Saskatoon real estate: Week in review (December 3-7 2007)

Activity in the Saskatoon real estate market this week followed the same cooling trend as the weather. The total number of homes sold dropped to just 48 units, down from 78 last week. This is more or less what we would expect as we move into December. I’m only surprised because the number of inquiries that we’re receiving on our listings is a fair bit higher than we might expect as we move towards the holiday season. The phone is ringing a lot.


Inventory held steady at 540 residential properties. At week’s end there are 290 single family homes and 194 condos showing an “open” status on the Saskatoon Multiple Listing Service.


While 5 of 48 homes managed an above list price sale, the average overbid was unremarkable at just $540 and the highest of them all topped out at $1,200. The vast majority of purchasers managed to negotiate a deal averaging close to $7,000 below list.


Saskatoon real estate: Week in review (December 3-7)

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 (November 23-30 2007)

The active stock of Saskatoon real estate listings took a significant hit this week, falling to just 543 properties, a decrease of 70 units from last week. Only 487 of those properties are single-family homes (304) and condos (183). A meager total of just 64 new residential listings were offered up for sale, while 78 Saskatoon homes traded hands.


Still, buyers managed to negotiate with sellers and a full 83% of the homes which sold brought prices which were below the asking price by an average of $7,782.


Overbidding was non-existent on Saskatoon’s west end, and not much of a factor in the north and east where only 8 properties fetched prices above list price. I should mention that I did massage these figures slightly this week. One condo, in the Rumley project, was reported as selling approximately $90,000 above the list price. This tweaked my interest and prompted a call to the listing agent. She tells me that the additional dollars reflect upgrades that the buyer chose to have added and that the selling price matches what would have been the asking price had these upgrades been included with the original listing. I was amazed to learn that 9 condos have already been sold in this project fetching prices from around $550K to almost one million dollars.


Saskatoon real estate: Week in review (November 23-30)

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 (November 19-23 2007)

The Saskatoon real estate market continued along at a fairly typical fall pace this week. Sales of houses and condominiums showed a marginal increase over last week but new listings also posted some gains. Overall, the active residential listing inventory fell by 12 units to 613 properties, the lowest number we’ve seen since it peaked at 689 homes the week of October 22-26.


Average selling prices were lower in all areas, except area 5 which experienced a new high of $245,677. Across all five areas, the average selling price remained just slightly above the quarter million dollar mark.


While the percentage of homes which sold above list price was not particularly significant, the average overbid ($17,249) was the highest we’ve seen since the week of October 1-5, and was driven up by just a couple of sales. A Haultain area bungalow sold more than $40,000 above asking price, and a Hampton Village bi-level was reported sold at $54,100 above list.


Saskatoon home buyers were able to negotiate some dollars off of the asking price on 58 of 73 sales, but the average underbid ($7,947) fell after three consecutive weeks above the $10,000 mark.


Saskatoon real estate: Week in review (November 19-23)

Here’s a bit of an update of some specific sales in various areas of the city.


  • An Arbor Creek bungalow of just less than 1,100 square feet with a double attached garage goes for $345,000.
  • Erindale two-storey which is close to 2,200 square feet with a double attached garage sells for $395,000
  • East College Park bungalow at 1,250 feet with a double detached garage for $290,000.
  • A Wildwood condo of 800 square feet sells for $165,000.
  • A Stonebridge two-storey, just less than 2,200 square feet with a double attached garage sells for $575,000.
  • Area 2 bungalows in the 900-1100 square foot range sell between $260,000 and $310,000.
  • 1,300 square foot Lawson Heights bi-level with a double attached garage goes for $342,000.
  • 1,027 square foot Meadow Green bungalow in a decent spot, no garage brings $220,000.
  • Finally, one of those Meadow Green condos finds a buyer with a 660 square foot unit going for $114,900.
    Parkridge bungalow at 912 square feet with a double detached garage fetched $257,500.
  • A near new Confederation Park bungalow, just less than 1,200 square feet with no garage brings $245,000.

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 (November 12-16 2007)

Yet another week of Saskatoon real estate activity is behind us, and while the numbers look more or less similar to those that we’ve seen in recent weeks, there is at least one notable change which is worth pointing out. The “average overbid” column has finally lost almost all of its relevance. While there were still eight Saskatoon houses or condos which were reported as having sold above the asking price, the average amount at which they sold over list dropped to its lowest level this year at just $1,213. The total amount that these eight properties were over was only $9,700. Compare that to the first week in August when buyers paid a total of $1,244,138 more than asking price, or even to the week of October 15-19, which recorded the previous low number at $57,200. Things are definitely different.


On the other side of the market, where most properties sold for less than list price, successful sellers discounted their homes by a total of $540,200 and the “average underbid” was more than $10,000 for the third week in a row. Approximately 10% of the fifty properties which sold below list price accepted discounts of $20,000 or more, with a few approaching the $40,000 mark.


Even still, the average asking price and the average selling price of the Saskatoon homes which did trade bounced back in a serious way from last week, once again reaching their highest levels for 2007. It’s clear that buyers have many more options to choose from but they’re still willing to pay a premium price for a good property in a good location.


Saskatoon real estate: Week in review (November 12-16)

Buyers and sellers should both take great care to examine recent sales to ensure that they’re thinking is in the right ballpark. Obviously, buyers want to proceed with caution when there are homes on the market that are priced too high by $40,000, or more. Sellers would be wise to ensure that they avoid such drastic pricing errors. Properties which are grossly overpriced fail to attract much interest and often sell for less than they would have, had then been properly priced in the first place.

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 (November 5-9 2007)

New listings of Saskatoon houses and condos remained stable with those reported the previous week while total unit sales took a small step forward to 76 properties, from 71 the week before. While sale numbers are definitely weaker in recent weeks, the ratio of sales to new listings is strengthening and total active listings are once again on the decline. At the close of the week, the Saskatoon Multiple Listing Service® was showing just 652 active real estate listings, down from close to 690 just a couple of weeks ago. Still, active listings are approximately 50% higher than they were at this time last year.


The percentage of Saskatoon real estate listings selling above the asking price was up again but the average overbid fell to its lowest level since early March. Buyers managed to negotiate a downward deal on 71% of all reported homes sales, and on average, to the tune of more than $10,000. This is surely an indication that sellers are much more inclined to over price their homes, but they seem to understand that some negotiation may be required to close the deal.


The average selling price took a fairly big hit this week, primarily a result of more condo sales, and a pretty good handful of area 4 properties which sold below the $80,000 mark.


Saskatoon real estate: Week in review (November 5-9)

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