Saskatoon real estate: Week in review (May 14-18 2007)

If Saskatoon real estate buyers were holding out any hope that this market may have been starting to show signs of balancing, this week’s numbers provide a solid slap in the face and a reality check.


While there was some good news on the listings front when total actives briefly broke the 300 mark for the first time this year, and the largest number of new listings for any week this year came on the market, Saskatoon real estate agents also reported a record number of residential sales at 154 units.


Saskatoon home buyers continued to show their spirit and determination to get out of the market once and for all bringing offers over the list price on a full 75% of homes listed. The average overbid for all Saskatoon homes reached its highest average once again at $27,156.


Here’s a look at the numbers.

Here are a few of the more notable sales from last week.


  • Showy Forest Grove bi-level at 1,100 square feet with no garage goes for $310,500.
  • Lakeridge two-storey (1,726’) sells for $370,000. This is only remarkable because it also sold in 2003 for $182,000 and provides a pretty clear picture of what’s happening to Saskatoon property values.
  • More than one, one bedroom condo in the 735’ range sells in the 180’s.
  • Cute little (900’) Queen Elizabeth bungalow with a legal suite and no garage sells $62,000 over list at $270,000.
  • Large (1,584’) Montgomery Place bungalow goes $20,000 under list at $269,900. This one is a bit baffling as it has a double garage, large lot and some nice upgrades. It was left open for offers for one full week. Perhaps the best buyers for this home found something else in the mean time.

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 (May 7-11 2007)

It was another interesting week in the Saskatoon real estate market. For the second week in a row, new listings outpaced sales and active listings reached their highest level since mid-December of last year. Today, there are 292 Saskatoon houses and condominiums with an “active” status on the Saskatoon MLS®.


The number of homes reported sold also dropped fairly significantly when compared to recent weeks at just 86 units.


You might expect that fewer sales and more listings would add up to a bit of a break from home buyers but that doesn’t seem to be the case. In fact, the percentage of listings which sold above the asking price reached a new high of 77% when looking at all major Saskatoon real estate areas. East side home sellers hit the overbid jackpot with 87% of homes reported sold going for more than the asking price.


Average overbids topped $25,000 in all five areas, a first since I started publishing the “Week in review” back in the middle of February. The average overbid reached its highest level yet at $26,313.


Here’s a look at the numbers from last week.

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 (April 30 – May 4 2007)

A total of 136 new residential listing came on the market last week outpacing unit sales by about 10%. Saskatoon real estate agents reported a total of 123 sales of single-family homes and condominiums over the same period.


The average selling price of a Saskatoon home was $13,000 lower this past week at $222,150 compared to $235,345 the week before. The majority of listings continued to attract multiple offers and over bids to the tune of $25,688 on average.


Buyers might take some comfort in the fact that this weeks sales sheet looks a lot like the one from the week before. I see fewer numbers of sales which are really “remarkable.” Most weeks there have been a quite a number of sales which appear to have broken new ground but this past week it seems that prices may have been fairly level.


It’s also interesting to note that in Area 4, only 50% of sales reported where over list price. That’s the first time we’ve seen that in quite a while. Often times a softening in the core areas is a first indication that the market may level out some. Could it be a sign of things to come?


Here’s a quick look at the numbers from last week.


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 (April 23-27 2007)

New residential listings dropped to 103 units this past week, compared to 122 the week before, and once again, unit sales marginally outpaced new listing activity. 109 single family homes and condominiums where reported sold on the Saskatoon MLS®.


The percentage of homes which sold at the list price or above the list price saw a bit of an increase to approximately 83%. The average overbid was $22,798 including all areas of Saskatoon. Area 3, where the average over bid reached $38,600 proved to be the toughest spot for buyers to make a deal.


Here’s a look at the numbers.

Notable sales.


  • Forest Grove 4 level split at 1,140 square feet with a double garage was listed at $267,800 and sells for $346,000.
  • Nutana Park bungalow at 995 square feet with no garage was listed at $224,900 and brings $275,000.
  • Silverwood 4 level split at 958 square feet with a double attached garage listed at $234,900 sells for $285,000.
  • Hudson Bay Park bi-level measuring 1,176 square feet with a single garage sells for $290,500.
  • Varsity View bungalow at 760 square feet and needing a ton of work was listed at $179,900 sells for $165,000 after 23 days on the market.
  • Buena Vista bungalow of just 560 square feet sells 10K under at $100,000. Again, the property appeared to be pretty rough.

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 (April 16-20 2007)

A total of 122 new residential listings hit the Saskatoon real estate market this past week, while 118 homes were reported sold on the Saskatoon MLS®. Close to 80% of those units sold at or above their list price. Properties which sold above list price attracted offers which were on average, $23,403 higher than the asking price. Area 5 recorded the lowest average over bid at $15,761 while buyers of Area 3 homes came in at an average of $34,122 over asking price.


Here’s a quick look at the numbers.

A total of 122 new residential listings hit the Saskatoon real estate market this past week, while 118 homes were reported sold on the Saskatoon MLS®.  Close to 80% of those units sold at or above their list price.  Properties which sold above list price attracted offers which were on average, $23,403 higher than the asking price.  Area 5 recorded the lowest average over bid at $15,761 while buyers of Area 3 homes came in at an average of $34,122 over asking price.

Notable sales

  • Parkridge 4 level split (1,030’) with double garage goes $41,000 over at $261,000.
  • Lakeview condo (953’) in wood-frame, walk up sells for $172,000.
  • Sutherland bungalow (858’) with no garage at $232,000.
  • College Park 4 level split (1,250’) with double garage sells $40,000 over at $340,000.
  • Nutana bungalow (877’) in need of updating tops quarter million at $254,200.
  • Nutana bungalow on 30’ x 140’ lot with a river view sells $47,000 under list. Priced at $449,000, this would have been a tough sell at only 1,080 square feet.
  • Montgomery 2 storey (1,880’) sells $20,000 under list price after a month on the market, slowed primarily by its “cottage-like” look which has limited appeal in urban areas.

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