RSS

Saskatoon home buyers refuse to let up in November 2024: SRA

While remaining well above typical seasonal norms, Saskatoon home sales took a solid dip in November, sliding to 380 from 444 in October. That number remains higher by more than 21 percent compared to last November, and 32 percent above the ten-year average.

The brunt of the decline was seen in the single-family homes category which saw sales slip from 281 in October to just 224 in November. Condo sales, meanwhile, fell by eight units compared to the previous month.

The number of new listings offered for sale on the Saskatoon ML® continued to follow historical patterns dropping to 434 from 517 the month before. New listings were higher than last November by one percent and 16 percent below the ten-year average.

Meanwhile, the number of Saskatoon homes for sale on the MLS® reached its lowest point since March of this year as they fell from 803 at the previous month's close to just 693.

Total months of supply, while perilously low, remained stable at 1.8 as this strong seller’s market continued.

Again, supply levels of less than four months signal a seller’s market. A supply of four to six months is considered balanced. A supply larger than six months would be a buyer’s market.

The average sale price of a Saskatoon home came in at $399,965, about forty dollars where it was last month.

The benchmark price of a single-family home as recorded on the MLS® Home Price Index saw its largest decline this year as it fell lower for only the second time in 2024. It slipped by $5500 to $454,900 to remain up annually by seven percent.

Townhome prices showed no signs of letting up as the benchmark price reached its highest level for the year growing $3500 from the previous month reaching $340,900 for an increase of 11 percent on a year-over-year basis.

Apartments prices, which have been on quite a tear all year came down from the big peak we saw occur last month and fell $13,205 to settle back at $242,700. The benchmark price of a Saskatoon apartment is still higher than it was a year ago by 11%.

Follow me on Facebook and Instagram to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.

We’re always happy to answer your Saskatoon real estate questions. Click here to reach out.

TeamFisher, your Saskatoon real estate market specialist.

Royal LePage Saskatoon Real Estate


Read

Welcome to 310 25th Street West in Caswell Hill, Saskatoon

Welcome to 310 25th Street West in Caswell Hill, Saskatoon

See details here

 Situated in the heart of the historic Caswell Hill area, 310 25th Street West presents an attractive opportunity for first-time homeowners or savvy investors. This charming house has 1,432 square feet of living space, offering an ideal blend of character and modern updates. Upon entering the residence, you're greeted by a welcoming front living room, complete with large windows that bathe the space in natural light, complemented by rich hardwood floors. The spacious dining room with stylish laminate flooring provides the perfect setting for intimate dinners or family gatherings. The home comprises four well-sized bedrooms, one on the main level with hardwood floors and two additional bedrooms on the second floor, each exuding a cozy ambience. The main floor bathroom features a classic clawfoot tub, adding a touch of elegance to the property. The basement is mostly finished and has a family room, the fourth bedroom and the laundry/utility room. Upgrades have been thoughtfully applied throughout the house, with newer windows enhancing energy efficiency and comfort, a furnace that's only 5 years old, and a water heater installed just 4 years ago. The laminate and restored hardwood flooring intermingle to create a seamless flow from room to room. Outdoor living is equally inviting, with a fully fenced backyard and a large deck off the rear entrance, perfect for summer barbecues or simply soaking up the Saskatchewan sun. The convenience of parking off the laneway, with three spaces available, adds to the home's appeal. Within walking distance of downtown and the Saskatchewan Polytechnic, this property stands in a location steeped in history – once designated as a bomb shelter in the 1920s due to its sturdy lath and mortar structure. With the exciting prospect of future local developments, including a new community centre and entertainment arena, 310 25th Street West is not just a house, but a gateway to a vibrant community and a wise investment for the future.

 

Read

Canadian Home Sales See Surprise Jump in October 2024: CREA

The Canadian Real Estate Association (CREA) recently released national sales statistics for October 2024.

Home sales activity recorded over Canadian MLS® Systems increased 7.7% month-over-month in October 2024, reaching its highest level since April 2022.

“The jump in home sales last month was an October surprise, although with the big interest rate cut of 50 basis points announced during the last week of the month, the increase was more likely related to the surge in new listings we saw in September,” said Shaun Cathcart, CREA’s Senior Economist. “There probably won’t be another rush of new supply like that until next spring, and at that point, mortgage rates should also be close to their expected lows. With that in mind, you can think of the October numbers as a preview for what we might expect next year.”

