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Real Estate Blog

Real Estate Market Update

It’s feeling more like its time to make that move!

Sales in April 2019 have increased 18% since April 2018 in the Saskatoon Region!

Housing demand in April was the strongest it has been in 3 years, reported by the Saskatoon Region Association of Realtors® There was a total of 513 sales on MLS which is up from 433 since last April & 233 last month. A total of 1,295 active listings for sale in the Saskatoon Region at the end of April with a year-to-date total of 3,971 compared to lasts years year-to-date of 3,989. Just within Saskatoon the active listings were a 3% decrease of 1,778 from 1,834 last year. The year-to-date average selling price in Saskatoon was $327,995.

*Source: SRAR

Number of Sales

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“Even in a Buyer’s market Seller’s can successfully sell their home.” said Jason Yochim, CEO of SRAR.

In February there was a total of 478 new listings, making a 8.6% decrease than last year, which is the lowest its been since 2013. There was 731 active homes in the Saskatoon region, down 7% from 2018.

Sales increased 6% from last February, after there was 296 sales in February for a year to date of 570. In Saskatoon the average selling price was $338,268.

Year to date, listings dropped 7% to 1,591, sales were up 1% to 570

Months of inventory dropped to 6.7 from 7.5 last February.

 

Even though there was some relief for Seller’s in February, it is still remains a Buyer’s market.

The most

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There was a total of 555 new listings hit the market in January 2019 which is down 9.9% compared to last January & has been the lowest since the past 6 years. Sales have gone down 1.5% for a total of 199 firm transactions for Saskatoon. There was an average of 63.6 days on the market for January, which previously was 68.1 days for 2018. Year-to-year average sale price is down 12% in January at $302,412 - the average price in 2018 $344,720 & $341,260 in 2017.  The Saskatoon region was down 6% for total MLS dollar volume of $84Million. 

"New Listings to the market are not always houses being introduced for the first time to the market. Often New listings are homes that did not sell in the initial listing attempt and are relisted, often at a

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Cam Bird & is family is proud to be apart of Cross Canada Referrals (CCR) which is a group of top producing Realtors across Canada! 

The Cross Canada Referrals Group (CCR) is a group of independent top producing RE/MAX® Real Estate Agents within Canada. Our award winning members are among the best agents with RE/MAX® across this country.

By sending your referrals to CCR REALTOR® you make sure that your client will be served only by the best top performing RE/MAX® REALTOR® in your selected area.

CCR REALTORS® receive and distribute referrals to REALTORS® from all over the world. To date we have paid millions to other REALTORS®. CCR’s outstanding performance and experience in the real estate industry ensures the best possible quality of

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Most people think it is best to wait until the new year to list their home. That is not totally correct. Statistically in December inventory numbers are low. It appears most Sellers wait until the new year; but ask yourself, when would you like to Sell your home? When there are more homes on the market or less? Pre-approved Buyers have an interest rate guarantee for 60-90 days max, would it not make sense to list your home when there are fewer homes to choose from. Interest rates have risen and are continuing to rise, which is forcing house prices to drop. We are aware of our cold winters in Saskatchewan but right now Buyers are motivated looking at properties. Some employees are relocating for work this time of year to start the first quarter in

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 Learn more about what a buyer will pay for a home in communities throughout Saskatoon and find out how that compares to the City of Saskatoon assessed property values.

Hello there, Cam Bird from RE/MAX Saskatoon. Just want to give you an update on Market Evaluations. A lot of times Sellers have checked on city of Saskatoon Assessment Notices to check what their home is worth; what sellers may not know is the city assessments are from January 1, 2015. Coming in 2018, there is a big difference between the values of these properties & what that assessed value is. Unfortunately, houses are not all at the value it was once assessed at back in January 2015.

For example, I did an Evaluation in the subdivision of King George. From comparable sales &

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The Big Banks have decided to alter Mortgage Guidelines once again.. This video gives you an insight into what is happening..

Click on the link or copy and paste into your web browser to watch this 3 minute video..

 

Hello Everyone, Cam Bird with Re/Max Saskatoon. I just wanted to send out a quick update on the new upcoming mortgage stress test in January 2018 that the Federal Government has implied. Where it is changing the market, place is Buyers with even 20% cash down payment now will have to qualify at the posted 5year interest rate, which currently is about 4.8%. However, you are able to receive the lower 3.5% (as of Oct. 2017) As of right now, the 5%-20% cash down Buyers, have had to these guidelines since October 2016, where they

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Fall Point of View

 

Well the summer has come and gone with a wild whirl wind of activity during the hottest summer in a long time.  Real Estate was busy with clients selling homes and buyers acquiring their next new home.  The summer flew by with work and family - even made it up to the lake a few times to make the most of what Canada has to offer.  Now the kids are back in school, we are forced to slow down to 30 kms in school zones and everyone is dealing with a kerfuffle frantically doing the day to day tasks.  I had a chance today to sit back and evaluate recent endeavours, set backs and triumphs that occurred in the hectic summer months.  Extremely grateful to my clients that trusted me to handle the sale or purchase of their home, absolutely

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Just a quick note to inform you of some recent findings about some Builders and Home Owners who have opted to replace their furnace and or water heater with a rented furnace-a service that is being offered by some or one of Saskatoon's furnace suppliers. Although this may sound like a great alternative to those who are requiring an upgrade to their heating system however if the thought of selling the home during the time of the furnace being a rental versus solely owned by the Seller, very few if any Buyers have shown any interest in assuming the rental agreement of an existing furnace or water heater. I have been involved recently in the sale where the Seller had entered into a rental agreement on the furnace and the Buyer had assumed the furnace was

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CMHC insurance fees are now taxed as of August 1st, 2017 to the tune of 6% PST.. This tax will only affect Buyers who are utilizing the CMHC insurance program whereby the Buyer is placing 5-20% down payment on any purchase. Contact us to find out more details or connect with our mortgage Specialist Crystal Wandler of CIBC Mortgages at 306-261-5149.

 

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