® Systems fell by 3.9% between August and September 2022. From May through August, month-over-month declines have been progressively smaller. The September result marked a slight increase in the current sales slowdown that began with the Bank of Canada’s first rate hike back in March.

"While about 60% of all local markets saw sales fall from August to September, the national number was pulled lower by the fact markets with declines included Greater Vancouver, Calgary, the Greater Toronto Area (GTA) and Montreal.

"Breaking it down regionally, most of the recent monthly declines had been in markets across Ontario and, to a lesser extent, in B.C. The standout trend in August and September was that quite a few of those Ontario markets saw monthly price declines get stopped in their tracks, mainly in the Greater Golden Horseshoe. In a few markets prices even popped up a bit between August and September.

"Looking across the Prairies, prices in Edmonton and Winnipeg are down a bit from their peaks, while prices are sliding sideways in Calgary, Regina, and Saskatoon. Similarly in Quebec, prices have dipped in Montreal but are mostly flat in Quebec City."

Highlights of CREA's report

National home sales were down 3.9% on a month-over-month basis in September.
Actual (not seasonally adjusted) monthly activity came in 32.2% below September 2021.
The number of newly listed properties edged down 0.8% month-over-month.
The MLS^® Home Price Index (HPI) declined by 1.4% month-over-month but was still up 3.3% year-over-year.
The actual (not seasonally adjusted) national average sale price posted a 6.6% year-over-year decline in September.

Read the recently released national sales statistics for September, 2022.

Follow me on Facebook and Instagram to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.

I’m always happy to answer your Saskatoon real estate questions. Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra

Saskatoon real estate week in review for October 1-7, 2022 (edition #813)

Sat, 08 Oct 2022 17:21:51 GMT

Saskatoon home sales saw a small weekly bounce as local REALTORS® reported 78 residential sales to the multiple listing service®, up 10 from last week, but lower by 14 when compared to sales for the same week last year.

The new listing activity also pushed higher, this week growing by four units to reach 154. We closed the week well down annually. Over the same period last year, 200 Saskatoon homes were listed for sale on the MLS®.

After five weeks with very little change from one week to the next, the total number of Saskatoon homes showing an active status on the MLS® finally slipped lower. As of this morning, there at 1171 residential properties for sale within city limits, down 26 from last week’s close, and lower annually by 164 properties.

On the heels of a listing surge, last week, that produced to first year-over-year increase we had seen in the single-family homes category in close to two years, we closed this week with 708 Saskatoon houses for sale. That’s lower than last week by 22, and down two from where it stood a year ago.

Condo inventory slipped 14 from last week to 391, to close the week lower annually by 152 units.

The number of Saskatoon homes to have sold over the most recent 30 days fell modestly lower, this week closing at 327 units, down just two from last week. This pushed “months of inventory” (MOI) modestly lower in two of the three categories we track.

All residential - 1171 active listings / 327 sales = 3.6 month supply (the same as last week).

Single-family homes - 708 listings / 201 sales = 3.5 month supply (down 0.1 months from last week).

Condos - 391 listings / 106 sales = 3.7 month supply. (down 0.2 months from last week).

A surge in entry-level activity pushed the median sale price and the average sale price for the week sliding to their lowest levels this year. The median for the period was down 17K to $297,000. The average for the week took a huge tumble, falling more than 70K to just $323,283.

The six-week average price took its second consecutive decline, this week falling close to eleven thousand dollars to settle at $361,646. That is the lowest recorded number since the final week of March, but it’s still higher annually by about 5K.

The four-week median price continued to trend lower as it has been now for six weeks. It closed the period at $336,000. That’s lower than last week by nearly $7,000 and falls below the number recorded this same week last year by almost $4,000.

The number of homes that sold for a price greater than the listed price slipped lower to just five. Those five deals generated an average bonus of $13,150 thanks to one sale that was $35K above the asking price. Meanwhile, 67 deals were reported to have sold at less than the asking price by an average of $12,887.

More weekly stats and numbers for those who love them.

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I’m always happy to answer your Saskatoon real estate questions. Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra

Saskatoon real estate week in review for September 24-30, 2022 (edition #812)

Sat, 01 Oct 2022 17:38:15 GMT

Saskatoon real estate sales in the residential category slipped to their lowest point since mid-February this week. Local agents reported just 68 firm sales to the multiple listing service®, down six from last week, and lower annually by 31.

The new listing activity also continued to fall to settle at 150 for a weekly drop of 15. That’s 21 fewer homes than hit the MLS® over the same period last year, and it’s the smallest number of Saskatoon homes listed during any week since late February.

The inventory of active residential listings remained steady now for the fifth week in a row to create an unusual flatline on the listing chart which is normally slipping lower, fast, at this time of year. We finished the week with 1197 residential listings showing an active status, down just one from last week’s close, and lower on a year-over-year basis by 147.

The number of single-family homes for sale in Saskatoon grew by nine this week to close the week at 730. This marks the first week this year in which inventory actually grew on an annual basis in this category, which has consistently experienced serious lows, now for the better part of two years. There are 30 more houses showing as active on the MLS today than there were a year ago.

Condo inventory increased by two this week to 405 and finish the week lower on a year-over-year basis by 131 units.

The number of Saskatoon homes to have sold over the most recent 30 days continued to slip lower, as it does at this time of the year, this week dropping to 329, down 41 units from last week. This pushed “months of inventory” (MOI) significantly higher, and closer to “balance” in all three categories that we track. We will almost certainly be in balance in all three categories within the next two weeks.

All residential - 1197 active listings / 329 sales = 3.6 month supply (up 0.4 months from last week).

Single-family homes - 730 listings / 205 sales = 3.6 month supply (up 0.4 months from last week).

Condos - 405 listings / 104 sales = 3.9 month supply. (up 0.6 months from last week).

The median sale price for the week slipped lower to $340,000, while the weekly average sale price of a Saskatoon home took a large jump to $394,260 due to the three highest-priced sales for the week that averaged more than $1.25 million dollars each.

The six-week average price of a Saskatoon home took its first drop in a few weeks’ time as it slipped close to seven thousand dollars from last week to $372,195. That remains 17K higher than it was at the close of the same week last year.

Meanwhile, the four-week median price grew by a couple of hundred dollars to hit $344,750 which is up annually by just under fifteen thousand dollars.

In spite of softening demand and stable inventory, seven home sellers managed to close a deal for more money than they had been asking, but the average overbid tumbled by more than 60%. Those seven deals, on average, paid seller’s a bonus of $4,814.

There was just one sale that reported a “full price” transaction, while 60 of the week’s 68 transactions closed below the list price generating an average discount of $17,987.

It’s worth pointing out that this “discount” was significantly skewed higher by the top-dollar sale which went $350K below the list price. If you remove that single sale from the mix, the average discount is about twelve thousand dollars, which is more typical of what we’ve been seeing in recent weeks.

More weekly stats and numbers for those who love them.

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I’m always happy to answer your Saskatoon real estate questions. Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra

Saskatoon real estate week in review for September 17-23, 2022 (edition #811)

Sat, 24 Sep 2022 17:55:15 GMT

After falling to their lowest level since mid-February last week, Saskatoon real estate sales increased slightly to reach 74. That’s up two from last week and well down from the same week last year when 110 Saskatoon homes traded hands.

The new listing activity continued its downward trend falling 14 units on a weekly basis to settle at 165, which is higher annually by 35.

At a time of year when declines are typical, the inventory of available residential listings on the MLS® remained stable for the fourth consecutive week. There are currently 1198 Saskatoon homes showing an active status on the system, down just four from last week and lower on a year-over-year basis by 172 listings.

Single-family homes inventory grew by 10 this week reaching 721, which is just seven fewer options than could be found on the multiple listing service® at this time last year.

There are currently 403 condos for sale in Saskatoon, down four from last week and well down from 563 at this time last year.

The number of Saskatoon homes to have sold over the most recent 30 days continued to slip lower, as expected, this week falling by 17 units to 370. This pushed “months of inventory” (MOI) slightly higher in two of the three categories we track.

All residential - 1198 active listings / 370 sales = 3.2 month supply (up 0.1 months from last week).

Single-family homes - 721 listings / 226 sales = 3.2 month supply (up 0.2 months from last week, now for the second week in a row).

Condos - 403 listings / 124 sales = 3.3 month supply. (the same as last week).

The median sale price for the week slipped lower to $352,500, while the weekly average sale price of a Saskatoon home inched higher to reach $369,584.

The six-week average price continued to hover in the same range, now for the third week in a row. It’s currently at $379,018 which is up nearly 35K on an annual basis.

The four-week median price continued to fall lower for the fourth week in a row suggesting that the upper-end housing market is cooling more quickly than they are at the lower end. This measure came in at $344,500. That’s down from $359,900 last week but higher than it was at the close of the same week last year by more than $35,000.

I should note that at this time last year, a barrage of entry-level sales that persisted for a few weeks had pushed both the six-week average and the four-week median near its annual low. We should expect to see these year-over-year gains moderate in the weeks ahead.

The number of Saskatoon home sellers lucky enough to wrap a deal for more than they’d been asking grew from eight to nine while the average overbid amount increased modestly to $12,659. Larger gains were seen in the “sold at list price” category with 12 sales. The remaining 53 deals reported a price below the list price by an average of $12,312.

More weekly stats and numbers for those who love them.

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Norm Fisher

Royal LePage Vidorra

Saskatoon real estate week in review for September 10-16, 2022 (edition #810)

Sat, 17 Sep 2022 18:42:46 GMT

Saskatoon home sales fell lower for the second week in a row, this period settling at 72. That’s down 13 on a weekly basis, and shy of sales for the same week last year by 11. It’s the lowest number of sales for any week since mid-February.

A total of 179 Saskatoon real estate listings were added to the MLS® database this week, up five from last week but lower annually by seven.

The active listing inventory remained steady compared to last week with 1202 Saskatoon homes displaying an active status. The listing numbers are still well down from where they were last year at this time when 1412 residential properties were for sale.

Single-family homes inventory fell by two to 711 units for an annual drop of 40. Condo inventory grew by nine from last week to close this period at 407, which is lower on a year-over-year basis by 178.

“Months of inventory” (MOI) showed some modest growth in all three categories that we track as 30-day sales fell lower again, this week falling by 20 units to settle at 386. That’s the lowest number recorded since early March.

Here’s what MOI looks like in each of those three categories.

All residential - 1202 active listings / 386 sales = 3.1 month supply (up 0.1 months from last week).

Single-family homes - 711 listings / 241 sales = 3.0 month supply (up 0.2 months from last week).

Condos - 407 listings / 125 sales = 3.3 month supply. (up 0.1 months from last week).

A very active upper-end market pushed the weekly median price sharply higher to $360,500 even as the average sale price for the week slipped lower to $355,441.

Meanwhile, both of our longer-term measures took a small dip.

