We are following the traditional patterns of falling inventory as we go into the winter season. There were 1291 properties on the market at the end of July. We are now at 971 units on the market at the end of October.

The market has seen brisk unit sales in September and October in the $200,000.00 - $350,000.00 range. There has been a significant decline in unit sales over the $350,000.00 range from last year in the same period.  Overall unit sales YTD has increased by 5%, while new listings are declining. This is showing up in the lower inventories.

This is good news for the sellers. It is getting more difficult for the buyers to find properties in the lower price ranges in the more popular areas such as the older South East areas. (area 2).

Area 2 unit sales are up 12%. This is primarily in the under $300,000.00 price range.  In the extreme East area (area 1) of the city, home unit volumes are up by 17% over last year.  Judging by the price range volumes, this is in the townhouse and condo markets for the most part.  Area 3, especially in the single family units has a short supply of homes in the $250,000.00 – 350,000.00 range.  Unit sales are down in area 4, in large part due to lack of supply. Area 5 is having a good year with the expansion in the Hamptons as well as a strong demand from first time home buyers for the $200,000.- $250,000.00 single family resale homes. Unit sales YTD over $350,000.00 are down overall.

I feel this tells us that the majority of the buyers today are first time home buyers who are encouraged by the low interest rates and attractive mortgage terms offered by the lenders.

I expect we are going to see a solid market in the coming years as sellers begin to realize that we are not going to get a major step up in prices. We are back into the stable slow growth market that we were accustomed to in the past.

Saskatoon is a great place to live. We are enjoying a level of prosperity and stability here that is envied by the rest of the country. I believe that we are better to have stable growth rather than the huge price swings that the west coast and central Canada has seen in the past.

So if you are considering selling, the market is good for sellers. The buyers are having trouble finding the property they are seeking at what they consider as good value.

If you have been wondering what the value of your property is, and what to expect in your price range and area, I will be happy to sit down and discuss it with you.