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Saskatoon house prices show mixed results for Q4, 2014: Royal LePage


The Royal LePage House Price Survey and Market Survey Forecast released today showed mixed year-­over-­year results in the major housing types surveyed.


There was strong price appreciation in several major categories, including standard two­-storey homes, which increased by 5.9 per cent to $401,750, and condominiums, which increased 4.0 per cent to $275,333. Detached bungalows bucked the positive trend, with the average price decreasing 2.2 per cent to $359,000.


“This will be a record year in Saskatoon for the number of units sold, and the second year in a row where we have seen activity well above historical averages,” said Norm Fisher, broker and owner, Royal LePage Vidorra. “The market as a whole has been clipping along with very strong demand, largely based on a robust local economy and positive employment picture.”


“Demand for two­ storey homes has been especially strong in Saskatoon, including quite a few new builds, which is partially responsible for the significant increase in average prices in that category,” added Fisher.


Royal LePage is forecasting stable prices as demand for homes eases. “After two very strong years where we saw buoyant activity and moderate price appreciation, we expect that Saskatoon’s market will revert to historical averages in 2015. We are ending the year with a high level of inventory available, which suggests a competitive environment for sellers in the year ahead.”


Fisher expects that the price of oil and interest rates will have an influence on the housing sector in 2015. “A prolonged depression in oil prices or a spike in interest rates are the biggest threats to the real estate market in the year ahead, as they could hurt the overall economy and labour market or affect the affordability of homes,” Fisher said.


Read also: Global News - 2015 housing prices should remain stable: Royal LePage

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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