The four-week median price, saw its third consecutive weekly decline as it slipped lower to $359,900 to record a weekly drop of just over 5K, and an annual gain of nearly thirty-thousand dollars.

The six-week average price took its first decline after four weeks of growth. It slipped just over a thousand dollars from last week to finish up on a year-over-year basis by a little more than 25K.

For the second week in a row, just eight sellers wrapped up a deal for more than their asking price, but the average overbid more than doubled last week’s number as it hit $11,250. There were 59 of the week’s 72 sales reporting a price below the list price by $11,517 on average.

More weekly stats and numbers for those who love them.

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I’m always happy to answer your Saskatoon real estate questions. Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra

Canadian home sales post small drop from July to August, 2022: CREA

Thu, 15 Sep 2022 20:13:21 GMT

The Canadian Real Estate Association (CREA) recently released national sales statistics for August of 2022.

"Home sales recorded over Canadian MLS® Systems edged down a slight 1% between July and August 2022. While this was the sixth consecutive month-over-month decline in housing activity, it was the smallest of the six as the national sales slowdown triggered by rising interest rates continues to moderate.

"Breaking it down regionally, most of the monthly declines in recent months have been in markets across Ontario and, to a lesser extent, in British Columbia; however, in August it was Ontario markets that contributed most to the overall national decline.

"Looking across the Prairies, prices in Alberta appear to have peaked. Prices are still rising slightly in Saskatchewan, while Manitoba recorded the only decline. In Quebec, prices have dipped somewhat in the last couple of months. On the East coast, the softening of prices that had been confined to Halifax-Dartmouth is now also appearing in New Brunswick and Newfoundland and Labrador. By contrast, prices in PEI continue to edge ahead on a month-over-month basis."

Highlights of CREA's report

National home sales edged down 1% on a month-over-month basis in August.
Actual (not seasonally adjusted) monthly activity came in 24.7% below August 2021.
The number of newly listed properties dropped 5.4% month-over-month.
The MLS^® Home Price Index (HPI) edged down 1.6% month-over-month but was still up 7.1% year-over-year.
The actual (not seasonally adjusted) national average sale price posted a 3.9% year-over-year decline in August

Read the recently released national sales statistics for August of 2022

Follow me on Facebook and Instagram to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.

I’m always happy to answer your Saskatoon real estate questions. Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra

Saskatoon real estate week in review for September 3-9, 2022 (edition #809)

Sat, 10 Sep 2022 15:18:41 GMT

On the heels of a surge just last week, Saskatoon real estate sales fell lower by 16 units to settle at 85, enough to match the number of sales posted for the same week last year.

The new listing activity moved in the opposite direction growing by 15 on a weekly basis to reach 174 units. That’s 34 fewer Saskatoon homes that were offered up for sale during the same week last year.

Buoyed by the return of several residential listings that expired at the close of August, the active listing inventory on the Saskatoon MLS® took an upward turn as it grew by six to break the 1200 mark again. Today, there are 1202 Saskatoon homes for sale which is lower than the numbers recorded a year ago by 199.

A closer look by category shows 713 single-family homes for sale, up ten from last week’s close and lower annually by ten. Additionally, there are 398 condominiums showing an “active” status, That’s down by seven from last week’s close and lower on a year-over-year basis by 181.

“Months of inventory” (MOI) bounced higher in all three categories that we track and most of the declines recorded the previous week were erased as 30-day sales fell lower by 15 units and fell to 406. Here’s what MOI looks like in each of those three categories.

All residential - 1202 active listings / 406 sales = 3.0 month supply (up 0.2 months from last week).

Single-family homes - 713 listings / 259 sales = 2.8 month supply (up 0.2 months from last week).

Condos - 398 listings / 128 sales = 3.2 month supply. (up 0.2 months from last week).

Strong condo sales at price points below the quarter million dollar mark led to another reduction in the weekly median price. It slipped just under four thousand dollars to $331,000. Meanwhile, a growing percentage of total sales reporting a price above the half-million dollar mark pushed the weekly average sale price up a little more than 15K to $373,380.

The six-week average price headed for higher ground, now for the fourth consecutive week. During this period, it grew by a little more than four grand to $379,398 to finish the week up annually by twenty-four thousand dollars.

The four-week median price remained stable (down by just $17 from last week) at $364,983. That is higher on a year-over-year basis by $45,000.

The largest shift that occurred this week is seen in the “overbid” stats as just eight sales reported a price above the seller’s asking price. That’s roughly ten percent of total sales, compared to 17 percent the week before. Additionally, the average overboard amount fell sharply to just $4,987, down for more than 13K last week. This average was skewed higher by one sale that went over the seller’s asking price by $18,000.

For the second week in a row, we are also seeing a fairly sharp drop in the number of homes that sold for the full list price. Just seven sales were reported as full-price sales.

Meanwhile, 73 sales were reported to have sold below the list price generating an average discount of $12,007.

More weekly stats and numbers for those who love them.

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I’m always happy to answer your Saskatoon real estate questions. Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra

New TD report suggests Canadian home prices could fall 25% by spring while Saskatchewan prices rise

Sat, 03 Sep 2022 17:08:26 GMT

A new report released this week by TD suggests shows that Canadian home prices have been slipping rapidly in recent months and could fall as much as 25% by spring of next year.

However, declines are most significant in BC and Ontario and regional "nuances" could push prices higher in some areas, like Saskatchewan where prices are predicted to grow through Q1, 2023.

Read the full report from TD here.

Follow me on Facebook and Instagram to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.

I’m always happy to answer your Saskatoon real estate questions. Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra

Saskatoon real estate week in review for August 27 - September 2, 2022 (edition #808)

Fri, 02 Sep 2022 23:51:51 GMT

For the first time in four weeks, Saskatoon home sales moved back into triple-digit territory as local agents reported 101 firm residential sales. That’s up from 91 last week but it falls short of numbers generated over the same week last year by 15.

The new listing activity moved in the opposite direction as just 158 Saskatoon homes were offered for sale on the multiple listing service®. That number is down just four from the previous week, and higher annually by six.

For the second week in a row, the number of homes available in Saskatoon on the MLS® system fell lower, this week rather sharply, thanks to a good handful of listings that expired without a sale as August closed. Today, we have just 1196 active residential listings, down 73 from last week’s close, and lower than it was at this time last year by 186.

Among those listings are 703 single-family homes, down 25 from a week ago, and lower annually by 20. Additionally, the inventory shows 405 condominiums for sale, well down from 441 last week, and further down from 575 at this time last year.

Let’s take a look at “months of inventory” (MOI) which gives us a better understanding of the current supply and demand dynamic.

The number of homes to have sold in Saskatoon over the past 30 days nudged up by two from last week to 421. Together with a drop in active listings, months of inventory fell lower in the three categories we track.

All residential - 1196 active listings / 421 sales = 2.8 month supply (down 0.2 months from last week).

Single-family homes - 703 listings / 269 sales = 2.6 month supply (down 0.1 from last week).

Condos - 405 listings / 131 sales = 3.0 month supply. (down 0.3 months from last week).

With fewer than 20 sales reporting a price greater than $500K both the weekly average price and the weekly median price slipped lower to $358,214 and $334,900 respectively.

Meanwhile, the six-week average price took its third consecutive weekly increase as it rose just under a thousand bucks to reach $374,817 to take an annual gain of 20K.

The four-week median price, after growing for three weeks took a downward turn slipping just under a thousand dollars to settle at $365,000 which is up 40K from the same week last year.

This week, 17 Saskatoon homes sold for more than the seller’s list price by an average of $13,182 while 77 deals closed below the asking price with an average discount of $11,153.

More weekly stats and numbers for those who love them.

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I’m always happy to answer your Saskatoon real estate questions. Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra

Saskatoon real estate week in review for August 20-26, 2022 (edition #807)

Sat, 27 Aug 2022 14:38:18 GMT

Saskatoon real estate agents reported 91 residential sales to the multiple listing service® this past week, up from 85 the week before, and lower annually by five sales.

The new listing activity softened as just 162 Saskatoon homes were listed for sale, which is lower on a weekly basis by 14, and down from the same week last year by six.

After growing over the past two periods, the number of residential listings showing an active status on the MLS® system turned lower to 1269, down by 17 from the week before, and lower annually by 186.

As of the close of business Friday there were 728 single-family homes for sale, four fewer than the previous week’s close and lower annually by 51. Condo inventory had fallen to 441 for a weekly drop of 13 and an annual decline of 156.

Let’s take a look at “months of inventory” (MOI) which gives us a better understanding of the current supply and demand dynamic.

There have been 419 residential sales recorded through the multiple listing service® over the past 30 days. That’s down from 444 last week and is it the lowest level recorded since the week of March 12. This downward trend is normal. It’s a pattern that repeats every year. This number will continue to fall lower for the rest of the year.

All residential - 1269 active listings / 419 sales = 3.0 month supply (up 0.1 months from last week).

Single-family homes - 728 listings / 267 sales = 2.7 month supply (no change from last week).

Condos - 441 listings / 134 sales = 3.3 month supply. (up 0.4 months from last week, now higher for the third week in a row, and up a full month over those three weeks).

While MOI remains firmly in seller’s market territory we are seeing slow and steady improvements that appear to be taking us back in the direction of a more balanced environment.

With nearly a third of all sales being condos, both the weekly median price and the weekly average sale price of a Saskatoon home fell lower to $372,500 and $385,567 respectively.

The six-week average price grew for the second week in a row to reach $373,949. That’s up from the week before by $3,500 and higher than it was at the close of the same week last year by about 19K.

The four-week median price grew for the third consecutive week, this period reaching $365,950. This measure is up by a bit more than 14K on a weekly basis and higher annually by 30K.

The number of Saskatoon home sellers who managed to close a sale at a price that exceeded the asking price grew to 17, and the average overbid jumped to $13,917. Meanwhile, 71 sales were reported to have sold at a price that was below the list price by an average of $13,467.

More weekly stats and numbers for those who love them.

Follow me on Facebook and Instagram to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.

I’m always happy to answer your Saskatoon real estate questions. Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra

Saskatoon real estate week in review for August 13-19 2022 (edition #806)

Sat, 20 Aug 2022 17:19:22 GMT

Saskatoon real estate sales fell lower for the second consecutive week, this period dropping to 85, the smallest number of sales for any week this year since late February. That’s down seven units from last week and way below the 132 homes that sold over the same week last year.

Meanwhile, the new listing activity took an upward turn reaching 182 for a weekly gain of 12 and an annual decline of 49.

For the second week in a row, the inventory of Saskatoon real estate listings on the multiple listing service grew®, which is unusual for this time of the year. By the close of business on Friday, there were 1286 active residential listings on the system, up 20 from the previous week’s close, and down on a year-over-year basis by 169.

Most of the growth in the inventory was in the condo category which rose by 19 this week to reach 454, down 143 from a year ago. The number of detached houses available moved up to 732 on a weekly basis to finish down just 48 units from the same time last year.

