“The Sapphire” is a part of the North Prairie Craftsman Series! This modern open concept 1,793 Sq.Ft two storey home with 3 Beds and 2.5 Baths is the perfect functional layout. The main floor is home to the newly designed kitchen with trendy cabinetry, eat-an island, Throughout this model love the upgraded finishing package. quartz kitchen countertops and bathroom vanities with undermount sinks. The second floor hosts an amazing master bedroom, with a four piece master ensuite, and walk-in closet. Enjoy the convenience of having upper floor laundry. With each bedroom there is a USB plug-in and TV cable so that you can ensure you are always connected when you need to be. Become tech-savy when you are able to control your thermostat through your phone with the Nest Thermostat. Other helpful features include HRV timers, and bathroom light sensors. The Sapphire also includes upgraded craftsman exterior, spacious front verandah, and a double attached garage. All North Prairie homes are covered under the Saskatchewan New Home Warranty program. GST included in purchase price with rebate to builder. *Pictures not exact representations of the unit, used for references purposes only.
Welcome to 621 7th Street E. This beautiful character home is just off Broadway, is close to shopping, restaurants and a short walk to the city centre, Meewasin Trails, U of S, and RUH. A perfect home to take advantage of downtown and Broadway living but on a quiet street. This 1,391 sq ft 3 bedroom home has ample space that blends the original millwork and hardwood of a traditional character home with a newer large kitchen. The kitchen has plenty of cupboard storage and counter space that leads on to a deck that overlooks a park-like backyard. Upstairs you will find 3 bedrooms and a 4pc bathroom. Also there is attic access that opens to a loft area ideal for storage or play area. Only possessions after Aug 2 will be considered.
Check out the listing at https://www.youtube.com/watch?v=TxvbZMiH3Gs
Welcome to #537 - 150 Langlois way. This 3 bedrooms, 2 bathrooms, 3 story townhome is situated in the heart of Stonebridge. Close to schools, shopping, transit, and parks/walking paths. The ground floor houses the garage and large den. On the second floor, there is a living area, laundry, 2pc bath, kitchen, dining, and deck. The third floor has an additional bonus area, 3 bedrooms, and a 4pc bathroom.
Welcome to 423 Brightwater Crescent, located in the heart of Lakeridge. This exceptionally well maintained, spacious home is 1576 sq feet, has beautiful hardwood floors throughout all 3 floors and cork flooring in the bathrooms. The main floor features a living room, dining room, & kitchen. The kitchen has ample storage space, granite countertops, and a Wolf gas range with a hood vent that is direct vented outside. The top level has 3 bedrooms and a 4pc bathroom. The main bedroom has a 3pc ensuite bathroom and a walk-in closet. On the 3rd level is the family room with a gas fireplace, 4pc bathroom and large windows with ground level views of the backyard. Also on the 3rd floor is a large mudroom, laundry and direct access to the double attached garage. The basement level is open for development of a fourth bedroom, 4th bathroom, or a third family room. The mature backyard is fully landscaped and includes a two tiered deck that leads to the hot tub, pergola, and garden shed. The furnace and shingles were replaced in 2016 and the hot water heater in 2013. Conveniently located to schools, parks, and shopping this home has something for everyone. Only possession dates after Aug 2nd will be considered.
Welcome to 661 Reid Road. This bright 1210 sq ft bungalow features an open concept living space with an updated kitchen and new appliances! The main floor also features 3 large bedrooms and a 4pc bathroom. The owner's bedroom is large with an attached 3pc ensuite. The basement is fully finished with 1 bedroom, den, 3pc bath, and a huge living area! the back yard is complete and also has back lane access.
Welcome to 1810 Pitt Ave. This is a meticulously maintained, 1644 SQ. ft 3-level split. This home offers plenty of entertaining space with separate living and family rooms with hardwood and tile throughout. The bedrooms are all very spacious with solid hardwood floors. The covered back deck is great for entertaining and the west-facing back yard provides plenty of sunshine. This home also includes a fully developed basement with a living room, 4pc bathroom, bedroom, and kitchen. It also has a separate entrance.
