CONTACT

A closer look at the Saskatoon real estate statistics for April 2007

March was crazy. April was absolutely insane! I’ve never seen anything like it and neither had some of the old-timers in this business who have been around forever.


Buyers went after the property like another house would never be built and bidding wars reached new heights. By the end of the month, about 80% of Saskatoon homes were being sold at, or above the list price. Through most of the month, the average overbid topped $20,000. A lot of homes sold for $30,000-$50,000 above the asking price, many without any conditions at all.



The average price of a Saskatoon home (condos and single-family detached homes combined) surged further forward to a record-breaking $224,845, up from $203,065 the month before. Average days on the market plummeted to an unheard of 9 days.


The largest gains were seen in houses where the average selling price moved from $208,124 last month to an almost unbelievable $234,406.


104 Saskatoon condos traded hands with an average selling time of only 7 days. The average selling price hit $193,866, and an increase of just $4,500 from last month. Condos had seen a disproportionate increase during March when the average selling price increased more than $30,000.


Such massive changes are difficult to fathom over a short period of time. Agents are somewhat clueless on how to advise their clients, and buyers seem absolutely determined to sew up a deal, almost indifferent to the cost and somewhat reckless as well. Buyer, or seller, we should all be hoping that some of this steam comes off soon. Too much, too fast can often be a bad thing.


I’m always happy to answer your Saskatoon real estate questions. 


Norm Fisher

Royal LePage Vidorra

Norm Fisher, Author of the TeamFisher Saskatoon Real Estate Blog

About Norm

Licensed in 1993, Norm brings a wealth of experience to TeamFisher. He has worked in every imaginable capacity including sales agent, office manager, team leader, broker and now, broker/owner. Norm has written a weekly review of the Saskatoon real estate market for more than 650 consecutive weeks which may make him the most consistent industry blogger in the world.Less...

Licensed in 1993, Norm brings a wealth of experience to TeamFisher. He has worked in every imaginable capacity including sales agent, office manager, team leader, broker and now, broker/owner. Norm has written a weekly review of the Saskatoon real estate market for more than 650 consecutive weeks which may make him the most consistent industry blogger in the world.

Norm is known for his passion for technology and can most often be found exploring and experimenting with the next big thing in real estate marketing. He was the first Saskatoon real estate agent to promote a home online and has been an early adopter of new technologies ever since. “Everything about this business has changed over the past 20 years, and it will happen again in the next ten. An open mind and a curious attitude are all that’s needed to continue to find new ways to serve our clients by delivering a faster, smoother, worry-free transaction,” says Norm.

In his spare time, Norm enjoys Crossfit and cycling, some years accumulating over 2,000 kilometres on the road. He’s a strong supporter of the Royal LePage Shelter Foundation and enjoys raising funds by joining fun, fitness-related initiatives like the Grouse Grind for Shelter. In 2015, he trekked the Peruvian Andes to Machu Picchu. In 2017 he walked the southern highlands of Iceland across mountains, sand, snow, ice, lava fields and forest for seven days. Collectively those initiatives raised over a million dollars for Canadian women's shelters.
 

Subscribe to our Blog

Posts By Date
The Saskatchewan REALTORS® Association (SRA) (SRA) IDX Reciprocity listings are displayed in accordance with SRA's MLS® Data Access Agreement and are copyright of the Saskatchewan REALTORS® Association (SRA).
The above information is from sources deemed reliable but should not be relied upon without independent verification. The information presented here is for general interest only, no guarantees apply.
Trademarks are owned and controlled by the Canadian Real Estate Association (CREA). Used under license.
MLS® System data of the Saskatchewan REALTORS® Association (SRA) displayed on this site is refreshed every 2 hours.
Google Analytics Alternative