Momentum continues to roll in the Saskatoon real estate market as the local MLS recorded 124 sales, which is a 2014 record. Sales haven’t been this brisk in Saskatoon for 7 years since the one-off real estate boom, The current market has been bolstered by the city’s continuous growth and ability to retain its young people. Last week the average price was $358,209 and the average home sold in 35 days on market. In 2013 there were 108 sales at an average price of $329,789 while the average home sold in 33 days on market.

Over the past month in Saskatoon there has been an average of 117 sales per week at an average price of $358,569. The average house sold in 34 days and the average selling price was $8,679 under asking price. These numbers look excellent when comparing sales data from a very productive 2013. Last year in Saskatoon there were 18 less sales per week at an average price of $352,028 while homes sold in 31 days on market. There are slight differences in average selling price and days on market from year to year, however numbers are trending in the right direction.

Last week there were 240 new listings (165 single family, 59 condominiums) posted to the local MLS.  The impressive listing numbers from last week increased the total active listings in Saskatoon to 1598 (973 single family, 474 condominums).

It should be noted that 28% of all listings in Saskatoon are new homes, while only 14% of all sales are new homes. The resale market comprises 72% of all listings and 86% of all sales. Now is a perfect time for move up buyers looking to get into a new home!

For more information on the Saskatoon real estate market, market trends, or if you’re buying or selling contact us here.

The Saskatoon real estate market has been more active in May 2014 than it has been in the past 7 years during the same month period. Last week there were an impressive 119 sales in Saskatoon with an average price of $367,949. In 2013 during the same week period there were 25 less sales.

Here’s a break down of how the numbers compare over the past 5 years in May within the Saskatoon real estate market in terms of sales volume, price and days on market (DOM).

Month / Year    Number of Sales           Avg. Price               DOM

May 2014                    495                        $356,081                  36

May 2013                    426                        $355,376                  30

May 2012                    459                        $335,774                  27

May 2011                    417                        $317,336                  34

May 2010                    351                        $295,167                  27

Since 2010 the average price of a home has jumped up $60,914 in Saskatoon. It seems that incrementally every year we’ve seen positive gains in the average prices of homes in the Saskatoon area. Prices have gone up modestly from 2013 to 2014, however the numbers are somewhat skewed due to high activity in the lower end of the market. Values of homes in 2014 haven’t taken a hit in the resale market, rather the new home market is taking a brunt of it. Due to the high amount of inventory and competition, in 2014 homes are sitting on the market longer than usual.

We haven’t seen sales volume as high in Saskatoon during the month of May since 2007, when 581 sales occurred. The growth witnessed during the boom of 2007 wasn’t sustainable. However the steady incremental growth in average prices and sales volume since then is quite promising. Consumer confidence is very high at the moment in the Saskatoon real estate market, especially resale under the $400,000 range.

There are currently 1554 active listings (950 single family, 495 condominiums) on the market in Saskatoon. This number as mentioned above is higher than usual as there were just over 1200 listed during the same time period last year.

At the moment 30% of all properties on the market are new homes, while only 15% of the total sales are new. Listings continue to pop up on the market daily at a steady pace as current buying conditions are better than they have ever been. Last week there were 187 new listings posted and we can expect this number to increase to over 200 during the weeks to come.

For more information on Saskatoon real estate market trends, or if you’re buying/selling, contact us here!

The weather has been amazing lately and has motivated buyers to buy homes. Sales volume in the Saskatoon real estate market is up quite remarkably year over year, which is promising. Last week there were 105 firm sales in Saskatoon with an average price of $352,047 and 33 days on market.

Over the past month, the market has been extremely active as we have averaged 112 sales per week, which are 15 more than the same month period in 2013. The average price over the past month has been $358,794 and this total is $3,429 higher than the average price during the same month in 2013. This number is skewed because of a high amount of activity in the entry level market. Due to a high amount of inventory currently houses are selling in 36 days on market, which is 6 days longer than the average in 2013. The average price under asking over the past month is $7,405.

