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Saskatoon real estate: Week in review (May 25-29 2009)

The Saskatoon real estate market saw stronger than normal activity this week breaking the one hundred-unit sales mark for the first time this year. There were one hundred and thirteen properties sold, up from eighty-two last week, and ahead of last year’s number, also eighty-two. Reaching their highest level since the final week of April 2008when one hundred and seventeen Saskatoon homes traded hands, sales of houses and condos were up one a year-over-year basis for the third consecutive week. For the first time in as long as I can remember home sales in areas one through three actually came in higher than new listings.


New listings of single-family detached homes and condominiums came in at one hundred and twenty-seven properties, down eleven from last week, and off by fifty-eight homes when compared to the same week last year. Ninety-five houses and thirty-two condominiums were listed for sale over the course of the week. Overall, stronger unit sales and weaker listing activity pushed total active residential listings down by twenty-five properties compared to last week, to 1,502, but they remained up from the same week last year when 1,154 properties were showing an active status on the Saskatoon MLS. As of this morning, there are nine hundred and ten single-family detached houses and five hundred condominiums for sale in the city.


After falling off of a cliff last week for lack of sales in the over $400,000 price ranges, the average selling price of a Saskatoon home bounced back to $289,265 and reached its highest level since late February. This week, there were seventeen houses and condos sold for $400,000 or more. The six-week average pushed forward nearly five thousand dollars over last week to reach $281,148; still almost sixteen thousand dollars lower than you might have paid last year at this time. The weekly median sale price jumped more than $30,000 from last week to reach $277,000 but the four-week median managed to hold steady at $270,000 for the fourth week in a row, and settled $9,500 lower than it was during the same week last year.


Average underbids came in slightly lower than the previous week at $11,411 which represents an average discount of 3.8%. The percentage of sellers who managed to firm up a deal within $10,000 of the asking price declined slightly from seventy-five percent to seventy-two percent and the $10,001 to $15,000 category also saw a decline of three percentage points, while sixteen percent of Saskatoon home buyers settled their negotiation with a discount greater than $15,000.


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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