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SRAR releases 2007 year end Saskatoon real estate stats

Saskatoon REALTORS® were kept busy in 2007 assisting 4,446 home-buyers with their purchase of over one billion dollars of residential real estate. The $1,034,826,425.00 number represents an 88% increase in residential dollar volume from 2006, which had a dollar volume total of $ 550,779,874.00.


2007 saw a total MLS® dollar volume record of $1.367 billion dollars with over 6,000 properties being purchased. This number, also a record, was up by 37% from 2006 when 4,411 units were sold.


The month of December was very active with 210 residential units selling, up 34% from December 2006 when only 157 units were purchased. Year to date 4,446 residential homes were sold.


The six-month rolling average sale price was $250,428.00. The average residential selling price in December was $255,271.00. This number also up 46% from December 2006 when the average sales price was $175,301.00.This increase in the average selling price indicates strong demand for mid to upper price range homes. Year to date the average selling price is $232,754.00 up 45% from 2006.


The average selling price is derived by dividing the month’s unit sales number into the month’s dollar volume. The percentage of change from month to month should not be used unilaterally as prices do vary from area to area. Consumers wishing to know the value of their home should contact a REALTOR® member for an accurate evaluation of their property.


Residential listing inventory was up at the end of December with 346 properties being available for sale. That number up 37% from December 2006 when 253 homes were available for purchase.


1,050 rural residential units were purchased in 2007. This number is up 35% from 2006 when 780 rural residential properties were purchased. The average selling price for rural residential properties in 2007 was $182,314.00 increasing by 24% from 2006 when the average selling price was $146,573.00.


All indicators point to a very strong real estate market in 2008. There is exceptional consumer optimism in Saskatoon. Investors from across Canada and other parts of the world are excited about our city and our province and appear ready to invest in all areas of real estate. It is easy to share this optimism when one considers Saskatchewan’s opportunity for unlimited growth while still remaining one of the most affordable places to live in Canada.


I’m always happy to answer your Saskatoon real estate questions.  


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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