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6 Reasons Why Choosing the Right Saskatoon Real Estate Experts Makes All the Difference in Selling Your Home

Selling your home in Saskatoon? Let's make it simple and successful. Here's how Tait Real Estate - Realty Executives Saskatoon has got your back:

Insightful Advice: Selling a home in Saskatoon isn't just about putting a "For Sale" sign up. We'll walk through your home together, highlighting what makes it unique and suggesting a few tweaks (like maybe a new coat of paint or decluttering) to make it irresistible to buyers. And, with Jamie's background in construction and Ross's years in renovations, we know just what will make your home shine.

Spot-On Pricing: Price it right, and it sells. Price it wrong, and it sits. We're all about getting it just right. We'll do a deep dive into the Saskatoon market and evaluate similar homes to find that sweet spot for your home’s price. This isn't about guessing; it's about smart, informed decisions.

Marketing Magic: We don’t just list your home; we market it. That means professional photos that make your home look its best, plus using every tool in our kit - from our website to social media - to get your home the attention it deserves. More than just the MLS, we're talking a full-blown marketing approach.

Communication Champions: Selling a home in Saskatoon can feel like a rollercoaster, but we’re here to keep you in the loop and make it stress-free. Expect regular updates, transparent feedback, and a partnership approach. We’re in this together!

Negotiation Ninjas: We’re here to fight for the best deal for you. Every aspect of your sale is up for negotiation, and we won’t shy away from getting you the terms that work best for you. We're your advocates, always.

Seamless Closing: When it's time to close, we're all about the details. We coordinate everything, making sure the final steps are smooth and hassle-free. Think of us as your closing superheroes, taking care of the nitty-gritty so you don't have to.

In Conclusion:

With Tait Real Estate - Realty Executives Saskatoon, you’re not just selling a house in Saskatoon; you’re setting yourself up for success with a local team that values honesty, professionalism, and your needs first.

Ready to start? Let’s chat about your home in Saskatoon with a free market evaluation. Contact us today!

🏡 Tait Real Estate - Realty Executives Saskatoon 🌟
Saskatoon's Premier Real Estate Experts

Jamie Tait
📞 Phone: 306-203-0004
📧 Email: jtait@realtyexecutives.com

Ross Tait
📞 Phone: 306-230-2338
📧 Email: rtait@realtyexecutives.com

🌐 Website: www.taitrealestate.ca

Reach out today and let's make your property dreams a reality in the heart of Canada!

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Saskatoon's Real Estate: A Smart Pick, Even with Rising Interest Rates

Hey There, Future Homeowners!

Are you thinking about jumping into the real estate market but feeling a bit jittery about the interest rates? Well, let's chat about why Saskatoon, Saskatchewan, is still a great place to invest, even with those rates creeping up.

Saskatoon: Your Budget-Friendly Option

First off, did you know Saskatoon is the third most affordable city for real estate in Canada? Yep, you read that right! While prices in big cities like Toronto and Vancouver are sky-high, Saskatoon offers a breath of fresh air with its more wallet-friendly options. And that's not just a temporary thing – it's one of the cool features of this lovely city.

Sales are Buzzing in Saskatoon

Now, you might have heard that in some places, house sales are slowing down because of higher interest rates. But here in Saskatoon, it's a different story. Houses are selling like hotcakes! This strong sales scene, mixed with already reasonable prices, hints that house values might go up in the future. Sounds like a smart investment, right?

Interest Rates: What's Happening Now?

About those interest rates – there's some news you should know. The Bank of Canada has indicated that they're likely to keep interest rates around 5.0% for the next few months. This doesn't mean rates won't change in the future, but for now, they seem to be holding steady. This stability gives us a clearer picture of the current market, helping you make more informed decisions when considering buying a house.

A Lesson from 1971: Timing in Real Estate

Let's rewind to 1971 for a quick history lesson. Back then, the interest rate for a mortgage was 7.33%. Now, imagine if someone decided to wait for those rates to drop. They would have ended up waiting until 1993 – that's a whopping 22 years on the sidelines! During that time, the value of houses didn’t just grow a little; it skyrocketed.