The number of Saskatoon homes to have sold over the most recent 30 days fell again, this week to 444, the smallest number we’ve seen since the period beginning in late January when winter had us in its grip.

Here’s what “months of inventory” look like today.

All residential - 1286 active listings / 444 sales = 2.9 month supply (up 0.1 months from last week).

Single-family homes - 732 listings / 271 sales = 2.7 month supply (down 0.1 months from last week, thanks to a small increase in the 30-day sales figure).

Condos - 454 listings / 154 sales = 2.9 month supply. (up 0.3 months from last week, for the second time in two weeks).

A spike in upper-end activity led the weekly median price higher to $388,000 while the average price followed along and hit $430,537.

After sliding lower for five consecutive weeks, the six-week average price turned and headed for higher ground, this week growing by more than $6,000 to reach $370,548 and claiming an annual increase of 15K.

The four-week median price, which had also shifted substantially lower since early July, took its second weekly gain to hit $351,500. That amounts to an increase of $16,500 from last week and an annual gain of $15,000.

After sliding to just 12 last week, the number of homes that sold for more than the asking price grew to 16 with an average overbid of $8,494. On the flip side of the negotiating table, 59 Saskatoon homes were reported to have sold for less than the asking price by an average of $11,875.

More weekly stats and numbers for those who love them.

Follow me on Facebook and Instagram to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.

I’m always happy to answer your Saskatoon real estate questions. Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra

Canadian home sales slow further in July 2022: CREA

Mon, 15 Aug 2022 20:09:32 GMT

The Canadian Real Estate Association (CREA) recently released national sales statistics for July of 2022.

“Home sales recorded over Canadian MLS® Systems fell by 5.3% between June and July 2022. While this was the fifth consecutive month-over-month decline in housing activity, it was also the smallest of the five."

"Sales were down in about three-quarters of all local markets, led by the Greater Toronto Area (GTA), Greater Vancouver and the Fraser Valley, Calgary and Edmonton."

Highlights of CREA's report

• National home sales fell by 5.3% on a month-over-month basis in July.

• Actual (not seasonally adjusted) monthly activity came in 29.3% below July 2021.

• The number of newly listed properties dropped by 5.3% month-over-month.

• The MLS® Home Price Index (HPI) edged down 1.7% month-over-month but was still up 10.9% year-over-year.

• The actual (not seasonally adjusted) national average sale price posted a 5% year-over-year decline in July.

Read the recently released national sales statistics for July of 2022

Follow me on Facebook and Instagram to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.

I’m always happy to answer your Saskatoon real estate questions. Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra

Saskatoon real estate week in review for August 6-12, 2022 (edition #805)

Sat, 13 Aug 2022 17:12:12 GMT

This week, the number of Saskatoon homes reported sold to the MLS® came in below 100 units for the first time since early April. Saskatoon real estate agents processed just 92 firm residential sales, down from 102 the week before, lower annually by 21 sales.

The new listing activity took a similar turn as just 170 properties were added to the database of the multiple listing service®. This too was the smallest number of new listings added during any week since the first week of April. That is 14 fewer homes than were listed the previous week, and down from the same week last year by 60.

The disparity between sales and listing activity caused the inventory of active listings to move higher this week. By the close of business Friday, Saskatoon home buyers could find 1266 residential listings showing an active status on the MLS®. That’s higher by 18 on a weekly basis and lower annually by 205.

Condo inventory is taking the biggest hit. It did grow by 11 this period to 435, but it’s lower on a year-over-year basis by 173 units. Today, there are 730 single-family homes for sale through our system, the same number as last week, but down 55, when compared to the closing figures, recorded the same week last year.

The number of Saskatoon homes to have sold over the past 30-days, tumbled lower to 452, down from 474 last week.

Here’s what “months of inventory” look like today.

All residential - 1266 active listings / 452 sales = 2.8 month supply (up 0.2 months from last week).

Single-family homes - 730 listings / 265 sales = 2.8 month supply (up 0.1 months from last week).

Condos - 435 listings / 169 sales = 2.6 month supply. (up 0.3 months from last week).

A slightly increased level of sales activity at the market’s entry-level ushered the median sale price for the week lower to $344,450 while the average sale price remained steady at $366,659.

The six-week average price managed its fifth consecutive weekly decline as it moved lower by just under $1,000 to settle at $364,301. That’s still higher annually by about 6K but the year-over-year gains have been falling steadily since this measure took a downward turn in the first week of July.

The four-week median price, which had fallen lower for six weeks in a row took an upward turn this period as it grew nearly five thousand dollars from last week to hit $339,900. That’s down from where it stood at the close of the same week last year by just over three thousand dollars.

Perhaps the most notable shift can be seen in the falling number of sales that were reporting a sale price that was greater than the list price. This measure has been inching lower for several weeks. Last week, there were 20 overbids of the 102 sales (20%) reported. During this period, we see just 12 of 92 sales (13%) reporting a price that was above the asking price. The average overbid was just $8,647. Meanwhile, 69 sales reported a price below the seller’s asking price by an average of $14,432.

This is the first week I can remember this year that the average sale price fell below the average list price in all five of the major Saskatoon areas we report on.

We are still very clearly in a seller’s market in every category but I expect we will continue to inch closer to balance in the weeks ahead.

More weekly stats and numbers for those who love them.

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I’m always happy to answer your Saskatoon real estate questions. Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra

Saskatoon real estate week in review for July 30 - August 5, 2022 (edition #804)

Sat, 06 Aug 2022 15:16:59 GMT

Saskatoon home sales fell lower this period, dropping 17 units from last week to settle at 102, enough to top sales for the same period last year by 13.

The new listing activity also cooled significantly as it fell to levels not seen since late April when the spring market was just shifting into high gear. This week, Saskatoon real estate agents processed 184 new residential listings through the MLS®, down from 200 last week, and matching listing numbers for the same week last year.

For the second week in a row, the inventory of active Saskatoon real estate listings fell lower. The total number of Saskatoon homes showing an active status on the multiple listing service® fell to 1248 by the close of business Friday. Inventory reached its peak for the year two weeks ago at 1296 and now sits at 1248, for a weekly drop of 33 units, and an annual decline of 205.

Again, the hardest hit is the condo category which dropped 20 units from last week to 424. Last year at this time, there were 607 condos for sale. That’s a year-over-year decline of 30 percent.

Today, there at 730 houses displaying an active status, down two from last week, and lower annually by 38.

The number of Saskatoon homes to have sold over the past 30-day, remained steady this week at 474 units.

Here’s what “months of inventory” look like today.

All residential - 1248 active listings / 474 sales = 2.6 month supply (down 0.1 months from last week, and falling for the second week).

Single-family homes - 730 listings / 270 sales = 2.7 month supply (the same as last week).

Condos - 424 listings / 184 sales = 2.3 month supply. (down 0.1 months from last week).

A burst of activity at the upper end of the Saskatoon real estate market including two sales well above the million-dollar mark pushed both the weekly median price and the weekly average higher to $357,500 and $368,760 respectively.

Meanwhile, both of the longer-term measures we track continued to slip lower.

The six-week average price took its fourth consecutive drop to reach $365,156 its lowest level since late March. That’s down about 4K from last week but ahead annually by about three thousand dollars. The four-week median remained steady at $335,000 after falling lower for five consecutive weeks. That’s as low as it has been since the first week of February, and lower annually for the third week in a row. At this time, last year, this measure was coming in at $343,000.

Of the 102 homes that sold this past week, 20 of those listings were reported to have sold for more than the asking price. While the drops are slight, this segment has been slowly shrinking as a percentage of overall sales for several weeks. The average overbid was $14,280. Meanwhile, 71 sales reported a price of less than the asking price to generate an average discount of $11,092.

More weekly stats and numbers for those who love them.

Follow me on Facebook and Instagram to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.

I’m always happy to answer your Saskatoon real estate questions. Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra

Saskatoon real estate week in review for July 23-29, 2022 (edition #803)

Sat, 30 Jul 2022 16:14:19 GMT

After two weeks of declining sales, the Saskatoon real estate market saw a surge in activity that resulted in 119 firm home sales, up 17 from the previous week, and down from the same week last year by seven sales.

The number of new Saskatoon real estate listings added to the MLS® matched last week’s number at 200 units, which is higher annually by 31.

The number of Saskatoon homes currently listed for sale on the multiple listing service® fell lower this week to 1281. That is lower than the close of the previous week by 15, for the largest single-week decline this year. We currently have 172 fewer listings than were available to buyers a year ago.

Today, there are 732 single-family homes showing an active status on the system. That’s just down by one from last week and lower annually by 40. Condo inventory continues to hit new lows with just 443 active listings, down 20 from a week ago, and lower on a year-over-year basis by 173.

The number of Saskatoon homes to have sold over the past 30-day, after falling lower for two weeks grew by five to 474.

Here’s what “months of inventory” look like today.

All residential - 1281 active listings / 474 sales = 2.7 month supply (down 0.1 months from last week).

Single-family homes - 732 listings / 270 sales = 2.7 month supply (the same as last week).

Condos - 443 listings / 184 sales = 2.4 month supply. (down 0.2 months from last week).

With just 15 sales reporting a sale price above the half-million dollar mark, the average sale price for the week slipped again, this week dropping by a thousand dollars to $352,388. The weekly median price, meanwhile, came back for the 25-week low it hit last period and grew more than 20K to $329,900.

The six-week median price declined again, now for the third week in a row. It settled at $368,891 to reach it’s lowest point since the final week of March. It remains up on an annual basis by six thousand dollars.

The four-week median price declined for the sixth consecutive week thanks to a growing number of condo sales. It’s at $335,000 today, which is lower than it was last week by roughly $3,000 and down annually by $5,000.

The number of Saskatoon homes that were reported to have sold for more than the asking price slipped by one, in spite of the fact that sales were higher than the previous week by 17 percent. 22 Saskatoon home sellers closed on an offer that was $10,633 higher than their asking price, on average. Another 85 sales show a price below the list price with an average discount of $9,885.

More weekly stats and numbers for those who love them.

Follow me on Facebook and Instagram to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.

I’m always happy to answer your Saskatoon real estate questions. Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra

Saskatoon real estate week in review for July 16-22, 2022 (edition #802)

Sat, 23 Jul 2022 14:38:06 GMT

Saskatoon real estate sales slipped lower for the second week in a row, this time falling to 102, down just two from the week before, and lower by 23 sales when compared to activity over the same week last year. Having peaked with a seven-day sales period that nearly reached 150 just five weeks ago, the trend is both clear and typical for the season. From here, sales will bounce up and down from one week to the next, but the pattern will present as a slow steady decline until it bottoms out in December.

The new listing activity also slipped, now for the second consecutive week as it fell to 200 for a weekly drop of 28 and an annual increase of just two. We can expect the same pattern to unfold with new listings as sales.

