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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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