Sales and listing activity were both brisk for the Saskatoon real estate market this week. Local agents reported 56 firm residential deals to the multiple listing service®, well up from 39 last week, and enough to finish ahead of the same week last year by three. New listings slipped lower from 167 Saskatoon homes last week to 143 for this week, 13 fewer homes than were added to the MLS® during the same period a year earlier.


 

Residential sales and listing activity from the Saskatoon MLS for the week of January 22-28, 2017

 

 

For the second week in a row, the total number of Saskatoon homes for sale on the MLS® was up year-over-year. Not by much, but up. Total active listings in the residential category sit at 1627 this morning, for a gain of nine compared to last week’s close, and up just three from the count at the close of the same week a year ago. The number of single-family homes for sale in the city is actually down annually from 884 to 856. The selection of condos, on the other hand, is up from 585 a year ago to 627 today.

 

 

Active Saskatoon residential MLS listings for the week of January 22-28, 2017

 

 

Four pretty big transactions including the first residential sale in 2017 to top one-million dollars added nearly $3.5 million to the total dollar volume of sales and pushed the average price for the week up close to ten thousand dollars as it reached $343,853. Still, the weekly median price moved in the opposite direction as buyers who favoured the lower end of the Saskatoon real estate market were most active. That measure came in at just $314,500. Meanwhile, the longer-term measures both made gains as the six-week average price of a Saskatoon home took a solid jump to $340,590 but closed the week down on a year-over-year basis by thirteen thousand dollars. The four-week median price edged up to $337,386 to find itself short of last year’s number by just six hundred bucks.

 

 

Average and median prices for Saskatoon homes sold MLS for the week of January 22-28, 2017

 

Historical six-week average price for Saskatoon homes sold MLS through the week of January 22-28, 2017

 

Historical four-week median price for Saskatoon homes sold MLS through the week of January 22-28, 2017

 

 

 

 

While six sellers did close a deal at their asking price, just one found a buyer willing to pay more. That sale went down in area four and netted the seller a bonus of two thousand dollars. Over the week, 49 buyers managed to grind their seller to pick up an average discount of $16,045. The number was seriously skewed by two sales, both at the upper end of market prices for the week and both selling 100K below the asking price. Spread across the 49 deals, those two huge discounts are driving the average up by nearly $4,100.00.

 

 

Saskatoon residential sales and listing statistics for the week of January 22-28, 2017

 

 

I’m always happy to answer your Saskatoon real estate questions.  All of my contact info is here. Please feel free to call or email.

 

Norm Fisher

Royal LePage Vidorra

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The number of firm Saskatoon real estate sales took a small dip this week as local agent reported just 39 residential trades, a decline of three from the previous week, and seven fewer than we saw during the same period of 2016. Meanwhile, the number of Saskatoon homes that were listed for sale inched down by one this week to 167 to finish well above last year’s number of just 136.

 

Residential sales and listing activity from the Saskatoon MLS for the week of January 15-21, 2017

 

Softer sales and more new listings meant higher inventory numbers. By this morning, the total number of residential properties for sale on the multiple listing service® reached 1618, up 48 from a week earlier, leaving us up over last year by seven homes. All of the gains can be attributed to the condominium category which saw its numbers grow from 575 a year ago to 626 today. The number of single-family homes for sale has slipped lower to 850 from 881 at this time last year.

 

Active residential MLS listings for the week of January 15-21, 2017

 

With some continued softness at the upper end of the Saskatoon real estate market (only one sale above the $500,000 mark this week), the average price of a local home slipped to $335,654 even as the weekly median price grew to $322,000. The longer term measures both moved lower as the six-week average price dropped by nearly three thousand dollars to $335,671 which is down about 10K from the close of the same week last year. The four-week median took a solid dive to just $316,000 to find its lowest point in well over a year. It finished the week down from a  year ago by fifteen thousand and five hundred dollars.