Another clear trend is a growing number of active real estate listings. Most years, we are on the downward path by this time. This year, the number of Saskatoon homes for sale continues to grow, even as a full month of summer is behind us. The shift is subtle and modest but it looks to me that we are moving back towards normal levels that more closely match demand.

Over the past seven days, total inventory grew to 1296, a gain of just five from the previous week’s close, and down by 216 from where it stood a year ago. The single-family homes category grew by 23 listings to reach 733, down annually by 64 units. Meanwhile, condo numbers fell lower by 23 on a weekly basis, and down by 171 annually.

The number of Saskatoon homes to have sold over the past 30-day sales fell for the second consecutive week, this period declining by 17 units to 469. That’s our lowest number of 30-day sales since late March when the market was just starting to simmer.

Here’s what “months of inventory” look like today.

All residential - 1296 active listings / 469 sales = 2.8 month supply (up 0.1 months from last week).

Single-family homes - 733 listings / 272 sales = 2.7 month supply (up 0.3 months from last week and well up for the two-month supply recorded just a few weeks ago).

Condos - 463 listings / 179 sales = 2.6 month supply. (down 0.3 months to lose most of the large gains we saw in this category last week).

Condos take far longer than houses to build so this segment of the market is often out of balance with demand and either over-supplied or under-supplied. This category may continue to fall lower as the single-family segment moves higher.

As a percentage of total sales, condo units at the lower to mid-level markets continued to produce strong results which drove the median sale price for the week lower again, this week to $308,950. It has only been lower once this year. Still, with nearly 20 percent of the week’s sales topping the half-million-dollar mark, the weekly average price saw smaller declines as it settled at $353,346.

The six-week average price, now two weeks off its annual peak, fell lower for the second week in a row to $375,252. That’sdown from last week by almost nine thousand dollars and higher on a year-over-year basis by 13K.

The four-week median price took its fourth consecutive weekly drop, this period falling by more than thirteen thousand dollars to $337,875. That’s lower than it was at the end of the same week last year by about six thousand dollars. Again, a resurgent interest in condos has been driving that trend.

The number of Saskatoon home sellers lucky enough to close an offer for a price greater than their asking price remained stable at 23. The average overbid took an upward bounce to $15,107. On the flip side of the negotiating table, 69 closed sales required a bit of give from the seller. Those deals reported an average discount of $9,367.00.

More weekly stats and numbers for those who love them.

Follow me on Facebook and Instagram to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.

I’m always happy to answer your Saskatoon real estate questions. Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra

Saskatoon real estate week in review for July 9-15, 2022 (edition #801)

Sat, 16 Jul 2022 17:36:02 GMT

Often, when a market is shifting you start to see large bounces in the numbers from one week to the next. That appears to be happening now. This week, sales fell lower to 104, down 20 from last week. That is on par with the same week last year, and it takes us back to volumes that are more typical of the very early spring before things exploded.

New listing activity, which has certainly been trending lower over the past six to seven weeks remains relatively high. Saskatoon real estate agents added 228 homes to the MLS®, down four from last week, and higher than the same period last year by 25.

The inventory of Saskatoon real estate listings continued its slow push in an upward direction growing by 17 this week to reach 1291, lower by 226 on an annual basis. This is about the time that inventory should begin to fall lower.

In the mix, we have 710 single-family homes for sale, up 27 from last week’s close, and down on a year-over-year basis by 76. Condos inventory grew to 485, up by six from the previous week and lower than it was this time last year by 152.

After an unexpected bump to 544 last week, 30-day sales fell considerably lower to 486. With a bit of growth in active listings, we see some relief for buyers challenged to find a home.

Here’s what “months of inventory” look like today.

All residential - 1291 active listings / 486 sales = 2.7 month supply (up 0.4 months from last week and the largest upward shift we’ve seen this year).

Single-family homes - 710 listings / 299 sales = 2.4 month supply (up 0.4 months from last week and the largest upward shift we’ve seen this year).

Condos - 485 listings / 165 sales = 2.9 month supply. (up 0.4 months from last week and the largest upward shift we’ve seen this year).

Strong sales activity below the quarter million dollar mark helped bring both the weekly median and the weekly average sale price of a Saskatoon home lower to $336,625 and $361,280 respectively.

The six-week-average price fell off of its record higher dropping about twenty-five hundred dollars from last week to settle at $384,037. That leaves it higher annually by about 20K. The four-week median price took its third consecutive decline, this week slipping forty-five hundred dollars to $351,000. That’s the lowest it's been since early May but higher on a year-over-year basis by sixteen thousand dollars.

The number of Saskatoon homes that reported a sale price higher than the asking price fell to 24 from 32 the week before. The average overbid was $11,225, about 6K lower than the week before. Meanwhile, there were 71 sales reporting a price of less than the list price by an average of $11,356. That’s the first time that the average underbid was higher than the average overbid since spring.

More weekly stats and numbers for those who love them.

Follow me on Facebook and Instagram to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.

I’m always happy to answer your Saskatoon real estate questions. Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra

Canadian home sales fall lower in June 2022: CREA

Fri, 15 Jul 2022 14:34:22 GMT

The Canadian Real Estate Association (CREA) recently released national sales statistics for June of 2022.

“Home sales recorded over Canadian MLS® Systems fell by 5.6% between May and June 2022. Although larger declines were recorded in April and May, monthly activity has dropped to slightly below average levels for the month of June."

"Sales were down in three-quarters of all local markets, led by Canada’s biggest cities – the Greater Toronto Area (GTA), Greater Vancouver, Calgary, Edmonton, Ottawa and Hamilton-Burlington to name a few."

Highlights of CREA's report

National home sales fell by 5.6% on a month-over-month basis in June.
Actual (not seasonally adjusted) monthly activity came in 23.9% below the June record set in 2021.
The number of newly listed properties was up 4.1% month-over-month.
The MLS® Home Price Index (HPI) edged down 1.9% month-over-month but was still up 14.9% year-over-year.
The actual (not seasonally adjusted) national average sale price posted a 1.8% year-over-year decline in June.

Read the recently released national sales statistics for June of 2022

Follow me on Facebook and Instagram to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.

I’m always happy to answer your Saskatoon real estate questions. Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra

Saskatoon real estate week in review for July 2-8, 2022 (edition #800)

Sat, 09 Jul 2022 16:29:40 GMT

After falling to its lowest level since April last week, the Saskatoon real estate market saw sales rebound to 124 units for a weekly increase of 23 and an annual gain of 12 sales.

The new listing activity also took an upward bounce as 232 Saskatoon homes were listed for sale on the MLS®. That was higher than the previous week by 26, and pretty much on par with the new listing activity recorded over the same week last year.

The total number of homes for sale on the multiple listing service® in Saskatoon grew slightly this week as it increased by five properties to 1274 to finish lower on a year-over-year basis by 206.

Even while the total number of listings grew, available detached houses slipped lower to 683, for a weekly dip of eight and an annual drop of 76. Condo inventory fell to 479 from 486 the week before to finish down annually by 139 units.

After falling lower for two consecutive weeks, the number of Saskatoon homes to have sold over the past 30 days grew by ten this week to 544.

Here’s what “months of inventory” look like today.

All residential - 1274 active listings / 544 sales = 2.3 month supply (down 0.1 months from last week).

Single-family homes - 683 listings / 330 sales = 2.0 month supply (the same as last week).

Condos - 479 listings / 193 sales = 2.5 month supply. (down by 0.2 months from last week, due to a large spike in 30-day sales).

Sales activity was weighted slightly towards the upper end of the market causing the median sale price for the week to jump 25K to $361,450. At the same time, the weekly average increased more than nine thousand dollars to $381,863.

For the third time this year, the six-week average price reached a new weekly record as it hit $386,679. That’s up about $3,300 from last week, roughly five hundred dollars higher than the previous record, and higher annually by just over 20K.

The four-week median price fell lower from last week by nearly ten thousand dollars. It sat at $355,501 for the current period, $18,500 higher than it was a year ago.

The number of Saskatoon homes that sold for more than the seller’s asking price grew to 32 this week. The average overbid was $17,444 and the highest on record was $62,100. Meanwhile, 84 of the week’s 124 sales reported a sale price that was, on average, $9,835 below the asking price.

More weekly stats and numbers for those who love them.

Follow me on Facebook and Instagram to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.

I’m always happy to answer your Saskatoon real estate questions. Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra

Saskatoon real estate week in review for June 25 - July 1, 2022 (edition #799)

Fri, 01 Jul 2022 15:38:48 GMT

Saskatoon home sales dipped to their lowest level since the first week in April, thanks in part to a short week for the MLS®. A total of 101 properties switched from an active status to sold, down by ten from last week and lower annually by 25.

The number of new listings added to the multiple listing service® fell to its lowest number since the final week of April as just 206 new listings were added to the MLS®. That’s 32 fewer listings than were added the previous week but 54 more than came on the market over the same week last year.

Even with new listings more than doubling sales, the inventory of active MLS® listings fell slightly lower. A good handful of listings typically expire without a sale as the calendar brings a new month. A large number of canceled listings also helped bring active listings lower.

We finished the week with 1269 active residential listings, down just five from last week’s close, and lower on a year-over-year basis by 186.

The number of Saskatoon homes to have sold over the past 30 days inched lower for the second week in a row, this week falling by six to settle at 534.

Here’s what “months of inventory” look like today.

All residential - 1269 active listings / 534 sales = 2.4 month supply (the same as last week).

Single-family homes - 691 listings / 331 sales = 2.0 month supply (down 0.1 from last week. For the second week in a row, 30-days sales actually moved higher in this category).

Condos - 486 listings / 179 sales = 2.7 month supply. (up by 0.1 months from last week, thanks to a growing number of listings and fewer sales).

The median weekly price of a Saskatoon home plummeted to $337,500 as more entry-level buyers made a purchase. The average sale price also fell, but 17 sales above $500K kept the decline under $20K as it settled at $372,905.

After reaching a new record last week, the six-week average price slipped lower by just under three thousand dollars to $383,384. That’s up about $13K from the close of the same week last year.

The four-week median price which hit a new annual high of $365,425 last week also came down close to three thousand dollars to finish the week at $362,750. That’s higher annually by just under $14,000.

There were 26 homes that were reporting a sale price that was higher than the seller’s asking price this week. While lower for the second week in a row, overbid sales actually grew as a percentage of total sales. Those 26 homes averaged an overbid of $17,763 which is lower than last week by $4,500. Meanwhile, 65 of the week’s 101 sales were reporting a sale price that was below the list price by an average of $9,727.00.

More weekly stats and numbers for those who love them.

Follow me on Facebook and Instagram to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.