Welcome to 416 33rd St. This home is conveniently located to the river, downtown, and main arteries for easy access to all areas of the city. It is situated on a large lot and the home has been very well maintained. The furnace, hot water heater, A/C, shingles are newer and all windows have been replaced. Ideal for a first time buyer, revenue property, or for infill potential.
2021 started off with a very busy real estate market in Saskatoon. We want to share why we think this means it's the perfect time to sell your home in Saskatoon, and what you need to know about the real estate market right now as a buyer.
Sales volumes and average sales prices have steadily increased and home inventories have continued to stay low in Saskatoon. Let’s take a look at the stats.
In April, there were 550 home sales which represents a staggering increase in sales of +159% compared to April 2020 where we only saw 213 sales. But keep in mind that this number is highly exaggerated as our real estate market was heavily impacted by the start of the COVID-19 pandemic last April and this skews the numbers dramatically. To get a more accurate sense of how the market is doing, we should compare the home sales from April 2021 to home sales from April 2019, where we saw 380 sales, which is an increase of +45.5% compared to 2021. This is still a significant increase and demonstrates how strong the market is performing.
Inventories have also stayed fairly low over the last several months due to high sales volumes, but we have seen an increasing number of listings being added to the MLS. There are currently approximately 1400 active listings on the MLS. There were 958 new listings posted in April which is up +96.3% compared to April 2020, where we only saw 470 new listings. But again, to get a more realistic picture, we should actually compare these numbers to April 2019 where we saw 777 new listings posted which compared to April 2021, is only an increase of +23.3%.
We’ve also seen a consistent surge in home prices over the last several months. In January, we started the year with an average sales price of $348,352, then $353,542 in February, $362,222 in March, and then in April it was up to $372,532. April’s average sales price is an increase of almost +8.3% YTD compared to April 2020 and an increase of +10.4% YTD compared to April 2019.
So...after several consistent months of these HOT market conditions, what does this mean for you right now as a buyer or seller?
It means that it is an IDEAL time to sell your home in Saskatoon. The combination of elevated average sales prices, extremely high sales volumes and low listing inventories has created the perfect storm for sellers. Especially, if you have a home that fits into a couple of specific categories in the market.
Homes between 350K - 500K are in VERY short supply right now with a 1.7 months supply. Anything below a 3 months supply is considered to be a sellers market in that price range. We are consistently seeing homes in this range sell extremely quickly and with multiple offers. If you have a home to sell in this price range, do not hesitate because NOW is the time to get it on the market. It will sell fairly quickly.
In April, there were 90 homes sold between 500K - 750K. This is a historically high volume of sales in this price range. If you’ve been waiting for the right time to sell your home in this price range, NOW is the time to take the leap and get it on the market.
We are optimistic that this hot market will likely continue over the next couple of spring/summer months, but once things start returning to normal with more and more vaccinations, and temperatures start to drop in the fall, it's hard to predict if these market conditions will be able to continue. So to reiterate NOW is the time to get your home listed!
Now more than ever before, with the market as hot as it is right now, it’s important to rely on a realtor you trust for guidance.
For buyers, we have been seeing multiple offer situations, and some homes selling over ask. We can help guide you in the offer process to ensure you have the best chance of getting the home you want, when you find it.
For sellers, in this vibrant market, we will help you create an effective strategy for marketing, pricing, and negotiations, as transactions aren’t as cut and dry as they might have been before.
As always, if you would like any information on buying or selling your home, or about the real estate market in general in Saskatoon, don’t hesitate to contact either of us.
OSFI (Office of the Superintendent of Financial Institutions) has propose a change to the uninsured stress test rate. OSFI regulates and supervises more than 400 federally regulated financial institutions (80% of all mortgage lenders). They do not watch over provincial credit unions and private lenders. OSFI reports to parliament through the Minister of Finance and regulates the conventional space.
Proposed change - Effective June 1st the qualifying rate for conventional (uninsured) mortgages will be based on a stress test of 5.25%
Note that Department of Finance regulates insured mortgages who currently have a stress test rate of 4.79%
Timeline - On May 7th the public was invited to provide feedback to the change. By May 24th the feedback will be taken into consideration and the final amendments will be made. As of June 1st the changes will take effect.
