Produced by Force Four Entertainment Inc., Urban Suburban is hosted by real estate agents and siblings Sarah Daniels and Philip DuMoulin. In each half-hour episode a family or couple that can’t agree between a home in the city or one in the suburbs turn to Sarah and Philip who go head-to-head to find the properties that they think their clients will love. Sarah takes on the suburbs while Philip champions the city, and after touring homes the buyers pick their urban or suburban favourites by factoring in price, space, convenience and lifestyle. Eventually, they decide on the perfect home and neighbourhood for their needs – and either Sarah or Philip will come out a winner.

How intense!

Are you interested in being on the show?

Start by sending an email to casting@forcefour.com with the following:

• The reason for your move.
• Areas that you’re considering and why.
• Your approximate budget.
• A photo of your family.
• Your contact information.

Break a leg there, superstar!

Norm Fisher
Royal LePage Saskatoon Real Estate

343 Coldspring Crescent has many impressive upgrades including hardwood floors through much of the main level, upgraded windows, a high-efficiency furnace and a wonderful low-maintenance back yard with a large deck.

More details at www.343Coldspring.com or see the mobile version here.

Like to take a look in person? Your Saskatoon Realtor can arrange to show you this MLS listing. If you don’t have an agent we’d be happy to make the arrangements. Drop me a note or give me a call. My contact info is here.

If this home isn’t for you be sure to visit our Search Saskatoon Homes page where you can search all Saskatoon MLS listings. Updated several times a day, it’s the most current data stream of Saskatoon homes listed for sale available.

Norm Fisher
Royal LePage Saskatoon Real Estate

New listings added to the inventory of the Saskatoon multiple listing service slid from the lofty levels recorded the previous week, falling by 30 properties to 154 to finish just slightly lower than the same week from the previous year when 157 Saskatoon homes were introduced to the system.

Click the image for a larger version of the graph.

Following a week that saw a needed bump to the total inventory of active MLS listings in the residential category, inventory growth sputtered but inched higher growing by just 13 units over the week to reach 1203 properties, down from 1380 at the close of the same week in 2011. Today’s totals show 726 single-family homes and 403 condominiums available to Saskatoon real estate buyers. At this time last year, those numbers stood at 804 and 502 respectively. This would be the first time that the inventory of available Saskatoon condos has been above the 400 mark this year but it’s still twenty percent lower than it was a year ago.

Click the image for a larger version of the graph.

The average selling price of a Saskatoon home moved higher once again reaching $349,414 this week. The median sale price for the week moved in the opposite direction slipping nearly eight thousand dollars to settle at $311,250. After five consecutive weeks of growth at record levels, the six-week average selling price of a Saskatoon home slipped lower falling a bit more than four thousand dollars from the previous week to $342,038 for an annual gain of about twenty-three thousand dollars. The four-week median price slipped a little more falling fifty-three hundred dollars from last week to $317,900 for annual growth of about eleven thousand dollars. Over the past few weeks the annual gains to the four-week median have been moderating, coming in at about half the amount that we’d been seeing through most of the first few months of the year.

Click the image for a larger version of the graph.

The number of Saskatoon homes that traded for more than the asking price moved higher again reaching 11 this week. On average, the buyers involved in those deals paid the seller an extra $4,777 to walk away with the home they wanted. By contrast, 86 of the 105 closed transactions recorded on Saskatoon’s MLS system this week reported a price that was below the list price by an average of $10,823. Another eight home sellers made off with their full asking price.

Other notable Saskatoon real estate activity this week includes 39 cancelled and withdrawn listings, just 9 properties that expired from the system without a sale and 45 price changes.

Click the image for a larger version of the chart.

Highlights from the news this past week

Why now might be a good time to sell your home – Globe and Mail
Average Canadian home prices edge higher – Globe and Mail
Canadian banks not immune to housing bubble: OSFI official – Financial Post
Luxury home sales up in first quarter: Remax – Financial Post
Privatized CMHC doable: Flaherty – Canadian Real Estate Magazine
Plans submitted for megaproject – Star Phoenix
When does it make sense to pay more for a mortgage? - Globe and Mail
Canadian Recreational Property Buyers Looking To Renters To Make Dream Of Ownership A Reality – Royal LePage Recreation Property Report
In a hot, hot housing market, what’s fair and what’s foul – Globe and Mail
Half of Canadians plan to retire with a mortgage – Financial Post
Don’t count on your home to fund your retirement – Globe and Mail

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

More details at www.2502Munroe.com or see the mobile version here.

