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Saskatoon real estate: Week in review (September 29-October 3 2008)

Total active residential listings in the Saskatoon real estate market took a strong dip this week falling to 1,680 units, down 76 properties from the previous weekwhen active listings peaked at 1,756. Over the course of the week, 67 property listings were either canceled or withdrawn from the Saskatoon MLS, and just 42 of those homes returned as new listings producing a net loss of 25 properties. The balance of the change is the result of a large handful of listings that expired at the end of September. Now that we are a few months into a period of diminished demand, we should start to see more listings expire without a sale on a more regular basis. Today’s active listing count includes 1,053 single-family homes (houses), 519 condominiums, and 108 properties that include duplexes, semi-detached homes, vacant lots and mobiles. 629 units (37%) of the total listing inventory are vacant, while tenants occupy another 217.


In addition to the “re-lists,” most of which came back on the market with a new price, 148 sellers approved a price adjustment in hopes of capturing a buyer before the weather turns. Most years, we would expect to see unit sales drop through the final quarter, so in all likelihood, it will just continue to get tougher for sellers to move their properties through the balance of 2008.


Residential unit sales also dipped from the previous week when 70 houses and condos traded to close the week at 52. The vast majority of those homes (49) traded below the asking price while three lucky sellers managed to meet or beat their asking price. An absence of higher end sales which have been commonplace through September brought the average selling price back below the $300,000 mark for the first time since the week of September 1-5. Saskatoon real estate: Week in review (September 29 - October 3, 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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