Saskatoon real estate: Week in review (August 25-29 2008)

New listing activity in the Saskatoon real estate market was slightly higher than last week with a total of 141 new listings in the residential category. The single-family homes and condo category saw a small decline in new listing activity with 121 units being introduced over the course of the week. As of today, there are 1,059 single-family homes and 499 condominiums showing the active status. Total active listings in the residential category show a small increase to 1,676 properties compared to 1,667 last week.


Sales were pretty much on par with the previous week. A total of 57 properties were reported as firm sales including 53 houses and condos.


The average selling price for the week was just $270,911, down from $276,320 last week and one of the two lowest weekly averages since the middle of March.

Saskatoon real estate: Week in review (August 25-29, 2008)

I’ve just returned from two wonderful weeks in the Canadian Rockies. I’m feeling ready to get back to work, and excited to see how this market unfolds in the months ahead. My thanks go out to Pamela for managing the phone, email and the blog while I was away. Thanks also to Lyndon Neher for looking after the day-to-day details of the business. Finally, thanks to all of you readers for continuing a lively discussion.


Over the next few weeks, I’ll be considering some new ways to report on the Saskatoon real estate market on a weekly basis. Market changes are probably making some of the numbers irrelevant (over list, under list, etc.). If you have some ideas on what you would like to see, or how you’d like to see it presented, I’m all ears. You can leave your suggestions in the comment string, or drop me an email using the button below the header on this page. Once again, thanks so much for your participation in this community.

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 (August 18-22 2008)

New listing activity in the Saskatoon real estate market slowed some this week with just 134 new properties added to the MLS in the “houses and condos” categories but the active inventory continued to make some gains climbing from 1,628 last week to 1,667 by the close of business this week. Today, there are a total of 1,067 Saskatoon houses and 488 condominiums showing an active status on our system.

Sales continued at a rather lackluster pace with just 56 units placing a sold sign including 54 houses and condos. As of today, total residential sales for the month of August sit at just 169. Last August produced 398 sales so we have some serious ground to make up during the last week of the month. Unless something amazing happens next week it seems clear that sales will be much softer this August than they have been for a few years.

The average selling price of a home in Saskatoon bounced back a bit from last week to finish at $276,320, about $6,500 higher than last week but still the second lowest average since the week of March 10-14.

My thanks to Pam for crunching the numbers and producing the graphic for this week’s review. You’re handling things like a real pro and I’m proud to have you on my team. Thanks for looking after things while I’m away.
Saskatoon real estate: Week in review (August 18-22, 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

Saskatoon real estate: Week in review (August 11-15 2008)

New listing activity in the Saskatoon real estate market picked up again as the local MLS system welcomed 165 new listings including 157 properties in the single-family homes and condo categories. Total active listings pushed further forward and finished the week at 1,628, up significantly from 1,555 last week. At the close of business Friday there were 1,047 houses and 469 condominiums still looking for a buyer.


A total of 61 properties changed hands, up sharply from last week’s poor performance but still below the numbers that we might expect at this time of year. 58 of the 59 houses and condos which sold recorded sale prices below the asking price and overbid sales where nowhere to be found for the first time this year. The average underbid remained consistent with recent weeks.


The average selling price of recorded sales came in at just $269,802 taking a huge dip from the monster number recorded last week to finish the week at its lowest level since the week of March 10-14.

 

Many of this week’s sales produced fairly strong numbers but some of them stand out as better buys, at least in comparison to where they may have sold a few months ago.


Notable sales.


  • 864’ bungalow in East College Park with a single garage sells for $249,000.
  • 1,768’ Erindale two-storey split with a double garage trades at $410,000.
  • 882’ condo in Forest Grove sells at $176,000.
  • 875’ condo at Lakeshore Estates in Lakeview brings $180,000.
  • 1,148’ Silverwood bungalow with a single garage goes for $310,000.
  • 864’ Confederation Park bungalow with a single garage sells for $229,600.

I will be away on vacation through September 1. The “Week in Review” will continue through that time but that will likely be the extent of my involvement during that time. My assistant Pam will be moderating comments. Please take it easy on her and do your best to avoid nasty arguments. 🙂 Once again, thanks so much for your contribution to our efforts. I look forward to joining the discussion again when I return.

Saskatoon real estate: Week in review (August 11-15, 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

Saskatoon real estate: Week in review (August 4-8 2008)

Looking at this week’s sales, you may have thought it was Christmas for Saskatoon real estate agents, and not in the good way. 🙂 Just 38 properties, including 35 in the single-family homes and condominiums categories were reported firmly sold, the lowest number of weekly sales since the week of January 7-11. Another 24 properties display the conditionally sold flag on the Saskatoon MLS system.


New residential listings were on the low side in comparison to recent weeks as well. Only 135 properties were listed for sale including 87 houses and 41 condos, but given the slower sales activity, total active listings found a new high point at 1,555. Of those, 1,011 are houses and 436 are condos.


The average selling price for the week spiked to a new high of $332,529 but the upward surge can be attributed to one residential sale that topped $1.1 million dollars. Selling about $200K off of its list price, the same property drove the average underbid to a new high of just over $18,000. Removing this one property from the mix brings the average selling price to $308,485, still the highest number we’ve seen since the week of June 23-27. The average underbid would also be adjusted to $10,865, which is more or less on par with what we’ve been seeing in recent weeks.


This week’s soft sales performance could be one of those strange anomalies that we see from time to time in the weekly stats but August is typically expected to produce above average unit sales and this gives us an incredibly slow start in reaching the numbers posted in previous months of August.

Saskatoon real estate: Week in review (August 4-8, 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

A closer look at the Saskatoon real estate statistics for July 2008

After two months of sluggish sales in the Saskatoon real estate market, demand picked up some in July. Total unit sales of condominiums and houses came in behind July 2007 numbers (411 units), but slightly higher than sales in 2005 (340) and 2006 (337), and up just over 10% compared to June, which closed with 299 sales. Average prices in this category didn’t fair as well, falling nearly $19,000 from their peak of $313,109 to settle at $294,306. Year-over-year, prices in this category were up nearly 20% from $245,306. Average days on the market increased from 21 days in June to 30 days in July.

Saskatoon real estate statistics for July 2008

Any loss to unit sales can be attributed to the “houses” category as record level prices curbed demand. Unit sales fell to 228, up from 212 in June, but down significantly from July 2007 when 315 houses traded hands. The average price of a Saskatoon house remained up about 27% over July 2007 when prices reached $253,446, but slid from nearly $340,000 in June to $322,715 in July. The average cost per square foot of a Saskatoon house dropped $9.00 through July when compared to last month.

Saskatoon real estate stats for July 2008

Remarkably, condo sales for the month of July reached 111 units, up from 87 in June and actually beating July of 2007 when 96 condos traded. Prices took a fairly significant slide dropping to $235,952 from $248,681 last month, and up just 6.5% from $221,495 in July 2007. The average cost per square foot in the condo category increased $5.00 suggesting that the units that traded were smaller on average than those that sold in June.

Saskatoon real estate stats for July 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