In 2014 we’ve seen more activity in terms of sales volume than we have in the past 5 years as the average price has gradually increased every year.  Average prices are going up especially in the resale market as it’s been extremely hot of late (81% of total sales are resales), the same cannot be said in the resale market. Homes are still moving very well under the $400,000 mark as 73% of total sales occurred in this range.

There are currently 1578 listings (964 single family homes & 500 condominiums) in Saskatoon which continues to grow every week as we are in the midst of the most active listing period of the year. In 2013 there were only 1219 active listings on the market. Last week there were 193 new listings posted to the market. Last year during the same week period there were only 167 new listings posted and inventory was much lower.

If you have any questions about the current market or if you’re thinking about buying or selling, contact us here.

Last week in the Saskatoon real estate market there were more sales than any other week in 2014 so far! There were 119 firm sales at an average price of $355,321, 30 days on market and $7286 average sale price under asking. You could say that we’re in full swing in the Saskatoon real estate market.

Last week there were a few trends that were evident when looking at the statistics. Of all the sales last week, a staggering 93% of all sales occurred in the resale market, driving down the average days on market to 30. It’s very rare to see homes sell this fast while there are over 1500 listings on the market. Entry level homes under $400,000 consisted of 70% of total sales last week, which has skewed the average price in Saskatoon much lower than where it normally is.

Over the past month there have been 457 sales (114 per week) with an average price of $351,718, 36 days on market and an average of $7554 sale price under asking. Last year during the same month period, the Saskatoon real estate market averaged 14 less sales per week, while the average price was only $2,117 lower and the average home sold in just 30 days on market. In 2013 there were far less listings on the market, therefore it’s reasonable to assume it would affect the average days on market with less competition.

There are currently 1549 listings in Saskatoon (925 single family, 499 condominiums) as listing inventory in Saskatoon is skyrocketing. Last week there were 251 new listings (161 single family, 73 condominiums) posted on the market, which is the highest amount of listings in a single week in over 6 years. There were 196 less single family homes and 122 less condominiums on the market during the same week period last year. Expect the overall listing numbers to increase to nearly 2000 in the coming months.

If you require any further information on current trends in the Saskatoon real estate market or if you’re buying/selling, contact us here!

Last week in the Saskatoon real estate market sales continued at an extremely high pace as there were 105 firm deals reported to the local MLS. Of those 105 sales, the average price bumped up from previous weeks to $359,503 as 29% of all sales occurred $400k or higher. The resale market remains to be the most dominant market in Saskatoon as only 19% of all sales last week were new homes.

Over the past 4 weeks, there have been a very impressive 108 sales per week average with an average price of $350,284, 37 days on market and an average of $7,410 selling price under asking. In 2013 during the same 4 week period there were 7 less sales per week with an average price $5,593 lower. However last year due to lower inventory and less competition, the average home sold 6 days faster.

Currently there are 1478 total listings in Saskatoon (899 single family, 467 condominiums) and these figures are expected to climb as this is the most active listing time of year. In 2013 there were 185 less single family homes and 86 less condominiums on the market during this same week period. Last week there were 222 new listings posted to the Saskatoon MLS (141 single family, 61 condominiums).  

Sales volume, prices and listing inventory are all higher than they were in 2013. For a free home appraisal, or if you’re buying/selling contact us here!

Over the past few months in the Saskatoon real estate market sales volume has been far ahead of expectations. As the city continues to grow and retain its young people better than ever (story here), real estate demands in the entry level market have never been hotter. Last week sales kept humming at a torrid pace as the market is now in full throttle as 118 firm sales were reported to the Saskatoon MLS with an average price of $367,669.

During the month of April in Saskatoon there were 433 firm sales reported at an average of 108/week and average price of $345,394 and 38 days on market. The average price is quite low due to 74% of sales occurring under the $400,000 mark. This was the second most active April all time in Saskatoon, the first being the boom in 2007 when 475 sales took place. However this time around, sales are increasing because of steady population growth, meaning these figures should be sustainable as long as interest rates remain attractive. It should be noted that new homes sell in about 53 days on market, while a resale home will sell in about 35 days.

