CBC News covers Royal LePage Vidorra's 3D Scanner

Just sharing the video from the CBC television news story that ran recently about Royal LePage Vidorra’s 3D scanner that its agents are using to capture and display interior spaces. Pretty cool stuff.

Take a virtual walk through of this Daytona Homes show home to experience it for yourself. Think Google street view as you work your way through the home by clicking the circles. It works exceptionally well on mobile devices.

If you’re interested in having your home marketed using this technology reach out to anyone on our team.

Norm Fisher
Royal LePage Vidorra

Saskatoon real estate week in review: April 19-25, 2015

For the second consecutive week, the Saskatoon real estate market recorded sales in the triple digits. Over the past week 104 residential sales were reported to the multiple listing service®, down 13 from the previous week, and lower than the number reported during the same week last year by seven homes.

New listings continued to flow on to the market in strong numbers. Local REALTORS® brought 214 properties to the MLS®, down by 48 compared to last week, for a year-over-year increase of 58 Saskatoon homes when compared against the same period last year.

Click the image for a larger version of the graph.

Saskatoon real estate sales and listings for the week of April 19-25, 2015

The inventory of active MLS® listings available to buyers crossed the 1900 mark for the first time ever as business would done on Friday. Today we’re sitting at 1901, up 32 units from the previous week’s close for a 510 until year-over-year expansion of the database. The number of available detached houses closed to week at 1062 up from 847 a year ago. The number of available condos is at 641, up from 434 at the close of the same week last year.

Click the image for a larger version of the graph.

Active listings of Saskatoon homes at April 25, 2015

Just a slightly greater level of upper end sales pushed the weekly median price up nearly six thousand to $348,250 even as the average sale price for the week slipped lower to $346,000. The longer terms measures took some gains. The six-week average grew by about $2,600 from last week to reach $346,621 for an annual decrease of four thousand dollars. Meanwhile, the four-week median price took it’s third consecutive increase as it reached $337,000 to find itself down by 4K from a year ago.

Click the image for a larger version of the graph.

Average and median prices of Saskatoon homes sold April 19-25, 2014

Eight lucky sellers found themselves dealing with a buyer willing to pay more than their asking price with an average bonus of $9,013. On the other side of the negotiating table 87 buyers made a below list offer and closed the deal with an average discount of $9,418. The remaining nine deals closed at the seller’s asking price.

Click the image for a larger version of the chart.

Saskatoon real estate statistics for MLS sales from April 19-25, 2015

Other notable real estate activity this past week included 82 cancelled and withdrawn listings (75 and seven respectively), 17 expired listings and 91 price changes.

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 Vidorra

Saskatoon real estate week in review: April 12-18, 2015

And kaboom!

Suddenly, like it came out of nowhere, the Saskatoon residential real estate market recorded an exceptionally strong sales week with a total of 117 home sales firming up delivering the highest volume sales week since late June of 2014. This is the first week during which sales exceeded 100 units this year, leaving some feeling hopeful that April sales might come around and that the dismal sales numbers recorded over the first half of the month are now in the rear view mirror. This week’s sales are up by 51 units over last week and exceed sales reported during the same week last year by 26.

Saskatoon real estate agents were not just kept busy selling homes. They listed up a storm over the week as well adding 262 Saskatoon homes to the multiple listing service® to produce what appears to be a new high for weekly listing. I see a 253 in last year’s numbers but no other weeks that reached 262 in the past five years. That number is higher than listings brought in last week by 49 and up on the same week a year ago by 73.

Click the image for a larger version of the graph.

Saskatoon real estate sales and listing through MLS April 12-18, 2015

The total inventory of Saskatoon homes listed for sale on the MLS® continued to grow as it climbed from 1827 last week to 1869 by the close of business Friday leaving us up on numbers recorded at this time last year by 463. A closer look by category shows 1067 single-family homes, up about 22 percent from a year ago when 860 houses were offered for sale in Saskatoon. Condos, on the other hand, show a 44 percent annual increase with 628 units being offered for sale, up from 427 at this time last year.

Click the image for a larger version of the graph.

Active MLS listings (residential) in Saskatoon at April 18, 2015

Prices were up this week as three of the four measures that we look at made gains. A little more activity at the lower end of the market brought the median price paid for a Saskatoon home down about 5K to $342,500 while the average price made some gains to $361,874. After six consecutive weeks of declines, the six-week average price took its first upward movement to grow by four thousand dollars from last week reaching $344,050 to find itself down about ten thousand dollars from where it sat a year ago. The four-week median price edged up to $335,000 for a weekly increase of two thousand dollars and an annual loss of $12,500.

Click the image for a larger version of the graph.