 

Average and median prices for Saskatoon homes sold MLS for the week of January 15-21, 2017

 

Historical six-week average price for homes sold MLS through the week of January 15-21, 2017

 

Historical four-week median price for homes sold MLS through the week of January 15-21, 2017

 

Competitive bidding picked up a bit as three Saskatoon home sellers found a buyer willing to pay more than their asking price to deliver an average overbid of $2,733. On the other side of the negotiating table, 31 buyers ground themselves a discount that averaged $9,447. That’s lower than last week by about six thousand dollars. The other five deals closed at the full asking price.

 

Saskatoon residential sales and listing Activity for the week of January 15-21, 2017


I’m always happy to answer your Saskatoon real estate questions.  All of my contact info is here. Please feel free to call or email.


Norm Fisher

Royal LePage Vidorra

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View full listing details here.

Offered at $1,123,800 MLS® 

Welcome to 538 Hartley Terrace in the Stonebridge area of Saskatoon. You won’t live here long before you get the feeling that this house knows what you need and when you need it. It delivers with a full Control Four system to bring your family the ultimate in comfort all day, and all night. Lights, security, media…effortlessly controlled and enjoyed. This home is built for people…people who love people. It’s an entertainer’s dream with an open main floor living area featuring ten-foot ceilings, a stunning kitchen, and gorgeous Brazilian Cherry hardwood floors. The real prize is the location and the expansive view you’ll enjoy daily overlooking Howard Harding Park, its beautiful lake and the spectacular homes that surround it. Simply breathtaking. The view is easy to enjoy from nearly anywhere on the main level and much of the walkout basement but we expect you’ll prefer to take it in from outside. In a yard like we’ve never seen, you’ll start your days watching the sunrise as nature awakes before you. Enjoy breakfast by your private creek. Bask in an abundance of natural light and warmth all day, then escape to the shade later when you’re likely to be preparing dinner in the outdoor cooking area. This story continues with our images and 3D tour.

 

Interested parties should contact Lyndon Neher at 306-380-9090 for details and showing arrangements. 

 

Last year, TeamFisher.com hosted 334,888 user sessions. Those users viewed 1,594,672 listings while they were here providing our sellers with prime exposure. If you have a home to sell, we'd be happy to represent you and prominently display your home here. 

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Saskatoon real estate activity showed some signs of life this past week as the number of local homes that traded began its slow seasonal climb. There were 42 firm residential sales reported to the Saskatoon MLS®, an increase of 12 from the previous week, and up by one when looking back at the same week last year. Sales activity remained in single digit territory in all but one of the five major housing areas, with area three seeing a single sale for the second week in a row. After opening 2017 with some really big numbers last week, new listings fell lower to 168 homes, down 52 on a weekly basis. That was, however, enough for an annual increase of nine listings.

 

Saskatoon residential sales and listing Activity for the week of January 8-14, 2017

 

The inventory of active Saskatoon real estate listings also pushed higher, as it will now during most weeks over the first half of the year as it moves towards its annual peak. Today’s totals show 1570 residential properties with an “active” status, down from a year earlier by just eight homes. We currently have 827 properties in the single-family category, down from 875 a year ago, and 605 condominium listings, up from 539 at this time last year.

 

Active residential MLS listings for the week of January 8-14, 2017

 

The median sale price for the week gained some ground coming in 25K higher than the previous week at $314,500. The average sale price for the week also moved up and finished the week at $337,970. Meanwhile, the longer term measures that we track both edged lower from last week. The six-week average price slipped just a few hundred dollars to $338,546 to find itself down on an annual basis by close to sixteen thousand dollars.  The four-week median price fell nearly three thousand dollars for the week but finished ahead of where it was a year ago by forty-five hundred dollars.

 

Average and median prices for Saskatoon homes sold MLS for the week of January 8-14, 2017

 

Historical six-week average price for homes sold MLS through the week of January 8-14, 2017

 

Historical four-week median price for homes sold MLS through the week of January 8-14, 2017

 

 

Following several weeks with no overbid sales, that seller losing streak was broken this week as a single area four home fetched $1,100 more than the asking price in some kind of a bidding war. Another two sellers snagged a list price sale, both of those properties were new homes. The remaining 39 deals closed below the asking price netting those buyers some hefty discounts averaging $15,760.

