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Canadian Home Sales Showing Signs of Recovery in January 2024: CREA

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

Following a weak second half of 2023, home sales over the last two months are showing signs of recovery, according to the latest data from the Canadian Real Estate Association (CREA).

“Sales are up, market conditions have tightened quite a bit, and there has been anecdotal evidence of renewed competition among buyers; however, in areas where sales have shot up most over the last two months, prices are still trending lower. Taken together, these trends suggest a market that is starting to turn a corner but is still working through the weakness of the last two years,” said Shaun Cathcart, CREA’s Senior Economist.

“The market has been showing some early signs of life over the last couple of months, probably no surprise given how much pent-up demand is out there,” said Larry Cerqua, Chair of CREA. “There’s a consensus that the market will probably look quite a bit different this year compared to 2022 and 2023, so if you’re hoping to buy or sell a property in 2024, contact a REALTOR® in your area and get your game plan ready today,” continued Cerqua.

Highlights of this report:

  • National home sales were up 3.7% month-over-month in January

  • Actual (not seasonally adjusted) monthly activity came in 22% above January 2023.

  • The number of newly listed properties edged up 1.5% month-over-month.

  • The MLS® Home Price Index (HPI) fell by 1.2% month-over-month but was still up 0.4% year-over-year.

  • The actual (not seasonally adjusted) national average sale price posted a 7.6% year-over-year increase in January.

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

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.

TeamFisher.com hosted over 520,000 user sessions last year and displayed more than three million pages to our visitors. If you have a Saskatoon area home you'd like to sell, we know how to get people looking at your home. Reach out to me directly to engage our team and learn about our processes.

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


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Welcome to 522 Hall Crescent in Westview, Saskatoon, SK
 


Welcome to 522 Hall Crescent in Westview, Saskatoon, SK

 
 
Welcome to 522 Hall Crescent in the Westview area. This great 1,040sqft four level split backs Senator John Hnatyshyn Park features four bedrooms and three bathrooms and is close to numerous elementary schools. From this location, you’re a quick drive to the Circle Drive freeway, where you can get to most parts of the city within minutes, and you’re also close to all of the amenities in both Hampton Village and Confederation Park areas, including restaurants, shopping, banking and much more. Developed on all levels, this home has three good sized bedrooms on the upper level, the primary bedroom has a three piece ensuite. The kitchen has plenty of cabinetry, stainless steel appliances, a pantry closet, and is open to the bright dining room which has Newer patio doors to the large deck and fully fenced back yard. The front living room has an abundance of sunlight pouring in from the bay windows. There is laminate flooring throughout the majority of the home. The third level has another bedroom, two dens, and a three piece bathroom. The family room on the fourth level provides the perfect spot for movie nights, game nights and family time. There is also storage and the laundry facilities on this floor. This home has new windows, Exterior Doors, furnace, hot water and AC all done within the last 3 years and also has a pad poured for a future garage with rear lane entry. The mature backyard provides plenty of greenspace and a gardening area. Come see this Westview gem soon, it’s not going to last!
 
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Canadian Home Sales See Unexpected Surge to Close Out 2023: CREA

The Canadian Real Estate Association (CREA) recently released national sales statistics for December of 2023.

Home sales activity recorded over Canadian MLS® Systems rose 8.7% between November and December 2023, putting it on par with some of last year’s relatively stronger months recorded over the spring and summer.

“While December did offer up a bit of a surprise in sales numbers to cap the year, the real test of the market’s resilience will be in the spring,” said Larry Cerqua, Chair of CREA. “There are only a couple of months left until that gets underway. If you’re looking to buy or sell a property in 2024, you’ll want a game plan, so contact a REALTOR® in your area today,” continued Cerqua.

“Was the December bounce in home sales the start of the expected recovery in Canadian housing markets? Probably not just yet,” said Shaun Cathcart, CREA’s Senior Economist. "It was more likely just some of the sellers and buyers that were holding onto unrealistic pricing expectations last fall finally coming together to get deals done before the end of the year. We’re still forecasting a recovery in housing demand in 2024, but we’ll have to wait a few more months to get a sense of what that ultimately looks like.”

Highlights from this report:

  • National home sales jumped 8.7% month-over-month in December.

