Archive for the ‘Current Market’ Category

« Older Entries
Newer Entries »

Saskatoon Real Estate Current Market – February 12, 2009

Thursday, February 12th, 2009

Despite a slow second half of the year for Saskatoon real estate in 2008 it appears that 2009 is starting out strong. In Saskatoon we have had 331 homes sold or with solid conditional offers on them between January 1st and February 12th, 2009. This is still very much a buyer’s market and we still have over 1100 home listed MLS in Saskatoon, but people are starting to buy again after what seemed like a very long and dry time from August-December. Houses were still being sold in this period but with all of the inventory you barely noticed the sold signs. I think everyone has seen many more sold signs on Saskatoon homes in the past 2.5 months than they did for the previous 4 months.

This is a great time to get in and buy for the first time or to purchase revenue properties or to ‘move up’ if you are looking to increase the size of your home. I believe by 2010 our market will be completely balanced again as the inventory will be cleaned up. We can then expect an increase in house prices in Saskatoon, although overly optimistic people think that things will go up earlier than that with our still strong Saskatchewan economy. But that is just my opinion and feeling!

If you have any questions or comments about the Saskatoon real estate market feel free to contact me at anytime!

Kari Calder
Saskatoon Real Estate Agent
Century 21 Conexus Realty Ltd

Posted in Canda Real Estate News, Current Market, International Real Estate, Saskatchewan Real Estate, Saskatoon Real Estate | No Comments »

Saskatoon Housing Starts

Wednesday, February 11th, 2009

Housing starts in the month of January 2009 were down significantly from 2008 according to the Canada Mortgage and Housing Corp (CMHC). New construction is down 69% from last year with only 21 single-detached homes in the Saskatoon area and only 12 multi-family units down from 134 multi-family starts in January 2008.

Paul Caton, CMHC’s senior market analyst for Saskatchewan, states that Saskatoon housing starts are likely to be down for the bulk of the year for 2 reasons. The first is the high level of inventory already on the market causing Saskatoon home builders to hold back until demand for new homes rises. The other very important factor to consider is that the housing starts in Saskatoon for the entire year of 2009 will be compared to the robust starts of 2008. The year 2008 saw record breaking construction starts in Saskatoon so this throws off our statistics. If we are to compare 2009 with 2006/2007 we will see that the Saskatoon housing market is still strong. So while it appears like a decline when compared to 2008, it is actually still very strong.

At the end of January we did see 1156 houses for sale in the city of Saskatoon. The average price for a home in Saskatoon in January was $278,645. This is up from January, 2008 despite a slow fall. From the month of January until February 10th we have seen 308 firm sales or conditional sales in Saskatoon and even more in the surrounding areas.

There are still a lot of homes for sale in Saskatoon and a lot to choose from which means it is still a buyer’s market, but a lot of the product that had been sitting for months is now selling. Combined with the ultra low interest rates and the abundance of product now is a great time to buy a house in Saskatoon. If you need help in buying a home in Saskatoon or want some information on listing your home in Saskatoon, contact your Century 21 Agent Kari Calder.

Thank you!

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

Housing Sales to Rise Again in Saskatoon

Thursday, December 11th, 2008

Saskatoon’s housing market is expected to be one of the few that comes out ahead in 2009. Re/Max representatives have been quoted as predicting Saskatoon’s real estate market will see the highest percentage increase in sales units for 2009 out of 22 major markets. Regina’s real estate market is expected to stay the same, matching this year’s sales.

Of course, Canada’s housing market performance will depend on economic performance, says Michael Polzier, of Re/Max in Ontario/Atlantic Canada. Until consumer confidence is regained, the housing market in Canada will not be remedied, but if inventory levels remain stable this could happen as early as spring. The lower interest rates also stimulate home-buying activity. The new interest rate along with the abundance of product make this a great time to buy a house in Saskatoon and other areas. The average Saskatoon home price is expected to end up at approximately $289,000, up 24% from last year and it is expected to creep up even closer to $300,000 in 2009.

Although unit sales (number of houses sold in Saskatoon) are down from 2007, they should rise slightly in 2009. High inventory levels played a role in the Saskatoon housing market. New houses in Saskatoon and speculation also affected the inventory levels, but we should see a more balanced market in 2009.

One of the reasons for the increased demand for housing in Saskatoon for 2009 is that there will be more job opportunities in Saskatoon at higher income levels which will attract people from out of town and out of province. Also, thanks to improved economy in Saskatoon, more people will return from out of province.

We won’t see vast increases in house prices in Saskatoon next year, but a more conservative increase once the inventory gets back to normal. Our Saskatoon real estate market is now stabilizing. There are some that still expect house prices dropping further in Saskatoon, but we are starting to see houses selling in Saskatoon much more quickly and there are many more sold signs in the past 2 weeks than there had been in a few months.

This is a great time to pick up a bargain in Saskatoon!

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

Posted in Buyers, Canda Real Estate News, Current Market, News, Saskatchewan News, Saskatchewan Real Estate, Saskatoon Real Estate | No Comments »

Saskatoon Real Estate Market Update – June 25, 2008

Thursday, June 26th, 2008

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.

Posted in Buyers, Current Market, News, Saskatoon Real Estate | No Comments »

Saskatoon Real Estate Market Update – May 12, 2008

Wednesday, May 14th, 2008

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.

Posted in Current Market, Saskatoon Real Estate | No Comments »

Saskatoon Real Estate Still Affordable

Wednesday, April 23rd, 2008

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.

Posted in Current Market, News, Saskatoon Real Estate | No Comments »

Condo Conversions On Hold In Saskatoon

Thursday, April 17th, 2008

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.

Posted in Current Market, News, Saskatoon, Saskatoon News, Saskatoon Real Estate | No Comments »

Saskatoon Real Estate Prices Surpass Edmonton

Saturday, April 5th, 2008

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.

Posted in Canda Real Estate News, Current Market, News, Saskatchewan Real Estate, Saskatoon Real Estate | No Comments »

Saskatoon New Home Developments Breaking Records

Monday, March 17th, 2008

New HomeNew 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.

Posted in Buyers, Current Market, News, Saskatoon Real Estate | No Comments »

Saskatoon Condo Conversion Update

Sunday, March 2nd, 2008

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

« Older Entries
Newer Entries »