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Currently in Saskatoon's Real Estate Market there are 1644 active listing, and an additional 981 in the surrounding areas of the city. In January, solds & listings were both UP 6% year over year vs. 2016 in Saskatoon. Sales were up 15% year to date (with listings down 8%) in the surround areas (most notably Martensville, Warman, Osler, acreages..etc). Of the 1644 listings in Saskatoon: 42% are condos and 44%+ are vacant (166 of those vacancies are newer builds (2013+). 

 

Traditionally, many people hold their breath during an American election year, as the results usually influence our economy. It seems that the recent result has had a positive influence on our resource driven economy YTD, most notably with Oil being up roughly $8 a barrel since Trump won. If trade relations remain strong with the US (how about that Trudeau Handshake!), I would assume that there will be continued demand on our resources from south of the border. Continued resource demand = more disposible income + more potential population gains = more housing demand.

 

Having recently spoken with one of the larger builders in the city, I was informed that they had their strongest January in a few years. They noted that many of the buyers who were waiting on prices to continue to cool, seemed to have had a change in sentiment on the economy and decided it was time to act! These are all positive things and it seems the real estate cycle may be working to get out of the stagnation we have seen over the last few years.

 

Another postive was released last week from STATSCAN, indicating that the 5 fasting growing cities in Canada from 2011-2016 were all in the prairies, with Saskatoon (+12.5%) and Regina being 3 & 4 respectively. These numbers help support that population growth has been a key to keeping our housing prices level, with lower oil prices over the last couple of years.

 

At the end of the day, housing is a commodity (I always argue it actually a necessity in our climate) which fluctuates due to many different variables. A key variable is the bank of canada's over night rate (we usually (always do..) peg ours with the federal reserves (USA)). I believe it will be important for us to keep a close eye on the over night rate in the next 12 months as that will give us a good idea of where housing prices are headed in the prairies.

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HOW DID YOUR NEIGHBORHOOD HOLD UP OVER THE LAST YEAR?

 

Presented by Brodie Zuk (Realty Executives Saskatoon) of www.SaskatchewanLiving.com


 

I ran into an amazing article on the cbc.ca website today ranking Saskatoon as the Healthiest City in Canada (among 10 other cities selected). It always feels good to be a part of such an amazing community.

 

 

I always love the end of the year because it allows us time to look back on where we came from, and to plan ahead for the future! In this email I wanted to give a visual summary of Saskatoon's housing market broken down into the single family home segment of Saskatoon's individual neighbourhoods. Why? Well, anything you read in the newspaper is a generalization of a segmented and very subjective market, and can potentially be very misleading.

 

When people ask me:" How's the market?", I usually ask them how much time they have, as "the Market" is very complex and diverse.

 

 

Over the last year, Saskatoon has had a slight decrease (-1.18%) in the average value of a home (This figure is up 6.70% over the last 5 years). Our market is very stagnate at the moment. My opinion on this is: "GOOD". With our economy being stagnate, it is good to see housing mirroring this. WHY? This means there is not artificially pent up demand going on. Separate from Vancouver or Toronto's housing market, housing in the conservative land of Saskatchewan seems to be traded as more of a necessity, as opposed to a speculative investment. We are less volatile because of this, we are safe, hell... we are HAPPY and HEALTHY too (see article above).


So..


How did your Neighbourhood hold up over the last 365 days? Take a look a the visuals below.


(*Note – I believe strongly in the Econometrics and the reasoning behind the methodology of the HPI Index. Because the index only compares data from exact resales, newer neighourhoods are omitted until there is sufficient data to present).

 

AREA 1 – Housing Price Index last 12 months – Single Family Home

 Saskatoon Housing Market 2016

AREA 2 - Housing Price Index last 12 months – Single Family Home

 Saskatoon Housing Market

  

AREA 3 - Housing Price Index last 12 months – Single Family Home

 

Saskatoon Housing Market 2016

 

AREA 4 - Housing Price Index last 12 months – Single Family Home

Saskatoon Housing Market 2016

 

AREA 5 - Housing Price Index last 12 months – Single Family Home

Saskatoon Housing Market 2016

 

As you can see, the market truly is very diverse! Remember this is only for single family homes, as condo data is newer (Condos became more popular in the early 80s in Saskatchewan) and is less reliant for resale data (at the moment).

 

Hope you have found this information of VALUE and if you ever have any more Real Estate related questions, please let me know. HAVE A GREAT CHRISTMAS!

 

If you or anyone you know has any questions regarding this information please call or email! I would be happy to give the HIGHEST LEVEL of Professional service if you or someone you know is buying or selling their house! I love referrals!

I am always available to answer any questions or concerns regarding Real Estate in Saskatchewan! Remember I do Farm and Commercial real estate too!

Like me on facebook, I try and always keep my audience involved or stay up to date on my website at www.SaskatchewanLiving.com .


"Christmas is the spirit of giving without a thought of getting. It is happiness because we see joy in people. It is forgetting self and finding time for others. It is discarding the meaningless and stressing the true values."


-Thomas S. Monson

 

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 I hope you are well, and are enjoying this very moderate weather as we approach another holiday season (the season of giving).

 

 ​DID YOU KNOW THAT: Saskatoon Residents Donate on average $410 dollars per person a year! That's $130 more than the Canadian average, and $30 more than Saskatchewan's Average! Way to go SSKTN!