Like to take a look in person? Your Saskatoon Realtor can arrange to show you this MLS listing. If you don’t have an agent we’d be happy to make the arrangements. Drop me a note or give me a call. My contact info is here.

If this home isn’t for you be sure to visit our Search Saskatoon Homes page where you can search all Saskatoon MLS listings. Updated several times a day, it’s the most current data stream of Saskatoon homes listed for sale available.

Norm Fisher
Royal LePage Saskatoon Real Estate

Highlights from CREA’s release

• Home sales up 0.8% from March to April.
• Actual (not seasonally adjusted) activity stood 11.5% above levels in April 2011.
• The size of the year-over-year increase reflects a slowdown in sales last April following changes to mortgage rules which came into effect on March 18, 2011.
• The number of newly listed homes edged back 0.2% from March to April.
• While still well balanced, the combination of stable new listings and slightly higher sales activity resulted in a tighter national housing market.
• The national average home price edged up 0.9% on a year-over-year basis in April.

Read the complete release here.

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.

Our Saskatoon home search tool offers MLS® listings represented by all real estate brands, presented with more detail than you’ll find anywhere else. Check it out here.

Norm Fisher
Royal LePage Saskatoon Real Estate

The wind presented the odd challenge, and the odd bit of breakage, but the sun shone and people arrived to buy. Thanks to those who participated in that way as well.

Those of us who were working the sale had a great time meeting people who generously paid for the few items they wanted to take home. By the end of the five-hour event, we were about $3,700 in the black, not a bad haul when you’re dealing with revenue that comes in as quarters, loonies and toonies. That money will be donated to the YWCA Crisis Shelter and Interval House where it will go to work helping woman and kids who have experienced abuse at home make a fresh start in a safe place. Again, thank you so much.

Similar efforts were conducted at Royal LePage offices across the country. When we have a total tally of proceeds raised, we’ll let you know.

The Royal LePage Shelter Foundation is Canada’s largest public foundation dedicated exclusively to funding women’s shelters and violence prevention and education programs. Administrative costs of operation are underwritten by Royal LePage so 100% of proceeds raised through commission based donations from agents, and community events like our garage sale and our funspiel go directly to the shelters we support. Since its inception, Royal LePage agents and brokers have contributed or raised over $14 million to help end family violence for more than 30,000 women and children who take refuge in a shelter each year.

If you missed out on the sale and would like to make a financial contribution, however large or small, you can do so at the Shelter Foundation website.

Thanks again,

Norm Fisher
Royal LePage Saskatoon Real Estate

New listings numbers came in very strong this week. In fact, they once again reached their second highest weekly level for the year as 184 houses and condominiums hit the market, to see an increase of five compared to last week and a whopping gain of 65 units compared against the same week in 2011.

Click the image for a larger version of the graph.

The total inventory of active MLS® listings in the residential category saw its first significant gain in weeks as that number pushed higher by 58 units from last week to reach 1,190 properties. That leaves us roughly 150 units shy, or about ten percent off of inventory levels recorded on the same date last year. Today’s active listing searches show 714 single-family homes (houses) and 397 condominiums bearing an “active” status. Last year, at this time, those numbers sat at 786 and 486 respectively.

Click the image for a larger version of the graph.

The average selling price of a Saskatoon home surged higher over the previous week gaining almost 20K to reach $337,459. The median sale price took the same direction but capped its gains at 18K reaching $318,900. For the fourth consecutive week, the six-week average selling price of a Saskatoon home reached a new record high. This past week, it grew by about twenty-five hundred dollars to finish the week at $346,386 and claimed an annual gain of just over thirty thousand dollars. The four-week median price slipped two thousand dollars from the previous week to $323,000 to put it $14,500 higher than it was one year ago.

Click the image for a larger version of the graph.

Saskatoon homes that traded for more than the asking price inched marginally higher to seven. Those fortunate sellers managed to pick up an additional $3,861 above their asking price. Another 18 home sellers bagged a full price offer. Meanwhile, 71 of this week’s 96 sales required a sharper pencil for the seller. Those deals concluded below the asking price by an average of $8,776.