 

Summary of Saskatoon real estate activity for homes sold and listed MLS for the week of January 8-14, 2017

 

 

I’m always happy to answer your Saskatoon real estate questions.  All of my contact info is here. Please feel free to call or email.

 

Norm Fisher

Royal LePage Vidorra

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You may have read the Star Phoenix story in yesterday’s paper regarding two tenants of the Barry Hotel who successfully appealed their eviction notices allowing them to continue to reside there until May 31. It’s important for tenants and landlords to understand their rights and their obligations when it comes to the termination of a tenancy. Here’s a quick look at the legislation as outlined in the Residential Tenancies Act.

 

Under Section 60 of the new Residential Tenancies Act:


A landlord may end a periodic tenancy respecting a rental unit if:

 

(a) the landlord enters into an agreement in good faith to sell the rental unit;

(b) all the conditions on which the sale depends have been satisfied; and

(c) the purchaser asks the landlord, in writing, to give notice to end the

tenancy on one of the following grounds:

(i) the purchaser is an individual and the purchaser, or a close family

member or friend of the purchaser, intends in good faith to occupy the

rental unit;

(ii) the purchaser is a family corporation and an individual owning

voting shares in the corporation, or a close family member or friend of

that individual, intends in good faith to occupy the rental unit.

 

A landlord may end a periodic tenancy respecting a rental unit if the landlord has all the necessary permits and approvals required by law, and intends in good faith, to do any of the following:

 

(a) demolish the rental unit;

(b) renovate or repair the rental unit in a manner that requires the rental unit to be vacant;

(c) convert the residential property to condominiums pursuant to The CondominiumProperty Act, 1993;

(d) convert the residential property into a continuing housing co-operative as defined inThe Co-operatives Act, 1996;

(e) convert the rental unit for use by a caretaker, manager or superintendent of theresidential property;

(f) convert the rental unit to a non-residential use.

Also under Section 60:

(8) A notice pursuant to this section must comply with section 63.

(9) A tenant may dispute a notice pursuant to this section by applying for an order pursuant to section 70 within 15 days after the date the tenant receives the notice.

(10) If a tenant who has received a notice pursuant to this section does not apply for an order pursuant to subsection (9), the tenant:

(a) is deemed to have accepted that the tenancy ends on the effective date of the notice; and

(b) must vacate the rental unit by that date.

 

Regarding proper notice, Section 63 states:

 

To be effective, a notice to end a tenancy must be in writing and must:

 

(a) be dated and identified as originating from the landlord or tenant giving the notice;

(b) give the address of the rental unit;

(c) state the effective date of the end of the tenancy;

(d) state the grounds for ending the tenancy; and

(e) when given by a landlord, be in the approved form.”

 

Additional Tenant Rights

 

Having received a notice of a termination of the tenancy, a tenant has the additional right to end the tenancy earlier by giving the landlord at least 10days written notice and paying the proportionate amount of rent.

 

In the event that the landlord does not carry out the intended purpose stated in the Notice, a tenant may seek compensation for having moved.


form which is approved for use can be found here on the province’s Justice and Attorney General website.

 

Norm Fisher
Royal LePage Vidorra

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The educational model for becoming a real estate agent in the province of Saskatchewan changed on July 1, 2014. This post outlines the new requirements for entry with the most recent costs.

 

All requirements and prices are valid at the date of publication and are subject to change, without notice, at the discretion of the organizations and associations responsible.

 

Provincial legislation in Saskatchewan states that anyone wishing to represent members of the public in a real estate trade in Saskatchewan must be registered. The Saskatchewan Real Estate Commission(SREC), an independent, non-government agency, responsible for regulating the real estate industry in Saskatchewan, mandates qualifications for registration.

 

First of all, people wishing to become registered to trade in real estate as a sales person must have completed Grade 12, or equivalent.

 

Secondly, prospective registrants must complete a home study course known as Real Estate as a Professional Career, which is offered by the Association of Saskatchewan Realtors® (ASR). Enrolled students have one full year to complete the program. Before the conclusion of the one-year period they must present themselves for an examination and obtain a mark of at least 70%.

