2022 in Review in Saskatoon for December

Jill Bird with Re/max Saskatoon with your quick update. .

Supply continues to be a challenge, as new listings have decreased significantly as our total inventory was 827 properties which 501 were single family homes. December had 233 new properties hit the market, making that a 28% decrease compared to December 2021.

As the weather cools off, so did the sales in December has we had  24% decline in sales compared to December 2021 with a total of 203 in Saskatoon. But out of those 203 sales 12 sold for full price & 14 sold over asking. 

On the positive side, our average sale price for detached homes has gone up making it $419,851 in December. & townhomes had an average sale price of 279,119. We had…

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Inventory levels remain over 25% below 10year average.  

 

Saskatoon Real Estate Market Update in November 2022

Inventory levels fell to the lowest level reported in over a decade!!! The Sales have gradually declined 15% in Saskatoon for November

The city of Saskatoon reported benchmarked price of $367,800, which is 3% higher than This time last year.

November bad 269sales in November; 34% lower than this time last year. We had 419 new listings hit the market with a total inventory count of 1,024 listings. Saskatoon had a 3.8month supply of inventory as homes took on averages 44days to sell in November. Houses were selling for 97% of asking price.  Our average sale for single family homes was $404,000. There was 19 properties that…

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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 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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May 19, 2022

Saskatoon and area real estate market continues to be very busy with homes that are priced right are selling very quickly in a very short period of time. Sellers should consider the number of homes on the market within their price range and be aware of the competition they may be facing. The more homes on the market will favor a Buyer however such is not the case in most circumstances. Some of latest sales we have had, we are analyzing the market and take into considering these factors of inventory.. if little or no inventory, we suggest pricing the home competitively and suggest that we do not entertain offers for a minimum of 2-3 days giving adequate time to get as many buyers in as possible. This has worked well for sellers whom we have…

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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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