Other notable Saskatoon real estate activity on the multiple listing service® this week includes 36 cancelled and withdrawn listings, just 5 properties that expired from the system without a sale and 41 price changes.

Click the image for a larger version of the chart.

Highlights from the news this past week

Canadian condo craze gets crazier – Globe and Mail
RBC chief weighs in on housing bubble furor – Financial Post
Consumers rein in debt burden, but housing “overshooting’: CIBC – Globe and Mail
Buying a home with just 5% down? Make sure you love it – Globe and Mail
Would you sell your home to lock in profits before price drop? – Financial Post
New home prices rise 0.3% in March – Globe and Mail
Soaring value of building permits defies market expectations – Financial Post
Which Canadian property markets are at most risk? – Globe and Mail
Parties joust over job numbers – Star Phoenix

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

TeamFisher is excited to present 431 Nesslin Place. This wonderful family home offers a very open floor plan that is seldom seen in established areas like Lakeridge. The kitchen, dining area and living room are together in one huge, bright space.  The 5-bedroom, 3-bathroom home has seen extensive upgrades in recent years and shows beautifully.

Located on a quality cul-de-sac within easy walking distance of two elementary schools, and just 250 metres from Crocus Park, it’s a perfect family home.

More details at www.431Nesslin.com or see the mobile version here.

Like to take a look in person? Your Saskatoon Realtor can arrange to show you this MLS listing. If you don’t have an agent we’d be happy to make the arrangements. Drop me a note or give me a call. My contact info is here.

If this home isn’t for you be sure to visit our Search Saskatoon Homes page where you can search all Saskatoon MLS listings. Updated several times a day, it’s the most current data stream of Saskatoon homes listed for sale available.

Norm Fisher
Royal LePage Saskatoon Real Estate

This week, a total of 109 single-family homes and condominiums were reported sold to the Saskatoon MLS® system, the second highest number for any week this year. That amounts to a gain of 18 units compared against the previous week’s sales, and it’s also up by the same amount when compared against sales reported for the same week in 2011.

New listings were also at their second highest weekly level for the year at 179, up 34 from the previous week and higher than the total number of Saskatoon homes offered for sale on the market during the same week a year ago by 15. For eight of the ten previous weeks, new listings have tracked year-over-year gains.

Click the image for a larger version of the graph.

Still, gains to the inventory of active MLS® listings in the residential category are sluggish at best as it grew just twelve units this week to 1132 and finished the week lower on a year-over-year basis by almost 200 homes. In fact, residential inventory listed on the Saskatoon multiple listing service® is at its lowest point in nearly four years for the time of year. It’s been that way for about six weeks. If the current trend continues we may be headed for the lowest levels of inventory since 2007 when supply diminished to almost nothing. There doesn’t appear to be any realistic chance that we’ll see the very low levels of 2007 again, but supply is softening while demand appears to be increasing.  At present, there are 677 single-family homes and 383 condominiums displaying an active status on the system. That compares to 774 and 490 respectively at the same point in time during 2011.

Click the image for a larger version of the graph.

The average sale price of a Saskatoon home took a significant slide this week when compared against the last, finishing lower by about $35K at $318,778. With far fewer weekly sales above the $500,000 mark, and a handful more below $200,000 the weekly median fell even more as it slid more than $40,000 to close at just $302,000 for the week. At the same time, the six-week average sale price managed to inch up a little more than a thousand dollars from last week to close at a new record high of $343,821 and record an annual gain of more than $27,000. The four-week median took a serious slide dropping almost $15,000 from the previous week to finish at $325,000 for a year-over-year gain of just $12,500.

Click the image for a larger version of the graph.

I had an opportunity to participate in a social yesterday that was well attended by Saskatoon mortgage brokers. It was interesting to hear one of them talking about how insane the market is noting that there are all kinds of multiple offers and “everyone is over-bidding.” For the record, “everyone” is not overbidding. There were five overbid sales this week, not counting a few brand new homes that may have included extras not included in the original listing. That’s less than five percent of sales, and those that did sell above list went for an average of just $1,600 over. This is just a simple fact. For the majority of Saskatoon home buyers (those buying under $400K), they’re clearly facing a seller’s market but whether you’re buying or selling, it’s important that you’re not taken in by this kind of hype. Every situation is clearly different and a few sales that went well over list price have hit the stat sheet this year, but in most cases, even where multiple offers are a factor, homes are selling for somewhat less than asking price. That was the case in 82 of this week’s 109 recorded sales. Those buyers managed a discount averaging $7,406. Another 22 lucky seller’s received offers at their full asking price and wrapped up a deal.

