Comments on: Saskatoon real estate week in review: January 25-29 2010 http://teamfisher.com/saskatoon-real-estate-week-in-review-january-25-29-2010/ We're bringing Saskatoon real estate to life Tue, 07 Feb 2012 19:41:41 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Saskatoon real estate week in review: January 24-28, 2011 | TeamFisher.com http://teamfisher.com/saskatoon-real-estate-week-in-review-january-25-29-2010/#comment-3752 Saskatoon real estate week in review: January 24-28, 2011 | TeamFisher.com Sun, 30 Jan 2011 02:38:15 +0000 http://www.teamfisher.com/?p=5940#comment-3752 [...] Following a two week slide, new listings on the Saskatoon multiple listing service® took an upward turn as agents brought 103 single-family homes and condominiums to the market to record a gain of five compared to the previous week, but up forty-five units when compared against the same week last year. [...] [...] Following a two week slide, new listings on the Saskatoon multiple listing service® took an upward turn as agents brought 103 single-family homes and condominiums to the market to record a gain of five compared to the previous week, but up forty-five units when compared against the same week last year. [...]

]]> By: Jeremy http://teamfisher.com/saskatoon-real-estate-week-in-review-january-25-29-2010/#comment-3751 Jeremy Wed, 03 Feb 2010 22:03:41 +0000 http://www.teamfisher.com/?p=5940#comment-3751 Ah, gotcha, I should have remembered that from high school math. That makes more sense. Ah, gotcha, I should have remembered that from high school math. That makes more sense.

]]> By: Norm Fisher http://teamfisher.com/saskatoon-real-estate-week-in-review-january-25-29-2010/#comment-3750 Norm Fisher Tue, 02 Feb 2010 22:37:58 +0000 http://www.teamfisher.com/?p=5940#comment-3750 Hi Jeremy, I see where you're coming from. Medians are different than averages and are not typically skewed so severely by a couple of sales at the high or low end. The "median" is the price point at which half of all sales occur above and half of all sales occur below. If you're working with a group of unit sales (say 999 units) the median value is found in the 500th sale if they were ordered from least expensive to most expensive. Throw in a 1,000,000 sale at the top, or a 10,000,000 sale at the top and it only has the effect of making the median the 501st sale. Either sale, even though one is nine million higher than the other, have the same impact on the median (probably not much). This is a bit of a challenge to explain. Hopefully it's not murder to understand. :) Hi Jeremy,

I see where you’re coming from.

Medians are different than averages and are not typically skewed so severely by a couple of sales at the high or low end. The “median” is the price point at which half of all sales occur above and half of all sales occur below. If you’re working with a group of unit sales (say 999 units) the median value is found in the 500th sale if they were ordered from least expensive to most expensive. Throw in a 1,000,000 sale at the top, or a 10,000,000 sale at the top and it only has the effect of making the median the 501st sale. Either sale, even though one is nine million higher than the other, have the same impact on the median (probably not much). This is a bit of a challenge to explain. Hopefully it’s not murder to understand. :)

]]> By: Jeremy http://teamfisher.com/saskatoon-real-estate-week-in-review-january-25-29-2010/#comment-3749 Jeremy Tue, 02 Feb 2010 21:38:17 +0000 http://www.teamfisher.com/?p=5940#comment-3749 Because it's too random. If someone happens to sell a 3 million dollar house in the third quarter suddenly Saskatoon is unafforable with a median house price of over 1.5 million when just as easily the highest selling house could have been one million in those three months, and now the median is just over 500,000. I think you may have mentioned in the past that even ave. house price can be misleading. Wouldn't ave price per square foot the most accurate way to get a quick snapshot of a market? Because it’s too random. If someone happens to sell a 3 million dollar house in the third quarter suddenly Saskatoon is unafforable with a median house price of over 1.5 million when just as easily the highest selling house could have been one million in those three months, and now the median is just over 500,000.
I think you may have mentioned in the past that even ave. house price can be misleading. Wouldn’t ave price per square foot the most accurate way to get a quick snapshot of a market?

]]> By: Norm Fisher http://teamfisher.com/saskatoon-real-estate-week-in-review-january-25-29-2010/#comment-3748 Norm Fisher Mon, 01 Feb 2010 19:50:44 +0000 http://www.teamfisher.com/?p=5940#comment-3748 "Using the median does not seem to me to be a very reliable or usefull way to measure affordability." Why not? Affordability is all about income vs. housing costs. “Using the median does not seem to me to be a very reliable or usefull way to measure affordability.”

Why not? Affordability is all about income vs. housing costs.

]]> By: Jeremy http://teamfisher.com/saskatoon-real-estate-week-in-review-january-25-29-2010/#comment-3747 Jeremy Mon, 01 Feb 2010 18:10:29 +0000 http://www.teamfisher.com/?p=5940#comment-3747 Regarding "saskatoon housing 'seriously unaffordable'". Using the median does not seem to me to be a very reliable or usefull way to measure afforability. The centre's affordability index is calculated by taking the median house price — the exact mid-point between the highest priced and lowest priced house sold in the third quarter — and dividing it by media annual gross income. Regarding “saskatoon housing ‘seriously unaffordable’”. Using the median does not seem to me to be a very reliable or usefull way to measure afforability.

The centre’s affordability index is calculated by taking the median house price — the exact mid-point between the highest priced and lowest priced house sold in the third quarter — and dividing it by media annual gross income.

]]> By: Norm Fisher http://teamfisher.com/saskatoon-real-estate-week-in-review-january-25-29-2010/#comment-3746 Norm Fisher Mon, 01 Feb 2010 13:09:06 +0000 http://www.teamfisher.com/?p=5940#comment-3746 Hey Peter, Interesting point. There is some lag time between an offer being written and a sale becoming final, making it into these reports. Most of the sales reported this week likely started during the previous week. Any blips from the bad weather are more likely to show up in this week's numbers. Hey Peter,

Interesting point. There is some lag time between an offer being written and a sale becoming final, making it into these reports. Most of the sales reported this week likely started during the previous week. Any blips from the bad weather are more likely to show up in this week’s numbers.

]]> By: Peter http://teamfisher.com/saskatoon-real-estate-week-in-review-january-25-29-2010/#comment-3745 Peter Sun, 31 Jan 2010 19:23:58 +0000 http://www.teamfisher.com/?p=5940#comment-3745 Pretty incredible sales numbers given the weather we had last week. I thought with the snowstorm sales would be down significantly. Pretty incredible sales numbers given the weather we had last week. I thought with the snowstorm sales would be down significantly.

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