Merrill Lynch real estate analysts have some Saskatoon home owners pretty upset these days. Their statement that the Saskatoon real estate market is overpriced by 50% is amazing. Where these guys get their formulas is beyond me. If this statement were valid it would mean that houses in Saskatoon were overpriced prior to the move up in 2007. Other reports prior to 2007 stated that Saskatoon’s..(read more)
The Saskatoon market is moving through the opposite stages compared to last year in the spring. We are moving from the sellers market of last spring to a balanced market - to a buyers market today. Why am I saying this? The number of active listings on the market in July 08 compared to July 07 is up 249% in the city, and 224% in the surrounding areas. We now have 2892 listings on the market..(read more)
I was reading the paper this morning and came across a letter to the editor that had some interesting comments regarding Saskatoon’s real estate market. The writer stated that it is not a good time to purchase real estate in Saskatoon. He states that the market is dropping and will continue to drop up to 20%.
It always amazes me that when people who are not professionals make statements..(read more)
The Canadian Dollar has been trending up with higher oil prices. This makes real estate and other Canadian commodities, relatively more expensive to buyers outside the country. Local and provincial economic activity is still strong, with a positive relationship between the Loonie and the export commodities we produce. However, it is the new people and capital that we attract ..(read more)
Drastic changes are taking place in the Saskatoon market place. YTD unit sales for single family dwellings are down by 35% compared to last year. Dollar sales volume is down 18%. This reflects the higher prices this year. The highest sales volume category is $250,000. to $400,000., again reflecting the higher prices in our market place.
Inventories are up by as much as 80% in..(read more)
Saskatchewan home sales will benefit from an influx of people moving to the province. Saskatoon is a hub for business activity that has been attracting people from all over North America and the world. According to Canadian Real Estate Association (CREA) President Cal Lindberg, the Canadian resale housing market is on a distinctly different path than the market in the United States. ..(read more)
The market in Saskatoon is going through a change once again. The stats YTD show that we are experiencing a drop of up to 20% in the number of units sold. I don?t think this is alarming, considering the huge gains we experienced in 2007. In some areas, prices are up as much as 60% over a year ago, and a good house under $100,000 is a hard find in the Saskatoon market. This applies to houses..(read more)
As I talk with buyers and sellers everyday, inevitably people ask me "Mike, how long is this market going to last?" Sales of existing homes fell 6.8 per cent to 117,051 units in the first quarter of 2008 compared with the previous quarter, the Canadian Real Estate Association (CREA) said last week. The figures were the third consecutive quarterly decline since activity peaked in the second..(read more)
Saskatoon real estate has not cooled off like most Canadian cities. We have seen prices level off especially in the $500,000 and up range. While the market is good all across the price curve, I would caution sellers not to have too high expectations if you are putting your house on the market. Inventories are rising, as normal for this time of the year. There is sufficient..(read more)
How long will this trend continue? There are varied opinions on this. I believe that we are flattening off in the higher price ranges. That is East side $400,000. plus, and West side $300,000. and up. I have noticed that on the specific time offers presented listings (that means when a property is listed on Monday, with all offers present at 3 PM on Friday, as an example)there are some listings..(read more)