In 2013 during the month of April there were 395 total sales or 100 per week (8 less than 2014). The average price was $350,203 ($4809 more than 2014 April average price) and the average house sold a little faster at  only 33 days on market. The amount of sales under $400,000 was only 70%.

Average prices have increased year over year from 2013 to 2014. As mentioned in previous blogs, due to an increase in entry level buyers the average price numbers in Saskatoon have been skewed due to a high number of sales in the entry level market.

There are currently 1448 listings in Saskatoon (886 single family homes, 463 condominiums) which is a high amount of inventory in the market. Last year there were only 184 less homes on the market and 103 less condos during the same week period.  Last week there were a very impressive 233 new listings in Saskatoon posted to the local market.

If you have any questions about the current market or if you’re thinking about buying/selling, contact us here!

Last week in the Saskatoon real estate market sales really took off as there were 115 sales reported to the local MLS. Of those 115 sales the weekly average price was just $324,514 and an average of only 33 days on market, both figures are much lower than usual. There are a few emerging trends as of late in the Saskatoon market and if you’ve followed this blog recently, these numbers will bolster what we’ve been talking about recently.

Here are a few notable findings in the sales data from last week:

-    The resale market in Saskatoon accounted for 79% of all sales.

-    Of all sales, 80% of them occurred under $400,000.

-    41% of sales occurred within the $300k -$399k range

-    38% of sales occurred under $299k

These figures explain why the average price figures are skewed along with days on market. First time buyers are entering the real estate market due to low interest rates. At the moment it’s too attractive to purchase a home rather than renting as rental fees in Saskatoon ten d to be long term and highly priced.

Over the past month we have averaged 105 sales per week, which is extremely active (10 more per week more than 2013). Of those 105 sales, the average price was $347,511 (nearly no change from 2013), 40 days on market (5 days longer than 2013) and an average selling price $7009 ($719 less than 2013) under asking price. As was mentioned above, these numbers are skewed due to a high amount of activity in the entry level market. Don’t pay too much attention to these figures as the most important figure is sales volume.

Last week there were 176 new listings (110 single family homes, 58 condominiums) posted to the Saskatoon MLS. This added to the already high inventory numbers in the Saskatoon real estate market. There are currently 1421 active listings (863 single family, 449 condominiums) in Saskatoon. Last year during the same time period there were 166 less single family home and 74 less condominiums.

Overall the Saskatoon real estate market seems to be quite balanced, with the exception of new builds which seem to be lagging a little. If you’re thinking about selling your home and moving up into something new, now would be the best time to do so.

If you have any questions about the current market or if you’re thinking about buying or selling, contact us here!

Check out the following articles to view the latest real estate news:

Real estate markets set for rebound – STAR PHOENIX

CMHC tightens lending rules again – STAR PHOENIX

Canadian home buyers putting down larger down payments: Lenders – NATIONAL POST

The rich invest in real estate, poor want gold: Barry Ritholtz – BNN.CA

Canadian Consumer Confidence Reaches Almost 4-Year High – BLOOMBERG

House prices expected to rise, local realtor says – PA HAROLD
NHL notes: Wayne Gretzky selling California mansion – FORT SASK RECORD
Real estate buoyant in March, CREA says, with sales and prices up – NATIONAL POST
Mike Holmes: A home inspection is a worthy investment – NATIONAL POST
Housing market ‘extremely discouraging’ for first time buyers – CBC

Last week was the first time in the past 4 weeks that sales volume for a single week period had dipped below 100 firm sales in Saskatoon. In total there were 93 firm sales in Saskatoon last week with an average price of $349,683. Listings are starting to sell faster as the average days on market last week was only 34, while the norm of late is over 40.