What's the lesson here? It's simple: waiting for the "perfect" time to buy a house can mean missing out on some serious growth in your investment. The real estate market tends to go up over time, so the longer you wait, the more you might miss out. Instead of waiting for the perfect rate, jump in when you find the right house. Let time work in your favor!

Choose the House, Keep an Eye on the Rate

In the world of buying houses, there's a nifty little saying: "Marry the house, date the rate." What this means is, find a house you love and stick with it. As for interest rates? They'll go up and down, but your choice of a good home will stay solid.

Wrapping It Up

So there you have it! Buying a house in Saskatoon is still a smart move, even with interest rates doing their thing. The city's got great prices, and the market is buzzing with activity. Just remember, in the house-buying game, the best time to start is now, looking ahead to the future.

Ready, Set, House Hunt!

Keep these tips in mind as you scout for your next home. Saskatoon's mix of affordability and a lively market scene is a rare find. So, stay savvy, think about your long-term plans, and happy house hunting in Saskatoon!

🏡 Tait Real Estate - Realty Executives Saskatoon 🌟
Saskatoon's Premier Real Estate Experts

Jamie Tait
📞 Phone: 306-203-0004
📧 Email: jtait@realtyexecutives.com

Ross Tait
📞 Phone: 306-230-2338
📧 Email: rtait@realtyexecutives.com

🌐 Website: www.taitrealestate.ca

Reach out today and let's make your property dreams a reality in the heart of Canada!

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Holiday Home Selling: How to Festively Stage Your House Without Overdoing It

Hey everyone!

Selling your house over the holidays? It might sound like a challenge, but it’s actually a pretty good time to get your 'For Sale' sign noticed. You might wonder if holiday decorations will help or hurt your chances. Here's the thing: you can still spread a bit of holiday cheer, just keep it chill.

The Lowdown on Decorations

Think 'tasteful touches' rather than 'Santa’s grotto'. A few well-placed decorations can make your home feel cozy and inviting without cramping your space. And about those outdoor lights – a few can add a welcoming glow, but there's no need to light up the whole street.

Size Matters

With decorations, bigger isn’t always better. Ask yourself if that huge tree or giant inflatable snowman is making your space feel smaller. Stick to smaller decorations that complement your home without dominating it.

Color Choices

Matching your decorations to your home’s color scheme can be a smooth move. Neutral tones work well, but if you're a fan of color, just make sure it doesn't clash with what you’ve already got going on. Red accents are great for a pop of festive color without going overboard.

Keep It Neutral

Keep the personal holiday mementos packed away this time. Buyers want to imagine their own holidays in your house, not be reminded of yours. Simple and generic is the way to go for broad appeal.

The Final Word

You can definitely have fun decorating for the holidays while selling your house – just keep it simple. Your place will still feel warm and welcoming, and buyers will be able to easily see themselves making their own holiday memories there.

Cheers to selling your home over the holidays! 🏡🎁

🏡 Tait Real Estate - Realty Executives Saskatoon 🌟
Saskatoon's Premier Real Estate Experts

Jamie Tait
📞 Phone: 306-203-0004
📧 Email: jtait@realtyexecutives.com

Ross Tait
📞 Phone: 306-230-2338
📧 Email: rtait@realtyexecutives.com

🌐 Website: www.taitrealestate.ca

Reach out today and let's make your property dreams a reality in the heart of Canada!

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Unwrap the Gift of a Quick Sale: Why December Could Be the Golden Ticket to Selling Your Home Fast!

Hello Home Sellers!

Did you know December could be the ace up your sleeve when it comes to selling your house? It's a fact that there are generally fewer houses for sale during this month, which has historically led to some of the best sales-to-listing ratios of the year.

So, what exactly is the sales-to-listing ratio? Simply put, it measures the market's temperature by showing us the relationship between how many homes are sold and how many are put up for sale. A higher ratio means homes are selling quickly.

Looking at the hard facts, the average sales-to-listing ratio over the past three years has hovered around 42.4%. But in December, it jumps to 61.2%. That's right — you've got nearly a 20% greater chance of selling your home in December than in any other month.

This year is shaping up to be particularly promising. With even fewer homes listed compared to last year, we're anticipating that this December might be an exceptionally good time to sell.

Worried that you're too late to the game? Don't be. There's still time to list your home and take advantage of the December surge. If you're considering selling or just want some advice, feel free to get in touch. We're ready to help you make the most of this opportunity.

