26. June 2008 by Kari Calder.

The current Saskatoon real estate market is DEFINITELY a buyer’s market which we haven’t seen in quite some time! Bring on the buyers is what I say as it is finally your turn with the Saskatoon real estate market being flooded with new listings. There are more listings now than ever before and some of the people selling their homes in Saskatoon are very motivated. This means a better time for you to buy, but keep in mind, not all houses for sale in Saskatoon are going to negotiate on price.

The Saskatoon real estate market has leveled out, prices are stabilizing, sellers are sometimes needing to sell therefore negotiating more on price.

Buyers are a bit overwhelmed with all the listings on the market in Saskatoon, but they can be a bit more picky than before.

So, if you are looking to buy a home in Saskatoon, the time is now. Our economy is so strong for the next 10 years plus that it is still a smart place to buy properties for investment in the future.

Whether you are looking at buying or selling real estate in the Saskatoon or surrounding area I would be happy to assist you.  Be sure to contact me and I will provide you additional information and help you in anyway I can!

Kari Calder
Saskatoon Real Estate Agent
Century 21 Conexus Realty Ltd.

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14. May 2008 by Kari Calder.

Our Saskatoon Real Estate market has seen a great increase in listings over the past month. We have at least 500 single family dwellings actively for sale on Saskatoon MLS and 218 active condos in Saskatoon. In small towns outside of Saskatoon there are at least 500 listings on the market as well.

People are wondering if this means that prices will drop in Saskatoon. While we are seeing people reducing the prices on their homes for sale in Saskatoon, the market is not going down in Saskatoon. Our economy in Saskatoon and Saskatchewan is very strong and the forecast in the next 10 years looks outstanding, but many people were expecting spring to be as crazy as it was last year so too many sellers held off listing until now and it appears to have backfired on them.

It is just a matter of time before some of these listings get cleaned up, but for now it means that we have a balanced real estate market in Saskatoon once again and that is hard for sellers to understand and cope with. While some people are willing to move on the price, many sellers are still not motivated to negotiate on the prices… especially builders in Saskatoon. So that being said, it is a great time to buy a house in Saskatoon as you can get what you want and you may be able to get it for a bit less than list price. If you are interested in buying real estate in Saskatoon, be sure to contact me and I would be eager to assist you any way I can!

Kari Calder
Saskatoon Real Estate Agent
Century 21 Conexus Realty Ltd.

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23. April 2008 by Kari Calder.

In a recent article by the Saskatoon Star Phoenix, the Saskatoon real estate market is still affordable.  This is very true but people looking to buy in the Saskatoon real estate market may need to look a bit harder and be patient.  People that are looking to spend under $200,000 can’t have the same expectations as they did a few years ago.  The reality is that the Saskatoon real estate market has boomed resulting in a big increase of home prices across the city.  However there are still homes available at affordable prices.  In the article it mentions of a home being sold for $80,000 this year.  This in fact did happen in 2008.  Buyers that are looking to spend under $200,000 have to come to an understanding that they may have to be flexible as there as less options under this price mark in Saskatoon.  

There is a large demand for cheaper housing in Saskatoon so it is critical if you are looking to buy or sell real estate in Saskatoon that you work with a qualified Saskatoon real estate agent.  When working with an agent when buying a home, they can provide you access to new listings before they are available to the general public, as well they can provide you in depth information on the history of a property.  When working a hot real estate market such as this, time is of importance when dealing with homes that are highly sought after.  When selling your home you don’t want to leave money on the table.  By working with a Saskatoon Realtor, they should be able to provide you in depth information on pricing your home ensuring you get the most for your home.  A lot of people that sell their properties privately either price their home too high resulting in it not selling or pricing it too low and losing money.  If you are interested in either buying or selling a home in the Saskatoon real estate market be sure to contact me and I will be very happy to assist you.

Kari Calder
Saskatoon Real Estate Agent
Century 21 Conexus Realty Ltd.

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17. April 2008 by Kari Calder.

The topic of condo conversions in Saskatoon has been a hot topic for the past year.  Many Saskatoon renters have been demanding the city of Saskatoon do something to address the extremely low vacancy rate for rental property in the city.  Many apartment building owners over the past two years have been taking advantage of the extremely hot Saskatoon real estate market and selling off their properties or converting them to condos themselves.

On Monday, April 14th after 5 hours in what the Saskatoon Star Phonenix described as a heated debate, a majority of city council voted to change civic policy so that apartment buildings will no longer be allowed to be converted into condos while the Saskatoon vacancy rate remains below 1.5%.  This could potentially be a big victory for Saskatoon renters but also could help to increase Saskatoon condo real estate prices in our city.  With less condos available on the market the average price will rise as the demand increases.

This new policy has not been officially passed and is still subject to another vote at council’s next regular meeting on April 21st.  If the policy is approved there are 14 existing buildings that filed for approval to be converted in 2007 that will not be subject to the new policy.  However any projects that were not submitted before the policy was passed will have to now wait until the Saskatoon vacancy rate rises above 1.5%.  It is expected though that the policy will provide special loop holes so that the city may still approve special projects such as buildings that have previously been condemned or else existing vacant buildings.