 

Brodie’s Real Estate Report (October 2015)


This month, I wanted to focus on housing price inflation within different areas of the city of Saskatoon (Using the MLS Housing Price Index)! The question I wanted to answer was this: Were certain neighborhoods within their respective areas, appreciating more than others over the last 7 years?

 

AREA 1 : Arbor Creek vs. East College Park vs. Lakeview vs. Willowgrove

WINNER: East College Park

 

 

AREA 2: Brevoort Park vs. Eastview vs. Haultain vs. Varsity View

WINNER: HAULTAIN

  

Area 3: City Park vs. Richmond Heights vs. Silverwood Heights

WINNER: CITY PARK


 

AREA 4: Caswell Hill vs. Holiday Parl vs. Riversdale

WINNER: Riversdale

 

AREA 5: Confederation Park vs. Montgomery Place vs. Parkridge

WINNER: CONFEDERATION PARK

 

 

I have some very EXCITING market analyse below. Questions I will answer: What are current housing inventories and months of supply? How were sales in October 2105 vs. previous years?

 

Read along for all these answers.... it's pretty good stuff!

 

 

There were a total of 294 sales in Saskatoon last month, which was 25% lower than last October. 213 of those sales were single family homes and 83 of those were condominiums. Currently, there are 1238 single family homes and 711 condos on the Saskatoon real estate market for Sale. Listings are up about 8% vs. last year.

  

 

The below graph shows the number of sales in Saskatoon (Areas 1-5 represent within city limits). Historically, federal elections months tend to have below average sales. October 2015 supported that trend, as 91 fewer homes sold in October 2015 vs. October 2014. 

 


   

Which price ranges have the highest months of supply?? Typically anything between 4-8 months of supply is considered a balanced market. Anything lower is a seller's market; higher, a buyers market.

 

    

Sales to Listing Ratio

(<40% = buyers market, 40-60% = balanced market, >60% = sellers market)

Sales to listing Ratio for Areas 1-5 for October 2015 = 38%

38% of homes listed on the MLS in October actually SOLD.

Sales to Listing Ratio for Areas 6-9 for October 2015 = 41%
 

If you or anyone you know has any questions regarding this information please call or email! I would be happy to give the HIGHEST LEVEL of Professional service if you or someone you know is buying or selling their house! I love referrals!

 

I am always available to answer any questions or concerns regarding Real Estate in Saskatchewan! Remember I do Farm and Commercial real estate too!

 

Like me on facebook, I try and always keep my audience involved or stay up to date on my website at www.saskatchewanliving.com .

 

"Freedom is never given, it is won."

- A. Philip Randolph


 

 

Brodie Zuk,  REALTOR®
Realty Executives Saskatoon
c. 306.361.5393
o. 306.373.7520
f. 306.955.6235
e. brodiezuk@realtyexecutives.com
 
* Statistics from: www.saskatooncommunityfoundation.ca 
* Data from MLS Housing Price Index (For further information please review econometric process at http://homepriceindex.ca/hpi_home_en.html
 
P.S. 
 
This information was taken from my monthly email out to my customers and clients. If you would like to be added to this list, please let me know.
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What home buyers love to see

 

Buyers are more likely to make an offer on your home if they see a lot of things they love about it. So what do buyers love to see?

 

One of the main things they like to see is a lot of space. Of course, you can't change the size of your rooms, but there is a lot you can do to make small spaces in your home seem more spacious.

 

Buyers also love to see a clean and uncluttered home. Think of how inviting a hotel room looks at first glance, with everything neat and organized. Of course, your home isn't a hotel, but the more neat and attractive you can make each room, the better.

 

One thing buyers don't love to see is potential maintenance issues. So as much as possible, get things fixed or updated.

 

In fact, the more "finished" and "move in ready" your home looks, the more likely a buyer is to make an offer.

 

Don't forget the surrounding neighbourhood either. A buyer may not take the time to explore the area, so be sure to make a list of the most appealing features. You might want to take a picture of the brand new playground just down the street or print off a local map showing nearby shopping, theatre and other points of interest.

 

It's not about creating a false impression. Rather, it's about making your home look its best and drawing attention to its most enticing features.

 

Want more home selling tips? Call Brodie today!

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You have smoke detectors. Your doors have good locks. The bathtub has a slip-free pad. By all accounts, your home is a safe and secure place for your family to live.

 

However, there are some hazards that many homeowners don't consider or even know about. For instance:

 

  1. Blocked eavestroughs. Eavestroughs clogged with leaves and other debris can cause rainwater to overflow next to your foundation and create a basement leak.

 

  1. Clogged dryer vents. High temperature air combined with lint is a near ideal condition for a fire. Check and clear the dryer vent at least once a year.

 

  1. Dirty faucet heads. Kitchen and bath faucets often have built-in screens to spray the water evenly. Unfortunately, dirt and other contaminates can build up on these and, possibly, affect the quality of the water. Clean faucet heads regularly.

 

  1. Tripping hazards. You could step around a loose section of carpet for years and then one day, in a moment of distraction, trip over it and fall. When you see a potential tripping hazard in your home, don't ignore it. Fix it.

 

Being diligent about home safety takes a little more time. But, if it prevents one injury or illness, it's worth the effort. 

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