Highlights:

• National home sales jumped 7.7% month-over-month in October.

•  Actual (not seasonally adjusted) monthly activity came in 30% above October 2023.

•  The number of newly listed properties were down 3.5% month-over-month.

•  The MLS® Home Price Index (HPI) edged down 0.1% month-over-month and was down 2.7% on a year-over-year basis.

•  The actual (not seasonally adjusted) national average sale price was up 6% on a year-over-year basis in October.

Read the recently released national sales statistics for October of 2024.

UPDATE - CREA’s Residential Market Forecast for 2025.

I’m always happy to answer your Saskatoon real estate questions.  Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Saskatoon Real Estate


Read

Record-breaking sales continue through October 2024: SRA

Saskatoon home sales remained strong through October, growing by 12 units when compared to numbers generated in September. Local REALTORS® closed 444 sales, another record number for the month, beating last October by 15 sales. That’s close to 30 percent higher than the ten-year average.

Year-to-date, sales are up about seven percent over last year.

The number of Saskatoon homes listed for sale continued to tumble lower falling from 654 in September to just 517 in October.

As buyers remained vigilant watching for opportunities, homes moved quickly and inventory continued to trend lower falling by 115 units through the month to close October with just 803 residential properties for sale on the MLS®.

Months of supply fell sharply from 2.1 in September, to just 1.8 by the time business closed on the final day of October as a strong seller’s market continued.

Again, supply levels of less than four months signal a seller’s market. A supply of four to six months is considered balanced. A supply larger than six months would be a buyer’s market.

Still, the average sale price of a Saskatoon home took a modest dip slipping from $409,474 last month to $400,032 to finish the month higher annually by four percent.

The benchmark price of a single-family home as recorded on the MLS® Home Price Index also fell lower as it slid $5500 to $460,400. That’s still higher than it was a year ago by seven percent.

Townhomes continued on an upward trend with the benchmark price reaching $340,900, up $3500 from the previous month and higher than it was at this time last year by ten percent

Apartments prices continued to outperform the market by leaps and bounds as the benchmark price reached $255,905 for a monthly gain of close to 12K and an annual increase of a whopping 13 percent.

Follow me on Facebook and Instagram to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.

We’re always happy to answer your Saskatoon real estate questions. Click here to reach out.

TeamFisher, your Saskatoon real estate market specialist.

Royal LePage Saskatoon Real Estate


Read

Canadian Home Sales Edge Up Again in September Following Third Interest Rate Cut: CREA

The Canadian Real Estate Association (CREA) recently released national sales statistics for September 2024.

Following the Bank of Canada’s third interest rate cut of the year, national home sales increased slightly in September compared to August. This follows a similar pattern of gains recorded in the months following the first two rate cuts.

“Sales gains are now three for three in the months following interest rate cuts, which is a trend even though the increases weren’t headline-grabbing,” said Shaun Cathcart, CREA’s Senior Economist. “That said, with the pace of rate cuts now expected to be much faster than previously thought, it’s possible some buyers may choose to hold off on a purchase for now. This could further boost the rebound expected in 2025 at the expense of the last few months of this year.”

Highlights:

• National home sales rose 1.9% month-over-month in September.

• Actual (not seasonally adjusted) monthly activity came in 6.9% above September 2023.

• The number of newly listed properties jumped 4.9% month-over-month.

• The MLS® Home Price Index (HPI) inched up 0.1 % month-over-month but was still down 3.3% on a year-over-year basis.

• The actual (not seasonally adjusted) national average sale price was up 2.1% on a year-over-year basis in September.

Read the recently released national sales statistics for September of 2024.

UPDATE - CREA’s Residential Market Forecast for 2025.

