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A closer look at the Saskatoon real estate statistics for December, 2007

Note: The graphics in this post were updated on January 6, 2008 to reflect the final sale numbers as reported by agents for December, 2007. The graphics show the final figures while the commentary reflects the statistics as they had been reported as of the date of the original post.





On average, it took an additional 4 days to find a buyer in December but as the supply of Saskatoon real estate listings dwindled towards year end, prices inched higher. The average selling price of a home in our city increased about $4,000 from $257,915 in November to $261,707 in December (condos and single-family detached homes). Unit sales saw a large decline to 193 units compared to 281 in November, but were still well ahead of December, 2006 when just 128 condos and houses sold in Saskatoon, at an average price of $186,389.


Interestingly, Saskatoon houses took a significantly larger jump from last month to an average selling price of $272,791 from $261,233. While total inventory levels were up when compared to December of 2006, at least half of the available homes were condominiums so we actually had fewer single-family homes as active listings than we did last December.


A bit of a surplus in the condominium category gave buyers more options and more leverage to negotiate a better deal. Average selling times increased to 33 days, compared to 28 in November and average selling prices came down substantially to just $236,533 from $247,721 in November. I think this is a trend we can expect to continue because, as I’ve said before, condo price increases have been too far ahead of the rest of the market. They’re up 64% over December of 2006, when the average selling price of a Saskatoon condo was just $144,363.


See a Google map displaying the boundaries of Saskatoon real estate “areas” here Data collection and calculation for our statistical reports


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

All of my contact info is here. Please feel free to call or email.


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.
 

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