Saskatoon, SK

2011 Residential Sales Market Begins on a Positive Note

The 2011 residential resale market started on a positive note with Saskatoon REALTORS® assisting 195 home buyers with the purchase of their dream home. This number was up 10 % from January 2010 when 178 homes were sold. The $300,000 to $350,000 price range continues to be the most active. The average number of days to sell in the month of January was 43 days.

The average residential selling price in January was $300,353.00 this number up 11 % from January 2010 when the average selling price was $270,265.00.

The average residential price is derived by taking the month's dollar volume of homes sold and dividing that number by the unit sales number. The percentage of change should not be used unilaterally as prices vary from area to area. Consumers wishing an accurate estimate of value for their home should contact a REALTOR® member to do a comparative market analysis.

REALTORS® listed 531 homes in January that number up 34% from January 2010 when 395 properties were listed for sale. Home buyers had 958 homes to select from at the end of January.

In areas surrounding Saskatoon sales activity was very active with 57 homes selling that number up 73% from January 2010 when 33 homes were sold. REALTORS® listed 214 properties in these areas in the month of January. That number is up 60 % from January 2010 when 134 properties were placed on the market for sale. The average number of days to sell in areas around Saskatoon during the month of January was 60 days.

The new home market remains strong with steady city lot sales taking place. Interest rates remain unchanged being favorable to purchase that next home. Job creation in the Saskatoon area remains steady. The forecast for the remainder of 2011 is for listing and sales numbers to continue to balance and for prices level or move up slightly due to demand.

Saskatoon Region Association of REALTORS® Inc

Demand for Residential Housing Softened Slightly

For the month of September unit sales were down by 13% with 304 units selling as compared to 351 units selling in September of 2009.Year do date unit sales are down 7% with 2,830 units having sold. The average time on the market was 39 days. The greatest sales activity remains in the $300,000.00 to $350,000.00 price range.

The average residential selling price in September was $312,582.00 up 12% from September 2009 when the average selling price was $279,457.00. Year to date the average selling price is also up 6% and stands at $294,465.00. The increased average selling price indicates sustained activity in the mid to upper price range. Another contributing factor is with new home construction being active numerous new homes are being sold through the MLS® system. Often these new homes are in the mid to higher price range impacting the average selling price.

The average residential price is derived by taking the month's dollar volume of homes sold and dividing that number by the unit sales number. The percentage of change should not be used unilaterally as prices vary from area to area. Consumers wishing an accurate estimate of value for their home should contact a REALTOR® member to do a comparative market analysis.

Year to date REALTORS® have sold $833,335,308.00 of real estate down 2% from 2009 when year to date $848,096,579.00 of real estate had sold. Listing numbers are up 15% from September 2009 with 594 properties being listed in September. Year to date the listings taken number is up by 3% with 5,626 properties being placed on the market. Home buyers had 1,304 homes to select from at the end of September.

The market softened somewhat in communities around the city. Unit sales in e.g. Martensville, Warman, Clavet and Dundurn had 79 sales take place down 34% from September 2009 when 119 homes were sold. The average selling price for September in these communities was $249,825.00 that number down 8% from September 2009 when the average was $271,401.00. Listing numbers were down slightly in the month of September with 272 properties being placed on the market down 7% from September 2009 when 294 homes were placed on the market for sale.

Consumers continue to express their confidence in the local economy as evidenced by their buying patterns. Employment numbers continue to increase. New home construction is doing well, retail sales are strong and when coupled with low interest rates conditions are favourable for a sustainable market environment. Sales and listing activity is expected to remain similar throughout the fourth quarter.

Saskatoon Region Association of REALTORS®

Protecting Your Privacy While Your Home is on the Market

Numerous people are likely going to spend a considerable amount of time browsing through your home while it is on the market. If you are living in the home while it is for sale, your personal things will be on show too and potential buyers might look through drawers and other items that are inside your home. Your privacy and security may become an issue when showing your home, so it is important to consider all your options before you welcome someone into your home.

For many individuals, it is very important for them to protect their privacy, while others are simply concerned that buyers will make assumptions about them and judge them instead of simply judging their home. However, the importance of protecting your privacy is all the same and that goes for anything personal from financial information, such as cheque books to bank statements and personal letters.

Protect your documents
Keep in mind that a potential buyer may open cabinets or drawers-this is not considered snooping. Buyers can innocently tug on a drawer to inspect its construction or depth and find important documents that you might not intend for anyone to see.

Don't leave mail where anybody can find it
Many sellers make the mistake of leaving piles of opened mail neatly stacked on the kitchen counter or somewhere else in the home. By leaving your correspondence out on the table, a potential buyer can find out about your credit card debt, whether you have filed for bankruptcy and other private information that you probably don't want the seller to be aware of. Not only is this an invasion of your privacy, it can also change the offers that you receive from buyers. If you have a stack of mail from a collection agency, the buyer will know you are desperate to make a sale and will likely propose far under the list price.

Remove personal effects from your walls
From diplomas and religious artifacts to wedding certificates and personal photos, don't provide buyers with any personal information about yourself or your family. De-personalizing is also an important move to make when staging your home for sale anyway, so you can actually accomplish two things by removing the personal effects from your home.

Don't leave your computer up and running during showings
Gaining personal information from your computer takes only minutes for a professional hacker or thief, so be proactive and turn your computer off before potential buyers arrive.

Before you put your home on the market, empty out drawers, stage closets and pack up anything personal including medications. Disassociate yourself with your home-remind yourself that it is a house-a product to be sold on an open market that is bound to see plenty of new faces throughout the term of the selling process.

