Brodie's 2018 Saskatoon Real Estate Review

Happy New Year!

As we enter 2019, it is very important that we reflect on 2018 so that our decisions in the new year are as efficient as possible. I have attached a graphical analysis on the 2018 Saskatoon Real Estate Market for your viewing pleasure and I will briefly summarize my analysis and predictions below.

2018 vs 2017 (Year over year) looked like this:

-          # of homes sales was down -4.7%

-          Dollar Volume was down -8% (this is the total amount of Real Estate sold within the city)

-          New Listings were down -11.3%

-          The Sales to New Listings ratio was 42% (the highest in 4 years)

-          Total inventory was at a 6.5 months supply

-          The Average sale price was down -3.4%

-          The sale to List Price Ratio was 96.3%

-          The Average Days on market for the homes that did sell, was 55.4 days.

Written summary

With the tightening of lending rules and increasing interest rates, we have seen fewer transactions this year vs. last. Less people are being qualified for mortgages due to the rule changes. These potential buyers will be forced to continue to rent until the economy picks up in the prairies.

A decrease in dollar volume reflects less sales and a lower average sale price. The tightening of lending rules and increasing interest rates have put a lot of down ward pressure on home sales in the $450,000+ as less people can afford those homes.

With buyers market conditions, less sellers may elect to sell as they face a potential loss (depending on when they bought). The number of building permits issued to builders this year vs. last in also down about half in the city of Saskatoon. This indicates some home builders have decided to hold off from building until market conditions improve.

Due to a lower supply of listings, the sales to new listings ratio was the highest it had been in 4 years (7,956 new listings/ 3,329 sales).

Months of inventory is a very subjective stat. What it signifies is that if no new listings come for sale, the length of time it would take to clear out the current supply. A figure over 6 months represent a buyers market. (We did see a sellers market during some month in 2018 in the 200-400k price range).

Over supply and lending tightening put downward pressure on prices in 2018. The Average sale price was down -3.4%.

The sale to list price ratio of 96.3% is the lowest it has been in the last 10+ years. Those who must sell are taking offers lower than they would take if market conditions were different.

The average days of market for a home that sold was very similar to 2017 (55.4 vs 54.5).

My predictions for 2019

I believe that we are blessed with a very diverse economy in Saskatoon, and that our city will continue to expand in 2019 (with a large expansion in the technology & agriculture sectors). This will push demand as those who are qualified for home ownership search and buy their home. Careful attention will be put on the Bank of Canada and interest rates, as too many increases may keep buyers cautious. I predict 2 interest rates increases (I was saying 4 a couple months ago) based off Canadian economic indicators. I predict that sellers and builders will continue to adapt to a decreasing supply trend and a lower supply will help keep some upward pressure on prices. I predict that by the end of 2019 (if we see more than a .5% increase in interest rates) we may start to see some slight upward pressure on Rents as more people are forced into renting vs homeownership (thus making now a great time to buy).

2019 will be a balancing act between supply and demand, and I predict that price changes we be neutral. 2019 should look very similar to 2018 unless we see a large economic stimulus (ie. Oil pipe line, higher potash prices, etc..)

Give me a call if you would like some more information or you are looking to buy or sell! Brodie Zuk - (306) 361-5393


Saskatoon is the place to be during the summer. Taste of Saskatchewan, Sasktel Saskatchewan Jazz Fest, Nutrien Fringe Fest, Shakespeare on the Saskatchewan, Saskatoon Folkfest, and the Saskatoon Ex are just a few of the great festivals coming to YXE this year. But some of Saskatoon’s best fun isn’t at an organized event. The South Saskatchewan River gives Saskatoonians a free and convenient way to make memories during the warmer months. Here are 5 great beach ideas to add to your summer bucket list.


1. Explore the river in a canoe, kayak, or on paddleboard


Whether you join the Saskatoon Canoe Club or bring your own boat, paddling the South Saskatchewan is a must in the summer. For serious paddlers, the Chief Whitecap Waterway runs from Gardiner Dam to Saskatoon and provides more than 100 kilometers of river to explore. For those who prefer a more laid-back experience, you can find plenty of adventures closer to the city. Launch your craft at the Fred Heal Canoe Launch, park on a sandbar for lunch, and wrap up the trip by getting out of the river at Victoria Park.


2. Have a beach day


Just outside of Saskatoon city limits you can explore some beautiful beaches perfect for spreading out a towel and grabbing a tan, playing Spikeball, or tossing a frisbee. Whether it’s Paradise Beach on the west shore or Fred Heal on the east, the river offers numerous places to relax and recharge. Just remember to clean up after yourself and leave the beach as beautiful as you found it.


3. Take your dog to the beach


Did you think you were the only one who deserves a beach day? Our canine friends love the water just as much (and maybe more) than we do. Just outside of Saskatoon lies the community of Furdale and the Chief Whitecap off leash dog park. A parking area is available off Saskatchewan Crescent or you can hike from Diefenbaker Park to the beach via a Meewasin Valley Authority path. Once you get to the off leash area set your four-pawed friend free and relax. Equally suitable for humans, Chief Whitecap Park is one of Saskatoon’s best kept secrets.


4. Go for a bike or a hike along the river


Although this won’t actually put you into the river (unless you get lost), exploring the river valley by land is just as fun as using the water. The Meewasin Valley Authority has been working hard to not only conserve the river valley, but also make it more accessible by installing more than 80 kilometres of Meewasin Trail. Maps of the valley and the paths and trails that line it can easily be found online.


5. Float down the river


This final activity might require the least amount of energy out of all the items on this list. Grab an inner tube or inflatable raft, a PFD, and a paddle, and you have everything you need to kill an afternoon on the river. Depending on where you launch from and how fast the river is flowing you could be in the river for one hour or four. An easy first float is to launch from Diefenbaker Park and get out at Rotary Park. Here are a few pro tips. Make sure you have a lifejacket for everyone on board as well as a paddle for each craft. Tie all the floats together so you don’t get separated from your friends. Bring plenty of drinking water, sunscreen, and good summer music, and you’re set for a lazy afternoon on our beautiful river.



Once you finish this list, do it again! The great thing about the river is it isn’t going anywhere so you can enjoy it as many times as you want. The river is always changing, so every week could bring a different adventure. The river is one of Saskatoon’s most beautiful features and it is even more beautiful when you’re up close and personal with it.



Here are some links that may be helpful in planning your next river adventure:


the Meewasin River Valley Authority website

City of Saskatoon river safety brochure

Saskatoon Canoe Club website

Chief Whitecap Waterway website



Brodie Zuk and Tim Hollman are Saskatoon Real Estate Agents who are commited not only to buying and selling real estate but, also to the promotion of a healthy community-centered lifestyle. For more information on how Brodie and Tim can help match you and your family with your Saskatoon dream, give them a call at (306) 361-5393 or (306) 230- 1126.


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