  • Actual (not seasonally adjusted) monthly activity came in 3.7% above December 2022.

  • The number of newly listed properties dropped 5.1% month-over-month.

  • The MLS® Home Price Index (HPI) fell by 0.8% month-over-month but was still up 0.7% year-over-year.

  • The actual (not seasonally adjusted) national average sale price posted a 5.1% year-over-year increase in December.

Read the recently released national sales statistics for December of 2023.

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.

TeamFisher.com hosted over 520,000 user sessions last year and displayed more than three million pages to our visitors. If you have a Saskatoon area home you'd like to sell, we know how to get people looking at your home. Reach out to me directly to engage our team and learn about our processes.

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


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Saskatoon home prices hit record highs for December 2023 by every measure: SRA

Saskatoon home sales continued to cook through December as local REALTORS® reported 230 firm sales to the multiple listing service®. That’s down from 314 in November, but up by 28 units compared to December of 2022, despite continuing struggle of low inventory.

All of the gains would be counted in the condo category. Sales grew to 85 this December, up from 58 for the same month last year.

Sales for the year came in at 2790, down one percent from 2022.

The number of new listings to hit the Saskatoon market in December showed some modest gains as they grew by 17 annually to reach 248, barely replacing what was sold.

The number of options available to Saskatoon home buyers slipped to just 691 by the close of December. That’s down by 126 from last month’s close, and lower annually by 179. This is the smallest number of active listings for December in more than 15 years. As you can see by the graph below, active listings just continue to fall lower as each year passes, even as our population grows.

“Months of supply” improved from 2.6 to 3.0 but that will change quickly as sales begin to grow, as they always do after bottoming out in December.

A total of 4,256 Saskatoon homes were listed on the MLS in 2023, down 17 percent from the previous year.

With strong sales over the back half of 2023, and weak new listing activity it’s no surprise that Saskatoon home prices reached new highs for December by every measure.

The average price of a Saskatoon home took a hefty upward bounce from November as it grew by a little less than eight thousand dollars to $373,422 to record an annual increase of just under 2K.

The Benchmark price of a single-family home slipped by just over 6K from last month to settle at $420,300. That’s higher than it was last December by just over $26,000.

The Benchmark price of a Saskatoon townhouse dipped $2700 from the previous month to $311,300 to record a significant annual gain of $20,300.

The Benchmark price of a Saskatoon apartment fell $5,000 from last month setting at $223,400, still higher from December of last year by $5800.

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.

TeamFisher.com hosted over 520,000 user sessions last year and displayed more than three million pages to our visitors. If you have a Saskatoon area home you'd like to sell, we know how to get people looking at your home. Reach out to me directly to engage our team and learn about our processes.

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


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Six consecutive months of year-over-year sales gains for the Saskatoon real estate market, November 2023: SRA

Despite ongoing challenges related to low inventory and interest rates that remain at levels much higher than we’ve seen in years, the Saskatoon real estate market recorded its sixth consecutive month of year-over-year gains in November of 2023. A total of 314 residential properties changed hands, down from 382 in October, and up from 266 in November of 2022.

The gains were well distributed across the two major categories with 105 sales in the condo category, up from just 79 over the same month last year, and 190 single-family homes sales, up from 166 during the same month last year.

The number of new listings to hit the Saskatoon market in November fell lower from 518 in October to just 428 in November, which is ten units higher than November of last year.

Things continue to look pretty bleak in the inventory department.

After falling to their lowest levels since 2007 in October, options for Saskatoon home buyers just got worse in November. We finished the month with just 817 Saskatoon homes for sale, down from 899 at the close of October, and lower than last year by 159 units.

That left “months of supply” unchanged at 2.6.

Meanwhile, prices showed a little give in three of the four price measures we track, when compared to October numbers, while producing larger year-over-year gains.

The average price of a Saskatoon home slipped lower on a month-over-month basis by about 18K but was higher annually by $27,000.

The Benchmark price of a single-family home by $4300 from October to settle at $426,300. That’s higher than it was a year ago by $22,400.

The Benchmark price of a Saskatoon townhouse dipped $1800 from the previous month to $313,000 to record a significant annual gain of $23,900.

The Benchmark price of a Saskatoon apartment was the outlier as it continued to reach higher ground. It came in at $228,400 for the month, up five thousand from October, and up by $13,100 for the year.

