Saskatoon Real Estate Market Update for October 2022

INVENTORY LEVELS 25 PER CENT BELOW 10-YEAR AVERAGE

Easing sales in October contributed to a year-to-date sales 
decline of over 12 % when compared to last year’s record
highs. That said, sales continue to far exceed pre-pandemic
levels and speak to the strength of the Saskatoon market. October has 319 sales in Saskatoon, 192 of those were single family homes. 510 new listings hit the market in October; 322 of those were single family. Our total inventory was 1,098 properties giving us a 3.4 month supply of inventory. 


The City of Saskatoon recorded a benchmark price of $371,600, which is actually up 4.4 per cent increase year-over-year. Interesting takeaways from the month. 
Saskatoon had 2 sales over 1 million dollars for the money- one in…

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What to Consider when Purchasing an Acreage in Saskatchewan

What to Consider when Purchasing an acreage around Saskatoon

Are you looking to escape the city or maybe you just want a little more space, acreage living is becoming a very popular choice these days. 

Allowing home owners and I have the privacy, freedom & space to build their dream life in the prairies . When considering if an acreage is for you, you need to consider these things. 

• Location: as always, location is so important, how far are you willing to drive into the city every day, how easy is it to access the property, how much snow will you have to remove on the property. How is the soil around you and how high is the water table around here. Also good to keep in mind distance to schools and is there a school bus that services the…

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Buying a condominium in Saskatchewan

Buying a condominium

Looking at potential homes to buy can be an exciting experience. First, you need to figure out what you can afford and how much of a mortgage you’ll need. Then, once you find a condominium that matches your financial and personal criteria, you’ll want to ensure that it’s well managed and in good physical, financial and legal condition.

When buying a resale (not brand new) condominium in Saskatchewan, it is a mandatory to view & approve the Estoppel Certificate Package which is provided by the Property management at the Seller’s expense. The following items will be included in the estoppel certificate:

-A Reserve Fund study

- most recent financial statement  

- current budget

-insurance policies

-management…

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December2020 Real Estate Market Update

The Saskatchewan real estate market had another strong month and ended 2020 at levels not seen since 2014.

Sales in Saskatoon were up 35.0%, going from 203 in December 2019 to 274 in December 2020, and up 41.5% in the overall region, going from 258 to 365. In Saskatoon, sales were 32.1% above the 5-year average (and 33.5% above the 10-year average), while in the larger region, sales were 33.8% above the 5-year average (and 32.3% above the 10-year average). Year-to-Date (YTD) sales in Saskatoon rose 18.2% over last year, increasing from 3,614 to 4,272, while YTD sales in the larger region rose 23.0%, going from 4,833 to 5,945.

In Saskatoon, the number of new listings in December 2020 rose 14.9%, going from 302 to 347 (3.6% above the 5-year average…

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Saskatoon Real Estate Market Update for June 2020

Strong June for the Real Estate Market in Saskatoon

A total of 515 properties sold in Saskatoon this June, a 38.4% increase more than the 372 properties sold. In the overall region sales increased to 719 from 504 last June.

There were 1,585 active listings for the month which is an 19.6% drop of inventory for June.

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Saskatoon in June 2019 was $306,500 . The benchmark value for the same home in June 2020 increased by 0.9% to $309,400. The year-to-date median prices in Saskatoon $326,858, a 1.3% increase from June 2019. In the region, the year-to-date went from $308,171 to $301,767.

The average days on the Market for Saskatoon decreased to an…

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February 2020 Market Update

Some residential markets moving towards balance, but the majority of the province favours buyers.

Saskatoon
Saskatoon and region continued to show growth in the residential real estate market. Sales of 230 in the city were up 9% from 211 in February 2019, and the region saw sales grow 11% from 283 last February to 314. Sales were above the 5-year average of 295, but still below the 10-year average of 338. Year to date (YTD), sales were up over last year; 9% in the city, from 412 to 449, and 8.6% in the full region from 556 to 604.

Sales dollar volume was also up. In the city there was a 3.2% increase of $73.7M over last February, and in the region, last month’s $93.5M sales were up 7.4% over 2019’s $87.1M. YTD sales dollar volume was up 10% in the…

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Waiting to Sell Can Cost You Money

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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