Saskatoon real estate: Week in review (September 22-26 2008)

New Saskatoon real estate listings increased marginally from last week as a total of 139 properties were offered for sale on the MLS system including 122 single-family homes and condominiums. Total active listings increased from 1,739 last week to finish the week at 1,756 units including 1,094 houses and 543 condos. 39 sellers used the “cancel and relist” strategy to adjust their asking price and an additional 121 price changes were processed through the course of the week.

This past week produced the highest level of sales activity that we’ve seen since the week of July 28-August 1 with a total of 70 house and condo sales firming up, but just 20 additional properties are displaying the “conditional sale” flag, about 50% lower than what’s typical lately.

The average selling price was significantly lower than it has been in recent weeks, but a couple of large sales kept it above the $300,000 mark for the third consecutive week. Another residential sale over one million dollars was processed this week so the average selling price for the week was still subject to some skewing. The monthly numbers will also be affected. To the best of my knowledge this is the first month ever in which two residential sales topped that benchmark.

The percentage of sales that occurred at, or above the list price spiked higher than in recent weeks as five sellers get their asking price and four received an average of $18,000 more.
Saskatoon real estate: Week in review (September 15-19, 2008)

I’ve missed a couple of big housing stories this week. I’ve been away at a conference in St. John’s since Wednesday so a busy schedule has prevented me from spending much time here. To top it off, the hosting company that has been hosting my images seems to have performed a disappearing act so all of my free time has been spent switching hosts to get my images back online. I’ll try to write something about the new Merrill Lynch report, and the paper that Scotiabank released in response.

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 (September 15-19 2008)

The pace of new Saskatoon real estate listings slowed some from previous weeks as just 130 residential listings made their way to the multiple listing service including 117 single-family homes and condominiums, the smallest number we’ve seen for any week since the week of March 17-21. Total residential listing inventories showed little change from last week, moving up just one unit to 1,738 properties. Single-family and condo inventories showed equally modest drops from the previous week to settle at 1,083 and 538 respectively. Historically, this is the time of year when active listing inventories begin to slide some. It will be interesting to see if that trend occurs this year.

Residential units sales also softened sliding from 58 units last week to 50 units this week but sales in the single-family and condo categories were down further falling to 42 properties compared to 57 the week before. It was reasonably good week for those looking to unload “revenue property” as close to half of the month’s sales were completed over the past seven days.

A total of 75 residential properties were either cancelled or withdrawn from the MLS and 50 of those units found their way back to the system as “new listings,” most with a new price. An additional 136 price adjustments were processed over the course of the week. Still, the average asking price in the single-family home and condo categories is $336,898, significantly higher than the average selling price of $282,470 recorded in August.

The average selling price of a Saskatoon home was up again at $316,380 largely due to one sale in area 1 which broke the million-dollar mark and pushed the overall average about $18,000 higher. This was the third residential sale to crack the one million dollar mark since May of this year. Before that, the entire MLS history shows just one sale in this price category within the city limits.

Saskatoon real estate: Week in review (September 15-19, 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

John Gormley on me, real estate blogs, and you

Me: “A really good guy.”
Real estate blogs: “A bit of a mistake.”
You: “Loons…lefties…Saskatchewhiners…idiots.”

Audio clip from John Gormley Live – 09/16/08

Think about it. I am. ☺

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 (September 8-12 2008)

Following a painfully slow week for the Saskatoon real estate market, residential unit sales bounced back with 58 properties trading hands, including 57 condos and single-family homes.


New listing activity remained strong with a total of 165 residential properties hitting the market including 115 single-family homes and 40 condominiums. Total residential listings crept higher once again to settle at 1,737 units. 1,086 of those properties are single-family homes and 539 are condominiums. The balance of available units includes semi-detached, duplexes, mobiles and vacant lots.


93 sellers canceled or withdrew their listing from the multiple listing service and 69 of those homes re-entered the market disguised as a new listing. An additional 162 houses and condos were reduced in price through the week and all but a few of the re-listed properties saw a change to their pricing strategy at the same time.


Average sale prices took a large increase jumping to $312,978 from $285,435 last week. Prices came in higher in three of the five major Saskatoon real estate trading areas, but the increase was most notable in area 1 where four sales above the $600,000 mark (two above $800,000) pushed the average higher.


Overbidding made a small comeback this week with three units reporting final sale prices which exceeded the listing price. That’s the largest number in several weeks. The average overbid of $5,700 was also at its highest point since the week of July 7-11. The majority of home buyers (53) managed to negotiate a price below asking with an average discount of $12,059, just slightly lower than last week.

Saskatoon real estate: Week in review (September 8-12, 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 August 2008

Residential unit sales in the single-family home and condominium categories took a solid tumble in August falling to just 212 units, down from 339 in July, and down further from 368 in August 2007. The average selling price dipped to $282,470 from $294,306 the previous month but settled in above the final numbers for August 2007 when the average price of a home reached $255,955. The average cost per square foot for a Saskatoon home was up $30 from last year to $263, about even with July 2008.

Saskatoon real estate stats including house and condo sales for August 2008

In the single-family home category, unit sales declined from 266 units last August to settle at 150. Average selling prices slid sharply from $322,715 in July to $306,095 in August but remained significantly higher than the $268,708 average reported in August of last year. The average cost per square foot managed to climb slightly from $268 in July to $269 in August, but the average size of the houses that traded was just 1,136 square feet compared to 1,204 the month before.

Saskatoon house sale statistics for August 2008

The average price of a Saskatoon condo continued to slide for the fourth consecutive month reaching $225,311, down from $239,952 in July and just slightly higher than the average in August 2007 when it reached $222,698. Still, the average cost per square foot came in at $241, compared to just $224 in August 2007, and $248 in July 2008.

Saskatoon condo sale statistics for August 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 @norm_fisher.

Norm Fisher
Royal LePage Saskatoon Real Estate