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Saskatoon real estate market activity down in August and September, 2012: SRAR

The Saskatoon Region Association of Realtors® (SRAR) released the MLS® residential real estate statistics for September of 2012today accompanied by this release.


For the first time in 18 months the number of sales has declined moderately in two consecutive months, however year-to-date sales are still up six percent compared to the end of September last year. Homes priced between $275,000 and $400,000 experienced the greatest decrease in unit sales during the past two months. “There are concerns in the market place that recent changes to mortgage rules would have a significant impact on the market however while this may be true in some Canadian markets. I believe the economic position and population growth of Saskatchewan mitigate this,” comments Jason Yochim of the Saskatoon Region Association of REALTORS®.  “Markets like Toronto and Vancouver have experienced unrealistic gains due to foreign investment and are now experiencing significant corrections. Unfortunately, most economists paint the entire country with the same brush. If the real estate bubble is bursting in major Canadian markets it shouldn’t be assumed that it holds true for us,” says Yochim.



Listing activity was down four percent compared to last September, however, the number of homes listed year-to-date is up two percent compared to the same time last year. Currently there are a total of 2,637 active listings in the Saskatoon and area market which is down four percent from the same time in 2011.



On average it took a home 40 days to sell in Saskatoon a year ago. This past September the average days on market was reduced to 33. By comparison, in the rural market outside Saskatoon, at 59 days, it took less time to sell a home last September compared to 63 days on average for the same period in 2012.



I’m always happy to answer your Saskatoon real estate questions. All of my contact info is here. Please feel free to call of email me.


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Norm Fisher
Royal LePage Saskatoon Real Estate

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.
 

Note: We are in the process of bringing this blog home to the TeamFisher.com domain and we have a lot of stuff to move! Another 700 posts can be found at normfisher.com where they'll remain until we can get them moved here.

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