I’m always happy to answer your Saskatoon real estate questions. Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra

Saskatoon real estate week in review for June 18-24, 2022 (edition #798)

Sat, 25 Jun 2022 16:59:13 GMT

For the eighth consecutive week, Saskatoon real estate agents added more than 200 residential listings the multiple listing service®. This week, new listing numbers hit 238, a gain of ten from the previous period and just two units shy of what came on the market over the same week last year.

After reaching a new annual peak last week, the number of Saskatoon homes that saw a sold sign appear fell lower from 149 to 111 and finished down on an annual basis by 25 sales.

With strong new listing activity, weaker sales, and a very small number of expired listings, the number of Saskatoon homes for sale on the MLS® pushed to a new annual high of 1273 properties. That amounts to an increase of 51 listings, one of our larger weekly gains this year, but it still leaves us down on a year-over-year basis by 250 homes. This is about the time that active listing inventory normally reaches its annual peak most years.

The largest gains can be counted in the condo category which grew by 29 listings to reach 478, lower annually by 167. Available detached single-family homes rose by 13 to hit 696. That’s down 78 from the close of the same week last year.

The number of Saskatoon homes to have sold over the past 30 days fell off if its annual high reached last week, dropping 18 units to 540. This brought decent improvements to “months of inventory” in two of the three categories that we track.

All residential - 1274 active listings / 540 sales = 2.4 month supply (up 0.2 months from last week).

Single-family homes - 696 listings / 326 sales = 2.1 month supply (the same as last week. 30-day sales actually moved higher in this category offsetting inventory growth completely).

Condos - 478 listings / 183 sales = 2.6 month supply. (up by 0.4 months from last week. Even though condo inventory saw the smallest growth, 30-day sales fell by nearly ten percent causing the bump we see here).

With far fewer small condo sales in the mix this week, the median and average sale prices for the period shot higher to $388,000 and $391,288 respectively.

The six-week average price rose to its highest level ever this week as it hit $386,238. That’s just under three thousand dollars more than it was at last week’s close, and up annually by 20K. The four-week median price also reached an annual high as it grew a little more than $8,700 from last week to find itself up from where it sat at the close of the same week last year by more than $17,000.

The number of homes that sold for more than the seller’s asking price slipped lower to 32, down from 42 last week, while the average overbid reached a new high for the year at $22,175. The largest overbid this week was 115K which seems ridiculous given that the list price of the property was just $234,900 (that’s 49 percent above the list price). Another 66 sales reported a price below the asking price by an average of $10,640.

More weekly stats and numbers for those who love them.

Follow me on Facebook and Instagram to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.

I’m always happy to answer your Saskatoon real estate questions. Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra

Saskatoon real estate week in review for June 11-17, 2022 (edition #797)

Sat, 18 Jun 2022 15:39:40 GMT

Home sales reached their highest point for any week this year across this final full week of spring. Saskatoon real estate agents reported 149 firm residential trades, higher than the previous week by 26, and up annually by 38. This was just the fifth of 24 weeks this year that recorded some year-over-year sales gains.

After reaching an annual peak over the past two weeks, the new listing activity slipped lower as 228 home sellers put up a for sale sign. That’s lower by 18 when measured against the previous week and higher when compared to the same week last year by 37. This marks the third consecutive week in which new listings grew annually, something that has only occurred twice this year, prior to this run.

After nine weeks of slow but steady growth, the inventory of active Saskatoon real estate listings dipped lower as it dropped to 1223 from 1230 last week. At this time last year, there were 1493 Saskatoon homes showing an “active” status on the multiple listing service®.

A closer look by category shows 683 single-family homes for sale, up by ten compared to last week’s close, and lower than it was at the end of the same week last year by just 52 units. Meanwhile, condo numbers fell lower to 449, for a weekly drop of 19 and an annual dip of 203.

The number of Saskatoon homes that sold over the past 30 days grew again, this week hitting an all time high for the year of 558.

A decline in active listings and an increase in sales saw “months of inventory” deteriorate in all three categories that we track with condos seeing the largest change.

All residential - 1223 active listings / 558 sales = 2.2 month supply (down 0.1 months from last week).

Single-family homes - 683 listings / 322 sales = 2.1 month supply (down 0.1 months from last week).

Condos - 449 listings / 200 sales = 2.2 month supply. (down by 0.3 months from last week).

A huge week for condos, particularly units priced below $200K, brought the average and the median sale price for the week lower to $385,169 and $350,000 respectively.

After reaching a new record last week, the six-week average price inched down to $383,689. That’s lower than it was last week by about $500 and higher annually by twelve thousand dollars.

The four-week median price fell lower by $6,500 from the week before to settle at $355,000. That’s down by twelve hundred dollars, year-over-year..

The number of homes that were reported to have sold for more than the list price inched up to 43. On average, those deals paid the seller a bonus of $18,277 with the largest overbid coming in at $69,100. Meanwhile, 88 of the week’s 149 sales reported a price that was below the seller’s asking price by an average of $11,950.

More weekly stats and numbers for those who love them.

Follow me on Facebook and Instagram to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.

I’m always happy to answer your Saskatoon real estate questions. Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra

Canadian home sales continue to slow through May, 2022: CREA

Thu, 16 Jun 2022 14:35:10 GMT

The Canadian Real Estate Association (CREA) recently released national sales statistics for May of 2022.

“Statistics released today by the Canadian Real Estate Association (CREA) show national home sales were down in May 2022. Home sales recorded over Canadian MLS® Systems declined by 8.6% between April and May 2022. This built on a larger drop recorded in April, leaving monthly activity at pre-COVID levels recorded in the second half of 2019 and only slightly above the 10-year average."

"With interest rates on the rise, and with 5-year fixed rates getting well out ahead of what the Bank of Canada is expected to do later this year, home sales have cooled sharply in recent months. Prices have also been halted in their tracks following a record-setting five months of growth between October 2021 and February 2022."

Highlights of CREA's report

National home sales fell by 8.6% on a month-over-month basis in May.
Actual (not seasonally adjusted) monthly activity came in 21.7% below the May record set in 2021.
The number of newly listed properties was up 4.5% month-over-month.
The MLS® Home Price Index (HPI) edged down 0.8% month-over-month but was still up 19.8% year-over-year.
The actual (not seasonally adjusted) national average sale price posted a 3.4% year-over-year gain in May.

Read the recently released national sales statistics for May of 2022.

Follow me on Facebook and Instagram to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.

I’m always happy to answer your Saskatoon real estate questions. Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra

Saskatoon real estate week in review for June 4-10, 2022 (edition #796)

Sat, 11 Jun 2022 17:51:15 GMT

Encouraged by a continuing surge in new listing activity and soon-to-expire interest rate holds, Saskatoon home buyers wasted no time making deals. This past week saw 123 MLS® listings moving to a sold status, higher than the previous week by 17, and lower annually by 33.

For the second week in a row, the new listing activity remained at its annual peak. Saskatoon real estate agents brought 246 residential listings to the MLS® this period to match the previous week’s numbers and beat totals for the same week last year by 22.

As new listings doubled sales, the inventory of active MLS® listings broke the 1200 mark for the first time this year. This morning, there are 1230 properties displaying an active status, higher than a week ago by 56 units, and lower annually by 265.

Condo inventory saw the largest spike in numbers as they grew from 435 last week to 468 today. The number of detached single-family homes for sale in Saskatoon bounced to 673, up from 651 last week, and down from the close of the same week last year by 44.

After falling lower during our last two reports, the number of Saskatoon homes that sold over the past 30 days headed higher to 530 from 516 last week.

Even as listing numbers grew, this spike in sales left “months of inventory” unchanged in two of three categories.

All residential - 1230 active listings / 530 sales = 2.3 month supply (unchanged from last week).

Single-family homes - 673 listings / 304 sales = 2.2 month supply (unchanged from last week).

Condos - 468 listings / 186 sales = 2.5 month supply. (up by 0.2 months from last week).

With 32 Saskatoon home sales reporting a price above 500K, both the weekly average and median price pushed higher to $407,869 and $380,000 respectively.

The six-week average price reached a new high for the year; in fact, it’s higher than I’ve ever seen it at $384,183. That’s up just under 10K from last week, and higher annually by three thousand dollars.

The four-week median price also grew, this week reaching $362,000 for a weekly increase of ten thousand dollars and a year-over-year gain of roughly four thousand bucks.

Overbid activity remained fairly fierce this week with 42 sales reporting a price that exceeded the asking price by an average of $16,163. This week, I saw something I hadn’t ever seen before as one River Heights home priced at $379,900 sold for $517,000 (37 percent more than the list price). Meanwhile, 70 of the week’s 123 sales sold below the seller’s asking price by an average of $11,503.

More weekly stats and numbers for those who love them.

Follow me on Facebook and Instagram to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.

I’m always happy to answer your Saskatoon real estate questions. Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra

Saskatoon real estate week in review for May 28 - June 3, 2022 (edition #795)

Sat, 04 Jun 2022 16:49:17 GMT

After reaching an annual peak three weeks back, Saskatoon home sales fell lower for the second week in a row, this time dropping by three units to 106, well down from 132 when compared to sales for the same week last year.

Meanwhile, the new listing activity hit a new weekly high for the year as 246 home owners offered their property for sale on the Saskatoon MLS®. That’s up 37 units from last week to beat the previous strongest listing week by 23, and higher annually by 25.

Fewer sales and a spike in new listings allowed the inventory of active MLS® listings to grow, now for the eighth consecutive week. Today, buyers can find 1176 Saskatoon homes for sale on the multiple listing service®, up 27 from last week, and down annually by 347.

The number of single-family homes for sale reached 651 this week, up 26 units from the close of the previous week, and down by 79 on a year-over-year basis. Condo inventory closes the week at 435. That’s lower by just two from last week and down from where it stood at the close of the same week last year by 255.

The number of Saskatoon homes that sold over the past 30 days slipped lower this week, falling from 534 to 516 (this number peaked at 536 two weeks ago).

This past week, “months of inventory” grew in all three categories we track.

All residential - 1176 active listings / 516 sales = 2.3 month supply (up by 0.1 months from last week).

Single-family homes - 651 listings / 293 sales = 2.2 month supply (up 0.2 months from last week).

Condos - 435 listings / 189 sales = 2.3 month supply. (up by 0.1 months from last week).

A bit more sales activity at the upper end of the Saskatoon real estate market including two sales that added $2.65 million to the total dollar volume pushed the average and the median sale price for the week higher. They came in at $378,040 and $355,000 respectively.

In the meantime, the six-week average price fell off its peak and slipped about $600 from last week to settle at $374,439. That’s lower than it was at the close of the same week last year by $5500.

The four-week median price wrapped up the week at $352,000 which is lower on a weekly basis by three thousand dollars, and down annually by 5K.

This week, 38 lucky home sellers closed a deal for more than their asking price. That’s up from 28 last week, and below the annual peak, achieved two weeks ago by ten. Those deals reported a price that was, on average, $13,595 above the asking price. There were 13 sales reported to have sold for the full asking price, and 55 others that required some downward movement to complete a sale. Those homes averaged a discount of $11,598.