I’m always happy to answer your Saskatoon real estate questions.  Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Saskatoon Real Estate


Read

Welcome to 826 Budz Crescent in Arbor Creek, Saskatoon, SK

Welcome to 826 Budz Crescent in Arbor Creek, Saskatoon, SK

See details here

Introducing a superb opportunity at 826 Budz Crescent, nestled in the heart of Arbor Creek, an area renowned for its community vibe and family-friendly amenities. This impressive property presents an ideal offering for families, savvy investors or those seeking the potential for rental income. This fully developed 1,271 square foot bilevel home is a haven of space and comfort. A bright living room flows effortlessly into the dining area, while the skylight above the front entrance bathes the space in natural light. The kitchen overlooks the backyard, is a chef's delight with a corner pantry and all the essential appliances included. The master bedroom boasts a walk-in closet and an exclusive 3-piece ensuite. Two additional bedrooms and a four-piece main bathroom complete the family-centric layout of the first floor. The lower level reveals a self-contained one bedroom suite with a spacious living area, a three-piece bath, a nice sized kitchen with three appliances and its own laundry room equipped with a washer/dryer and offers a perfect setup for rental income or extended family living. This non-conforming suite has a separate air exchanger, electric baseboard heater and its own electrical meter. Also in the lower level is another bedroom and a utility room with a washer and dryer for the upstairs main living area. The double attached garage is insulated and has shelving, a workbench and ceiling storage. The property also benefits from a double driveway for additional parking convenience. Step outside to the deck and patio area and the large fully fenced backyard, complete with an underground sprinkler system. Located in a prime spot, the house is within easy reach of Father Robinson and Dr. John J. Egnatoff elementary schools, numerous parks, and has seamless access to nearby shopping, restaurants and surrounding neighbourhoods. This residence is a true gem in Saskatoon's real estate market and is poised to be the perfect place to call home.

 

Read

Limited supply options continue to prevent even stronger sales in September 2024: SRA

Saskatoon home sales fell lower monthly dropping to 432 units, compared to 457 the month before. Still, that was enough to top sales numbers generated in September 2023 by almost 60 units. It was the strongest September in the past six years. Year-to-date, residential sales are higher by six percent from last year and up a staggering 19 percent when compared to the ten-year average.

Meanwhile, sales in the single-family homes category grew by four from last month to 262 for an annual increase of 42 while the number of condos to sell slipped lower from 163 last month to 150, claiming an increase annually of 20 units.

After two months of gains, the number of Saskatoon homes listed for sale slipped to 654, a drop of 63 from last month but higher than the same month last year by 79 units.

The increase in sales over last year quickly swallowed up the inventory preventing it from growing much at all, as often happens at this time of the year. We closed September with 918 active listings, up just four from August and lower annually by 58.

Months of supply grew from 2.0 last month to 2.1 in September, which while improved is still very firmly in seller’s market territory. Again, supply levels of less than four months signal a seller’s market. A supply of four to six months is considered balanced. A supply larger than six months would be a buyer’s market.

On the heels of a hefty dip in August, the average sale price of a Saskatoon home rebounded from $389,684 last month to $409,474, well up from $373,298 average recorded for the same month last year.

The benchmark price of a single-family home as recorded on the MLS® Home Price Index slipped lower for the second consecutive month as it fell $4500 from the previous month to $458,900. That’s higher than it was a year earlier by 29K.

Townhomes took a dip to $332,800. That’s lower than last month by $1700 but higher annually by twenty thousand dollars, and I believe at a record high.

Apartment prices continued to cook growing by $1200 from the previous month to reach a new record high of $244,100. That’s higher than last year by $23,000.

Follow me on Facebook and Instagram to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.

We’re always happy to answer your Saskatoon real estate questions. Click here to reach out.

TeamFisher, your Saskatoon real estate market specialist.

Royal LePage Saskatoon Real Estate


Read

Welcome to #403 - 303 5th Avenue N in the Central Business District, Saskatoon, SK

Welcome to #403 - 303 5th Avenue N in the Central Business District, Saskatoon, SK

