Saskatoon real estate week in review: September 23-29, 2012

Saskatoon real estate sales slipped lower this week to 82 homes, a drop of just two from last week and down seven when compared against sales reported to the multiple listings service® during the same week last year.  At the same time, new listings continued to enter the market at a faster pace. Local agents listed 140 Saskatoon homes this week, just two more than were listed last week but well up over the same week a year ago when just 82 new listings were offered up on the MLS® system.

Click the image for a larger version of the graph.

The total inventory of residential listings on the Saskatoon multiple listing service® inched higher growing by eight properties from last week to 1207. That’s precisely the number of properties that were available on the MLS® one year ago. Inventory had been well down on a year-over-year basis since early February. In previous years, the trailing off of inventory was underway by now. This year, listings are sticking pretty close to that 1200 mark since the middle of May. A quick search of today’s listings show 741 single-family homes and 396 condominiums. At the close of the same week a year ago those two categories of Saskatoon housing stood at 723 and 437 respectively.

Click the image for a larger version of the graph.

An absence of home sales above the $630,000 mark kept the average selling price of a Saskatoon home well lower than it has been through most of the year at $308,105. A good number of entry level transactions pushed the weekly median price below $300K for the first time in months. The six-week median sale price continued to fall for the fourth consecutive week to close the week at $332,604 for an annual gain of just over twenty-eight thousand dollars. The four-week median price took its third consecutive dip falling five thousand dollars from last week to $332,604 for a slimmer than usual annual increase of about fifteen thousand dollars.

Click the image for a larger version of the graph.

Overbid sales had a fairly weak showing at just three. On average, those homes sold at just $400 more than the list price. Another seven homes sold for the full asking price. Meanwhile, 72 of this week’s 82 sales were reported to have sold at a price that was below the seller’s asking price by an average of $8,350.

Other notable MLS® activity this week included 43 cancelled and withdrawn listings, 11 expired listings and 53 price adjustments.

Click the image for a larger version of the chart.

Highlights from the news this past week

Housing market cool down widespread across Canada – Financial Post
New mortgage rules cool home sales – Star Phoenix
Sask. population growth highest since 1921: Statistics Canada – Star Phoenix
Prairie housing markets to remain largely unscathed: TD Economics

A map displaying the boundaries of Saskatoon real estate areas is here.
An overview of data collection and calculation practices for our statistical reports is here.

Get the most current market intelligence with our FREE Market Snapshot including prices of homes recently sold in your area. Get it here, now.

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.

Norm Fisher
Royal LePage Saskatoon Real Estate

Grouse Grind raises over $25,000 for women's shelters

I wrote you last week about a special fundraiser that I was scheduled to participate in on Wednesday, September 19 and I wanted to let you know of the results.

A group of sixty agents, assembled in Vancouver for our company’s national sales conference joined forces to raise funds for the Royal LePage Shelter Foundation by hiking the Grouse Grind. The event was organized by my colleague Sebastian Albrecht and his wife Bess. Sebastian happens to hold the world record for the most ascents of the mountain in a single day. He climbed Grouse Grind fourteen times over sixteen hours back in 2010.

Having now climbed it just once, I have some appreciation for the magnitude of Sebastian’s accomplishment. I found a single climb to be a huge challenge, one which I will never forget and one which I hope to experience again.

My thanks to Sebastian and Bess for organizing the grind and for bringing this wonderful experience to my life.

I had hoped to chronicle my climb in video snips. I didn’t get too far in before I realized I just couldn’t do that without dramatically affecting my climb time. It very quickly became difficult to operate the camera without stopping for a rest, something I really didn’t want to do. I came to give the grind my best effort. Here are the before and afters in a brief video.

My time was 1:01:13.

Speaking of time, it’s not too late to donate to this great cause. You can do that here if you’d like to.

My friends stepped up and contributed $2,400 to the event. Collectively, our group raised over $25,000 for the Royal LePage Shelter Foundation. Thanks to all who contributed. While I am appreciative of every bit of support, financial and otherwise, I am especially touched by the generosity of those in the Saskatoon real estate community (my competitors, essentially) who helped with the cause. Thank you all.

Pauline Perpick
Pat Tymchatyn
Patti Haubrich
Daryl Miller
Brenda and Calvin Taylor
Ed Wojcichowsky
Riel Syrenne
Lana Stark
Becky Laliberté
Regan MacNamee
Kim Newransky
Kevin Goyer
Chris Dagenais
Lyndon Neher
Kelly Kowalchuk
Lionel Betker
Maria Trakadas
Jacqueline Dolynny
Jerry Andreas
Grace Tuck
David and Julie Cortens
Heather Daverne and Dave Scharf
Brian J Taylor
Kevin Cross
Caroline Bickle
Darwin Dolgopol
Don McIvor
Barry Willick
Dean Hartley
Ron Thompson
Leo Morrison
Diane Crawford
Kerry Clarke
Joseph and Charmaine Taylor
John and Norene Penner
Sharon Cybulski
Derek Watson
Cec and Richard Willick
Don Garvie
John Stickel

Thanks again to all of you. I appreciate it so much and I promise that your contributions will be put to good use.

Norm Fisher

Saskatoon real estate week in review: September 16-22, 2012

Saskatoon real estate agents had another strong sales week as a total of 84 house and condo deals were reported to our MLS®, down four units compared against the previous week and below sales recorded during the same week last year by one.