Other notable Saskatoon real estate activity this week includes 34 cancelled and withdrawn listings, 38 properties that expired from the system without a sale and 48 price changes.

Click the image for a larger version of the chart.

Highlights from the news this past week

Are foreign investors driving Canada’s housing prices? – Globe and Mail
Has OSFI got what it takes to oversee Canada’s housing agency? – Financial Post
Ready to be bold? Sell the house and rent – Globe and Mail
Sask. government launches tax rebate on rental housing – Gov’t media release
Why smaller down payments can lead to better mortgage rates – Financial Post
Vancouver homes sales fall to lowest point in April since 2001 – Financial Post
River Centre seals two deals with tenants – Star Phoenix
The downside of pricing for a bidding war – Globe and Mail
Does it make more sense to buy or rent – Globe and Mail
Is Canada heading for a housing correction? – Globe and Mail
Why you should beef up that down payment fund first – Globe and Mail

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

On May 12, Royal LePage will host a “National Garage Sale for Shelter” and our Saskatoon office is participating.  All of the proceeds raised in Saskatoon will benefit local women and kids seeking shelter at the YWCA Crisis Shelter and Interval House.

Often, these people are fleeing homes where they’re being abused. Yes, there’s a lot of that going on, even here in our lovely city. When these people finally gather the courage to make a break they need a place to go. The Shelter Foundation is all about ensuring that they have a safe place where they can get a fresh start.

We need stuff to sell. Decent stuff that people will pay for.

Please, do me a big favour and look around your home for a few good items that you no longer use, things that others might find useful. If you can make the time, drop them by my office at 620 Heritage Lane before May 11 between 8:30 am and 5:00 pm.  If you can’t make it by, drop me a note (my contact information is all here) and we’ll make sure your items gets picked up.

Then, drop in on May 12. We’ll be here from 9:00 am until 3:00 pm selling burgers and baking, and hosting one huge garage sale.

A quick click of the “Like” button at the top or bottom of this post to help us spread the word would be hugely appreciated as well.

By the way, the proceeds of this National Garage Sale and those conducted in the past will most likely blast past the $1 million dollar mark this year. Through agent commission donations and the fundraising activities of the Royal LePage network, we have raised more than $14 million to help provide a safe haven to more than 30,000 women and children each year and to support prevention programs that stop the cycle of family violence. Tens of thousands of dollars have been raised to benefit Saskatoon shelters. It’s a darned good cause and it makes a huge difference for many, even here in our lovely city.

Thanks so much for your support.

Norm Fisher
Royal LePage Saskatoon Real Estate

The number of listings increased in April, which is typical of the spring market. “Even though the Saskatoon market saw a 20% increase in the number of sales in April compared to April of 2011, a 15% increase in the number of listings year-over-year helped to keep the market in balanced territory,” according to Jason Yochim, Executive Officer of the Saskatoon Region Association of REALTORS® (SRAR). The sale-to-listing ratio is a good indicator of the balance between buyers and sellers. A current ratio of 56% indicates that slightly more than one out of two houses listed are selling. “By comparison, at this same time in April of 2007 the sales to listing ratio was at 90% which helped fuel a significant increase in prices in Saskatoon,” says Yochim.

Year-to-date, sales in the price range between $200,000 and $300,000 were down 3% compared to last year while sales in the $300,000 to $500,000 price range were up 34%. “There is still healthy activity over $300,000 with a good supply of product, however the selection is tighter in the $250,000 to $350,000 range.”

The total residential volume year to date was $555,154,716, up 25% when compared to this time last year. In April, the average price of a home in Saskatoon was $341,486 while the median price was $335,000.

The average sale price is determined by dividing the total dollar volume of sales by the total number of units sold across the Saskatoon market while the median price is determined using the mid-point of all sales listed. “It is important to remember that these numbers should not be applied to a specific style of home in a specific neighborhood. If a consumer is interested in data more specific to their situation it is advisable to contact a professional REALTOR® for an accurate determination of price,” Yochim summarized.

Jason Yochim
Executive Officer
Saskatoon Region Association of REALTORS®

I’m always happy to answer your Saskatoon real estate questions. All of my contact info is here. Please feel free to call of email me.

