CONTACT

Saskatoon real estate: Week in review (April 21-25 2008)

Following a few weeks of unseasonably sluggish home sales, the Saskatoon real estate market took an upward bounce this week with 117 condominiums and single-family home sales reported as having firmed up. That compares to just 70 last week, and it even tops the 109 units reported sold for the same week last year. An additional 63 homes are flagged as “conditionally sold” on the Saskatoon MLS system.


New residential listings continued on an upward trend with a total of 220 properties being introduced to the market, including 146 houses and 58 condos. Total active residential listings closed the week at 739 units, up from 668 last week, and significantly higher than the approximately 255 homes that were available at this time last year.


Some cooling occurred in the overbid arena with just 34% of Saskatoon homes sold selling for more than the asking price, down from 41% last week, and dropping sharply from the whopping 73% that we experienced during the same week in April of 2007. The average overbid took a big hit falling 42% from last week and landing below the $10,000 mark for the first time in the last ten weeks.


After three weeks of pushing the $320K mark, average selling prices softened to $288,679, the lowest weekly number we’ve seen since the week of March 10-14. Sales at the upper end of the value range were down in most areas. Also notable is the fact that the average selling price of a Saskatoon home was lower than the average list price for the first time since the week of February 18-22.


It seems to me that all of the indicators are pointing towards a little more balance in the near future, assuming that new listings continue to outpace sales at the current rate. Total unit sales for the month of April will almost certainly show some softening over April 2007. These two factors should result in better conditions for home buyers.

Saskatoon real estate: Week in review (April 21-25)


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.


Follow our daily updates on Twitter @SaskatoonHomes.


Norm Fisher
Royal LePage Vidorra

Norm Fisher, TeamFisher

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.
 

Subscribe to our Blog

Posts By Date
The Saskatchewan REALTORS® Association (SRA) (SRA) IDX Reciprocity listings are displayed in accordance with SRA's MLS® Data Access Agreement and are copyright of the Saskatchewan REALTORS® Association (SRA).
The above information is from sources deemed reliable but should not be relied upon without independent verification. The information presented here is for general interest only, no guarantees apply.
Trademarks are owned and controlled by the Canadian Real Estate Association (CREA). Used under license.
MLS® System data of the Saskatchewan REALTORS® Association (SRA) displayed on this site is refreshed every 2 hours.
Google Analytics Alternative