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Saskatoon real estate: Week in review (September 22-26 2008)

New Saskatoon real estate listings increased marginally from last week as a total of 139 properties were offered for sale on the MLS system including 122 single-family homes and condominiums. Total active listings increased from 1,739 last weekto finish the week at 1,756 units including 1,094 houses and 543 condos. 39 sellers used the “cancel and relist” strategy to adjust their asking price and an additional 121 price changes were processed through the course of the week.


This past week produced the highest level of sales activity that we’ve seen since the week of July 28-August 1 with a total of 70 house and condo sales firming up, but just 20 additional properties are displaying the “conditional sale” flag, about 50% lower than what’s typical lately.


The average selling price was significantly lower than it has been in recent weeks, but a couple of large sales kept it above the $300,000 mark for the third consecutive week. Another residential sale over one million dollars was processed this week so the average selling price for the week was still subject to some skewing. The monthly numbers will also be affected. To the best of my knowledge this is the first month ever in which two residential sales topped that benchmark.


The percentage of sales that occurred at, or above the list price spiked higher than in recent weeks as five sellers get their asking price and four received an average of $18,000 more. Saskatoon real estate: Week in review (September 15-19, 2008)


I’ve missed a couple of big housing stories this week. I’ve been away at a conference in St. John’s since Wednesday so a busy schedule has prevented me from spending much time here. To top it off, the hosting company that has been hosting my images seems to have performed a disappearing act so all of my free time has been spent switching hosts to get my images back online. I’ll try to write something about the new Merrill Lynch report, and the paper that Scotiabank releasedin response.


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, 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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