🏡 Tait Real Estate - Realty Executives Saskatoon 🌟
Saskatoon's Premier Real Estate Experts

Jamie Tait
📞 Phone: 306-203-0004
📧 Email: jtait@realtyexecutives.com

Ross Tait
📞 Phone: 306-230-2338
📧 Email: rtait@realtyexecutives.com

🌐 Website: www.taitrealestate.ca

Reach out today and let's make your property dreams a reality in the heart of Canada!

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Considering building Your Dream Home? Top 5 Things to Consider When Choosing a Residential Home Builder

At Tait Real Estate, your trusted Saskatoon real estate agents, we know a thing or two about homes - especially new ones! As specialists in selling brand-new properties and experts in Saskatoon homes for sale, we understand the excitement, anticipation, and myriad decisions involved in creating a space that’s uniquely yours. One of the most pivotal choices you'll make in this journey is selecting the right residential home builder. Fear not! We're here to guide you through the process.

Below is a friendly guide to the top 5 things to consider when making this significant decision, ensuring your new home perfectly mirrors your dreams and expectations.

1. Reputation, Experience, and Portfolio: Trust and Tangible Proof

Kickstart your journey by exploring the builder's reputation and experience. A builder with a robust track record is like having a reliable friend on your side. Check out online reviews, consult friends, or peek into local community forums. Don't forget to ask for a portfolio or a tour of past projects, ensuring you choose a builder with a stellar reputation and evidence to back it up!

2. Transparency is Golden

Your builder should be an open book, clearly communicating costs, timelines, and materials. Their answers should be prompt and comprehensible. If they seem elusive or vague, consider it a sign to proceed with caution.

3. Flexibility, Customization, and Standard Features: Comparing Apples to Apples

When exploring your options, make sure to compare 'apples to apples' among different builders. Ask about the standard features that are included in the base price of the home, such as flooring, finishes, and appliances. Some builders may offer more while others might offer less, so knowing what's included is key. Then, understand what level of customization each builder allows. While some people might prefer a builder who offers a plethora of customization options, others might appreciate the simplicity of standardized features. It's all about your personal preference and ensuring you get the best value for your investment.

4. Customer Service: Building a Relationship, Not Just a Home

Assess the level of customer service. Remember, building a home also means building a relationship. Take note of how timely and respectfully the builder responds to your inquiries. A builder who keeps you well-informed is a true treasure!

5. Warranty Programs: A Promise of Quality and Care

Last but not least, inquire about the builder’s warranty program. A strong warranty is a reassuring safety net for your new home, showcasing the builder's confidence in their work and commitment to your satisfaction. Peace of mind in knowing your investment is protected is priceless.

Final Thoughts

Choosing the right residential home builder is a monumental step towards creating your dream space. With these five considerations in mind, you're well on your way to finding a builder who aligns seamlessly with your vision, budget, and expectations. Navigating this path might seem daunting, but you're not alone! If you’re looking to buy a home in Saskatoon and have questions about home builders in Saskatoon, don't hesitate to contact Tait Real Estate - Realty Executives Saskatoon. Jamie and Ross Tait have extensive knowledge and experience in selling new homes and collaborating with builders in the Saskatoon area. They're more than ready to help you navigate the pros and cons of choosing the right builder for your needs. Here’s to the exciting journey of home building! 🏡✨

🏡 Tait Real Estate - Realty Executives Saskatoon 🌟
Saskatoon's Premier Real Estate Experts

Jamie Tait
📞 Phone: 306-203-0004
📧 Email: jtait@realtyexecutives.com

Ross Tait
📞 Phone: 306-230-2338
📧 Email: rtait@realtyexecutives.com

🌐 Website: www.taitrealestate.ca

Reach out today and let's make your property dreams a reality in the heart of Canada!

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Exciting News: Learn About New Home Savings with the PST Rebate and SSI Grant!

Hey Saskatoon homebuyers, we've got some news for you! With real estate prices on the rise and rental units hard to come by, the Government of Saskatchewan is stepping in to lend a hand. They've rolled out a couple of cool initiatives to make homes more affordable and up the number of rental options available, which is great news for the Saskatoon housing market. Let's dive in!