New listings slowed from last week slipping by fourteen properties to finish higher on a year-over-year basis, also by fourteen homes.

Click the image for a larger version of the graph.

For the fourth consecutive week the inventory of Saskatoon homes on the multiple listing service® remained stable at 1199, further closing the annual decline of MLS® listings to just 93 properties, the smallest that it’s been since February of this year. At the close of the week, Saskatoon home buyers had 736 single-family homes and 391 condos to choose from. Last year at this time, those two categories showed units 772 and 458 respectively.

Click the image for a larger version of the graph.

Following on a tumble of roughly ten percent last week, the weekly median price of a Saskatoon home slipped even further to just $300,000 as the average sale price of a Saskatoon home plunged to its lowest point since March and reached $306,539. The six-week average price edged lower again, dropping about eight thousand dollars from last week to $337,710 to maintain an annual increase of more than thirty thousand dollars. The four-week median price slipped close to seven thousand dollars compared to the previous week and finished higher than it was a year ago by just over $18,000.

Click the image for a larger version of the graph.

Overbid sales made a significant comeback as eight home buyers paid a price greater than the seller had asked by an average of $5,886. Another seven sellers received a full price offer while 68 of this week’s 84 sales showed a price below the asking price by an average of $8,907.

Other notable MLS® activity this week included 35 cancelled and withdrawn listings,  21 expired listings and 42 price adjustments.

Click the image for a larger version of the chart.

Highlights from the news this past week

Canada’s housing market cools – Globe and Mail
CREA cuts home sales forecast for this year and next – Financial Post
What a softening housing market means for the Big Six – Globe and Mail
Housing correction underway in Canada, ‘soft landing’ likely: bankers – Financial Post
Housing market correction ‘appears to be under way’ – Globe and Mail
House price overvaluation fading: TD – Globe and Mail
Home prices see weakest August increase in 12 years – Globe and Mail
The real estate market shifts gear, but prices hold fast – Globe and Mail
Risk of Canadian housing bubble appears to be easing, Fitch says – Globe and Mail
Canada heading into a slow-motion version of the U.S. bust: Shiller – Financial Post
Single home buyers face greater headwinds than couples – Globe and Mail
Cooling Canadian housing market a good thing for banks: Fitch – Financial Post
Is Canada’s housing market cooling or crashing? – Globe and Mail
Housing market cool down widespread across Canada – Financial Post

A map displaying the boundaries of Saskatoon real estate areas is here.
An overview of data collection and calculation practices for our statistical reports is here.

Get the most current market intelligence with our FREE Market Snapshot including prices of homes recently sold in your area. Get it here, now.

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.

Norm Fisher
Royal LePage Saskatoon Real Estate

I'm climbing a mountain today! What are you up to?

Good morning!

I’m doing something later today that has me kind of excited and I’m hoping that it may be of interest to you. If it is, great!. If not, no worries.

Later this afternoon I, with a group of friends, will take the grueling three kilometre trek up Grouse Mountain in beautiful Vancouver, BC to raise money for the Royal LePage Shelter Foundation, the largest charity of its kind, dedicated to supporting shelters for women who are suffering abuse, and violence prevention programs. They call this trail “the Grind” as it’s well known for tearing legs apart. It should be fun! I feel prepared physically.

Did you know that violence against women is still a major problem, even in Canada? Every year, hundreds of women are victims of domestic violence. Some of them stay in that messy and very dangerous situation because they simply don’t feel that they have a safe place to go to get away from it. Should you choose to support my effort today, every nickel of your donation will end up at a shelter that provides safe haven to women facing these challenges.

So whadya say? If you have anything left in this year’s charity budget I’d sure appreciate the consideration. If you want to give big, do it! If you want to throw ten bucks our way we’ll be super proud to carry it to the top of Grouse Mountain on your behalf and put it to work changing lives.

Here’s what I need you to do.

Click this link http://www.tinyurl.com/chv4j59
Click the “make a donation” link on the left side of the page
Fill out the form and click the “next” button at the bottom of the page
Confirm how you’d like your name to appear and write a really encouraging note to help me up the mountain, then click next.
Review the details of your donation and comfirm the transaction.

I promise, it doesn’t take nearly as long as it might seem.

If you’ve already donated to my campaign, thank you so much for the support.

Thanks for your time and consideration.

Norm

Canadian home sales decline in August, 2012: CREA

The Canadian Real Estate Association (CREA), released national sales statistics for the month of August, 2012 today. According to CREA, the number of home sales processed through the MLS® Systems of real estate Boards and Associations in Canada fell 5.8 per cent between July and August 2012, marking the largest month-over-month decline since June 2010.

Highlights of CREA’s report    

  • Home sales down 5.8% from July to August.
  • Actual (not seasonally adjusted) activity stood 8.9% below levels in August 2011.
  • Number of newly listed homes down 1.7% from July to August.
  • Housing market remains firmly in balanced territory at the national level.
  • National average home price up 0.3% on a year-over-year basis in August.
  • The Composite Aggregate Benchmark home price was up 4% in August, its smallest gain in over a year.

Read the entire report on Canadian MLS sales for August 2012.

Get the most current market intelligence with our FREE Market Snapshot including prices of homes recently sold in your area. Get it here, now.

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.

Norm Fisher
Royal LePage Saskatoon Real Estate