What does this mean to clients?
• If you have a signed accepted offer dated prior to June 1, 2021, your mortgage broker can submit and qualify using 4.79% It will not matter when the closing date is or if its insured or uninsured.
• If you have a signed accepted offer dated June 1st or later, your mortgage broker will be qualifying you using 5.25% on conventional files (20% + down payment) and 4.79% on insured files (***this may change) We are hearing whispers that the insured files will be changing to the 5.25% stress test as well but have had no confirmation of it as of yet.
When looking at the numbers and running the scenarios, there will be approximately a 5% decline in buying power.
So for instance: Teacher & research assistant have a combined income of $143K Today: 4.79% conventional @ 30 yr AM – would qualify for $735K June 1: 5.25% conventional @ 30 yr AM – would qualify for $700K
If you have any questions please feel free to reach out to me.
Welcome to River View Acreage. This beautiful timber hybrid home sits at the highest point of this 12 acre lot with spectacular views of the South Saskatchewan River with the valley and rolling hills below. The kitchen has ample storage with rustic maple cabinets, 2 hammered copper sinks, high-end faucets, quartz countertops and a gas range with hood vent. While in the living room, sit back in front of the natural gas, stone fireplace or take in the scenery through the picture windows looking east. On the main floor is the master bedroom with a 3pc ensuite and plenty of storage space with a walk-in closet and a second wall closet. A second bedroom is also on the main floor. Start your morning by soaking up the sun and enjoying the views with your morning coffee in the 4 season sun room. Enjoy the evenings on the wrap around deck or in the hot tub in the spa building. On the second floor there is another bedroom, 3pc bath and storage areas. The views from the great room from the second story loft are stunning. There is bamboo flooring throughout the main and 2nd floor with in-floor radiant heat in the Vinyl tiled sun room. The one bedroom, one bath, walkout basement suite has a kitchen, natural gas fireplace and has in-floor heated, acid washed floors. The basement could be used for your family or as revenue potential. The four car attached heated garage is connected to the house with a mudroom. Both the garage and mudroom have in-floor heating and the garage has a central drainage system that drains outside. Above the garage is an 1152 sq ft, two bedroom suite complete with natural gas fireplace, kitchen, 4pc bathroom, and laundry. Total living space in this home is 5000 sq Ft. Escape the hustle & bustle of the city to this spacious acreage just minutes away from Saskatoon by capitalizing on the great revenue potential this home provides.
Check out virtual tour at https://mls.kuu.la/share/7nkXN?fs=1&vr=0&zoom=1&sd=1&gyro=0&autorotate=0.12&thumbs=2
Public Remarks: The Emerald model is a 2 storey, 1889 sq. ft. home complete with 3 beds, flex room, bonus room, and 2.5 baths. The beautiful master bedroom is complete with a huge walk in closet and a 5 piece en suite bathroom. The Emerald has two options of transforming the walk-thru pantry to a butler pantry or spice kitchen, quartz countertop in the kitchen and bathroom vanities. Laminate flooring throughout the main floor. this model also has the option of basement development for a total of 820 Sq. Ft with 2 beds, 1 bath and an open concept family room. All North Prairie homes are covered under the Saskatchewan New Home Warranty program. PST & GST included with rebate to builder. Pictures may not be exact representations of the unit, used for reference purposes only. Errors and omissions excluded. Prices, plans, promotions and specifications subject to change without notice.
The Emerald model is a 2 storey, 1889 sq. ft. home complete with 3 beds, flex room, bonus room, and 2.5 baths. The beautiful master bedroom is complete with a huge walk in closet and a 5 piece en suite bathroom. The Emerald has two options of transforming the walk-thru pantry to a butler pantry or spice kitchen, quartz countertop in the kitchen and bathroom vanities. Laminate flooring throughout the main floor. this model also has the option of basement development for a total of 820 Sq. Ft with 2 beds, 1 bath and an open concept family room. All North Prairie homes are covered under the Saskatchewan New Home Warranty program. PST & GST included with rebate to builder. Pictures may not be exact representations of the unit, used for reference purposes only. Errors and omissions excluded. Prices, plans, promotions and specifications subject to change without notice.
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