Real Estate Blog

MEDIA RELEASE Jason Yochim, Chief Executive Officer
 

Home Sales Soften in November

Saskatoon December 5th, 2018.
The total number of residential home sales for the month of November in Saskatoon on the Multiple Listing Service (MLS®) totaled 203 units. This represents a 22% decline compared to the same month last year. The highest total for sales to the end of November was in 2014 reaching 4,203 transactions. This total has been steadily declining since with year to date sales at the lowest in ten years. At the end of last month there was a total of 3,167 residential MLS® transactions in the city, this is a 25% decline from the high of 2014. 

Total new residential MLS® listings has
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Consider these tips before diving head first into the investment property market:

  1.       Determine what you can afford to buy, you’ll need a minimum down payment of 20 percent for a small rental property.
  2.       Do some research on the areas your considering and find out what the going rents are.
  3.       Just like your home, a rental property is a valuable asset.  Ensure you choose the proper insurance to help protect you from the financial impact of any unforeseen events.
  4.       Consider a property manager.  While this will cut into the cost of your rental revenue, it could help to minimize your stress level
  5.       Good tenants are hard to find.  Property managers will screen potential tenants for you, but as a landlord, you’ll need to know
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Declutter – clear off all of your counters and ensure any unnecessary decorative are packed away.  Don’t forget to declutter your garage too!

Keep it clean – A deep clean before even listing your house will help to make upkeep easier for you.

Deal with minor repairs – They may seem minor, but cracked caulking, a torn screen or a dripping faucet could give buyers the impression that your house isn’t well maintained.

Tidy the bathroom – Put away your personal toiletries, along with old towels and toothbrushes.

Head out – It can be awkward for the potential buyers if you’re at home during a showing.    

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