If you are currently interested in buying a condo in Saskatoon it may be a good time to start looking.  If the new policy is passed it will have an impact on Saskatoon condo prices.  Whether you are looking at buying or selling a condo in the Saskatoon real estate market be sure to contact me!

Kari Calder
Saskatoon Real Estate Agent
Century 21 Conexus Realty Ltd.

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5. April 2008 by Kari Calder.

The city of Saskatoon real estate market has reached a new peak in the first quarter of 2008.  All recent numbers indicate that the average cost of a home in Saskaton is now more expensive than the city of Edmonton.  A standard bungalow in the city of Saskatoon sold for an average of $340,000 in the first three months this year.  This is a 50 per cent raise in only one years time in Saskatoon.  In Edmonton the average price of a standard bungalow was $330,000 which is a drop of 4.9 per cent from the same time last year.  Two-story homes in Saskatoon on average are selling for $395,000 while in Edmonton they are selling for $363,707.  There is only one category where Edmonton is still more expensive than Saskatoon which is condos.  In Edmonton an average condo is selling for $235,000 while in Saskatoon they are selling for $220,00 but rising fast.  It is projected that the Saskatoon real estate market in all aspects will surpass the Edmonton real estate market by the second quarter of this year.

This is great news for existing Saskatoon home owners as they have earned a lot of equity in their homes.  This does however make it much more difficult for first time buyers or low income families.  The Saskatchewan economy is the fastest growing in Canada and it does not appear to be slowing down anytime soon.  The government of Saskatchewan are recording record profits and spending as well almost weekly we are hearing about new multi-billion dollar projects happening in our province.  The biggest issue that people trying to get involved into the Saskatoon real estate market face is that wages have not kept up to the cost of real estate prices.  In cities like Edmonton and Calgary the average household income exceeds Saskatoon’s by a fair amount.  We need to see an increase in wages to be able to maintain our current growth.  As more companies relocate to Saskatchewan we will start to see a more competitive job market resulting in higher wages.

If you currently own Saskatoon real estate or real estate in the surrounding towns such as Warman then this is your market.  If you are interested in selling your home be sure to contact me and I will provide you in depth information on the current market.  I can provide you a free home evaluation as well will ensure you get top dollar for your Saskatoon property.

To read more about this topic visit the Saskatoon Star Phoenix.

Kari Calder
Saskatoon Real Estate Agent
Century 21 Conexus Realty Ltd.

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17. March 2008 by Kari Calder.

New housing starts hit a 30-year record high in February in Saskatoon according to the Star Phoenix.  In February alone developers have started work on 175 new housing units.  The new developments in Saskatoon are almost split evenly between single-family homes and condo-style homes.  According to the CMHC (Canada Mortgage and Housing Corp) the 89 single-detached home starts are the highest amount they have seen since 1978.  The total number of 175 new home starts are 94 per cent higher than in February 2007.  Since January the total number of combined new home starts is 376 which include both single-family and multi-family developments.  This is 68 per cent higher that last year in the same time frame.  According to CMHC the demand for housing in Saskatoon is at an all time high.  The housing market is a direct affect of the Saskatchewan economy and the growth it is experiencing.  There is a large labor shortage in Saskatoon and with more and more people relocating to Saskatoon to fill that our housing market will continue to grow.  If you have been thinking about getting into the Saskatoon real estate market don’t want any longer, contact me today and I will be more than happy to provide you detailed information on the current Saskatoon and surrounding area real estate market.

Kari Calder
Saskatoon Real Estate Agent
Century 21 Conexus Realty Ltd.

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2. March 2008 by Kari Calder.

With the increase demand for real estate many owners of apartment buildings and rental property are currently looking to cash in and convert their properties into condos.  The topic of Saskatoon condo conversions has been a controversial topic in Saskatoon over the past year.  In August 2007 this issue was presented to the City of Saskatoon who rejected the ban on condo conversions.  According to the people who brought forward the proposal to ban condo conversions in Saskatoon, the people most affected are students, elderly and low income families.  The city indicated they would keep a close eye on this issue and deal with it as it moved forward.  A city councilor named Charlie Clark indicated when speaking to a crowd on February 28, 2008 that the owners of eight per cent of rental properties in Saskatoon are looking to convert them into condos.  Many people that normally wouldn’t have thought about purchasing a property are now looking into it.  In many cases purchasing a condo in Saskatoon can in fact be cheaper than your monthly rent.  There are a lot of additional benefits of purchasing real estate in Saskatoon than just saving money on your rent.  If you are interested in looking to get into the Saskatoon real estate market feel free to contact me for additional information.

Kari Calder
Saskatoon Real Estate Agent
Century 21 Conexus Realty Ltd.

Posted in Buyers, Saskatoon Events, Current Market, News, Saskatoon, Saskatoon Real Estate | 1 Comment »

5. February 2008 by Kari Calder.

Our current Saskatoon Real Estate market has picked up once again. After a small lull in the fall, the Saskatoon market has started out strong so far in 2008.

