The Saskatoon Home Team

Where Integrity Meets Hard Work

As October looms upon us and September comes to a close, the Saskatoon real estate market continues to remain very active. Last week there were an impressive 85 firm sales (54 single family, 22 condominiums) reported to the Saskatoon MLS. Of those sales, the average price was $337,973 while the average home was sold in 45 days on market. Overall the month of September 2013 showed an increase of 4.2% in average price when comparing numbers to September of 2012. During September 2013 there was an average of 92 sales per week with an average price of $338,746, which is very similar to last week’s average. The average days on market last month was 39 and the average home sold for $7090 under asking price. Ultimately sales were very brisk in the month of September and the same could be said in terms of listing inventory.

 

 

Last week there were a total of 176 new listings (131 single family dwellings, 34 condominiums) posted to the market which is an extremely high number for this time of year. We have seen listings replenished at a rapid rate lately and this has boosted the overall listing inventory to over 1407 listings. Historically the Saskatoon real estate market rarely has ever seen listing inventory this high nearing October. In 2012 during the same time period there were more than 200 less listings, which certainly puts these numbers into perspective.

 

If you have any questions about today’s market or are thinking about buying/selling, contact us at thematthewolsgardteam@century21.ca

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Things have remained very consistent over the last few weeks in the Saskatoon real estate market, which is a definite positive. Sales numbers and new listing figures for this time period are impressive. Last week there were 85 sales in Saskatoon, which is just shy of the 4 week average of 87 per week and just 6 shy of last week’s 91 sales. The weekly average price hasn’t fluctuated much lately as last week it was $340,125, which is about $2,200 more than the current 4 week average price and nearly identical to the 4 week average in 2012. Ultimately prices and average sale prices remain consistent. Currently homes are selling in roughly 40 days on market and $6,889 under asking price.

 

Currently there are 1375 listings (850 single family homes, 415 condominiums) in Saskatoon which is nearly identical to last week. However the greatest difference is the listing inventory from now to the same period last year when there were almost 180 less listings. Listing inventory has been higher than usual of late and if you’ve been reading regularly you would have seen the pattern over the whole summer. Last week there were 179 new listings posted which is just 9 less than the total from 2 weeks ago.

 

If you have any questions about the current market or a thinking about buying/selling, contact us at thematthewolsgardteam@century21.ca.

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Things can change quickly in the Saskatoon real estate market. After witnessing the lowest total week in sales since February, sale numbers bounced back significantly last week. There were 91 sales (67 single family, 23 condominiums) showing positive signs that consumer confidence remains high. The average price last week was $355,045 with an average of 34 days on market. Last week there was a high amount of activity in the high end market and the inflated weekly average price reflects this. Due to the high amount of activity in the under $300k range (lower end of market) of late, the current 4 week average price (Aug 16- Sept 15) is $340,157, with an average of 98 sales per week and 37 days on market. In 2012 the 4 week average (Aug 15 – Sept 14) was $343,953 with an average of 88 sales per week and 32 days on market. Most importantly sales in Saskatoon are averaging 10 more per week in 2013 than the previous year. Last week the average sale price under asking was $5564.

 

As I mentioned last week, it was to be expected that listing inventory should drop off as the peak real estate season is coming to a close. However the complete opposite occurred, as 187 new listings (135 single family, 44 condominiums) were posted to the Saskatoon MLS. In 2012 during the same week period there were only 159 listings posted, while there were only 151 posted 2 weeks ago. The total listing inventory grew nearly 20 listings from last week as there are currently 1381 (860 single family, 421 condominiums) active today. Last year during mid-September there were only 741 single family homes and 388 condominiums.

 

The market shows no signs of slowing down for the winter months over the short term. If you have any questions or are thinking about buying/selling, contact us by email.

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C/O Saskatoon Star Phoenix

Expect to pay between $155 to $182 per month for the average parking spot in the city downtown core.

ICR Commercial Real Estate's Parking Survey 2013 shows rates downtown are up three per cent from last year, says ICR market research analyst Alvaro Campos.

 

"The demand for parking is high and space is limited which is causing upward pressure on the rates," Campos said. "Almost every single parking stall is gone."

 

Demand is so high - there is a waiting list to get into underground spots - whenever a building is torn down, odds are a parking lot will take its place, at least on an interim basis.

 

"Buildings that have been demolished (like the McDonald's on 22nd and Second Avenue or the Patricia Hotel on Second Avenue) that have future plans for construction ... they are parking lots," Campos said. "It is a great way for income."

 

Yet Saskatoon still has very affordable pricing compared to places like Calgary. "You are in the mid-$400s (per month) in places like Calgary," he said.

 

Regina has comparable rates to Saskatoon with a median range of $160 to $187 per month.

 

The national median for parking is around $250 per month.

 

Hourly rates in Saskatoon average $2 and daily rates range from $8.50 to $9.

 

Saskatoon Downtown Core Parking Rates

 

Median Maximum Minimum

 

Surface unpaved $145 $240 $80

Surface Paved $155 $300 $89.25

Surface Paved/plug-in $170 $225 $75

Covered $165 $200 $100

Underground $235 $399 $200

Total downtown $180 $399 $80

Random 24/7 $155 $250 $80

Reserved 24/7 $399 $95 $182.50

 

Link to Story

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Whether you're considering buying a particular home, selling your current property – or both – a home inspection can help.

 

A home inspection is an inspection by a qualified professional who takes a close look at every aspect of a home – structure, wiring, plumbing, and more – and identifies issues you may not have noticed yourself.

 

For example, a home inspection can reveal that a furnace will need to be replaced soon, or that there is a water leak into the basement that needs to be fixed.

 

You'll definitely want to get a professional home inspection before you buy a particular property. That's why most offers to purchase a home are conditional upon passing a home inspection. (The last thing you want is to buy your dream home only to discover that the wiring needs to be updated!)

 

You may also want to get a home inspection on your own home before you list it for sale. A certificate from a qualified professional that states that your home passed inspection will make your property more attractive to buyers.

Many reputable home inspectors are members of a professional industry association.

In Canada:

 

It's important to note that certification or licensing is not a requirement in many jurisdictions. So select a home inspector carefully.

 

Need to find a reputable home inspector? Call today.

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Last week sales numbers in Saskatoon dipped considerably as 70 firm home sales were reported to the Saskatoon MLS. We saw a similar amount of activity in the real estate market last year in Saskaoon, where only 68 firm sales were reported. The interesting figures from last week’s sales indicate that properties in the luxury market are tapering off. However the entry level market is still quite active. There was a high amount of activity under $300,000 which we have seen a lot of recently. Last week nearly half of all sales were under the $300,000 mark and consequently drove the weekly average price down to just $315,764 which is much lower than usual and more than $45,000 less than the average during the same week of 2012. Average home prices aren’t dropping; this is merely evidence that entry level buyers continue to enter the market before impeding rate hikes.

 

We have seen inventory levels hitting all-time highs in 2013, as there are currently 1369 active listings (849 single family, 421 condominiums) in Saskatoon. Last year there were only 729 single family homes and 393 condominiums listed during the same week period. Last week there were 159 new listings (93 single family, 55 condominiums) listed in Saskaton, which is 37 more than were listed at the same time last year. As I’ve been stating in recent blogs, you can expect listing numbers begin to decrease over the coming weeks.

 

If you have any questions or are thinking about buying/selling, contact us thematthewolsgardteam@century21.ca

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