More weekly stats and numbers for those who love them.

Follow me on Facebook and Instagram to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.

I’m always happy to answer your Saskatoon real estate questions. Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra

Saskatoon real estate week in review for May 21-27, 2022 (edition #794)

Sat, 28 May 2022 16:28:56 GMT

After three weeks of growth culminating in a new annual peak, Saskatoon real estate sales fell lower to 109. That’s down from the previous week by 37 and lower annually by 28.

The new listing activity headed south for the second week in a row to 209, down from 218 last week, and lower on a year-over-year basis by 46.

The number of Saskatoon homes showing an “active” status grew again for the seventh consecutive week, adding ten from last week’s close reaching 1149. That’s 411 fewer residential listings than could be found on the MLS® at the same time last year.

The number of single-family homes for sale grew for the third week in a row. At the close of the first week of May, the total inventory in this category was just 535. It has since risen to 625 for a weekly increase of 28, and an annual decline of 78.

Condo inventory remained steady on a weekly basis with 437 options, down 272 units from this time last year.

Once again, “months of inventory” grew in two of the three categories we track.

All residential - 1149 active listings / 534 sales = 2.2 month supply (up by 0.1 months from last week).

Single-family homes - 625 listings / 304 sales = 2.0 month supply up 0.1 months from last week).

Condos - 437 listings / 195 sales = 2.2 month supply. (down by 0.1 months from last week).

With 30 sales reporting at a price below the quarter-million-dollar mark and just a handful of deals at a price above $600K, the weekly median and average prices fell lower to $337,450 and $334,770 respectively.

Still, the six-week average price managed a new peak for the year at $375,070. That’s higher than it was last week by about two thousand dollars and lower annually by just under five thousand dollars.

The four-week median price also edged up growing by $1250 from last week to hit $355,000. That’s lower than it was a year ago by close to 15K.

The number of home sales that were reported to have sold for more than the asking price fell sharply from 48 last week to just 28 this period. On average, those sellers saw a hefty bonus of $17,675. Meanwhile, 70 of the week’s 109 sales reported a price that was, on average, $9,941 below the list price.

More weekly stats and numbers for those who love them.

Follow me on Facebook and Instagram to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.

I’m always happy to answer your Saskatoon real estate questions. Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra

Saskatoon real estate week in review for May 14-20, 2022 (edition #793)

Sat, 21 May 2022 16:41:46 GMT

Saskatoon home sales grew for the third consecutive week to reach a new seven-day high for the year. Local agents reported 146 residential sales, which is higher weekly by 29 units, and up annually by 14. This is just the third of 20 weeks this year in which residential sales grew on a year-over-basis.

The new listing activity stayed above the 200 level for the third week in a row as 218 Saskatoon homes were added to the MLS®. That’s five fewer homes than hit the market last week, and it’s lower by 29 when compared to activity over the same week last year.

The inventory of active residential listings available on the multiple listing service® inched higher, now for the sixth consecutive week. As the week wrapped up, home buyers had 1139 properties to choose from, up 25 from last week’s close and down annually by 382 (25%).

All of the growth was in the single-family homes category. The final tally of detached homes available at the end of the week was 597, which is up 31 from last week and lower annually by 112 (16%). Condo inventory fell lower by 12 units to settle at 437 for an annual drop of 266 units, a 38 percent decline.

After falling lower for the past three weeks, 30-day sales spiked higher and broke the 500 mark for the first time this year. Saskatoon real estate agents have reported 536 homes sold over the past 30 days, up from 418 last week.

Once again, “months of inventory” grew in two of the three categories we track.

All residential - 1139 active listings / 536 sales = 2.1 month supply (down by 0.2 months from last week).

Single-family homes - 597 listings / 319 sales = 1.9 month supply (same as last week).

Condos - 437 listings / 190 sales = 2.3 month supply. (down by 0.4 months from last week).

Luxury home buyers were out big last week with the top four sales averaging a price well above one-million dollars each. Consequently, both the weekly median and the weekly average took large jumps to $363,400 and $390,816 respectively.

After four weeks of stability, the six-week average price moved up and reached a new high for the year at $373,089. That’s up by about four grand from last week but falls short of last year’s number by six thousand dollars.

The four-week median price pushed higher by roughly two thousand dollars on a weekly basis, this period reaching $353,750. That number is also lower annually by just a bit more than six thousand dollars.

For the second week in a row, the number of Saskatoon homes that sold for more than the asking price reached a new annual high. During this period, 48 sellers closed their sales with an average overbid of $14,623. Meanwhile, 76 homes sold for less than the asking price to generate an average discount of $13,625.

More weekly stats and numbers for those who love them.

Follow me on Facebook and Instagram to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.

I’m always happy to answer your Saskatoon real estate questions. Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra

Canadian home sales fall lower as interest rates skyrocket: CREA

Mon, 16 May 2022 15:09:32 GMT

The Canadian Real Estate Association (CREA) recently released national sales statistics for April of 2022.

“Home sales recorded over Canadian MLS® Systems dropped by 12.6% between March and April 2022. The decline placed monthly activity at the lowest level since the summer of 2020."

“Following a record-breaking couple of years, housing markets in many parts of Canada have cooled off pretty sharply over the last two months, in line with a jump in interest rates and buyer fatigue,” said Jill Oudil, Chair of CREA. “For buyers, this slowdown could mean more time to consider options in the market. For sellers, it could necessitate a return to more traditional marketing strategies. Of course, there are significant regional differences, so your best bet is to contact your local REALTOR®."

Highlights of CREA's report•

• National home sales dropped by 12.6% on a month-over-month basis in April.

• Actual (not seasonally adjusted) monthly activity came in 25.7% below the monthly record set in 2021.

• The number of newly listed properties was down 2.2% month-over-month.

• The MLS® Home Price Index (HPI) edged down 0.6% month-over-month but was still up 23.8% year-over-year.

• The actual (not seasonally adjusted) national average sale price posted a 7.4% year-over-year gain in April.

Read the recently released national sales statistics for April of 2022.

Follow me on Facebook and Instagram to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.

I’m always happy to answer your Saskatoon real estate questions. Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra

Saskatoon real estate week in review for May 7-13, 2022 (edition #792)

Sat, 14 May 2022 14:59:40 GMT

In step with a growing number of new Saskatoon real estate listings, sales grew for the second week in a row, this period reaching 117 for a weekly increase of four and an annual decline of 16.

Local REALTORS® added 223 new residential listings to the MLS® system, the largest number we’ve seen any week this year. That’s up just three from last week, which saw a sudden and significant spike. Still, that’s 43 fewer listings than we’d seen over the same week last year.

At the close of business Friday, the number of Saskatoon homes for sale on the multiple listing service® had grown to 1114 as it took its largest gains since early February. We finished the week with 54 more active listings than we had a week earlier, but well down from levels recorded at the close of the same week last year when 1489 properties showed as “active” on the system.

The single-family homes category saw a good spike as available detached houses grew by 31 to 566, down from 697 a year ago. Saskatoon condos for sale remained steady on a weekly basis at 449 but fell annually by 245 units.

30-day sales continued to fall lower, now for the third consecutive week. During this period, that measure came down by ten to 481.

Once again, “months of inventory” grew in two of the three categories we track.

All residential - 1114 active listings / 481 sales = 2.3 month supply (up by 0.1 months from last week).

Single-family homes - 566 listings / 296 sales = 1.9 month supply (same as last week).

Condos - 449 listings / 164 sales = 2.7 month supply. (up by 0.2 months from last week).

Nearly 30 sales below the quarter-million-dollar mark helped usher the median sale price for the week lower to $343,250. The average sale price fell as well to $373,397.

The six-week average price took its third weekly decline, this week losing a bit more than a thousand dollars as it settled at $369,150. That’s lower than it was a year earlier by about eleven thousand dollars.

Meanwhile, the four-week median price took some small gains as it grew by fifteen hundred dollars to $351,500. That’s down from the close of the same week last year by more than 30K thanks, at least in part, to a growing number of sales of entry-level condos.

The number of Saskatoon homes that sold for more than the list price spiked higher to 36, up by ten from last week, while the average overbid amount grew almost three thousand dollars to $18,192. The 68 homes that sold for less than the seller’s asking price saw an average discount of $9,450.

More weekly stats and numbers for those who love them.

Follow me on Facebook and Instagram to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.

I’m always happy to answer your Saskatoon real estate questions. Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra

Saskatoon real estate week in review for April 30 - May 6, 2022 (edition #791)

Fri, 06 May 2022 23:29:47 GMT

This week, Saskatoon real estate sales saw a small upward bounce growing by seven to reach 113, to finish lower than the same week last year by 20 units.

The new listing activity reached its highest point for any week this year as 220 home sellers offered their homes for sale on the MLS®. That’s up 46 from last week, but down 73 listings on an annual basis.

The number of homes for sale in the Saskatoon MLS® grew for the fourth consecutive week. By the close of business Friday, total inventory was at 1060, for a weekly gain of 27, and an annual drop of 377 homes.

In the mix, we have 535 single-family homes, down two from last week’s close, and lower annually by 144. Available Saskatoon condos for sale grew from 423 last week to 449 to finish the week lower on a year-over-year basis by 223.

30-day sales fell lower for the second week in a row, falling by just one compared to the previous period to settle at 491.

“Months of inventory” grew in two of the three categories we track.

All residential - 1060 active listings / 491 sales = 2.2 month supply (up by 0.2 months from last week).

Single-family homes - 535 listings / 287 sales = 1.9 month supply (same as last week).

Condos - 449 listings / 183 sales = 2.5 month supply. (up by 0.1 months from last week).

After a bit of a break last week, activity in the Saskatoon luxury home market took an upward bounce that pushed both the weekly median price and the average sale price substantially higher. Those measures reached $365,000 and $388,433 respectively.

The six-week average remained stable for the third week in a row, It sits at $370,279 which is about 5K lower than it was at the close of the same week last year.

The four-week median price fell lower from last week by almost 13K. It closed the week at $350,000 which is lower than it was for the same week last year by twenty thousand dollars.

This week, the number of Saskatoon homes that sold over the asking price slipped lower to 26. On average, those homes saw an average overbid of $15,287. Meanwhile, 68 sales were reporting a sale price that was below the seller’s asking price by an average of $12,329.

More weekly stats and numbers for those who love them.

Follow me on Facebook and Instagram to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.

I’m always happy to answer your Saskatoon real estate questions. Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra

Saskatoon real estate week in review for April 23-29, 2022 (edition #790)

Sat, 30 Apr 2022 20:14:04 GMT

On the heels of our second strongest sales week this year, Saskatoon real estate sales fell lower to 106, down from 124 last week and down annually by 24. So far this year, sales have fallen lower on a year-over-year basis in 14 of 17 weeks.