The 2007 overall average sales price in Saskatoon was $232,362 with January starting at $190,037 and ending in December with $255,271.

It seems that any homes that were listed in the fall and still on the market at the beginning of the year are now getting snapped up. Most people don’t want to wait for the spring boom this year which is actually propelling our market early. The Saskatoon market is once again in a sellers market with multiple offers already occurring.

So if you are thinking of buying a home in Saskatoon, don’t wait until Spring! Be prepared to be involved in a bidding competition though, even if a house is listed first come first serve as they may still get multiple offers. If you see a house in Saskatoon that looks like it may be ‘the one’ do not wait as you may miss out.

Contact me today if you are looking to either buy or sell a home in Saskatoon and the surrounding area!

Kari Calder
Saskatoon Real Estate Agent
Century 21 Conexus Realty Ltd.
www.karicalder.com

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23. January 2008 by Kari Calder.

If you are just starting out in the real estate market in Saskatoon, buying a condo in Saskatoon might be the best start. Buying a house in Saskatoon as a First Time Home Buyer is a lot more challenging than it was a year ago. When you are looking at buying a house now and it is your first time and you cannot spend more than $250,000 and you want to be in a safe area, most buyers are finding that they have no choice but to purchase a condo instead of a house. There is nothing wrong with starting out in a condo in Saskatoon as this is a great way to get into the market.  As many of you know the Saskatoon Real Estate market has seen huge growth and buyers must take that into consideration when looking to get into the market.

Condos in Saskatoon have many positives such as not having to worry about exterior maintenance, some units include water, heat, etc. But you have to do your due diligence and make calls to the appropriate parties (Sask Power/City of Saskatoon/Sask Energy, etc) to confirm what is and is not covered under your monthly condo fees.

Condo living is easy in general and with the growing number of people living in Saskatoon but working out of town for days and weeks at a time, buying a condo in Saskatoon would seem like the best thing to do.

Young condo owners are also growing in leaps and bounds due to the affordability and many people don’t want to worry about a yard, shoveling snow in the winter, exterior maintenance, etc. With our hard working society and many people juggling jobs, school, kids, etc it is nice to live in a condo as it is easier and saves you time.

Older people are also buying condos in Saskatoon as they recognize their limitations in home ownership once they get to a certain age. Instead of fighting it, many people are getting out of their houses and into condos at an earlier age so that they can enjoy life a bit more.

It seems that many people are now buying condos in Saskatoon as both investments and as residences. Unfortunately, many first time buyers want it all but are realizing that they may have to settle for something smaller, just to get their foot in the home owners market of Saskatoon. I am a big advocate of purchasing condos in Saskatoon as that was my first purchase. It got me started in the market and I have since been able to move up to buying a house in Saskatoon.

If an investor is buying in Saskatoon and his or her purpose is to utilize the condo as a rental unit, they are generally helping our community out as our vacancy rate is so low. So, if you are sitting on the fence about whether to buy a house in Saskatoon or buy a condo in Saskatoon, ask yourself what your lifestyle suits best as well as what your bank account can afford.

Contact me for more information on buying a condo in Saskatoon.

Kari Calder
Saskatoon Real Estate Agent
Century 21 Conexus Realty Ltd.
www.karicalder.com

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22. January 2008 by Kari Calder.

It is no surprise that our Saskatoon Real Estate market has seen a 50% jump from 2006 when you look at the statistics of population in our province.

Average house prices have risen from $165,000 to over $250,000 which is a 51% increase.

The Saskatoon real estate market was directly impacted by the influx of over 15,000 people in the past year. This finally puts our province above the 1 million mark. You can check out more stats about Saskatchewan at http://www.stats.gov.sk.ca/.

Saskatchewan’s real estate market took a big jump across the province this year and almost every city and town felt the market go up. People who wanted to buy a nice house in Saskatoon for a good price decided to go to Warman, Martensville and other surrounding towns as they simply could get more bang for their buck in these communities. Due to the demand and the small town feeling next to a big city (big by OUR standards of course!) the prices also started jumping in the surrounding communities.

Saskatoon real estate has finally caught up to some of our neighbouring provinces and the demand for buying houses in Saskatoon has not stopped. One of the reasons there are not a lot of homes for sale in Saskatoon right now is because of the lull over the holidays. The buyer’s market did not slow down as there were plenty of people buying homes in Saskatoon over the holiday season, but the inventory of homes for sale in Saskatoon didn’t keep up.

We do not have enough good labourers in this province to keep up with the demand of new homes to be built.

Houses for sale in Saskatoon seem to be dwindling after the Christmas market as people were here buying but not many people were putting their homes in Saskatoon for sale.

Whether you are looking at buying or selling a house in Saskatoon or the surrounding area feel free to contact me at anytime for further information.

Kari Calder
Saskatoon Real Estate Agent
Century 21 Conexus Realty Ltd.
www.karicalder.com
 

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