March 2021 -
I hope you are enjoying this change in weather! It sure felt like winter was extra long this year (knock on wood).
The Saskatoon Real Estate market is currently experiencing lower than usual supply. This coupled with low interest rates has created upward pressure on prices. This comment, however, is subjective to the price and style of the real estate being sold. Let me show you what I mean:
This table shows us a metric called "months of supply". Typically 4-5 months of supply is considered balanced. Less than 4 months (Sellers Market) is advantageous to sellers (as it puts upward pressure on prices) and anything above 5 months (buyers market) typically benefits buyers and give them more negotiating power. As you can see, on the right side of the graph, the entire Saskatoon market seems to be in "Sellers" territory (except for 1M+). The table below shows the further break down of the Single family home market vs. the condo market in Saskatoon.
This table is important as it shows a more balanced market in the condo segment and a pure sellers market in the sub 1M+ single family segment. So... what does this mean?? If you are thinking of selling, current market conditions are the best they have been in many years. If this is you, or you know of friends or family looking to sell, let's connect! I would love to share additional market information with you and let you know what marketing strategies, in order to maximize your return, we use in this type of market.
Brodie Zuk 306.361.5393
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