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Saskatoon real estate: Week in review (June 16-20 2008)

Active residential listings in the Saskatoon real estate market saw a net gain of approximately 60 units this week, climbing from 1,326 units last week to finish the current week at 1,387 units, including 1,283 homes (houses and condos). 228 residential properties were listed on the Saskatoon MLS including 161 houses and 56 condos, bringing total available listings in those two categories to 891 and 392 respectively. Approximately 60 of those “new listings” were actually reintroduced as new listings following a cancellation of an already active MLS listing. An additional 49 properties are flagged as “conditionally sold.”


This graph represents the growth of the total active residential listing inventory (houses, condos, duplexes, semi-detached, mobile and vacant lot) over the past 16 weeks.

Graph representing the growth of active residential real estate lsitings in Saskatoon, SK

A total of 82 properties were reported as firm sales for the week, including 76 in the house and condo categories, which represents a drop of 17 homes when compared to the previous week.


Slowly, but surely, overbidding continued its downward trend with just 6 of 76 Saskatoon homes drawing offers that exceeded the asking price.The average overbid came in at just $4,214, the lowest number we’ve seen since the week of April 28-May 2. At the same time, the average underbid also fell, settling at $7,397, and reaching its lowest point since the week of January 28-February 1. 86% of the homes reported sold published sale prices below the seller’s asking price.


Average sale prices for houses and condos combined bounced back from $303,453 last week to $317,145 this week. So far in June, 248 residential properties have traded at an average selling price of $312,445. In those totals, there have been 164 single-family home (houses) sales averaging $339,238 and 70 condo sales averaging $251,657.

Saskatoon real estate: Week in review (June 16-20, 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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