The first month of 2007 showed signs that the Saskatoon real estate market will likely continue to feel pressure resulting from unusually high demand and a sadly low supply of good homes for sale. 233 houses and condos changed hands, up from just 134 units in December. In spite of the hectic activity, the average selling price of a Saskatoon home (condos and single-family detached houses combined) actually declined slightly from $186,389 to $183,971.
All of the declines in Saskatoon’s average selling price can be attributed to the category of single-family detached houses which dipped to $190,652 in January from their peak of $199,255 in December. The decline doesn’t really serve as an indicator that prices are going down, rather an absence of a few larger high-end sales which were present in the December stats.
Condos, on the other hand, took a massive jump forward on the price scale leaping from an average of $144,363 in December to $161,279 in January. This particular market is showing some real strength. It seems that consumers are feeling strongly that prices will rise and they’re willing to pay a hefty price in the condo market for what still feels like an affordable home. These units also appear to be a target of out of province investors looking to place money in Saskatchewan.
I’m always happy to answer your Saskatoon real estate questions.
Norm Fisher Royal LePage Vidorra
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.
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