 See details here

Nestled in the pulsating heart of Saskatoon, this meticulously renovated 1,132 sqft condo at #403 - 303 5th Avenue North offers a perfect blend of city charm and serene living for discerning buyers like couples, busy professionals or savvy investors. Upon entering this two-bedroom, two-bathroom residence on the fourth floor of The Waterford complex, you are greeted by a symphony of modern design and comfort. Laminate flooring ushers you through the generous living spaces while the bedrooms provide a tranquil retreat with the same laminate flooring throughout. The primary bedroom is an enclave of luxury with a 3-piece ensuite bathroom and a spacious walk-in closet. Both bathrooms have tile flooring, ensuring a clean and contemporary ambiance. The open concept kitchen is a culinary dream with dark cabinetry, marble backsplash, quartz countertops, and stainless steel appliances, including a microwave, built in oven, refrigerator, and touch enabled glass cooktop. Your living room extends to a covered patio offering enchanting city skyline vistas—a perfect spot for unwinding. Additionally, the convenience of in-suite laundry, complete with extra storage and tile flooring, adds a practical touch. The underground parking stall has a dedicated 220V EV charging station, and the building has amenities such as a social room complete with a pool table, a shuffleboard table, exercise equipment, and a kitchen enhances the community feel. A dedicated hobby room adds to the allure. Located close to restaurants, shopping, entertainment, and the tranquil Meewasin Valley Trail system, this condo also offers a swift commute to the University of Saskatchewan. Despite its central location, the no-pet policy ensures peace and quietude within this urban sanctuary, elevated further by the convenience of an elevator. Make this stunning apartment at The Waterford your new address for a life of ease and refinement amidst the urban tapestry of Saskatoon.

 

Read

Canadian Housing Remains in a Holding Pattern in August of 2024: CREA

The Canadian Real Estate Association (CREA) recently released national sales statistics for August 2024.

National home sales increased in June following the Bank of Canada’s first interest rate cut since 2020, and activity posted another small gain in August on the heels of the second rate cut in late July, but the bigger picture appears to be a market mostly stuck in a holding pattern.

“Despite some fledgling signs of life to kick off the long-awaited monetary policy easing cycle, Canadian housing market activity still looks to be stuck in the same holding pattern it’s been in all year,” said Shaun Cathcart, CREA’sSenior Economist. “That said, with ever more friendly interest rates now all but guaranteed later this year and into 2025, it makes sense that prospective buyers might continue to hold off for improved affordability, especially since prices are still well-behaved in most of the country.”

Highlights of this report:

•              National home sales edged up 1.3% month-over-month in August.

•              Actual (not seasonally adjusted) monthly activity came in 2.1% below August 2023.

•              The number of newly listed properties ticked up 1.1% month-over-month.

•              The MLS® Home Price Index (HPI) was unchanged month-over-month but was down 3.9% year-over-year.

•              The actual (not seasonally adjusted) national average sale price was almost unchanged (+0.1%) on a year-over-year basis in August.

Read the recently released national sales statistics for August of 2024.

LAST UPDATED IN JUNE - Read also: CREA’s Residential Market Forecast.

I’m always happy to answer your Saskatoon real estate questions.  Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Saskatoon Real Estate


Read

Saskatoon home sales show seasonal declines and inventory grows in August 2024: SRA

Saskatoon home sales took a downward dip in August falling by 63 units when compared to July’s impressive numbers. When the dust settled at the close of the month, 457 residential properties had changed hands, down a substantial 13 percent from the same month last year. Home sales for the local area remain higher on an annual basis by five percent.

Sales in the single-family homes category fell from 309 last August to 258 while the number of condos to sell slipped lower from 189 last year to 163.

For the second consecutive month, the number of new listings added to the MLS® grew, which is somewhat unusual at this time of the year. Saskatoon real estate agents added 719 residential properties to the database, up just a touch from 711 in July, and higher by 61 when compared to the new listings numbers from August of last year.

Softening sales and stronger new listings allowed the inventory of active listings on the multiple listing service® to grow to its highest point since September of last year. As the month drew to a close, there were 914 Saskatoon homes for sale, up 80 units from July, but lower than it was last year at this time when there were 1000 options for local buyers.

Months of supply grew from 1.6 last month to 2.0 In August, which while improved is still very firmly in seller’s market territory. Again, supply levels of less than four months signal a seller’s market. A supply of four to six months is considered balanced. A supply larger than six months would be a buyer’s market.

After reaching a new record high in July which led to a swift upward spike on our graph, the average sale price of a Saskatoon home headed lower and reported its lowest number since early this year at $389,684. This particular measure can tend to be a bit all over the place. Over time, it can trend one way or the other, but the sale of a handful of luxury homes can skew it higher, just as an absence can skew it lower.

The benchmark price of a single-family home as recorded on the MLS® Home Price Index saw a softer downward shift as it came down $3300 from last month to settle at $463,400 to take a ten percent annual increase.