Over the past 4 weeks there has been an average of 103 sales per week at an average price of $354,130, 43 days on market and an average selling price $7,149 under asking. In 2013, during the same month period the Saskatoon MLS recorded only 89 sales per week (14 less than 2014), an average price of $349,662, 35 days on market and an average of $6646 under asking price.

Prices are up slightly from 2013, while sales volume is much higher. Also due to high inventory levels, properties have sold a little slower than they did in 2013. It should be noted that the inventory in the luxury and new home market is skewing the days on market higher than usual. The resale market in Saskatoon continues to be very hot.

There are currently 1420 active listings in Saskatoon (869 single family homes, 448 condominiums). To put this amount of inventory into perspective, there were 19% less listings on the market in 2013. Last week there were 199 new listings posted to the MLS, which is 17 higher than the same week period in 2013. There are no signs of listing nubers tapering off any time soon. Expect inventory levels to climb even higher in the coming weeks.

For more information on a specific neighbourhood, or if you’re thinking about buying/selling you can contact us here or leave us a comment, we’d love to hear from you!

We’ve seen the Saskatoon real estate market reach the century mark in sales for 3 consecutive weeks. Last week there were an impressive 107 firm sales reported to the Saskatoon MLS with an average price of $339,541. The average price is skewed lower because 75% of all sales last week occurred under the $400,000 range.

Over the past 4 weeks there has been an average of 104 sales per week in Saskatoon with an average price of $357,744, 45 days on market and an average selling price $7,260 under asking price. Last year during the same 4 week period there was an average of only 83 sales per week, with an average price of $349,438, 34 days on market and an average selling price $6,709 under asking price. What these numbers tell us is that sales volume is way up from 2013 (21 more sales per week) and average prices have gone up. Homes are sitting on the market a little bit longer due to the high amount of inventory on the market and sellers are giving up a little more on their asking prices.

Last week there were 193 new listings (111 single family homes, 63 condominiums) posted to the market. As of Monday morning April 14th, there are 1403 listings in Saskatoon  (847 single family, 454 condominiums). The amount of inventory on the market at the moment is much higher than the same time period in 2013 by nearly 250 listings.

The market is far outperforming expectations at the moment. If you’re looking to sell your home, the re-sale market is especially hot. If you’re looking to buy, interest rates are as attractive as ever! For any questions about the market, contact us here!

The Saskatoon real estate market was extremely active in March 2014, in fact it was the most active March in the past 5 years in terms of sales volume. Not only was it the most active March, sales prices were also the highest last month as compared to any of the past five years during the same month period. Here is how everything breaks down.

Year       Sales            Average Price                Average Under List       Days on Market

2014        382                $353,973                                 -$6,411                            44

2013        344                $336,068                                 -$5,597                            37

2012        367                $326,627                                 -$6,129                            33

2011         346                $294,025                                 -$7,308                            36

2010         359               $282,393                                  -$5,681                           30

When analyzing these numbers, it’s evident that the average prices of Saskatoon real estate listings have increased incrementally each year. However the largest increase was from May 2013 to May 2013 as average prices increased $17,905 in one calendar year. This past month of May 2014 you will notice that homes are sitting on the market a little bit longer and the average sale price under list is also lower. These statistics are skewed slightly because of the high amount of product available in the luxury home market.

Here is a breakdown of the number of single family home and condominium sales in Saskatoon broken down by area (S1 – East, S2 – South East, S3 – North, S4 – West, S5 – North West).

March 1st to 31st 2014 single family home sales

Area    Sales           Average  Price         Avg. Under List           Days on Market

S1          90                  $477,896                     -$7,071                            47

S2          51                  $391,875                     -$4,060                            37

S3          24                  $368,596                     -$11,633                          33

S4          39                  $236,458                     -$8,203                            42

S5          44                  $354,772                     -$5,573                            37

The S1 area is by far the most active in Sales volume  as it has 3 of the most active neighbourhoods in all of Saskatoon, including Evergreen (26 sales), Rosewood (16 sales) and Willowgrove (23 sales) which are all new development areas. However the S2 area has the most active neighbourhood in all of Saskatoon in Stonebridge which allotted for 32 sales last month.