The number of homes listed for sale in on the Saskatoon MLS, meanwhile, has slipped lower annually in all but one week this year. This week, local REALTORS® added 174 Saskatoon homes to the MLS® database. That’s down just three from last week but lower than the same week last year by 49.

It’s no surprise that the inventory of active MLS® listings grew just modestly. As of this morning, Saskatoon home buyers could find just 1033 Saskatoon homes for sale, for a gain of eight units from last week’s close, and down on a year-over-year basis by 336 units.

Over the course of the last 52 weeks, we’ve seen single-family homes inventory tumble from 652 to 537 today. The number of condos for sale has fallen further from 642 to just 423.

After months of continuous growth, 30-day sales reached a new peak last week of 498, and then fell lower to 492 units this week.

“Months of inventory” was unchanged in two of the three categories we track.

All residential - 1033 active listings / 492 sales = 2.0 month supply (the same as last week).

Single-family homes - 537 listings / 289 sales = 1.9 month supply (up by 0.1 months from last week and growing for the second consecutive week).

Condos - 423 listings / 178 sales = 2.4 month supply. (same as last week, and at levels not seen since 2008).

With far less activity in the luxury home market, both the weekly median price and the average price fell lower to $345,200 and $349,179 respectively.

The six-week average price slipped off of its annual peak this week as it fell by about a thousand dollars to settle at $370,642 which is up a little more than four grand from the close of the same week last year.

The four-week median price continued on its upward path and grew by just under four thousand dollars from last week to reach a new annual high of $362,867. That’s lower than it was at this time last year by thirty-six hundred dollars.

This week, the number of Saskatoon homes that sold over the asking price remained steady at 31, in spite of sales slipping 15 percent overall. On average, those sellers saw a bonus of $17,142 with the largest overbid coming in at whopping 80K.

Meanwhile, 58 of the week’s 106 sales sold for less than the asking price by an average of $10,169.

More weekly stats and numbers for those who love them.

Follow me on Facebook and Instagram to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.

I’m always happy to answer your Saskatoon real estate questions. Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra

Saskatoon real estate week in review for April 16-22, 2022 (edition #789)

Sat, 23 Apr 2022 17:09:04 GMT

Saskatoon real estate sales gained ground for the second week in a row reaching 125 firm trades for a weekly gain of 21 units, and an annual decline of 16.

The new listing activity slipped lower by two compared to last week. Local REALTORS® added 177 residential properties to the MLS® this week, down 46 when compared to listing activity over the same week last year.

Sales have declined on an annual basis in 13 of the 16 weeks that have passed so far this year. Year to date, we are at 1408 sales, down roughly 11 percent from last year. Meanwhile, new listing activity is at 2342 for the year, lower than last year by 18 percent.

The number of active real estate listings reached a new high for 2022 at 1025. That’s up 18 units from last week’s close, and down by 25 percent from this date last year when there were 1365 residential listings showing an “active” status on the system.

In the mix, we see 526 single-family homes, up 11 from a week earlier and down from 621 (down 15 percent) a year ago. Condo inventory is at 429 for a weekly increase of 4 and an annual loss of 232 (down 35 percent annually).

30-day sales made some modest gains again growing to 504 from 498 last week.

“Months of inventory” was unchanged in two of the three categories we track.

All residential - 1025 active listings / 504 sales = 2.0 month supply (the same as last week).

Single-family homes - 526 listings / 297 sales = 1.8 month supply (up by 0.1 months last week).

Condos - 429 listings / 178 sales = 2.4 month supply. (down 0.1 months from last week, and a new low not seen since 2008).

With fewer sales at the entry level price points the median price for the week bounced higher to $358,750 while a large number of luxury homes pushed the average price for the week up sharply to $380,909.

The six-week average price continued on an upward trajectory and reached its highest point for the year at $370,937. Still, that’s lower annually by about $700. The four-week median saw an increase of two grand from last week to settle at $359,000. That’s actually down annually by almost 12K.

This week, sales reporting a price that was greater than the seller’s asking price reached a new high for the year at 31. Those properties averaged an overbid of $18,319 which I believe to be the highest average for any week this year. Another 78 deals closed at less than the asking price by an average of $12,615.

More weekly stats and numbers for those who love them.

Follow me on Facebook and Instagram to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.

I’m always happy to answer your Saskatoon real estate questions. Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra

Canadian home sales ease in March, 2022 after February Surge: CREA

Wed, 20 Apr 2022 16:05:01 GMT

The Canadian Real Estate Association (CREA) recently released national sales statistics for March of 2022.

“Statistics released today by the Canadian Real Estate Association (CREA) show national home sales and newly available listings both retreated in March 2022 after having jumped briefly higher in February."

“Home sales recorded over Canadian MLS® Systems fell back 5.4% between February and March 2022. The decline puts activity back in line with where it had been since last fall.

Sales were down in about half of local markets in March, led by declines in the Greater Toronto Area (GTA) and Calgary.

The actual (not seasonally adjusted) number of transactions in March 2022 came in 16.3% below the all-time record set in March 2021. That said, as has been the case since last summer, it remains the second-highest level on record for that month "

Highlights of CREA's report

National home sales fell back by 5.4% on a month-over-month basis in March.
Actual (not seasonally adjusted) monthly activity came in 16.3% below the all-time sales record set in March 2021.
The number of newly listed properties was down 5.5% month-over-month.
The MLS® Home Price Index (HPI) rose 1% month-over-month and was up 27.1% year-over-year.
The actual (not seasonally adjusted) national average sale price posted an 11.2% year-over-year gain in March.

Read the recently released national sales statistics for March of 2022.

Follow me on Facebook and Instagram to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.

I’m always happy to answer your Saskatoon real estate questions. Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra

Saskatoon real estate week in review for April 9-15, 2022 (edition #788)

Sat, 16 Apr 2022 00:49:00 GMT

Saskatoon real estate sales activity remained subdued this week. Unit sales numbers did cross back into triple-digit territory, but just barely. Local REALTORS® reported 104 Saskatoon homes sold this week, up by eight from last week, but lower annually by 25.

The new listing activity grew modestly on a weekly basis by 21 units. The tally for the week came in at 179 which is significantly lower than the numbers generated over the same week last year when 241 Saskatoon home sellers offered a home for sale on the multiple listing service®.

The inventory of active listings reached its highest point for 2022 with 1007 listings displaying an active status on the MLS®. That’s an increase of 21 from last week, sadly one of our largest weekly increases this year. At this time last year, buyers had 1355 active listings to choose from, which hardly seemed like enough at the time.

Single-family homes inventory saw a good bounce as it grew by 38 to reach 515, down 106 from last year. Condos inventory fell lower by 11 on a weekly basis to settle at 425. That’s down 236 units from this time last year.

30-day sales grew once again but continued to show signs that we may be reaching the peak (these numbers should grow through May, but with weak inventory that seems unlikely unless something turns quickly). Like the previous week, the measure grew by just four to 498.

“Months of inventory” was unchanged in two of the three categories we track.

All residential - 1007 active listings / 494 sales = 2.0 month supply (the same as last week).

Single-family homes - 515 listings / 291 sales = 1.7 month supply (same as last week).

Condos - 425 listings / 180 sales = 2.4 month supply. (down 0.1 months from last week, and a new low not seen since 2008).

Exceptionally strong condo sales, particularly those priced at the lower end of the spectrum helped usher both the median and the average sale price for the week lower to $311,950 and $345,565 respectively.

After pushing higher for several consecutive weeks both of our longer-term measures fell lower.

The six-week average price closed the week at $369,112. That’s just $800 shy of where it stood last week, and it’s lower annually by about two thousand dollars.

The four-week median price slipped four grand from last week to $357,000 and also closed the week lower on a year-over-year basis by three thousand dollars.

The number of homes that sold for more than the seller’s asking price fell by five to 24. Those deals reported a sale price that was, on average, $10,500 above the asking price. Meanwhile, 67 of the week’s 104 sales closed below the listed price generating those buyers an average discount of $9,608.

More weekly stats and numbers for those who love them.

Follow me on Facebook and Instagram to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.

I’m always happy to answer your Saskatoon real estate questions. Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra

Saskatoon real estate week in review for April 2-8, 2022 (edition #787)

Sat, 09 Apr 2022 17:09:59 GMT

After four weeks of triple-digit sales, and a new unit sales record for the 2022 year, Saskatoon home sales took a dive falling 43 units from last week to just 98, for an annual decline of 15 sales.

The new listing activity also slipped lower falling to 158 for a weekly loss of 19 listings and a year-over-year decline of 67.

Wow!

Why the sharp drop in new listing activity from last year? Here’s my best guess.

You’ve heard of “pent-up demand.” That phrase is typically used to describe a glut of home buyers who were sidelined from entering the market for any reason. In this market, I think we had some pent-up desire to sell that had been curbed by market changes. We saw that get released over the past year.

After reaching a new peak in 2014, Saskatoon home prices began to decline in 2015. Over the next few years, they fell quite a bit and continued to do so until they began to level off in late 2019. Falling prices trapped people who might have otherwise sold sooner, except that they were in a negative equity position. As prices began to rise, many of those homes were put on the market, with the largest portion of them coming back in 2021. While there are some apartment condos still well underwater, for the most part, much of that inventory has now been sold.

With far fewer homes being offered for sale this year, the inventory of available MLS® listings in Saskatoon is struggling to make gains. In fact, we’ve seen declines over the past two weeks, albeit modest. This is, however, a time of year that we expect big gains, so it’s a frustrating situation for everyone, except perhaps, home sellers.

This week, the inventory fell by just one unit to 986, way down from 1306 (a 35 percent drop) at this time last year.

In the mix today, there are 477 single-family homes for sale in Saskatoon, down ten from last and lower annually by 118 units. Condo inventory is at 436 today, up by five from last week’s close, but down by 207 units from where we stood a year ago.

30-day sales grew again but at a more modest pace. In fact, they grew by just two units from last week to 494.

“Months of inventory” was unchanged from last week in all three categories we watch.

All residential - 986 active listings / 494 sales = 2.0 month supply (the same as last week).

Single-family homes - 477 listings / 289 sales = 1.7 month supply (same as last week).

Condos - 436 listings / 1723 sales = 2.5 month supply. (same as last week).

There was just slightly more activity in the lower-priced half of the market this week which brought the median sale price and the average sale price for the week lower to $363,950 and $372,889 respectively.

The six-week average price reached a new high for the year for the second week in a row. It finished the week up by roughly $4,500 and reached $369,923, for an annual increase that came close to matching the weekly gain.

The four-week median price grew for the third consecutive week, and also reached a new high for this year at $361,000. That’s higher than it was last week by six grand and $9,250 annually.

Overbid sales grew to 29, which is, without any doubt, the highest percentage of sales to go for more than the seller’s asking price for any week this year. On average, those homes attracted an offer that was $15,293 above the listed price. Meanwhile, 55 deals closed below the asking price with an average discount amounting to $9,866.