Average and median prices paid for Saskatoon homes sold April 12-18, 2015

Some signs of a bit of spring heat can be seen in the weekly overbid numbers which came in at 13 this week, the highest number we’ve seen in months. The average overbid was $20,944 which was impacted by new home sales that included after market extras not included in the asking price. On the flip side, 93 Saskatoon home buyers managed to finish their deal with a discount averaging $10,498. The remaining ten transactions closed at the seller’s asking price.

Click the image for a larger version of the chart.

Saskatoon real estate statistics for MLS sales April 12-18, 2015

Other notable real estate activity this past week included 72 cancelled and withdrawn listings (64 and eight respectively), 24 expired listings and 59 price changes.

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 Vidorra

Norm Fisher discusses changes to the Saskatoon real estate market with Global news

This is video from an interview that I did with Global News following the release of the Royal LePage House Price Survey for the first quarter of 2015.

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 Vidorra

Saskatoon real estate market experiences soft landing in Q1-2015: Royal LePage

 SASKATOON, April 15, 2015 – The Royal LePage House Price Survey released today showed mixed year-over-year results in the major housing types surveyed in Saskatoon.

Standard two-storey homes and detached bungalows prices remained relatively flat, increasing 0.6 per cent year-over-year to $396,000 and 0.5 per cent to 365,750, respectively. Meanwhile, standard condominiums prices experienced a steadier increase of 4.5 per cent to $277,000 over the same period.

“We saw a record year in Saskatoon in 2014, and are now experiencing a cooling off where prices are increasing, but at a drastically slower rate,” said Norm Fisher, broker and owner, Royal LePage Vidorra. “The exception is in the condominium category, which has been bumped up by a collection of new units making their way onto the market during the quarter.”

“Among the detached bungalow and standard two-storey homes categories we have seen a slight dip in unit sales and a considerable increase in available inventory when compared to this time last year. In fact, the number of available residential units is sitting at near record numbers,” he added.

Fisher isn’t deterred by current market conditions as he sees the wealth of inventory enticing buyers who want to take advantage of attractive prices in the spring market and expects activity to ultimately be in line with the five-year average for sales.

Nationally, Canada’s real estate market is experiencing a soft landing, characterized by slower than normal home price increases. Much higher price increases were observed in the country’s two largest urban markets, which combined to send the national average values upwards, partially obscuring the broader national trend.

During the quarter, the average price of a home in Canada rose between 3.8 per cent and 6.6 per cent year-over-year in the first quarter. When broken out by housing type, the survey showed a year-over-year average price increase of 5.3 per cent to $451,463 for standard two-storey homes, while detached bungalows rose 6.6 per cent to $405,895. During the same period, the average price of standard condominiums climbed 3.8 per cent to $261,782.

The steady softening of prices in most markets across the country was first observed in the mid-year 2014 Royal LePage House Price Survey. In recent months, two unanticipated factors disrupted the natural housing price cycle: the steep decline in oil prices late in 2014 and the Bank of Canada’s subsequent reaction in lowering the overnight rate early in 2015.

“Canadian home buyers, with the last decade’s recession still top of mind, have been very sensitive to shifting, broad economic factors. The oil shock has been unsettling for the national economy, consumer confidence and by extension, the housing market,” said Phil Soper, president and chief executive, Royal LePage.  “That said, lower prices at the pump and the confidence boosting move by the central bank to lower interest rates have been supportive. With these factors combined, we have a soft-landing for housing after several years of robust expansion. We define a soft-landing as a market in which home prices are flat or increasing slightly, giving the economy and family incomes, a chance to catch up.”

“On balance, we believe we will not be seeing the kind of appreciation observed over the last three years any time soon, as markets work through the current cycle and align with broader economic conditions,” continued Soper. “In terms of downside risk, we do not foresee a sharp decline in home prices, particularly in today’s low interest rate environment.”

About the Royal LePage House Price Survey

The Royal LePage House Price Survey is the largest, most comprehensive study of its kind in Canada, with information on seven types of housing in over 250 neighbourhoods from coast to coast. This release references an abbreviated version of the survey which highlights house price trends for the three most common types of housing in Canada in 90 communities across the country. A complete database of past and present surveys is available on the Royal LePage website at www.royallepage.ca. Current figures will be updated following the complete tabulation of the data for the first quarter of 2015. A printable version of the first quarter 2015 survey will be available online on May 15, 2015. Housing values in the Royal LePage House Price Survey are Royal LePage opinions of fair market value in each location, based on local data and market knowledge provided by Royal LePage residential real estate experts.

About Royal LePage

Serving Canadians since 1913, Royal LePage is the country’s leading provider of services to real estate brokerages, with a network of over 16,000 real estate professionals in more than 600 locations nationwide. Royal LePage is the only Canadian real estate company to have its own charitable foundation, the Royal LePage Shelter Foundation, dedicated to supporting women’s and children’s shelters and educational programs aimed at ending domestic violence. Royal LePage is a Brookfield Real Estate Services Inc. company, a TSX-listed corporation trading under the symbol TSX:BRE.