Townhomes continued to move higher reaching $334,500 for a monthly increase of $2000 and an annual gain of ten percent.

Once again, apartment prices grew the most picking up $6100 from last month to reach $242,900 and claim an annual increase of 14 percent.

Follow me on Facebook and Instagram to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.

We’re always happy to answer your Saskatoon real estate questions. Click here to reach out.

TeamFisher, your Saskatoon real estate market specialist.

Royal LePage Saskatoon Real Estate


Read

Fledgling Canadian Housing Market Momentum Hits Pause in July of 2024: CREA

The Canadian Real Estate Association (CREA) recently released national sales statistics for July 2024.

While there were early signs of renewed momentum in June following the Bank of Canada’s first interest rate cut since 2020, activity in Canada’s housing market took a pause in July.

 “With another rate cut announced on July 24, we’ve now seen two rate cuts in a row, and the expected pace of future policy easing has steepened considerably, with markets now anticipating rate cuts at every remaining Bank of Canada decision this year,” said Shaun Cathcart, CREA’s Senior Economist. “Combine that with a record amount of demand waiting in the wings, and the forecast for a rekindling of Canadian housing activity going into 2025 has just gone from a layup to a slam dunk.”

Highlights of this report:

•              National home sales edged back 0.7% month-over-month in July.

•              Actual (not seasonally adjusted) monthly activity came in 4.8% above July 2023.

•              The number of newly listed properties ticked up 0.9% month-over-month.

•              The MLS® Home Price Index (HPI) edged up 0.2% month-over-month but was down 3.9% year-over-year.

•              The actual (not seasonally adjusted) national average sale price was almost unchanged (-0.2%) on a year-over-year basis in July.

Read the recently released national sales statistics for July of 2024.

UPDATED IN JUNE - Read also: CREA’s Residential Market Forecast.

I’m always happy to answer your Saskatoon real estate questions.  Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com

Norm Fisher

Royal LePage Saskatoon Real Estate


Read

Saskatoon home prices continue to move higher in the face of low inventory in July 2024: SRA

On the heels of a rare month that failed to produce annual gains,  the Saskatoon real estate market regained whatever momentum had been lost as we moved through July. Saskatoon REALTORS® reported 520 homes sold to the multiple listing service®, down 20 units from June, to beat last July’s numbers by almost five percent. As the month closed, sales were up 8.4 percent annually.

The single-family homes category slipped from 309 sales in June to 298 in July. That’s higher by 11 units compared to sales for the same month in 2023. Condo sales fell lower from 203 to 189 monthly, growing by 12 over last July’s numbers.

After a soft showing in June, new listing activity grew in July, which is a bit unusual but we’ll take it!

706 residential listings were added to the MLS®, an increase of 38 from June, and matching numbers produced last July.

Active listing inventory remained stable and at the end of the month, buyers had 834 listed properties from which to choose, 28 percent fewer options than could be found a year ago.

Months of supply grew modestly from 1.5 last month to 1.6 as July closed. Again, supply levels of less than four months signal a seller’s market.

Once again, the average price of a Saskatoon home pushed to a new high this month reaching $411,400, an increase of nearly 10K compared to June, and up ten percent annually.

The benchmark price of a single-family home in Saskatoon grew by about $3500 from last month to hit $466,700 to establish a new all-time high, up eight percent from a year earlier.

Townhouse prices picked up nearly $7k from last month to close July at $332,500 and claim an annual increase of 11 percent.

Apartment prices remained stable from last month at $237,800 and also grew annually by 11 percent.

Follow me on Facebook and Instagram to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.

We’re always happy to answer your Saskatoon real estate questions. Click here to reach out.

TeamFisher, your Saskatoon real estate market specialists.

Royal LePage Saskatoon Real Estate


Read
The Saskatchewan REALTORS® Association (SRA) IDX Reciprocity listings are displayed in accordance with SRA's MLS® Data Access Agreement and are copyright of the Saskatchewan REALTORS® Association (SRA).
The above information is from sources deemed reliable but should not be relied upon without independent verification. The information presented here is for general interest only, no guarantees apply.
Trademarks are owned and controlled by the Canadian Real Estate Association (CREA). Used under license.
MLS® System data of the Saskatchewan REALTORS® Association (SRA) displayed on this site is refreshed every 2 hours.