Saskatoon real estate: Week in review (May 21-25 2007)

Home buying and listing activity remained strong last week in spite of the long weekend with a total of 126 new residential listings and 104 home sales reported to the Saskatoon MLS®.


The average selling price of a Saskatoon home reached its highest point since I began tracking weekly activity at $251,164. It’s important to note that this number can be greatly impacted by an unusually high number of luxury home sales and that appears to be what happened last week. Area 1 showed 10 sales of homes above the $400,000 mark and Area 2 produced a sale at $959,000, the highest priced home ever recorded sold on the Saskatoon MLS® system.


Here’s a look at the numbers.

Saskatoon real estate statistics for May 21-25, 2007

Saskatoon real estate statistics for May 21-25, 2007

Here are a few of the more notable sales from last week.


  • The two bedroom walk up apartment hit a new high as an 820 square foot unit in Wildwood sold for $190,000. This is one of those apartments which you could have taken your time thinking about last fall and easily bought for $90,000.
  • River Heights bungalow (1,236’) with a single attached garage goes for $370,000.
  • Haultain bungalow at 850’ with a single garage brings $275,000.
  • Dundonald bi-level at 1,251’ with a double attached garage fetches $345,000.
  • Arbor Creek four-level split on Kenderdine Road (1,024’) goes for $365,000.

  • Showy Forest Grove bi-level at 1,100 square feet with no garage goes for $310,500.
  • Lakeridge two-storey (1,726’) sells for $370,000. This is only remarkable because it also sold in 2003 for $182,000 and provides a pretty clear picture of what’s happening to Saskatoon property values.
  • More than one, one bedroom condo in the 735’ range sells in the 180’s.
  • Cute little (900’) Queen Elizabeth bungalow with a legal suite and no garage sells $62,000 over list at $270,000.
  • Large (1,584’) Montgomery Place bungalow goes $20,000 under list at $269,900. This one is a bit baffling as it has a double garage, large lot and some nice upgrades. It was left open for offers for one full week. Perhaps the best buyers for this home found something else in the mean time.

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.

Follow our daily updates on Twitter @SaskatoonHomes.

Norm Fisher
Royal LePage Saskatoon Real Estate

Saskatoon real estate: Week in review (May 14-18 2007)

If Saskatoon real estate buyers were holding out any hope that this market may have been starting to show signs of balancing, this week’s numbers provide a solid slap in the face and a reality check.


While there was some good news on the listings front when total actives briefly broke the 300 mark for the first time this year, and the largest number of new listings for any week this year came on the market, Saskatoon real estate agents also reported a record number of residential sales at 154 units.


Saskatoon home buyers continued to show their spirit and determination to get out of the market once and for all bringing offers over the list price on a full 75% of homes listed. The average overbid for all Saskatoon homes reached its highest average once again at $27,156.


Here’s a look at the numbers.

Here are a few of the more notable sales from last week.


  • Showy Forest Grove bi-level at 1,100 square feet with no garage goes for $310,500.
  • Lakeridge two-storey (1,726’) sells for $370,000. This is only remarkable because it also sold in 2003 for $182,000 and provides a pretty clear picture of what’s happening to Saskatoon property values.
  • More than one, one bedroom condo in the 735’ range sells in the 180’s.
  • Cute little (900’) Queen Elizabeth bungalow with a legal suite and no garage sells $62,000 over list at $270,000.
  • Large (1,584’) Montgomery Place bungalow goes $20,000 under list at $269,900. This one is a bit baffling as it has a double garage, large lot and some nice upgrades. It was left open for offers for one full week. Perhaps the best buyers for this home found something else in the mean time.

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.

Follow our daily updates on Twitter @SaskatoonHomes.

Norm Fisher
Royal LePage Saskatoon Real Estate

Saskatoon residential MLS listings reach highest point this year

Saskatoon residential MLS listings reach highest point this yearFor the first time this year, active MLS® listings of condominiums and single-family homes within the city of Saskatoon broke the 300 mark. Since late December, we’ve been hovering between 236 and 292 active listings. At the close of business today there are 312 listings showing an active status. An “active” listing is one which has not yet been reported as having a firm offer is place, so properties which have not attracted offers as well as those which have been “conditionally sold” are counted among them.


Is this a big deal? Most buyers and sellers aren’t likely to feel much of a change when they’re out there doing business. You can continue to expect to find competitive bidding on homes which are priced realistically. However, it is encouraging to know that active listings are now about thirty percent higher than they were at the lowest point. Over the past two weeks there have been more new listings than there were homes sold. I wouldn’t expect to see prices come down anytime soon but as we make our way towards 400 Saskatoon homes for sale, and hopefully we’ll continue to move in this direction, we might expect to see the pace of increases slow.

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 Saskatoon Real Estate

Flip This House exposed: The “unreal” side of reality TV

Flip this house exposed: the unreal side of reality tv

This is not exactly important real estate news but I couldn’t resist writing a small snip about this story.


It seems that the popular A&E reality program, “Flip This House” has run a number of episodes which amount to nothing more than a sham. Featuring self proclaimed “real estate developer” Sam Leccima, the episodes represent his renovation projects as having been sold for huge profits. As it turns out, most of them haven’t actually sold and at least one of them wasn’t actually renovated.


To make matters worse, it’s clear that Sam Leccima is the target of a number of civil suits from prospective investors who trusted him to invest their money wisely. One gentleman claims to have lost $100,000 to the smooth talking television celebrity.


A&E claims to have no knowledge of the sham and they have pulled all episodes which feature Leccima from their re-run schedule.


Thanks to Doug Quance for the heads up on this bit. Doug is an Atlanta based agent who has been on top of this home town story since October of last year when he noticed some of Sam’s sold properties were still listed for sale.

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 Saskatoon Real Estate

CMHC releases “2nd Quarter Housing Market Outlook” for Saskatoon

Canada Mortgage and Housing Corporation (CMHC) released their “2nd Quarter Housing Market Outlook” for Saskatoon real estate today. Once again, the publication proves to be a huge waste of tax payer dollars.  I hate to be so damned sharp but I’m constantly frustrated by the government agency’s failure to get it right. You’d think that they could do better given the resources available to them.


In their forecast released late last fall, CMHC predicted, “In 2007, prices will continue to rise although at a slower pace largely due to the forecast increase in supply. A less pronounced increase is forecast for 2007, with prices rising by 7.3% to reach $169,500.”  In this newly released 2nd Quarter Forecast, CMHC has adjusted their forecasted increase stating, “Average prices are expected to increase by 21.4% in 2007, bringing the average resale price to $195,000.”


It’s worth noting that the average selling price of Saskatoon homes has already reached $206,000 year to date, and it topped $220,000 over the month of April. Inventory levels remain desperately low and there is no apparent sign that balance will be found anytime soon.


To their credit, CMHC does make the point that many of the homes currently under construction will be ready for occupancy in the coming months. Given the types of homes which are currently under construction, there is some reason to be hopeful that these “starts” will bring some resale inventory to the market as they near completion.


See CMHC’s 2nd Quarter Housing Market Outlook here

Read also: Saskatoon real estate market predictions

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 Saskatoon Real Estate