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

Norm Fisher
Royal LePage Saskatoon Real Estate

New listings took a substantial jump as Saskatoon real estate agents brought 178 homes to the market, up by 40 from the previous week and well above what we saw during the same period of 2011 when just 108 houses and condos hit the market.

Click the image for a larger version of the graph.

At the same time, total active MLS listings in the residential category failed to gain any traction moving higher by just one unit compared to the close of last week. They finished the week at 1108, down from 1298 at the end of the same week a year ago. Today, Saskatoon home buyers have a selection of 646 single-family homes and 392 condominiums to choose from. Last year at this time, those numbers sat at 758 and 469 respectively.

Click the image for a larger version of the graph.

The average selling price of a Saskatoon home slipped about six thousand dollars this week but still managed to stand pretty tall at $345,518. One sale at $1.25 million dollars skews that number about 12K higher than it would have been without it. There was more activity in lower end homes as the weekly median sale price slipped more than twenty thousand dollars to $322,000. The six-week average price pushed higher by seventy-five hundred dollars compared to last week and finished at $337,784 up a full thirty-three thousand dollars from the same week a year ago. The four-week median moved sharply higher gaining $17,500 on the week to finish at $337,450 claiming an annual gain of more than twenty-eight thousand dollars.

Click the image for a larger version of the graph.

Once again, just six lucky sellers managed to complete a sale above their asking price and those overbids were fairly conservative, averaging just $1567. Another 16 Saskatoon home sellers found a buyer willing to pay the full asking price while 76 of this week’s 98 sales saw a seller giving up about $11,601 on average to put up a sold sign.

Other notable activity this week included 48 cancelled or withdrawn listings, 30 expired listings and 48 price changes.

Click the image for a larger version of the chart.

Highlights from the news this past week

Canadian real estate market a tale of two cities – Globe and Mail 16
Saskatoon to continue growing on east and west side – NewsTalk 650 16
Mortgage market tiptoes toward subprime – CBC News 16
Saskatoon home sales above national average: CREA – Star Phoenix 16
House prices in Canada declined in March – CBC News 16
Canadian home sales rise 2.5% in March, prices edge lower – Financial Post 16
A reality test for would-be home buyers – Globe and Mail 16
CREA says sales up 8% from 2011 – Star Phoenix 16
Household debt is ‘biggest domestic risk:’ Bank of Canada – Globe and Mail 17
Big debt the downside of loading up on real estate – Financial Post 17
Bank of Canada warns on home equity lines of credit – Globe and Mail 18
Mortgage wars backfire – Financial Post 18
Buy Herself matches self-sufficient women with the perfect home – National Post 18
How much over asking would you bid on a house? – Globe and Mail 19
Most Canadians would balk at a bidding war – Financial Post 19
Finding the right home, with or without Mr. Right – Globe and Mail 19
Are home prices headed for ‘correction’ when rates rise? – Globe and Mail 20
Canada’s big banks flee nonprime market amid signs of downturn – Financial Post 20

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

This unique two-bedroom, two-storey condominium offers a host of upgrades including kitchen cabinets, appliances, flooring and a renovated bathroom. This central location provides an opportunity for walkers who enjoy downtown Saskatoon and the river valley. The current owner frequently walks to the University of Saskatchewan campus.

Take a two-minute photo tour of the home and the City Park area of Saskatoon.

More details at CityParkCondo.ca.

Like to take a look in person? Your Realtor can arrange to show you this MLS listing. If you don’t have one we’d be happy to make the arrangements. Drop me a note or give me a call. My contact info is here.

If this home isn’t for you be sure to visit our Search Saskatoon Homes page where you can search all Saskatoon MLS listings. Updated several times a day, it’s the most current data stream of Saskatoon homes listed for sale available.

Norm Fisher
Royal LePage Saskatoon Real Estate

The infographic was produced by the Golden Shine Cleaning Company in San Diego. While you may never have the opportunity to use their services at home, you may find their website handy, particularly their archive of blog articles where you’ll find all kinds of great house cleaning articles, several on health friendly ways to clean.

Highlights from CREA’s release

• Home sales rose 2.5% from February to March.
• Actual (not seasonally adjusted) activity stood 1.6% above levels in March 2011, the smallest year-over-year increase since last April.
• The number of newly listed homes eased 0.3% from February to March.
• While still well balanced, the national housing market tightened due to the rise in activity.
• The national average home price edged down 0.5% on a year-over-year basis in March.

