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Saskatoon real estate: Week in review (April 6-9 2009)

Saskatoon real estate agents reported sixty-four firm sales of detached houses and condominiums to the Saskatoon MLS this week. While down by twenty-two units compared to the same week last year, sales were lower by just ten units compared to last weekand were certainly above the average for recent weeks. Not too bad, considering that it was a short week with just four full days of MLS service.


The short week didn’t prevent agents and sellers from finding time to list Saskatoon homes for saleas one hundred and forty nine properties in the house and condo categories were offered for sale. Listings for the week were up nine units compared to last week but continued to lag well behind on a year-over-year basis. This same week in 2008 saw 200 new house and condo listings. Total active residential real estate listings managed to push higher again closing the week at 1,451 units, up fifty-two over last week when they sat just below the 1,400 mark, and sharply higher than the 619 properties which were sale during the same week last year. As of this morning, there are 890 houses and 472 condos for sale within the city of Saskatoon.


Saskatoon home prices remained fairly level compared to recent weeks but continued to lose ground using year-over-year comparisons. Again, this was a period of sharp and steady increases through 2008 while the current trend over that same period this year is, at the very best, holding the line. The average selling price for the week crept up just about five thousand dollars over last week to finish at $278,498. The six-week average gained approximately seventeen hundred dollars over last week, closing at  $268,726; nearly twenty-eight thousand dollars lower than the number reached for the same week last year. The four-week median held steady compared to last week at $260,000 but fell further on a year-over-year basis to finish $31,750, or eleven percent, below last year’s number.


The average underbid recorded this week increased from $12,180 to $13,141 and amounted to an average discount of 4.5% of the asking price, up from 4.3% last week. The lower price categories on the underbid chart look a lot like a typical week with about sixty-three percent of Saskatoon home sellers accepting an offer within ten thousand dollars of the asking price. There are some big differences in the upper end price categories though as the $10,001-$15,000 category increased from fourteen percent last week to nineteen percent, the over $25,000 expanded in a big way from four percent to sixteen percent, while the $15,001-$20,000 category disappeared from the chart and the $20,001-$25,000 represented just two percent of sales compared to eight percent a week earlier.


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, 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.
 

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