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What’s really happening in the Saskatoon real estate market?

If you’ve spoken to a Saskatoon real estate agent lately, you’ve undoubtedly been left with the impression that the market is hot, and it certainly is. It’s very easy to lose perspective though because we most often hear the exceptional stories repeated.


You might have the impression that all homes listed are attracting offers in excess of the listed price and that’s simply not true. I thought I’d give you a bit of an overview of the sales activity from last week to give you a truer picture of what’s going on.


The following chart shows the total number of residential sales in each Saskatoon area (geographic definitions below) followed by the number of homes that sold below the asking price, at the asking price, and above the asking price.


The next chart shows the average list price, average sale price, and the average overbid where homes sold above the asking price.


Even I was surprised to find that over 50% of residential listings are still selling below the list price, though marginally. Fewer than 25% are actually selling above the list price. It’s very clear that on average sellers are receiving offers that are very close to the asking price but you can’t assume that you’ll need to pay more than the list for every Saskatoon real estate listing.


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


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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