Saskatchewan Introduces Financial Support for Housing

To address the challenges faced by homebuyers and renters, the province has launched the Provincial Sales Tax (PST) Rebate for New Home Construction and the Secondary Suite Incentive (SSI) grant program.

PST Rebate for New Home Construction:

  • Snag a rebate of up to 42% of the PST on a brand-new home.

  • This applies to homes priced under $550,000 (land and furnishings excluded) and deals signed or started after April 1, 2023.

  • Homes should be occupied by April 1, 2026, and rebate applications are due by March 31, 2027.

  • For more details, visit the PST Rebate on New Home Construction webpage.

Secondary Suite Incentive (SSI) Grant Program:

  • Get a grant covering 35% of the cost to build a new secondary suite (like a basement or garden suite) at your place, capped at $35,000.

  • The suite must have a separate entrance, full kitchen, and bathroom, and comply with rental regulations.

  • Costs incurred between April 1, 2023, and March 31, 2026, are eligible, with applications accepted until March 31, 2027.

  • Keep an eye on the Secondary Suite Incentive (SSI) webpage in January 2024 for more info.

If you combine the benefits of these two new programs in Saskatoon, and you could save up to $46,340! With such incentives, the decision to buy a home in Saskatoon becomes even more enticing.

Need More Info?

Need more info on these new programs? Tait Real Estate, one of the best realtors in Saskatoon, is here to help you figure out how these opportunities can work for you. Whether you're looking to sell a home in Saskatoon or perusing Saskatoon real estate listings on MLS Saskatoon, we've got you covered. As your trustworthy home buying agents in Saskatoon, we're equipped to guide you through these exciting times. Let's chat about your next home or investment!

🏡 Tait Real Estate - Realty Executives Saskatoon 🌟
Saskatoon's Premier Real Estate Experts

Jamie Tait
📞 Phone: 306-203-0004
📧 Email: jtait@realtyexecutives.com

Ross Tait
📞 Phone: 306-230-2338
📧 Email: rtait@realtyexecutives.com

🌐 Website: www.taitrealestate.ca

Reach out today and let's make your property dreams a reality in the heart of Canada!

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October 2023 Market Update

Hey there! As the leaves turn golden this October and we cozy up for fall, it's a great time to chat about the housing scene. Right now, home sales in Saskatoon are buzzing. Why? Well, there aren't many houses available, to begin with. Yes, interest rates have ticked up a bit, but that hasn't slowed folks down. People still really want homes in our area, way more than those rates are discouraging them.

September Stats: In September 2023, Saskatoon's real estate landscape revealed a mix of trends. Active listings for the month totaled 980, with single-family homes leading the pack at 712 and condos following with 268 units. It's noteworthy that out of these condos, 171 were of the apartment-style. However, there was a dip in fresh entries to the market, with new listings for the month at 575, marking a 9% drop from September 2022.

Sales painted a brighter picture with 374 properties changing hands, reflecting a 14% increase compared to the same period the previous year. The average sale price edged upwards too, reaching $375,301— a modest growth of 0.75% from September 2022.

It's evident that while the volume of new listings reduced, the demand and value of properties in Saskatoon continued to show resilience and growth.

When tuning into national TV or flipping through major newspapers, it's clear that a lot of their housing coverage centers around big Canadian cities like Toronto and Vancouver. But it's crucial to remember that what happens there doesn't always mirror our local market in Saskatoon.

Here's a fun fact: even with the current prices and those interest rates, Saskatoon stands strong as one of the top three most affordable spots to live in Canada. If those rates take a dip? With so many people eyeing our homes, prices could go up even more.

So, what's the play? You could buy now, lock in a decent price, but face that slightly higher interest rate. Or, wait it out, hoping for a lower rate but risk paying more for the house itself. If you choose the waiting game, remember you'll be shelling out more upfront and miss out on a few good years of paying down that mortgage. Contact us if you have any questions about the current market in Saskatoon, or if you're planning to buy or sell.

🏡 Tait Real Estate - Realty Executives Saskatoon 🌟
Saskatoon's Premier Real Estate Experts

Jamie Tait
📞 Phone: 306-203-0004
📧 Email: jtait@realtyexecutives.com

Ross Tait
📞 Phone: 306-230-2338
📧 Email: rtait@realtyexecutives.com

🌐 Website: www.taitrealestate.ca

Reach out today and let's make your property dreams a reality in the heart of Canada!

