Saskatoon real estate: Week in review (December 24-28 2007)

All things considered, this was probably a good week for Saskatoon real estate buyers to purchase a home.


On the one hand, active residential listings fell again, slipping below 400 for the first time since the week of June 25-29. Only 8 new listings were offered up for sale. Not a big surprise really. Listing a home doesn’t rank high on most people’s priority list during the holidays. As of today, there are only 184 houses and 164 condos showing the “open” status on the Saskatoon Multiple Listing Service®. The selection of houses is rather poor to say the least.


On the other hand, sellers were eager to wrap up a sale for Christmas and the 37 buyers who did purchase homes were rewarded with greater flexibility than we’ve seen in a while. The average underbid crept over the $10,000 mark for the first time since the week of November 12-16. Most notable however, is the absence of overbid sales. That’s right, there isn’t a single home sale reported above the asking price. Zero. Zip. Nada! This is the only week in 2007 which didn’t produce any overbids.


The average selling price came in at under $250,000 for the first time since the week of November 5-9, largely driven down by an unusually high percentage of condos trading in Area 1. Nine of the eleven reported sales were condominiums and seven of those homes were priced below our average.

Saskatoon real estate: Week in review (December 24-28)

I expect that we’ll see listing activity pick up some over the coming week but home sales are likely to be similarly low, perhaps even lower in next week’s numbers. Typically, residential real estate sales reach their lowest numbers in December. If our market behaves in a typical manner, we can expect to see unit sales increase steadily over the first few months of 2008.

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

Smallest house in Toronto on the market

Smallest house in Toronto on the marketThe “smallest house in Toronto,” measuring just 300 square feet is being offered for sale at $173,000. That’s $577 per square foot.


Sitting on a narrow lot which measures in at 7.25 feet by 113.67 feet, this little charmer has been completely renovated from top to bottom. It features a living room, a kitchen, a bedroom, a bathroom and a decent back yard.


I was most impressed by the initiative taken by the listing agents, Christina Lopes and Louise Ruggiero of Sutton Group Security Real Estate Brokerage. These two go-getters have enhanced their listing to the fullest on MLSOnline including a sales brochure and a virtual tour which offers eighteen still images and four 360 degree panoramic images.


It’s hard to find an agent who will provide such a rich presentation on house ten times the size.

The virtual tour for the property is here.


Tip of the hat to Matthew Collinge of Vancouver who originally posted about this property on his blog.

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 (December 17-21 2007)

As expected, last week produced fewer new Saskatoon real estate listings than the previous week with just 30 single family homes (houses) and condominiums being offered for sale. Total active listings fell to 430 units from 478 last week and 540 the week before. 211 of those properties are single family homes and 174 are condominiums. I expect that we’ll see a further decline this week as very few new listings are introduced to the market. Still, we should finish the year with more inventory than we had at the close of 2006, when there were only 256 active listings in all of the residential categories.


Home sales held fairly steady, given that it was the last shopping week before Christmas, with 60 properties reported as firm on the Saskatoon multiple listing service. That puts us at 170 transactions for December, already well ahead of the 157 units reported sold in December, 2006.


Overbidding was almost non-existent save two sales, one in area 3 and one in area 4. I believe that this was the only week this year where there were no overbid sales reported on Saskatoon’s east side.

Saskatoon real estate: Week in review (December 17-21)

This will be my last post prior to Christmas. I’m looking forward to spending a few days with my family. I’ll be back to post the final weekly review of this year next weekend.


I’d like to say thanks to all of you who drop in to read the latest on the Saskatoon real estate market. It’s been great having the opportunity to share with you and I’ve really appreciated the contributions you’ve made through your comments. I know others have as well. May you have a peaceful and restful holiday.


Merry Christmas, Happy Hanukkah, Joyous Kwanza, or whatever may work for you. J May you have a peaceful and restful holiday spending time doing what you like to do with the people you love.


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

Saskatchewan population tops the one million mark

Saskatchewan population tops the one million markAccording to a Statistics Canada population report released today, Saskatchewan has passed the one million mark for the first time since 2001. The province’s population was estimated to have reached 1,003,300 by October 1, 2007 an increase of 6,400 people since July, making it the country’s fastest growing province. According to the report, the provincial population has been “on the rebound” since the fourth quarter of 2006 when it bottomed out at 986,900 people.


Interprovincial migration accounted for two-thirds of the growth and was primarily fueled by people who returned to Saskatchewan from Alberta.


Who doesn’t know someone who moved back to Saskatchewan this year?


Read the StatsCan release here

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 (December 10-14 2007)

This past week produced the smallest number of new Saskatoon real estate listings for any week this year with just 46 houses and condos being listed for sale on our local MLS® system, down from 73 the week before. This decline in new listings is something which we expect to see in December and we can anticipate that the trend will continue through the next couple of weeks. Only the most serious sellers will list their properties between now and month end.


Home sales were fairly brisk given the time of year. 62 Saskatoon houses and condos were reported sold, compared to just 48 the week before. With a total of 110 sales completed, month to date, it seems fairly certain that we’ll see a higher volume this month, compared to December, 2006.


Total active residential listings closed the week at just 478 units, a big drop from 540 last week. 242 of those properties are single family homes (houses) and 187 of them are condominiums. The balance are semi-detached, duplexes, mobiles, etc. I took a little trip back to last December to compare inventory levels from late in the year. While the total number of active listings is higher this year, I noticed that we actually have fewer houses for sale, but substantially more condos on the market than we did then. On December 11, 2006 the Saskatoon MLS® was showing 265 single family homes and just 44 condos as active.

Saskatoon real estate: Week in review (December 10-14)

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