 

Once they have completed Real Estate as a Professional Career, prospective registrants must complete the following specialty courses.

 

  • Residential Real Estate as a Professional Career
  • Commercial Real Estate as a Professional Career
  • Farm Real Estate as a Professional Career

All three of the specialty programs are offered by the ASR on a home study basis. Enrolled students have two full years to complete all three specialty programs. Before the conclusion of the two-year period they must present themselves for an examination on each program and obtain a mark of at least 70%. Students wishing to practice in the field of property management must also complete the following course. The cost of this course is the same as the other three specialty courses outlined below.

 

  • Property Management as a Professional Career

Once a person completes the mandatory courses they qualify to apply for registration to trade in real estate within the province of Saskatchewan. An application for registration as a licensed salesperson, signed by an employing broker, must be made to the SREC within two years of successfully completing the chosen specialty course. Applicants must produce proof of having obtained a Grade 12 or equivalent, and a completed criminal record check.

 

      Cost
MandatoryEducational Courses      
Real Estate as a Professional Career     $1,399.00
Examination Fee (first attempt in included - $155 for additional)     0
Residential Real Estate as a Professional Career     $799.00
Examination Fee (first attempt in included - $155 for additional)     0
Commercial Real Estate as a Professional Career     $799.00
Examination Fee (first attempt in included - $155 for additional)     0
Farm Real Estate as a Professional Career     $799.00
Examination Fee (first attempt in included - $155 for additional)     0
Total Cost for Mandatory Educational Courses     $3,796.00
       
Provincial Licensing and Related      
Registration for Salesperson License     $330.00
Mandatory Errors and Omissions Premium     $255.00
Real Estate Assurance Fund Levy     $100.00
Total Cost for Provincial Licensing and Related     $685.00
       
Other Incidental Costs      
Criminal record check     $25.00
       
Total estimated cost to become a real estate agent in SK.     $4,506.00

 

You can register for these courses online or at the office of the Association of Saskatchewan REALTORS® located at 2811 Estey Drive in Saskatoon. In addition, within each one-year registration renewal period, all registrants are required to complete mandatory continuing education known as the Continuing Professional Development (CPD) Program approved by the Commission and provided by the ASR.

Becoming a REALTOR®

The majority of the real estate companies in Saskatchewan, particularly those located in the urban areas are REALTORS®, and all of the sales people that they employ must also be REALTORS®. In addition to expanding the potential opportunities that might exist for a real estate registrant, choosing to practice as a REALTOR® also provides access to the Multiple Listing Service® (MLS®), a sophisticated system for sharing property information and commissions with other REALTOR® members. In a nutshell, the MLS® provides agents with easy access to a large inventory of homes for sale, and access to a large number of sales people for the homes an agent may have listed for sale. Agents use this system to cooperate with each other for the aforementioned benefits and typically share commissions when they successfully bring a buyer and seller together to complete a real estate transaction.

 

Becoming a REALTOR® requires a registrant to become a member of the Saskatoon Region Association of Realtors®, the Association of Saskatchewan Realtors®, and the Canadian Real Estate Association(CREA). Members must commit to conduct their business in accordance with the rules and regulations of each organization, and the Code of Ethics of the CREA. Here are the costs associated with becoming a member of these organizations.

 

      Total
       
Real Estate Association Joining Dues      
Saskatoon Region Association of REALTORS®     $315.00
Association of Saskatchewan REALTORS®     $346.50
Canadian Real Estate Association     $210.00
Total Cost for Real Estate Association Joining Dues     $840.00
       
Annual Real Estate Association Dues      
Saskatoon Region Association of REALTORS®     $52.50
Association of Saskatchewan REALTORS®     $346.50
Canadian Real Estate Association (Annual dues & tech fee)     $325.50
Total Cost for Annual Real Estate Association Dues     $724.50
       
Post Licensing Education Requirements      
Saskatoon Region Association of REALTORS® New Member Course     $576.45
       
Total additional costs to become a REALTOR®     $2,140.95

 

That’s a brief overview of what it takes to become a real estate agent in Saskatchewan, and to become a REALTOR® in Saskatoon. If you have questions, or are interested in exploring a career in Saskatoon real estate I’d be happy to hear from you. My contact information is here.

