Market Updates

Found 64 blog entries about Market Updates.

SASKATOON REAL ESTATE REPORT

February Update:

February's residential sales of 352 units were up from January's total of 278. They were up 53.04% from February 2020 which saw 230 units sell!

- 131 of the 352 were in the price range between $200,000 - $349,999 (37.22%)

- $200,000 - $299,999 had 85 units sell (24.72%)

- $300,000 - $349,999 had 38 units sell (12.50%)

Here are some interesting numbers for February

-$500,000 - $750,000 had 37 units sell, February 2020 saw 15 units sell

- $750,000 - $999,999 had 8 units sell, February 2020 saw 0 units sell

- $1,000,000+ had 1 unit sell, February 2020 saw 0 units sell.

When home sales are up, along with higher priced homes, it's an indication that consumers are confident in the

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SASKATOON REAL ESTATE REPORT

January Update:

January's residential sales of 278 units were up from December's total of 274. They were up 26.94% from January 2020 which saw 219 units sell!

- 124 of the 278 were in the price range between $200,000 - $349,999 (44.60%)

- $200,000 - $299,999 had 85 units sell (30.58%)

- $300,000 - $349,999 had 38 units sell (13.67%)

Is the market still hot? Last January there were 24 houses sell priced over $500,000. This January there were 42!

For more details on these stats, compiled by the Saskatoon REALTORS® Association click here.

What is selling the most; Single Detached? Townhouses? Apartment style condos?

- Of the 278 sales in January

 - 188 were single detached (67.63%) 

 - 50

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If you haven't already heard, the 2021 real estate market in Saskatoon is crazy low in inventory, with homes selling faster and faster as spring approaches. Certain price ranges and property types are especially short this year, so we thought we would take a moment to share with you the 5 we are most in need of this year. Think yours might be one of them? Contact me today and let's get it listed while the market's hot!

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A very small portion of the population is able to pay cash for a home purchase. Most people need to take out a mortgage to purchase a home. Small changes in interest rates can make a big difference in how much interest is paid over the lifetime of the mortgage. Join me as I explore what the interest rates are doing since COVID-19 hit and why you should sell now, during a pandemic.

Interest Rates in Canada

The Bank of Canada slashed its benchmark interest rate to help stimulate the economy. And even though the Bank of Canada doesn’t set all mortgage rates, they do have some impact on rates overall.

The Bank of Canada uses interest rates to control the economy. When the economy is strong, they may raise the rate to keep inflation from rising

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SASKATOON REAL ESTATE REPORT

 December Update:

December's residential sales of 274 units were down from November's total of 358. They were up 34.98% from December 2019 which saw 203 units sell!

- 112 of the 274 were in the price range between $200,000 - $349,999 (40.88%)

- $200,000 - $299,999 had 65 units sell (23.72%)

- $300,000 - $349,999 had 47 units sell (17.15%)

For more details on these stats, compiled by the Saskatoon REALTORS® Association click here.

What is selling the most; Single Detached? Townhouses? Apartment style condos?

- Of the 274 sales in December, 196 were single detached (71.53%) Up from 69.0% in November.

 - 44 were Semi Detached (Townhouses, 1/2 duplex)  (16.05%) Up from 14.1% in November.

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The 2021 real estate market in Saskatoon is already hot and bustling, with listings heading out the door faster than they have in a while. This means the home buying experience is going to look a little different than you may remember, if you've done it before. And if this is your first time buying a home—you're in for a real treat! Here are 5 tips to get you ready to buy a house in the 2021 real estate market in Saskatoon!

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Have you taken the time to browse through the listings in Saskatoon?  If you have, you may have noticed a lack of options available, especially homes ranging in price between $300,000 and $500,000. It’s all thanks to the seller’s market that we are currently experiencing!  

Seller’s Market vs Buyer’s Market vs Balanced Market

Understanding the difference between a seller’s market, a buyer’s market, and a balanced market is important no matter if you’re buying a home, selling a home, or trying to do both at the same time. 

A seller’s market signals that there is more demand for homes than there is supply.  A buyer’s market, on the other hand, happens when there’s ample supply but less demand. In a buyer’s market, not only is there more

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Will sales of vacation properties in Saskatchewan

be as hot as the residential housing market?

 

Check out this beautiful lakefront property for under $400,000!

The answer?

It's already happened!

Vacation property sales in Saskatchewan went from 291 in 2019 to 459 in 2020, that's an increase of 57.7%! If you are wondering about 2015-2017, we only started tracking these sales in late 2017!

Did the average price go up as well? This chart shows us that the average price went up 10.7% from 2019 to 2020, this is for all of Saskatchewan.

 

 

This chart shows Emma Lake, were the average went up 29.7% from 2019 to 2020!

Obviously, the more popular the lake or the location, the higher the price has gone up.

   

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November 2020 sales 47.33% higher than November 2019!

 

November Update:

November's residential sales of 358 were down from October's total of 430. They were up 47.33% from November 2019 which saw 243 units sell!

- 158 of the 358 were in the price range between $200,000 - $349,999 (44.1%)

- $200,000 - $299,999 had 108 units sell (30.1%)

- $300,000 - $349,999 had 50 units sell (14.0%)

For more details on these stats, compiled by the Saskatoon REALTORS® Association click here.

What is selling the most; Single Detached? Townhouses? Apartment style condos?

- Of the 358 sales in November, 247 were single detached (69.0%) Down from 74.2% in October

 - 50 were Semi Detached (Townhouses, 1/2 duplex)  (14.1%) Up from 13.0% in

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October 2020 sales 41.45% higher than October 2019!

 

October Update:

October's residential sales of 430 were the same as September's total of 430. They were up 41.55% from October 2019 which saw 304 units sell!

- 175 of the 430 were in the price range between $200,000 - $349,999 (40.7%)

- $200,000 - $299,999 had 105 units sell

- $300,000 - $349,999 had 70 units sell

For more details on these stats, compiled by the Saskatoon REALTORS® Association click here.

What is selling the most; Single Detached? Townhouses? Apartment style condos?

- Of the 430 sales in October, 319 were single detached (74.2%)

 - 56 were Semi Detached (Townhouses, 1/2 duplex)  (13.0%)

- 48 were Apartment style Condos (11.2%)

- The remaining 7

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