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

It was just a slight push that produced a net gain of seven active residential real estate listings on the Saskatoon multiple listing service but it was enough to push the total inventory past the 1,500 mark for the first time. At the end of the week there are 1,506 residential properties displaying the “active” flag including 976 single-family homes (houses) and 430 condominiums. While inventories are at an all time high, it seems clear at this point that listing activity has started to moderate through July. I expect that when the dust settles, July will likely produce the smallest gains we’ve seen in several months.


Residential real estate sales also weakened some last week with just 61 units trading hands including 59 single-family homes and condos, a drop of 12 units compared to the week before. Area 1 remained fairly strong in comparison to recent weeks claiming 22 of 59 Saskatoon home sales recorded. Another 43 properties are marked “conditionally sold.”


Overbidding activity almost fell off of the map with just one sale recorded above the asking price. There was only one other week this year where overbids fell to one, and this week’s average overbid of just $100 is the lowest on record this year.


The average underbid increased to $11,763, one of the highest points on record this year but it was largely skewed by two exceptional area 2 sales, one of which sold $50K below list, and a second at more than 80K below.

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


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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