Consider renting a locker at your local bank and store away your jewelry and other valuable items. It is better to be safe than sorry.

Condo Living - A one Bedroom Condominium Opens Doors to Creativity

In her new one-bedroom loft in the lakeshore neighbourhood, Sarah enjoys a stunning city view. By focusing on what she was creating in her new space instead of what she was giving up, she was not only able to simplify her lifestyle but found new ways to use some of her most prized possessions.

Less square footage doesn't necessarily equate to less living. Sarah said while entertaining a small group of friends in here stunning city view location within walking distance of her workplace and health club in downtown neighbourhood.

Sarah's new space fits her tastes and lifestyle, having lived with her husband Jim and there two children for over 22 years, she realized that she was a slave to her house. "My two kids had moved out, and the idea of using only two rooms (the bedroom and kitchen) out of six, didn't make any sense. So with some anxiety, we decided to downsize. I joked with my husband that we would have to give up a lot if we moved into a condominium. What we gave up was flights of stairs, shovelling snow, putting out the garbage, raking leaves, cleaning out the eaves troughs, maintaining the furnace, and landscaping to name a few!" Sarah Said.

"Downsizing is about committing to change as much as it is about deciding where to put the furniture. Instead of dwelling on the negative and what you're leaving behind, think about what the positives are; a smaller space often takes less maintenance, leaving more time for hobbies" she adds.

While moving to her new place, Sarah had to give up many of her possessions, yet by focusing on what she was creating instead of what she was giving up, she was not only able to simplify her lifestyle but found new ways to use some of her most prized possessions.

Condos life has many advantages, because the space is smaller, you may be able to spend more on the quality of live and details. For example, you may be able to afford Italian marble for your kitchen counters because there's less counter space.

As a busy downtown Realtor, Sarah says most of her downsizing clients have decent equity in their existing homes and are moving into the city because they want a lifestyle change. Although they are willing to give up square footage, they still want amenities such as fitness facilities, kitchens with granite counters as well as stainless appliances and spacious master suites.

Condos offer more opportunities to socialize; you will meet neighbours in the halls, the lobby and the laundry room. You will also have the opportunity to meet (and argue!) with them at your association's monthly board meetings. Condo living is a good choice for low-key, sociable types who enjoy getting to know other residents. When buying a condo, keep in mind that happy neighbours are a sign of a responsive, well managed building.

Most condos are equipped with security doors and intercom systems. Many also offer alarms, security cameras, and 24 hour doormen and lots of neighbours. Security conscious buyers and extensive travelers can rest assured that their homes will be watched and maintained while they are away.

A private, waterfront lot with magnificent views is way out of reach for most buyers; Condos ownership makes this attainable for most buyers. With access to luxury, high-end locations such as city center, waterfront, or art-district, is one of biggest perks that condos offer over single family homes.

"Now that I'm a happy condo owner I've discovered that my downsized lifestyle offers many upsides. My husband and I are having the time of our lives. We have adopted an active lifestyle, with long walks on nature trails and short hops to local attractions by public transport. We now take in live theatre, music, and ballet. We try out new restaurants and get "recharged" by the breathtaking beauty of the waterfront" Sarah Said.

On average, condos are much more affordable than houses, making them an excellent fit for individuals who want to lower or limit their housing costs. Clearly condos are the economical choice for retirees hoping to downsize, or first time homebuyers trying to enter high-end markets.

From Saskatoon Region Association of REALTORS® Inc

Residential Home Sales Soften in the Month of July

Home buying activity was down slightly in the month of July with 357 homes selling down 18% from July 2009 when 438 homes were sold. Year to date unit sale numbers are down 4% with 2,217 homes having sold as compared to 2,304 selling in 2009 at this time of year. The majority of the sales activity remained in the $300,000.00 to $350,000.00 price range.

The average selling price remained strong at $289,715.00 up 2% from July 2009 when the average was $283,531.00. Year to date the average selling price is $290,515.00 up 5% from 2009 when the average year to date number was $277,490.00. The higher average selling price indicates continued strength in the mid price range homes. In July it took 39 days on average to sell a home.

The average residential price is derived by taking the month's dollar volume of homes sold and dividing that number by the unit sales number. The percentage of change should not be used unilaterally as prices vary from area to area. Consumers wishing an accurate estimate of value for their home should contact a REALTOR® member to do a comparative market analysis.

Home buyers had 1,334 properties to select from at the end of July. Inventory levels decreased from the month of June when 1412 homes were on the market. Listing inventory continues to balance with REALTORS® listing 550 properties in the month of July that number down 7% from July 2009 when 594 homes were placed on the market for sale. Year to date listing numbers are on par with 2009 with 4,389 having been listed for sale.

Similar sales and listing activity was seen in the areas around Saskatoon e.g. Martensville, Warman, Clavet and Dundurn. Unit sales softened with 71 properties selling down 34% from July 2009 when 108 properties sold. The average price increased to $284,158.00 up 12% from July 2009 when the average selling price was $254,123.00. Listing numbers were down 15% with 230 properties being placed on the market. Year to date 1,643 have been placed on the market.

Market demand remains steady, interest rates are favorable and job growth continues. Similar market conditions are expected for the remainder of the summer.

Saskatoon Region Association of REALTORS® Inc

1149-8th Street East, Saskatoon, Sk S7H 0S3 TEL: (306) 244-4453 FAX: (306) 343-1420 www.srar.ca info@srar.ca Mission: "To Support our Members Professional Success, Career Development and Quality of Life"

Trademarks are owned or controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA (REALTORS®) and/or the quality of services they provide (MLS®). Used under license