More weekly stats and numbers for those who love them.

Follow me on Facebook and Instagram to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.

I’m always happy to answer your Saskatoon real estate questions. Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra

Saskatoon real estate week in review for March 26 - April 1, 2022 (edition #786)

Fri, 01 Apr 2022 03:48:00 GMT

It was another banner week for the Saskatoon real estate market as we recorded our fourth consecutive week of growing sales and reached a new weekly high for the 2022 calendar year. Local REALTORS® reported a total of 141 Saskatoon homes sold, up 27 from the previous week, and ahead of sales for the same period last year by eight.

The new listing activity was up by 14 from last week to reach 177 but still fell well below what was added to the system over the same week last year when 214 homes were offered for sale.

After reaching a new annual high above 1000 last week, the inventory of active MLS® listings slipped lower to 987. That makes for a drop of 17 from last week’s close and an annual decline of 273 units.

Today, we have 487 single-family homes offered for sale, down 13 on a weekly basis and lower annually by 74. Condo inventory sits at just 431 today for a weekly decline of 18 and an annual dip of nearly 200 units.

30-day sales continued to grow, this week growing by 43 to reach 492.

“Months of inventory” fell further into seller’s market territory in all three of the categories that we track.

All residential - 987 active listings / 492 sales = 2.0 month supply (down 0.2 months from last week).

Single-family homes - 487 listings / 287 sales = 1.7 month supply (down by 0.2 months from last week).

Condos - 431 listings / 172 sales = 2.5 month supply. (down 0.3 months from last week and again, now at its lowest point in more than a decade).

Upper-end sales continued to drive the market and pushed the median price for the week higher to $373,000, even as the average sale price slipped lower to $378,439.

The six-week average price grew for the second week in a row coming close to its previous high for the year. It closed the week at $365,382. That’s higher by about a thousand dollars on both a weekly and an annual basis. Meanwhile, the four-week median price took a larger jump growing by $7500 from last week to reach $355,000. That’s up just three hundred dollars from where it finished the same week last year.

Overbid sales reached 27 this week with an average overbid of $9,786. Another 87 sales closed below the asking price by an average of $10,581.

More weekly stats and numbers for those who love them.

Follow me on Facebook and Instagram to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.

I’m always happy to answer your Saskatoon real estate questions. Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra

Saskatoon real estate week in review for March 19-25, 2022 (edition #785)

Sat, 26 Mar 2022 18:59:41 GMT

For the third consecutive week, Saskatoon real estate sales remained in triple-digit territory, a sign that the spring market is underway. Over the past seven days, local REALTORS® reported 114 Saskatoon homes sold to the multiple listing service®, a new weekly high for this year. That’s up from 102 the week before but short by 20 when compared to activity recorded over the same week last year.

The number of new listings added to the MLS® fell even more. Just 163 listings hit the market this week. That’s 22 fewer listings than we saw the previous week, and down by nearly 50 from the same period last year.

For the first time this year, active listing inventory broke the 1,000 unit mark, but just barely as it grew by just seven units from last week’s close reaching 1,004. That’s lower by 250 from the close of the same week last year.

In the mix, there are 495 single-family homes. That’s the same as last week’s numbers, and lower annually 50, or nearly ten percent. There are also 449 condos for sale in Saskatoon, up from 440 a week earlier, but sharply lower than the 635 units that were for sale a year ago.

30-day sales continued on an upward swing, this week growing by 38 to reach 449.

“Months of inventory” fell further into seller’s market territory in all three of the categories that we track.

All residential - 1,004 active listings / 449 sales = 2.2 month supply (down 0.2 months from last week).

Single-family homes - 495 listings / 260 sales = 1.9 month supply (down by 0.2 months from last week to steal back all of the gains that we saw last week).

Condos - 449 listings / 158 sales = 2.8 month supply. (down 0.2 months from last week and I believe at its lowest point in years, likely more than a decade).

A growing number of sales at the upper end of the market pushed the median sale price for the week higher to $344,000. With 15 sales reporting a sale price above 600K, including two that topped the million-dollar mark, the weekly average price grew by nearly $50,000 to hit $396,799.

After falling lower last week, the six-week average price grew by more than seven thousand dollars. It closed the week at $364,376 which left it down annually by $1,000.

The four-week median price headed higher as well, by just $2,500 on a weekly basis. It’s also lower than it was at the close of the same week last year, but by substantially more ($9,000).

In this week’s sales mix, we see 16 sales that reported a sale price that exceeded the list price by an average of $12,500. Buyers managed to make off with a bit of a discount on 84 of the week’s 114 sales. Those deals were reporting prices that were, on average, $12,000 below the asking price.

More weekly stats and numbers for those who love them.

Follow me on Facebook and Instagram to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.

I’m always happy to answer your Saskatoon real estate questions. Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra

Saskatoon real estate week in review for March 12-18, 2022 (edition #784)

Fri, 18 Mar 2022 03:48:00 GMT

For the second week in a row, Saskatoon home sales remained in triple-digit territory as local agents reported 102 firm sales to the MLS®. That number is down from last week by six, but well below sales volume recorded over the same week last year when 141 homes were sold.

Meanwhile, the number of new listings that were added to the multiple listing service® reached a new high for the year at 185. That’s up from 154 last week, and down from 227 for the same period last year.

Once again, the total number of homes offered for sale on the Saskatoon MLS® system remained below 1000. At the close of business Friday, 997 Saskatoon homes were listed as “active” on the system. That said, the inventory grew by 41 units from last week, which is the largest single-week gain since early February. Year-over-year losses continue to grow. We are now down 215 units from where inventory stood at this time last year.

30-day sales made their first showing above the 400 mark after growing steadily for the past eight weeks. This week, that number grew from 392 to 411. Interestingly, 30-day sales in the single-family homes category slipped lower by three units from last week. Meanwhile, condo sales spiked by 16.

“Months of inventory” remained stable across the broader market, while available supply of single-family homes grew, and the supply of condominiums continued its rapid downward spiral.

All residential - 997 active listings / 411 sales = 2.4 month supply (the same as last week).

Single-family homes - 495 listings / 235 sales = 2.1 month supply (Up 0.2 months from last week).

Condos - 440 listings / 146 sales = 3.0 month supply. (down 0.3 months from last week).

A huge week for condo sales brought the weekly median sale price and the average sale price lower to $330,500 and $350,503 respectively.

That was enough to bring the largest changes to the longer-term measures that we track in weeks.

The six-week average price fell more than $6,000 to finish the week at $356,757. For the first time this year (and in fact the first time since late September of last year), the six-week average fell lower annually by almost $7,000.

The four-week median price fell by close to 5K from the previous week and also finished lower on a year-over-year basis. It’s lower annually for the second week in a row, this week by fifteen thousand dollars.

The number of sellers who were lucky enough to complete a sale at a price that exceeded the listing price slipped from 17 last week to 16. The average overbid grew to $11,251, thanks in part to one deal that closed $45,000 above the asking price. Another 66 sales went for less than the seller’s asking price by an average of $10,647.

More weekly stats and numbers for those who love them.

Follow me on Facebook and Instagram to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.

I’m always happy to answer your Saskatoon real estate questions. Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra

Canadian homes sales grow in February, 2022: CREA

Wed, 16 Mar 2022 14:01:14 GMT

The Canadian Real Estate Association (CREA) recently released national sales statistics for February of 2022.

“Statistics released today by the Canadian Real Estate Association (CREA) show national home sales were up in February 2022 as buyers jumped on the first batch of spring listings."

“Home sales recorded over Canadian MLS® Systems climbed 4.6% between January and February 2022. The monthly increase

in activity was likely the result of a rebound in new listings in February following big a decline in January. As such, stronger activity may persist as late-February new listings continue to sell in March.

Sales were up in about 60% of local markets in February, led by some big jumps in Calgary and Edmonton, as well as a gain ahead of the national increase in the GTA.

Highlights of CREA's report

• National home sales rose 4.6% on a month-over-month basis in February.

• Actual (not seasonally adjusted) monthly activity came in 8.2% below the record February in 2021.

• The number of newly listed properties bounced back by 23.7% month-over-month.

• The MLS® Home Price Index (HPI) rose a record 3.5% month-over-month and was up a record 29.2% year-over-year.

• The actual (not seasonally adjusted) national average sale price posted a 20.6% year-over-year gain in February.

Read the recently released national sales statistics for February of 2022.

Follow me on Facebook and Instagram to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.

I’m always happy to answer your Saskatoon real estate questions. Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra

Saskatoon real estate week in review for March 5-11, 2022 (edition #783)

Sat, 12 Mar 2022 16:53:18 GMT

Saskatoon real estate sales entered triple-digit territory for the first time this year as local REALTORS® reported 108 homes as firmly sold to the multiple listing service®. That amounts to an increase of 17 sales compared to the previous week, and it’s also higher than numbers recorded over the same period last year by 13. This is just the second week this year that sales have grown on an annual basis.

With fewer expired listings re-entering the MLS than last week, the new listing activity did fall lower from 168 to 154. That’s down annually by 23. So far this year, new listing activity has declined across all but two weeks.

The inventory of active listings on the MLS® grew modestly, now for the third consecutive week. By the close of business Friday, there were 956 listings showing an “active” status on the system, up by 14 from the close of the previous period, but down by 204 units (18%) when compared to levels recorded a year ago. Ouch! That year-over-year decline is growing each week.

The largest drops are in the condo category which shows 427 listings today, three more than last week but lower annually by 188. We have 460 single-family homes today, down one from the previous week’s close, and down 35 on a year-over-year basis.

30-day sales took a large leap forward this week reaching 392, up from 350 last week.

“Months of inventory” fell significantly lower in all three categories that we monitor.

All residential - 956 active listings / 392 sales = 2.4 month supply (down 0.3 months from last week).

Single-family homes - 460 listings / 238 sales = 1.9 month supply (down 0.3 months from last week).

Condos - 427 listings / 130 sales = 3.3 month supply. (down 0.2 months from last weekk).

A slightly higher number of sales towards the lower end of the market brought the median sale price for the week lower by roughly 17K to $348,740 even while the average sale price moved higher by about $23,000 to $371,209.

Both longer-term price measures remained stable, now for the fourth consecutive week.

The six-week average price finished the period at $363,204. That’s up from a week ago by less than $600 and higher annually by $8,000. The four-week median price is at $349,900, exactly where it was the week before, but now down from where it stood a year ago by just over 10K. This is most likely due to growing demand in the condo market where lower-priced homes are more common.

The number of sellers who managed to close a sale at a price that was higher than their list price grew to 17, while the average overbid fell lower to $7,371. This week, 72 buyers were able to negotiate a deal that was, on average, $14,341 below the asking price.

More weekly stats and numbers for those who love them.

Follow me on Facebook and Instagram to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.

I’m always happy to answer your Saskatoon real estate questions. Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Vidorra