Read the complete release here.

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.

Our Saskatoon home search tool offers MLS® listings represented by all real estate brands, presented with more detail than you’ll find anywhere else. Check it out here.

Norm Fisher
Royal LePage Saskatoon Real Estate

New listings also slipped lower falling into range of the seasonal norms. House and condo listings came in at 138, this week, down 54 properties from the previous week but still ahead of last year’s weekly total of 130.

Click the image for a larger version of the graph.

Meanwhile, the total number of active MLS listings in the residential category made its largest weekly gain since the first week of February and cracked the 1100 mark for the first time this year. The inventory of active listings grew by 47 units to reach 1107 but still closed the week short of levels seen at this time last year by close to 200 units. A closer look at the sub-categories within the broader “residential” category shows 631 single-family homes and 384 condos showing an active status. Last year at this time, those two housing types displayed 717 and 475 available units respectively.

Click the image for a larger version of the graph.

A whack of sales in the $400,000-500,000 range, and a pretty good handful above $500K, including Saskatoon’s third sale of the year worth more than $1 million, kept the weekly median price and the average sale price of a Saskatoon home fairly high. Those numbers came in at $351,420 (average) and $343,000 (median). The six-week average gained about $2500 over the previous week to reach $330,209. That’s its highest point since November of last year. It’s a full ten percent higher than it was at this time last year when it sat just below $300K. The four-week median price reached levels not seen since 2010 finishing the week higher by nearly seven thousand dollars and closing just below $320,000 for an annual gain of nearly $25K.

Click the image for a larger version of the graph.

Homes priced $50,000 on either side of the average are getting snapped up pretty quickly. Saskatoon real estate agents continue to encounter situations where multiple offers exist on properties that show well and are priced competitively, but for the most part, buyers are proceeding somewhat cautiously in these situations. Only six of this week’s firm sales recorded a selling price that was greater than the asking price. In those instances, the average overbid was just $4,366. Another 15 home sellers completed a deal at their full asking price. Meanwhile, 70 of this week’s 91 house and condo sales concluded with a negotiation that resulted in an average discount of $9,283 from the asking price.

Other notable activity this week included 22 cancelled or withdrawn listings, five expired listings and 35 price changes.

Click the image for a larger version of the chart.

Highlights from the news this past week

800 jobs created in Saskatoon in March – CTV News
The hidden threat of home ownership – Globe and Mail
How to make your house picture-perfect for sale – Globe and Mail
Canadians ready to tackle debt – Globe and Mail
Construction activity up 16% in February – Star Phoenix
Get your debt under control: Rate hikes may come sooner – Globe and Mail
EGADZ home receives $1 million – Star Phoenix
Sask. housing starts jump more than 50% – Govt. of Saskatchewan
Subprime lending, the crisis catalyst, making a comeback – Globe and Mail
Flaherty sees softening in Canadian housing market – Globe and Mail
Regina housing starts soar – Star Phoenix
New house prices advance 0.3% – Globe and Mail
Confidence reigns among Canadian home owners – BMO Spring Housing Report
Debate on banning foreign buyers resurfaces – CanadainRealEstateMagazine.com
What will make the housing boom go bust? ‘Greed’ – Globe and Mail
The return of the assumable mortgage – 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

In Saskatchewan, most housing types saw some small improvements in affordability. Although measures remain slightly higher than their long-term averages, RBC indicates that affordability in Saskatchewan isn’t likely to be much of a factor in the short-term.

“Affordability, therefore, is unlikely to be a factor restraining Saskatchewan homebuyers at this point. Indeed, they were very active in the fourth quarter, with resales surging nearly 9% from the third quarter to their highest levels in almost four years. Strong economic growth will continue to benefit Saskatchewan’s housing market in 2012.”

Read the full RBC Housing Trends and Affordability report.

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.

Our Saskatoon home search tool offers MLS® listings represented by all real estate brands, presented with more detail than you’ll find anywhere else. Check it out here.

Norm Fisher
Royal LePage Saskatoon Real Estate

New listings, on the other hand, moved in the opposite direction with the Saskatoon real estate market recording one of its busiest periods since May of 2009. Over the past six days, 192 houses and condos were added to the MLS® system, up nearly 80 units from last week, and well above the 148 Saskatoon homes that hit the market over the same period a year ago.

