New property listed in Rosewood, Saskatoon

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
Your home may be the biggest purchase of your life, and caring for it is a big responsibility. Knowing how to maintain it can help you avoid costly repairs in the future.
Once the ground has thawed and the trees begin to bud, it's time to prepare your home for spring. On top of your regular spring cleaning, you'll also want to consider these general upkeep tips. Use our spring home maintenance checklist to make sure your home is in tip-top shape:
1) Get your lawn ready for summer
Do you know what your lawn needs to look great all spring and summer? Jamie and Ross have teamed up with Nolan Fluter from Ideal Lawn Care in Saskatoon to share their top Lawn Care tips for spring and summer.
2) Manage the water around your house
Did you know that you should be cleaning out your gutters and adjusting the downspouts on your house at the beginning of each spring season. If you don't manage your water at the beginning of spring each year you could experience water issues and have water leaking into your home from your foundation.
In the video below, Ross & Jamie from Tait will show you how to clean out your gutters and manage your water in the spring.
3) Check your sump pump
Have you checked your sump pump recently? It may not be a sexy topic, but regular sump pump maintenance can save you from lots of problems and unexpected costs down the road.
Check out the video below where Ross will explain why it’s so important to regularly check your sump pump and how you should do it.
4) Maintain your decks and fences.
If your home has a deck or fence, it's spent the past few months exposed to snow and cold, and will need at least a look-over. Be prepared to at least pressure wash it, and look for signs that it needs repairs or sanding and resealing.
5) Clean out your HRV System
Did you know you there are filters in your HRV system, and that you should be cleaning them out every spring?
Watch the video below where Jamie shows you how to clean your HRV system.
6) Clean out window wells of debris.
If you have a basement, you also have window wells. All kinds of things can get down in there from leaves, to trash, to animals.
7) Check Exterior Lights
You'll be spending a lot more time outside as the nights get warmer. Might as well check your exterior lights, and replace bulbs that need replacing. This applies to both main house lights, and smaller little garden or pathway lights.
8) Care for your windows and doors
Power-wash all of your windows and siding. Clean your windows and door screens. Repair or replace caulking and weather stripping around windows, doors, and mechanicals.9) Check and service your lawnmower
Your lawnmower and other electric tools you'll need to tend to your yard have been in a cold shed for months. Beyond gassing up your mower, it'll need more servicing in the form of an oil change, new spark plugs, sharpening the blades, and others. Consult your mower's manual for the best way to care for it.
Contact Us:
Tait Real Estate - Realty Executives Saskatoon
Jamie Tait - 306.203.0004 - jtait@realtyexecutives.com
Ross Tait - 306.230.2338 - rtait@realtyexecutives.com