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Why Saskatoon Realtors with Carpentry Skills Are a Home Buyer's Dream!

Hey there, lovely readers of Saskatoon! 🏡✨

Embarking on the home-buying journey in our beautiful city? Most of us have a checklist for what we want in a Saskatoon residential realtor. Beyond just knowing the neighbourhoods or having the best negotiation tactics, have you ever thought of teaming up with a realtor who's also a seasoned journeyman carpenter? This unique combination might just be the secret sauce you didn’t know you needed. Let me tell you why:

1. Depth of Understanding: The best home realtor in Saskatoon is one who brings a profound depth of understanding to every property. When your realtor knows home construction intimately, they offer insights many might miss.

2. Eyes of a Craftsman: Potential issues that most might overlook won't get past a Saskatoon housing agent with carpentry experience. From the quality of the woodwork to the precision of the framing, they spot it all.

3. Money Savers!: Having a home buying realtor in Saskatoon who can identify future repair needs isn't just convenient—it can save you significant money down the line and aid in negotiating favorable terms.

4. Customization Ideas: Visiting Saskatoon homes for sale with an agent who has construction know-how means getting personalized suggestions for potential modifications, ensuring the house feels uniquely yours.

5. Authenticity: The top residential real estate agents in Saskatoon are those who bring authenticity to their advice. And what's more authentic than having built or refurbished homes themselves?

6. Trust: Knowing your Saskatoon homes for sale agent has firsthand construction experience provides an unmatched level of trust. They're not just selling you a house; they're endorsing its quality.

In wrapping up, Saskatoon boasts many talented realtors, but one with journeyman carpentry skills brings an unparalleled blend of insights and expertise. So, if you're on the hunt for a home in our city, maybe consider adding "carpentry skills" to your home buying realtor Saskatoon wishlist! 😉

Happy house hunting, Saskatoon! Remember, it's not just about finding a house; it's about finding the perfect home.

🏡 Tait Real Estate - Realty Executives Saskatoon 🌟
Saskatoon's Premier Real Estate Experts

Jamie Tait
📞 Phone: 306-203-0004
📧 Email: jtait@realtyexecutives.com

Ross Tait
📞 Phone: 306-230-2338
📧 Email: rtait@realtyexecutives.com

🌐 Website: www.taitrealestate.ca

Reach out today and let's make your property dreams a reality in the heart of Canada!

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"Saskatoon Shines: 10 Unbeatable Reasons It's Canada's Ultimate Living Destination!" 🌟🏡🍁

Saskatoon, often dubbed the "Paris of the Prairies," is a charming city in Saskatchewan, Canada. While its beauty, culture, and community spirit are undeniable, real estate statistics also paint an appealing picture. Here are the top 10 reasons why Saskatoon is the best place to live in Canada based on real estate:

  1. Affordability: According to the Canadian Real Estate Association (CREA), Saskatoon has some of the most affordable home prices in Canada, especially when compared to cities like Vancouver, Toronto, and Calgary.

  2. Stable Market: While some Canadian cities have experienced volatile real estate markets, Saskatoon's market has remained relatively stable. This means fewer housing bubbles and more predictability for buyers and sellers.

  3. Growing City, Growing Opportunity: Saskatoon is one of the fastest-growing cities in Canada. As the city expands, new housing developments and neighborhoods are sprouting up, offering diverse living options.

  4. Low Property Taxes: Compared to other major cities, Saskatoon boasts lower property taxes, which can save homeowners thousands over the life of their mortgage.

  5. Balance of Urban and Natural Beauty: Saskatoon offers a mix of modern urban development and natural beauty. The city is divided by the South Saskatchewan River, offering numerous waterfront properties and scenic views.

  6. Investment Potential: With a strong economy driven by industries such as mining, agriculture, and education, Saskatoon's real estate offers promising returns on investment.

  7. Ample Land Availability: Unlike cities constrained by mountains or oceans, Saskatoon has ample land, which means more housing options, larger plots, and room for the city to grow.

