Saskatoon real estate: Week in review (March 12-16 2007)

Saskatoon home buyers found little relief from pressured prices this past week. While the percentage of homes which sold at or above their list price declined from 70% to 61%, the average overbid in instances where homes sold over list price increased to $14,155 from $12,144 the week before.


Area 4 had the lowest percentage of over list sellers with 60% of homes selling at a bit of a discount. The average overbid dropped from $9,100 to just $5,917.


Area 5, where housing inventories remain tightest, showed an average overbid of $18,767, a big increase from $13,975 the week before. Here are the numbers.


Saskatoon Real estate week in review

One doesn’t have to look far to see frustrated home buyers and exhausted agents. I can’t help but think this market is taking its toll. A number of buyers wondered out loud if they should just give up as their continued efforts to get into the Saskatoon housing market continued to deliver no results.


I am also ready for a little relief but there seems to be no end in sight. There are 236 active MLS® listings of condos and houses on the market today, which I believe is a record low.


Anyone who is actively looking right now knows that the majority of those have conditional offers on them.

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 (March 5-9 2007)

The Saskatoon real estate market continued at a frenzied pace with average sale prices exceeding average asking prices in every area of the city. A full 70% of the 82 residential sales reported to the Saskatoon Multiple Listing Service® sold either at or above the asking price. The average “overbid” which was recorded in instances where a home sold above the asking price increased substantially to $12,144 from $6,950 the week before. Here’s an overview of the numbers.

Saskatoon real estate statistics for week ending March 9

Notable sales from last week include:

  • Lakeview condo sells $29,000 over list price at $132,000.
  • Lakeview bungalow sells $30,100 over list price at $218,000.
  • Erindale town home sells $30,100 over list price at $210,000.
  • City Park two and one half storey sells $41,100 over list price at $261,000.
  • City Park bungalow (720 square feet) sells $30,100 over list price at $210,000.

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 (February 26-March 2 2007)

Saskatoon residential unit sales increased to 93 homes this past week according to sales statistics from the Saskatoon real estate board.


The average selling price of a Saskatoon home was down close to $13,000 as a result of an unusually high level of activity in Area 4 where prices are generally lower than the other residential areas.


The percentage of homes which sold above the asking price increased to 43%, up from approximately 30% the previous week and 19% the week before that.


The average “overbid” also saw an increase to $6,950 from $6,037 the previous week, and $4,735 the week before that.

Saskatoon real estate week in review

February MLS® sales statistics were released Friday and if anyone has any doubt as to the state of the Saskatoon real estate market, this should clear things up. The dollar volume from residential sales increased a whopping 82% as compared to February, 2006. Residential unit sales were up 45% over last year to a total of 321 homes. The average selling price of a Saskatoon home increased 26% to $188,585.


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 (February 19-23 2007)

Here’s a brief statistical overview of residential sales as reported to the Saskatoon Real Estate Board MLS® system for the past week.


Notable changes over the previous week:


The percentage of listings which sold at the list price or above the list price increased from 48% to 56%.


The average selling price of a home exceeded the average listing price in four of five areas*.


The average overbid where listings sold over their list price increased 27% from $4,735 to $6,037.

Saskatoon real estate stats

Largest overbids

  • 864 square foot Lakeview condo sells 10% over list at $113,000.
  • 1,000 square foot Dundonald house sells 10% over list at $198,000.
  • 975 square foot City Park house sells 10% over list at $170,000.

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

What’s really happening in the Saskatoon real estate market?

If you’ve spoken to a Saskatoon real estate agent lately, you’ve undoubtedly been left with the impression that the market is hot, and it certainly is. It’s very easy to lose perspective though, because we most often hear the exceptional stories repeated.


You might have the impression that all homes listed are attracting offers in excess of the listed price and that’s simply not true. I thought I’d give you a bit of an overview of the sales activity from last week to give you a truer picture of what’s going on.


The following chart shows the total number of residential sales in each Saskatoon area (geographic definitions below) followed by the number of homes which sold below the asking price, at the asking price and above the asking price.


The next chart shows the average list price, average sale price, and the average overbid where homes sold above the asking price.


Recent Saskatoon real estate activity

Even I was surprised to find that over 50% of residential listings are still selling below the list price, though marginally. Fewer than 25% are actually selling above the list price. It’s very clear that on average seller’s are receiving offers which are very close to the asking price but you can’t assume that you’ll need to pay more than list for every Saskatoon real estate listing.


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