Cam: 306-221-0654 | Jill: 306-221-1350

SASKATCHEWAN FARING BETTER THAN OTHER MARKETS DESPITE INVENTORY CHALLENGE
Sales activity slowed for the second consecutive month, contributing to a year-to-date decline of 19 per cent. Further declines in new listings kept inventory levels 36 per cent below 10-year averages for the month and the months of supply remained under four month.

In February there was 253 sales in Saskatoon.  409 New listings hit the market, making our total inventory 886 homes on the market.

Our average sale price for single family homes in February were $423,379 as there was 144 sales

Average sale price for townhomes was $298,000 as there was 33 sales

February saw 50 apartment sales in Saskatoon & were selling on average for $205,000

23% of homes sold…

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Looking to become a homeowner & get a mortgage ?

Getting pre-approved involves the following:

1. Gather financial information: Collect your most recent pay stubs, bank statements, tax returns, & other financial documents that show your income, expenses & assets. 

2. Choose a lender: Research different lenders, compare interest rates, & loan terms, & choose one that fits your needs & budget/

3. Complete loan application: Provide the lender with your financial information, including your employment history, credit score, & debt-to-income ratio. 

4. Submit supporting documentation: Your lender will need to verify your financial information, so be prepared to provide proof of income, employment, & assets. 

5. Get Pre-approved: The lender…

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????Market Update in Saskatoon for January

We saw a 17% decline in Sales- there was only 201 sales in Saskatoon which is okay because that’s relatively consistent with long term trends for this time of Year. While higher lending rates are impacting sales, a lack of new listings & low inventory remains to be an issue. 415 new listings hit the market, the lowest level since 2008 & over 35% lower than we usually expect to see this time of year. Single family homes were selling on average for 412,000 Apartments were selling on average for 200,000 Townhomes selling for 250,000 Interesting take away for January- 15% of the sales sold for full price or over asking. The most popular neighbourhood in January was…

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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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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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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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