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.

TeamFisher.com hosted over 520,000 user sessions last year and displayed more than three million pages to our visitors. If you have a Saskatoon area home you'd like to sell, we know how to get people looking at your home. Reach out to me directly to engage our team and learn about our processes.

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


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Welcome to #3103 - 106 Willis Crescent in Stonebridge, Saskatoon, SK


Welcome to #3103 - 106 Willis Crescent in Stonebridge, Saskatoon, SK

 See details here

 Welcome to #3103 - 106 Willis Crescent, a pristine, west facing, condo apartment in the heart of Stonebridge, where you’re steps away from all the amenities you could want and need, which include parks, schools, grocery shopping, medical, restaurants, banking and more. This two bedroom, two bathroom unit is in like new condition and offers an open and modern concept. The spacious kitchen has plenty of cabinetry, stainless steel appliances, and an island. The living room is roomy and bright and has access to a large balcony. There are dark laminate floors throughout the kitchen, living room, and hallway. The large primary bedroom has closets on either side of a walk-through that goes into a three piece ensuite. There is also a second bedroom, a four piece bathroom, and in-suite laundry/storage. There is elevator access and this unit comes with two parking spaces, one surface and one underground.

 

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Canadian Home Sellers Joining Buyers on the Sidelines in November 2023: CREA

The Canadian Real Estate Association (CREA) recently released national sales statistics for November of 2023.

Home sales recorded over Canadian MLS® Systems edged down by 0.9% from October to November 2023. It was the smallest decline since July.

"I wouldn’t expect anything too headline-grabbing from the resale housing market for the next few months," said Larry Cerqua, Chair of CREA. "That’s a good thing because a market that looks to be stabilizing in balanced territory increasingly suggests the soft-landing scenario. For information and guidance about buying or selling a property in this current market, or to get started on plans for the spring, contact a REALTOR® in your area," continued Cerqua.

"While it was clear from about August that a lot of buyers were probably going to head back to the sidelines until at least next spring, a surprising number of sellers nonetheless chose to try their luck this fall," said Shaun Cathcart, CREA’s Senior Economist. "Not getting offers they were willing to accept, it’s looking like many of them are also now resigned to hunker down until next year. It’s probably a good move given that recent expectations around interest rate cuts suggest it might be a somewhat more active spring market than we thought."

Highlights of this report:

  • National home sales edged back 0.9% month-over-month in November.

  • Actual (not seasonally adjusted) monthly activity came in 0.9% below November 2022.

  • The number of newly listed properties declined 1.8% month-over-month.

  • The MLS® Home Price Index (HPI) decreased 1.1% month-over-month but was still up 0.6% year-over-year.

  • The actual (not seasonally adjusted) national average sale price posted a 2% year-over-year increase in November.

  • Read the recently released national sales statistics for November of 2023.

Read also: CREA’s updated (October) Housing Market Forecast for 2023.

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.

TeamFisher.com hosted over 520,000 user sessions last year and displayed more than three million pages to our visitors. If you have a Saskatoon area home you'd like to sell, we know how to get people looking at your home. Reach out to me directly to engage our team and learn about our processes.

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


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Canadian Home Sales See Downward Trend Continue in October 2023: CREA

The Canadian Real Estate Association (CREA) recently released national sales statistics for October of 2023.

Home sales recorded over Canadian MLS® Systems posted a 5.6% decline between September and October 2023. The sizable decline was the result of fewer sales in most of Canada’s largest markets.

“We’re only in November, but it appears many would-be home buyers have already gone into hibernation,” said Larry Cerqua, Chair of CREA. “The October numbers also revealed some sellers may be shelving their plans until next spring. That said, there are still a lot of people active in the market and looking to get deals done this year. If you’re looking for information and guidance about buying or selling a property in the current market, contact a REALTOR® in your area,” continued Cerqua.

“We know housing demand is extremely high all across the country, but October’s resale data was further confirmation that it probably won’t be manifesting itself in the existing home market for the remainder of this year and likely not until spring 2024 at the earliest,” said Shaun Cathcart, CREA’s Senior Economist. “The rebound in activity this past spring was an example of what we might see next year. It will really come down to whether the Bank of Canada has to increase interest rates again, or whether by next March it’s simply a matter of how soon we’ll see the Bank make its first cut.”