Click the image for a larger version of the graph.

After a brief retreat last week, the total inventory of residential listings on the Saskatoon multiple listing service® began to move higher again, but at a slower pace than you might have expected given the large difference between new listings and sales. A total of 56 cancelled and withdrawn listings, combined with 42 listings that expired at the end of March kept the numbers from advancing very much. MLS® inventory advanced by just 29 properties from the close of the previous week to reach 1060, falling short of numbers available at the same time last year by a full 200 units. The largest declines continue to be seen in the condominium category that has declined by 113 units in a year’s time to just 356 available units. Single family-home inventory fell by 93 properties during the same period of time and reached just 624 homes by the end of the week.

Click the image for a larger version of the graph.

In spite of last week’s lofty prices, the median sale price of a Saskatoon home managed to advance another seventy five hundred dollars this week when it reached $339,900. At the same time, the weekly average fell nearly thirty-five thousand dollars to $330,663. This week’s numbers were driven more by an absence of low-end sales than it was impacted by an abundance of high-end sales. There were only 11 sales recorded below the $250,000 mark. Meanwhile, the six-week average price fell about thirty-five hundred dollars from a week ago to $327,735 recording a year-over-year gain of almost 28K. The four-week median price inched up just nine hundred dollars compared to last week and closed at $312,900 for an annual increase of roughly twenty-six thousand dollars.

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Sales occurring at levels exceeding the asking price remained fairly conservative at just five properties. The average overbid was quite strong at almost fifteen thousand dollars, but much of that can be attributed to one Nutana area bungalow that sold for an amazing $72,000 above the asking price. Units that traded at the full asking price did come in pretty strong. A total of 18 sellers (28 percent of all sales) received offers of their full list price. Another 40 sellers accepted less than they had hoped for with an average underbid of $9,135.

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Highlights from the news this past week

Royal LePage targets ‘mid-market’ in commercial real estate push – Financial Post
Flaherty calls on banks to’fix’ mortgage market – Financial Post
Canadians putting off buying homes: RBC – Financial Post
Despite low rates, many Canadians holding off home purchases – Globe and Mail
Building permits rebound in February – Globe and Mail
Canadian homebuyers more talk than action – Canadian Real Estate Magazine
Dead end could be in sight for cul-de-sacs – Star Phoenix
Prairie resident cautious about home buying – Star Phoenix

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

Detached bungalows posted a modest year-over-year gain of 2.3 per cent to an average selling price of $338,750. Standard two-storey homes saw a 3.1 per cent year-over-year increase to $371,000, while standard condominiums witnessed a decrease of 1.0 per cent year-over-year to $237,000.

”Inventory levels are down slightly year-over-year yet market activity remains very strong,” says Norm Fisher, Royal LePage Saskatoon Real Estate. “Lower than average inventory levels have led to more multiple offer scenarios for certain housing types in the area. However, we are only seeing a handful of these listings sell above asking price.”

Fisher noted that, overall, the real estate market in Saskatoon was very healthy during the first quarter of 2012.

“We witnessed a spike in sales during the last few weeks of March, which shows that buyers are still confident and eager to take advantage of low interest rates,” said Fisher.

Nationally, market activity in the first quarter of 2012 was unusually high resulting in tight inventories and strong price appreciation in most major cities. Buyers were attracted into the market by historically low mortgage rates and sellers brought listing inventory to market earlier than normal, encouraged by unseasonably warm weather.

In the first quarter, Canada’s average standard two-storey homes rose 5.0 per cent year-over-year to $398,282, while detached bungalows increased 4.4 per cent to $356,306. Average prices for standard condominiums increased 2.2 per cent to $243,153.

“Our housing market is being pulled in opposite directions by opposing economic forces,” said Phil Soper, president and chief executive of Royal LePage Real Estate Services. “On one hand, there is the rapidly strengthening U.S. economy, increasing Canadian consumer confidence and what can only be called a national mortgage sale encouraging activity and bidding up home prices. On the other, we have signs of over-shooting values and strained affordability in our largest cities. We are likely to see much more modest price appreciation as the year unfolds.”

I’m always happy to answer your Saskatoon real estate questions. All of my contact info is here. Please feel free to call of email me.

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

Norm Fisher
Royal LePage Saskatoon Real Estate