  8. Diverse Housing Options: From condos in the heart of the city to large family homes in suburban neighborhoods, Saskatoon caters to a variety of lifestyles and budgets.

  9. Green Initiatives: Saskatoon has embraced sustainability with various eco-friendly developments, green building initiatives, and environmentally conscious city planning.

  10. Sense of Community: Many residents and real estate agents often talk about Saskatoon's tight-knit community. This community spirit translates into neighborhoods that people care about, with residents investing time and money into their properties and their surroundings.

In conclusion, while many factors make a city desirable, Saskatoon's real estate stats bolster the argument for it being one of the best places to live in Canada. Whether you're looking for a great investment or a great place to call home, Saskatoon has a lot to offer.

Contact us if you have any questions about buying or selling in Saskatoon. 

🏡 Tait Real Estate - Realty Executives Saskatoon 🌟
Saskatoon's Premier Real Estate Experts

Jamie Tait
📞 Phone: 306-203-0004
📧 Email: jtait@realtyexecutives.com

Ross Tait
📞 Phone: 306-230-2338
📧 Email: rtait@realtyexecutives.com

🌐 Website: www.taitrealestate.ca

Reach out today and let's make your property dreams a reality in the heart of Canada!

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Fall is finally upon us, the smell of pumpkin spice is in the air, and the real estate market has shifted - so what are they key things you need to know right now as a buyer or seller?

In September, there were 329 home sales which represents a decrease in sales of -16.9% compared to September 2021, where we saw 396 sales.

There were 1190 active listings as of October 3rd, and there were 590 listings added to the MLS in September. This means that new listings were down -9.4% compared to September of 2021.

This September, the average sales price in Saskatoon was $374,042 which is up 9.4% compared to this same time last year.

When we review these stats, it’s clear that sales have slowed down a bit and there are less listings on the market compared to last year. Even though the numbers are decreasing, we encourage you to think of the market as “back to normal” rather than “crashing” as many of the news headlines would have you believe.

The market over the last few years has been heavily influenced by the COVID-19 pandemic. We have seen much higher than average sales and much lower than normal inventories. The numbers we are starting to see this fall, are actually a return to “normal” levels.

Similarly, much is being said in the news about rising interest rates. Buyers had gotten used to seeing extremely low rates over the last few years, but these rates aren’t the norm.

When you look at interest rates over the last 25 years, the average rate is approximately 5.2%. The highest interest rate we’ve seen in the last 25 years was 8.2% in the year 2000. So again, to reiterate, even though interest rates are going up, you should think of them as actually just a return to normalcy.

We also wanted to remind you that as we head into the fall, there are a number of home maintenance tasks that you should try to complete before it snows.

Once most of the leaves have fallen from the trees in and around your yard, make sure you clean out your eavestroughs before the winter to allow for proper drainage.

If you have underground sprinklers, you will need to have them blown out before the temperatures start to dip below freezing. If you don’t, you may run the risk of your lines freezing and cracking which can cause leaks and other problems. Even if you don’t have underground sprinklers, you will likely have an outside water tap, that will need to be turned off from the inside and drained.

If you have lots of leafy trees in your yard, or trees that produce any kind of fruit, it’s best to try and clean up now, in the fall, rather than wait to clean it up in the spring, after its been covered in snow all winter.

Ideally, Patio furniture should be stored indoors over the winter months if you have the space. If not, its best to try and cover them with tarps to protect them from snow and sun. Patio furniture can be a large investment, and you want to make sure you can enjoy it for many years to come.

As always, if you have questions about our local market, we are happy to go over the data with you to give you a more accurate picture of our local market landscape.

Well that's all for this month. Thanks for watching and we’ll see you next month.

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We’ve recently seen several national news headlines talking about how Canada’s housing market is declining and home sales and prices are dropping.


So should you be worried? What does this really mean for you?

This month, we are going to dig into the news headlines and share what you really need to know about the current market conditions.

Here are some National Headlines from the past week:

  • A Global News article stated that “Canadian home prices were down 23% in July from February peak”
  • The Financial Post had a headline that said “Bottom still a ways off for Canada's housing market”
  • CTV News posted that “Canadians cope with a correcting housing market”.

