Summer is almost officially here, and the weather is getting hotter in Saskatoon! Can we expect the summer real estate market to stay hot as well?

Our Summer 2021 Real Estate Market Preview is here! We are going to review the stats from the past month, and share our predictions for the summer season, and what you need to know if you plan to buy or sell.

Let’s take a look at the stats from May 2021...

Home sales are very strong

In May, there were 576 home sales which represents an increase in sales of +77% compared to May 2020 where we only saw 326 sales.

This is the third month in a row where sales have been over 500 homes - there were 570 sales in March, 550 in April and now 576 in May. This is an unusually high volume of consistent sales. The big question is, will this be able to continue?

If we try to determine the possible underlying cause for these consistently strong sales volumes, we could use the theory that COVID-19 has left many people with more disposable income right now...

With the cooler temperatures outside, you would normally expect to see the real estate market cool off...but that is not what we saw this past month.

In October we saw 430 home sales, which is a super high number for this time of year. This is actually the same number of sales we saw in September.

Historically at this time of year, things begin to wind down, social activities begin, and the market starts to cool off. For example, in October of 2019, we only saw 307 home sales. So that means for this October we are up 41.5% in homes sales compared to last year.

We commonly hear from clients that they think they should wait until spring to get their home on the market...but we want to show you why we think December is actually a great month to sell your home.

To prove our point, we wanted to collect some historical, end of the year data...and after digging around a bit, we found a trend that we had to share.

We went back a few years, and decided to look at sales to listings ratios. Sales to...

September Saskatoon Real Estate Market Update

After three months of an extremely HOT real estate market in Saskatoon, we are cautiously optimistic that this upward trend may now be here to stay for a while. 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.

As the summer began, after the first initial shock of COVID-19, we started to see the real estate market heat up. At that time, we both thought that the increase may have been just an initial reaction to the pandemic, and that these conditions might not last very long.

However it looks like it might not be as short term as we initially thought. Sales volumes and average sales prices have steadily increased and home inventories have continued to stay low.

In June, home sales were up +37%, and then in July they were up +41% and now once again in August they are up +41.9% for the month and +8.84% for the year. This past...