If you’ve been thinking about selling your property in Saskatoon or the surrounding areas, this is the time to pull the trigger. Keep watching and we’ll explain the two main reasons why…
Going into early 2022, inventories of single family homes will be EXTREMELY low, sales volumes are staying VERY high for this time of year, and interest rates are still low…for now. Which means that the value of your home RIGHT NOW may be worth more than it’s going to be for the foreseeable future.
Let’s break this down for you…
Reason #1 - Low Inventories of single family homes
When we look at the current market stats in Saskatoon, it is evident that there is an extreme shortage of single family listings on the market. As of December 7th, there were only 985 active listings on the MLS and only 520 of those are single family homes. This is 105 fewer single family homes listed than there were at the beginning of December in 2020, which is a decrease in single family listings of around 16.8%.
We expect this shortage of inventory to continue into the first quarter of 2022, but we will see more homes hitting the market in the spring as we usually do, which is why your home will have less competition right now than it might in the future.
Reason #2 for listing your home now - Demand is high
There are still lots of buyers out there looking for good quality single family homes. The stats show that home sales are up 29% year to date compared to 2020. We are also hearing that interest rates are likely going to be increasing several times in the new year due to the high inflation rates, so that's putting additional pressure and urgency on buyers to purchase a home sooner rather than later.
The next several months will have the least amount of inventory and the highest demand that we might see over the next year. When you combine those two factors - lack of supply and high demand, it creates the ideal conditions to sell your home and the value for your home is increased. So again, if you’ve been considering selling your home, do not hesitate. Let's talk about getting it on the market now to take advantage of the current market conditions.
Well, that's it for now. We hope you all have a wonderful holiday season and a very happy new year. We will see you in 2022!
Tait Real Estate - Realty Executives Saskatoon
Jamie Tait - 306.203.0004 - firstname.lastname@example.org
Ross Tait - 306.230.2338 - email@example.com