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Saskatoon real estate: Week in review (July 6-10 2009)

Saskatoon real estate sales continued along at an impressive pace with ninety-one homes being reported as firm sales to the Saskatoon MLS system. Unit sales were up over the previous week by just two, but increased by sixteen compared to the same week last yearwhen seventy-five properties changed hands.


New listings of single-family detached houses and condominiums took a dip falling to one hundred and three properties, down from one hundred and nineteen last week, and sharply lower than the one hundred and seventy-six homes which were offered for sale during the same period last year.


Click the image for a larger version of the graph.


Total active residential listings took another slide, falling twenty units on a week-over-week basis to finish at 1322, nearly ten percent lower than they were at this time last year when the residential inventory reached 1461.




Active residential listings for the Saskatoon real estate market at July 10 2009



Fifty-six home sellers adjusted their asking price this week while another twenty-two canceled and relisted their property, most at a new price.


A good run on higher end homes including two houses that sold above $800,000 pushed the average selling price for the week sharply higher to $300,899, up more than $30,000 from last week. The six-week average also edged higher to finish at $281,537, up just $1300 from last week, but about $26,000 lower than it was this week last year when it reached its peak for 2008 at $307,696. The four-week median increased a little more, up $4,200 from the week before to $276,500, but down from $289,950 at this time last year.


Click the image for a larger version of the graph.


The average underbid grew from $11,393 last week to $14,262. An average discount of 4.5% puts us on the higher side of what we typically see from one week to the next, but this isn’t unusual during weeks when a higher percentage of the sales are in the $400,000 and higher category. A total of fifteen homes traded above 4400K this week.




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.


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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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