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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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Market Update

Sales were up 76.7% in Saskatoon (going from 326 to 576), up 28.6% in Martensville (going from 21 to 27), and up 88.9% in Warman (going from 18 to 34). In Saskatoon, the number of new listings in May 2021 rose 34.4%, going from 755 to 1,015. The number of new listings rose 44.8% in Martensville, going from 29 to 42, and rose 6.4% in Warman, going from 47 to 50, YTD new listings in Saskatoon rose 38.6% (going from 577 to 800), rose 34.6% in Martensville (going from 25 to 34), and rose 19.0% in Warman (going from 35 to 41). Active listings rose 4.4% in Saskatoon (up from 1,524 to 1,591), were flat at 73 Martensville, fell 38.7% in Warman (down from 119 to 73). Inventory in Saskatoon stood at 2.8 months, while the sales to listing ratio was…
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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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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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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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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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