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A closer look at the Saskatoon real estate statistics for July 2008

After two months of sluggish sales in the Saskatoon real estate market, demand picked up some in July. Total unit sales of condominiums and houses came in behind July 2007 numbers (411 units), but slightly higher than sales in 2005 (340) and 2006 (337), and up just over 10% compared to June, which closed with 299 sales. Average prices in this category didn’t fair as well, falling nearly $19,000 from their peak of $313,109 to settle at $294,306. Year-over-year, prices in this category were up nearly 20% from $245,306. Average days on the market increased from 21 days in June to 30 days in July.

Saskatoon real estate statistics for July 2008

Any loss to unit sales can be attributed to the “houses” category as record level prices curbed demand. Unit sales fell to 228, up from 212 in June, but down significantly from July 2007 when 315 houses traded hands. The average price of a Saskatoon house remained up about 27% over July 2007 when prices reached $253,446, but slid from nearly $340,000 in June to $322,715 in July. The average cost per square foot of a Saskatoon house dropped $9.00 through July when compared to last month.

Saskatoon real estate stats for July 2008

Remarkably, condo sales for the month of July reached 111 units, up from 87 in June and actually beating July of 2007 when 96 condos traded. Prices took a fairly significant slide dropping to $235,952 from $248,681 last month, and up just 6.5% from $221,495 in July 2007. The average cost per square foot in the condo category increased $5.00 suggesting that the units that traded were smaller on average than those that sold in June.

Saskatoon real estate stats for July 2008


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Norm Fisher
Royal LePage Vidorra

Norm Fisher, TeamFisher

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.
 

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