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Saskatoon real estate: Week in review (September 3-7 2007)

The Saskatoon real estate market took its biggest leap towards “balance” this week as new listings of houses, condos and duplexes outnumbered sales by nearly two to one. A total of 126 new listings came on the market while just 66 homes found new owners. This week’s numbers brought more changes than I can recall seeing since I wrote the first post which became the “Week in review” back on February 17, 2007.


Here are a few of the highlights.


  • The percentage of homes which sold above the list price fell to 35%, the lowest level since the week of February 19-23.
  • The average overbid dropped 36% from last week to $9,335 reaching its lowest point since the week of February 26-March 2.
  • The average underbid was actually larger than the average overbid in four of the five Saskatoon real estate areas.
  • For the first time since the week of February 19-23 the average selling price of a Saskatoon home was lower than the average list price.
  • Total active residential listings reached their highest level this year at 591 units.
  • 19 sellers called it quits by withdrawing from the market and another 10 listings expired without a sale.


If you compare this week’s numbers to any other week between 1993 and 2006 you couldn’t help but think that the Saskatoon real estate market is really on fire. When compared to almost any other week in 2007 it starts to feel a little soft around the edges.



See a Google map displaying the boundaries of Saskatoon real estate “areas” here Data collection and calculation for our statistical reports


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.


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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