March 1st to 31st 2014 condominium sales

Area    Sales       Average Price             Avg. Under List                  Days on Market

S1           60              $279,845                       -$4,340                                45

S2           28              $293,677                       -$6,752                                43

S3            8               $231,488                        -$7,687                               44

S4            4               $244,125                        -$9050                                75

S5           12              $242,177                        -$2465                                40

The sample size of some of the condos that sold especially in the S3 and S4 areas are a little too small to read into the numbers too much. It is evident that the S1 and S2 areas are the most popular for condos in Saskatoon and feature some new developments.

Currently there are plenty of buyers entering the market in the under $400,000 market due to attractive interest rates. Homes in the $200-$400 range seem to be selling very quickly, especially in the re-sale market as demand is high. The same can’t be said in the luxury market however, as there is so much inventory to compete with for sellers.

Within the past few weeks in Saskatoon we have seen over 100+ sales in on the local MLS. This is the first time in 2014 that the Saskatoon real estate market reached the century mark during back to back weeks. Look for more positive things to come!

Last week on the Saskatoon MLS was the single most active week in real estate in the city in 2014. There were 107 firm sales in Saskatoon last week, which is actually the first time the Saskatoon market eclipsed the century mark in 2014. It’s logical to believe that the Saskatoon real estate market is now in full swing. Of those 107 sales the average price was $348,342, which is lower than usual because of a high number of sales (78% of total sales) under $400,000.

When comparing the month of March 2014 to 2013 in terms of sales volume and overall average prices, there are positive signs. In March 2014, there have been an average of 90 sales per week (4 more than 2013), with an average price of $353,695 ($17,627 higher than March 2013), 44 days on market and an average of $6284 selling price under asking.

Currently there are 1335 active listings in Saskatoon (803 single family, 428 condominiums), which is roughly 280 more listings during the same time period in 2013. Last week there were a very healthy 179 new listings (122 single family, 47 condominiums) posted to the Saskatoon MLS.

Currently interest rates are at 3.09% for a 5 year fixed, which is very attractive. These rates are luring first time home buyers into the market because the cost benefit of buying a property currently outweighs the freedom of renting.
If you have any questions about the current market or if you’re thinking about buying/selling, contact us here.

Housing affordability will be an issue going forward in the Saskatoon real estate market as prices incrementally increase every year.  It’s time to consider older forgotten about neighbourhoods on the other side of the river. There has been an assumption for years in Saskatoon that the east side of Saskatoon is more prestigious. However with those bragging rights of an east side address, residents do pay a little more for their homes and taxes.

There are numerous revitalization projects happening in Saskatoon, housing project initiatives and little tax breaks, which are all incentives to try something new. It’s no secret that the west side of Saskatoon has become a haven for new businesses and a cheaper way for those who wish to live and work near downtown.

The river landing has been developed, the bus barns in Caswell Hill are being leveled for green space, and Riversdale broke a single year record for opening up the most businesses in one calendar year. These are just a few reasons why you should consider investing in the west side of Saskatoon.

If you’re concerned about the crime rates, why don’t you check out the Saskaton Police Service Crime Map. You can modify your search to adjust the dates, drag and pull the map to check out any area in Saskatoon and every crime is colour coded. Before you pre-judge a neighbourhood, please check this out first.

Here are a few links on revitalization projects in Saskatoon’s core neighbourhoods. Contact us today for investment opportunities and available listings.

To view Saskatoon MLS listings on our website, click here and scroll down to your desired neighbourhood.

Caswell Hill

Caswell Hill Local Area Plan

Caswell Hill Community Association

Bus Barn Relocation

South Caswell Hill Plan

Condos in Caswell Hill

Pleasant Hill

Pleasant Hill Revitalization

Pleasant Hill Turning Corner

Riversdale

Riversdale Revitalization

Riversdale Business Development

Blog on Business Development