If you were to rely on these national headlines alone for market information, you would likely conclude that market conditions all over Canada are declining rapidly. But you need to keep in mind that all of these headlines are based on National averages, not data specific to Saskatoon and surrounding area. We want to show that when you focus more locally, into the Saskatoon real estate market specifically, the statistics definitely tell a different story.

For example, when you compare the change in average sales price from July 2021, to July 2022 on a National level the stats show that prices have gone -5% across Canada.

But when you zoom into Saskatoon’s market, average prices have actually increased by 6.5% over the last year. That's an 11% swing between the national averages and the local Saskatoon averages. So this is just one example of why you shouldn’t always rely on national headlines to guide local market decisions.

Also, when you compare Saskatchewan’s housing prices compared to pricing across the rest of the country, Saskatchewan is actually the third most affordable province in all of Canada. In June 2022, the average home price in Saskatchewan was $333,400.00. In BC the average home price was a whopping $947,216.00 and in Ontario it was $881,475.00. You could almost buy 3 homes in Saskatchewan for the price of one home in BC or Ontario.

When you look at predictions for the housing market, many experts will agree that nationally we can expect to see the average home price decrease by as much as -12% by the Spring of 2023. In markets like BC and Ontario, RBC has stated that they think we could see declines that exceed 14%, but in Saskatchewan we will likely only see dips in prices of around 3%.

So just remember, the next time you hear a national news headline that is claiming that the sky is falling and the housing market is headed for the toilet, remember that you need to look closer into your local market statistics here in Saskatoon to get a better picture as to what is really going on and how it will affect you.

If you see an article on the news and you have questions as to how it relates to our local market, we are always happy to go over the data with you to give you a more accurate picture of our market landscape.

Contact Us:

Tait Real Estate - Realty Executives Saskatoon
Jamie Tait - 306.203.0004 - jtait@realtyexecutives.com
Ross Tait - 306.230.2338 - rtait@realtyexecutives.com



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Summer is almost officially here, and the weather is getting hotter in Saskatoon! Should you expect the market to slow down in summer because people are away on holidays? Are rising interest rates changing the local market conditions?

We know you have questions…so we’ve put together our Summer 2022 Real Estate Market Preview! We are going to review the current market stats, share our analysis of the current market conditions and give our predictions for the summer season… so that you have the information you need if you’re planning to buy or sell in Saskatoon.

Sales are staying strong in Saskatoon!

In May, there were 541 home sales which represents a slight decrease in sales of -5.4% compared to May 2021, where we saw 572 sales. But this is still a very high volume of sales if you compare it to pre-pandemic levels.

People commonly assume that the real estate market slows down in the summer months due to people being away on vacation. But we expect the market to stay strong throughout the summer. We are still seeing lots of buyers in the market looking for homes to purchase.

In our experience, since everyone is so connected now with their phones and better rural wifi access, most of our clients are still checking their emails for listings while they are on vacation or at the lake. Plus, most people are only gone for a couple of weeks at a time, not the whole summer. As well, most of our listing and purchase documents are signed electronically now so if you’re away you can still sign an offer from wherever you are.

We’ve also seen some urgency from buyers recently due to rising interest rates. Some buyers want to purchase a home sooner rather than later, so that they can lock into a lower interest rate before more interest rate hikes happen.

We think that summer is still a great time to get your home on the market. Especially since inventories are still relatively low in Saskatoon.

Inventories are still low!

There were 1190 active listings as of June 3rd, and there were 858 listings added to the MLS in May. This means that new listings were down -15.6% compared to May of 2021.

This lower supply of homes means that there may be more competition and homes may sell faster.

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.

Thanks and see you next month!



SASKATOON REAL ESTATE MARKET STATISTICS
As of June 3rd, 2022


Total Active listings: 1190
New listings in March: 858
Single Family Homes: 746
Condos: 444
Apartment Style Condos: 300
New Listings are down -15.6% compared to May 2021 


Sales in March: 541
Sales are down -5.4% compared to May 2021


Average Sale price: $367,504
Average Sales Price is up -0.01% compared to 2021


Contact Us:

Tait Real Estate - Realty Executives Saskatoon

Jamie Tait - 306.203.0004 - jtait@realtyexecutives.com

Ross Tait - 306.230.2338 - rtait@realtyexecutives.com



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