Other resources

Association of Saskatchewan Realtors® website Association of Saskatchewan REALTORS Career Guide (a must read) Saskatchewan Real Estate Commission website Canadian Real Estate Association website Royal LePage Real Estate Career website Please note that the estimated costs outlined above were valid at the date of publication and are subject to change, without notice, at the discretion of the billing organizations.

 

Norm Fisher

Royal LePage Vidorra

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The first week of 2017 is in the bag and activity was pretty fierce, at least on the new listing side. Saskatoon real estate agents brought in 196 residential properties to be added to the multiple listing service®, which is well up from the previous week during which just 20 homes were listed for sale. The first week of the month is always a strong listing week as those listings that expired without a sale at month end come back for another go. During the same week last year, 220 new listings hit the market. On the other hand, residential sales grew from 26 the previous week to 30 by the time the MLS® closed on Friday. That number is down by five when compared against the same week last year.

 

Saskatoon real estate sales and listings for the week of January 1-7, 2017

 

I mentioned last week that the gap we had been seeing in the year-over-year inventory measure has been getting smaller and smaller each week. Today, it’s nearly gone. As of this morning, there are 1537 active residential listing for sale on the MLS®, down just five from the close of the same week last year. Single-family homes inventory is lower by 56 units from a year ago at 805. Condo inventory is sharply higher, once again. They sit at 600 units today, up from 520 a year earlier.

 

Active Saskatoon real estate listings for the week of January 1-7, 2017

 

The price measures are always a bit wonky when we are looking at such low volume weeks. Throw in an additional hand full of sales towards the lower end of the market and we see both the median price and the average price for the week fall to $291,250 and $330,443 respectively. While the six-week average price was down from last week by just a few hundred dollars, it plummeted pretty hard on an annual basis falling from $359,393 last year to $338,991 this week. The four-week median price moved lower by about six thousand dollars from last week to close at $331,850. That’s down just a bit from $333,500 at the close of the same week a year ago.


Six week average and four week median prices of Saskatoon homes


Historical six week average prices of Saskatoon homes


Historical four week median prices of Saskatoon homes

 

 

The total shut-out on overbid sales continued this week. While five sellers did manage to close a full price deal, the other 25 had to give up some dough and adjusted their expectations for an average discount of $14,956.


Residential sales and listing activity from the Saskatoon MLS for the week of January 1-7, 2017


I’m always happy to answer your Saskatoon real estate questions.  All of my contact info is here. Please feel free to call or email.


Norm Fisher

Royal LePage Vidorra

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Welcome to 310 Greaves Court in the the Willowgrove area of Saskatoon.

Offered at $549,900 MLS®

 

View full listing details here.

 

This is truly one of the most spectacular Willowgrove two-storey homes that we have had the pleasure of marketing. It’s stunning. Really. Packed with high end finishes and appointments, this three plus one bedroom, four bath home has all the comforts and the visual pleasures that you’d expect of a luxury home. Gorgeous hardwood floors adorn the main level which offers an open plan with large windows and plenty of natural light. The kitchen has lovely high quality wood cabinetry with ceramic backsplash, granite countertops, corner sinks, full walk-in pantry, stainless steel appliances and an island that can comfortably seat four. Like to entertain? Feel free to move to the dining area for your larger gatherings. These rooms overlook the main floor living room where you’ll enjoy the comfort of the natural gas fireplace. The lower level is beautifully developed and includes a three-piece bathroom with heated floor, a bedroom and a large family room with fireplace, surround sound, and wet bar with a wine fridge. A few unique built-ins and storage nooks give the home its uniqueness. Unwind at the end of the day in a jetted tub in the master which is sized for two to enjoy. Amazing yard!

 

Interested parties should contact Lyndon Neher at 306-380-9090 for details and showing arrangements.

 

Last year, TeamFisher.com hosted 334,888 user sessions. Those users viewed 1,594,672 listings while they were here providing our sellers with prime exposure. If you have a home to sell, we'd be happy to represent you and prominently display your home here. 

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