Highlights from this report:

  • National home sales fell 5.6% month-over-month in October.

  • Actual (not seasonally adjusted) monthly activity came in 0.9% above October 2022.

  • The number of newly listed properties declined 2.3% month-over-month.

  • The MLS® Home Price Index (HPI) decreased by 0.8% month-over-month but was still up 1.1% year-over-year.

  • The actual (not seasonally adjusted) national average sale price posted a 1.8% year-over-year increase in October. 

Read the recently released national sales statistics for October of 2023.

Read also: CREA’s updated (October) Housing Market Forecast for 2023.

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.

TeamFisher.com hosted over 520,000 user sessions last year and displayed more than three million pages to our visitors. If you have a Saskatoon area home you'd like to sell, we know how to get people looking at your home. Reach out to me directly to engage our team and learn about our processes.

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


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Welcome to 303 5th Avenue West, in Kindersley, SK

Welcome to 303 5th Avenue West, in Kindersley, SK

See details here

 Welcome to 303 5th Avenue West, a stunning 1946 square foot home with 3800 square feet of living space in Kindersley, Saskatchewan! This five bedroom, three bathroom house has been renovated from top to bottom, complete with new heating and plumbing, including a reverse osmosis water system, a water softener, and an on demand hot water tank, you'll never run out of hot water again! There are all new windows on the main floor and second floor. The main floor provides an open concept living room and kitchen, two bedrooms, bathroom & main floor laundry. The kitchen has modern white cabinets, an island with built in sink, and all new stainless steel appliances, including a natural gas stove and hood range. The living room has soaring 13 foot ceilings, tall enough for that Griswold family Christmas Tree! Upstairs, on the second floor, you’ll find the primary suite. It is a lovely, large space with plenty of space for your king sized bed. There is a four piece ensuite bathroom to complete your peaceful sanctuary. This large house has two sets of stairs leading to the basement, one on either side of the house. There is rental suite potential, as the plumbing and wiring is set up in the basement for a kitchen. As is, the basement has three bedrooms plus an office/storage room. There is also a five piece bathroom that includes a double vanity and a separate room for the bathtub and toilet. Outside, the backyard is a blank canvas for next year’s gardening/yard season. This is one great house in a wonderful neighbourhood, close to an elementary school, and a host of other amenities. Come take a look today.

 

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Six consecutive months of year-over-year sales gains for the Saskatoon real estate market, November 2023: SRA

Despite ongoing challenges related to low inventory and interest rates that remain at levels much higher than we’ve seen in years, the Saskatoon real estate market recorded its sixth consecutive month of year-over-year gains in November of 2023. A total of 314 residential properties changed hands, down from 382 in October, and up from 266 in November of 2022.

The gains were well distributed across the two major categories with 105 sales in the condo category, up from just 79 over the same month last year, and 190 single-family homes sales, up from 166 during the same month last year.

The number of new listings to hit the Saskatoon market in November fell lower from 518 in October to just 428 in November, which is ten units higher than November of last year.

Things continue to look pretty bleak in the inventory department.

After falling to their lowest levels since 2007 in October, options for Saskatoon home buyers just got worse in November. We finished the month with just 817 Saskatoon homes for sale, down from 899 at the close of October, and lower than last year by 159 units.

That left “months of supply” unchanged at 2.6.

Meanwhile, prices showed a little give in three of the four price measures we track, when compared to October numbers, while producing larger year-over-year gains.

The average price of a Saskatoon home slipped lower on a month-over-month basis by about 18K but was higher annually by $27,000.

The Benchmark price of a single-family home by $4300 from October to settle at $426,300. That’s higher than it was a year ago by $22,400.

The Benchmark price of a Saskatoon townhouse dipped $1800 from the previous month to $313,000 to record a significant annual gain of $23,900.

The Benchmark price of a Saskatoon apartment was the outlier as it continued to reach higher ground. It came in at $228,400 for the month, up five thousand from October, and up by $13,100 for the year.

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.

TeamFisher.com hosted over 520,000 user sessions last year and displayed more than three million pages to our visitors. If you have a Saskatoon area home you'd like to sell, we know how to get people looking at your home. Reach out to me directly to engage our team and learn about our processes.

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


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Canadian Home Sales Ease Again in September 2023: CREA

The Canadian Real Estate Association (CREA) recently released national sales statistics for September of 2023.

Statistics1 released today by the Canadian Real Estate Association (CREA) show national home sales were down on a month- over-month basis in September 2023.

Home sales recorded over Canadian MLS® Systems posted a 1.9% decline between August and September 2023. While this marked the third straight month in a row of decrease, September’s drop was only about half as large as the one recorded in August. “With sales slowing and new listings returning to more normal levels, demand and supply are continuing to come into better balance, giving buyers more time and choice,” said Larry Cerqua, Chair of CREA. 

"Resale housing markets have settled down pretty quickly following this spring’s brief and somewhat surprising rebound in sales and prices,” said Shaun Cathcart, CREA’s Senior Economist. “With the inventory of homes for sale still historically low amid huge demand for housing in Canada, what happens next will depend on interest rates. Whether that means uncertainty about the possibility of further hikes, or just the cost of borrowing money right now, neither of these will be resolved for would-be buyers anytime soon. As such, expect a quieter-than-normal winter with all eyes on the Bank of Canada. We’ll see how buyers are feeling when the snow starts to melt.”

Highlights from this report:

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

  • Actual (not seasonally adjusted) monthly activity came in 1.9% above September 2022.

  • The number of newly listed properties jumped 6.3% month-over-month.

  • The MLS® Home Price Index (HPI) edged down 0.3% month-over-month but was up 1.1% year-over-year.

  • The actual (not seasonally adjusted) national average sale price posted a 2.5% year-over-year increase in September.

 Read the recently released national sales statistics for September of 2023.

Read also: CREA’s updated (October) Housing Market Forecast for 2023.

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.

TeamFisher.com hosted over 520,000 user sessions last year and displayed more than three million pages to our visitors. If you have a Saskatoon area home you'd like to sell, we know how to get people looking at your home. Reach out to me directly to engage our team and learn about our processes.

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 Vidorra


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Saskatoon home sales tumble in September 2023

On the heels of a “smokin’ hot August” for the Saskatoon real estate market, a few factors converged to usher the number of homes reported sold to the MLS® system lower from 528 in August to 374 units.

First off, September does tend to be a pivotal month most years. In spite of the fact that agents often promise that things will pick up in the fall when holidays are over, reality suggests that we are now on our downward curve, and as you can see on the graph below, September is pretty much always slower than August.

Add to this, the fact that there simply isn’t enough inventory to meet demand. As August closed, we had less than two months’ worth of inventory (a seller’s market begins when inventory supplies drop below four months) and you can appreciate how frustrating it is for buyers. More of them are likely to opt out as the demands of family routines, and cooler weather bring additional challenges.

Of course, historical perspective is important, so I should point out that sales for September were up by about 50 units from the same month last year, so that’s a 15 percent gain.

As is typical for the season, the number of new listings added to the multiple listing service fell lower. Local agents listed just 575 homes, down from 657 the month before, and lower annually by 15.

Active listing inventory continued to slip lower showing a modest monthly drop of 24 units to settle at 976. That’s considerably fewer listings than were available at this time last year when there were 1210 options on the MLS®. As you can see, this is the lowest level of inventory that we’ve seen in many years.

On a positive note, the softer demand did bring “months of inventory” higher to 2.6 months.

Meanwhile, the average sale price of a Saskatoon home declined for the fourth consecutive month as it fell from $373,397 in August to $371,755 in September. This measure is also lower on an annual basis by about $1500.

The benchmark values from the MLS® Home Price Index, are looking a bit more favourable for sellers.

Single-family home prices bounced back from last month’s losses recouping $5K to reach $429,800 and finished higher annually by $17,300.

Townhome prices grew by 3K from the month before to close September at $312,900. That’s their highest point in years, and up over $20,000 on a year-over-year basis.

Apartment prices remained stable for the third consecutive month at $221,200 for an annual gain of just under 5K.

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.

TeamFisher.com hosted over 520,000 user sessions last year and displayed more than three million pages to our visitors. If you have a Saskatoon area home you'd like to sell, we know how to get people looking at your home. Reach out to me directly to engage our team and learn about our processes.

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 Vidorra


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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.