Henry Moulin ABR, CRES

Saskatoon, SK | 306-221-9221 | henry@saskatoonrealestate.com

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Sales rise 16 per cent from same month of last year


Saskatoon — A hot, dry May brought a warmer market for Saskatoon home sellers, as sales rose 16 per cent over the same month of 2018.

City sales came in at 422 units, up from 363 last May and 420 the year before, the Saskatoon Region Association of REALTORS® (SRAR) reported Monday. Sales are also up 10 per cent year-to-date at 1,469, up from 1,342 and 1,450 in the last two years.


“Sales have rebounded significantly this year, in large part due to an increase in condosales,” said Jason Yochim, CEO of SRAR. “Condo sales are up almost 21 per cent over
a year ago. Prices have been coming down, and they are very affordable compared to most housing types.”

Year-to-date, 449 condos have sold, as compared to 372 last year. Over the same period, single family home sales rose six per cent to 1,292, up from 1,215 last year. In May, single family home sales were up 13 per cent from last May.


As sales rose, unit listings fell three per cent to 911 in May, down from 942 in 2018 and 1,031 the previous year. Year-to-date listings are also down three per cent; so far, 3,422 homes have been listed to the Multiple Listing Service (MLS) as compared to 3,536 last year and 4,055 in 2017.


The higher sales resulted in a 17 per cent dollar volume increase over last May to $140.7 million, up from $120.5 million. That’s despite a two per cent drop in the aver- age selling price, which fell to $329,595 from $334,651.

“I suspect first-time home buyers have been very active this spring based on the con- do sales,” Yochim said. “When lower-priced homes sell, it has a downward effect on the average price.”


In Saskatoon and region, including communities such as Warman, Martensville and Dalmeny, sales rose 14 per cent in May to a three-year high of 561 units. Listings fell seven per cent to 1,386, down from 1,485 and 1,553 in the previous two years. Dollar volume rose 12 per cent to $181.3 million from $162.3 million last year. Yochim said, “The sales to listing ratio was 46 per cent in May, which is approaching a balanced market.”


In the surrounding region excluding the city, dollar volume was down 13 per cent to $31.5 million from $36.3 million. Listings fell 20 per cent to 317, after two years at about 390, and sales rose eight per cent to 113, up from 105 last May. The average selling price fell 19 per cent, however, to $279,095, after posting $346,130 last May.

Year-to-date, the surrounding region has seen a three per cent decrease in dollar vol- ume at $120 million; a three per cent drop in listings, to 1,344; and unit sales of 421, up nine per cent from last year.


As of the end of May, buyers had 3,164 listings to choose from in Saskatoon and area, unchanged from last year. Of those, 1,938 are in the city proper (down from 2,001 last May) and 1,126 are in surrounding towns and regions (down from last year’s 1,164).“We’re finally seeing some stabilization in the housing market, which has been in buyers’ market territory for some time due to oversupply and lower consumer confidence,”


 
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April house sales jump 18 per cent in Saskatoon regio

April housing demand in the Saskatoon region was the strongest in three years, as sales jumped 18 per cent over the same month of 2018.


The Saskatoon Region Association of REALTORS® (SRAR) reported 513 sales on the MLS® system, up from 433 last April and 414 in 2017. Those sales generated a dollar volume of $169.6 million, up 12 per cent from last year’s $152 million and 14 per cent from $147 million in 2017.


Year-to-date, sales are up seven per cent to 1,440, as compared to 1,342 in 2018 and 1,368 in 2017. Dollar volume is up three per cent to $460.2 million from last year’s $447.8 million. The spring market usually brings an increase in listings, and April followed that tradition. Listings rose four per cent to 1,295, although year-to-date listings are down slightly to 3,971 from 3,989.


Compared to the 4,475 properties posted in the first four months of 2017, however, listings are down significantly.

“People came out of hibernation and said, it’s time,” said Jason Yochim, CEO of SRAR. “We’re seeing the beginning of a spring market, which is nice.”


Other factors potentially influencing the market include stable interest rates and lower prices, he added.

“There’s less inventory and people are buying what they’re finding on the market,” Yochim said. “It’s feeling more like it’s time to make that move.”


In the city of Saskatoon, the number of properties brought to market actually fell two per cent in April to 774, down from 787 last year and significantly down from the 842 listed in April, 2017.

Year-to-date, 2,511 homes have been listed, down three per cent from 2,594 in the same period of 2018. Listings in 2017 were considerably higher, at 3,024.

April sales in the city proper came in at 380, up 14 per cent from last year’s 333 and generating a 16 per cent increase in the dollar volume, to $130.4 million. That figure is up from both 2018 and 2017, when $112.7 million and $113.6 million in sales were recorded, respectively.


So far this year, Saskatoon sales are up seven per cent to 1,047, up from 978 in 2018.

The average selling price in the city increased one per cent to $343,121 in April, up from $338,438 last year. Year-to-date, the price remains down by two per cent at $327,995.


The region surrounding Saskatoon, including towns and cities such as Warman, Martensville and Dalmeny, saw a whopping 25 per cent increase in dollar volume to $31 million on 105 sales, up 36 per cent from 77 last year. The average price was down eight per cent to $295,780.

Active listings in Saskatoon as of April 30 were down three per cent to 1,778 from 1,834 last year, and up four per cent in the region, to 1,083.


Stronger sales activity was reflected in Saskatoon’s sales to listing ratio, which at 49 per cent is considered a balanced market.

“It’s an encouraging sign,” said Yochim. “A balanced market offers a good equilibrium, with a good balance of buyers and product from sellers. Depending on how long it lasts, it helps slow the decline in pricing.”

New housing starts are down considerably, which is also affecting the market. March, for example, saw a 33 per cent drop in single family home starts and a 70 per cent fall in multiple units. It will take some time before the rising demand spurs more building, because there is always a lag between an improvement in sales and starts, Yochim said.

Prince Albert and region also recorded improved home sales, which rose 25 per cent to 60 units, up from 48 last year. Dollar volume jumped 26 per cent to $12.2 million from $9.7 million last April. Listings were up a marginal two per cent, to 168 from 165. In the city itself, sales were up 41 per cent to 38.

“That’s encouraging for P.A., because the market was quite depressed for a number of months,” Yochim said.

Activity was less robust in the Battlefords region. Sales rose 17 per cent in April to 35, up from 30 last April, but dollar volume dropped 35 per cent to $5 million from $8 million. Listings, however, fell seven per cent to 138.

Every market, including the strengthening Saskatoon market, comes with its own challenges for buyers and sellers, noted Yochim.

“If you want to know how the recent changes in the market affect your individual home and needs, it’s best to contact a SRAR member. They have the knowledge, experience and objectivity to help you make good decisions about your personal circumstances.”

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Month of March - Springing Up

After a fairly strong February, the city of Saskatoon’s March housing market had spring in its step as both new listings and sales rose over last year, by five and 11 per cent respectively.

The Saskatoon Region Association of REALTORS® (SRAR) reported 702 listings were posted to the Multiple Listing Service® (MLS®), up from 668 last March, but significantly down from 850 in 2017.

Sales jumped 11 per cent to 258, up from 233 last year but down from 308 in March 2017. At the same time, the average selling price dropped four per cent to $316,445, down from just over $328,000 a year earlier, partly due to a higher proportion of entry-level home sales below $400,000. There was also a significant decrease in the number of sales recorded between $400,000 and $450,000.  Even so, the dollar volume of homes sold increased seven per cent to just over $81.6 million, up from $76.5 million a year earlier.
 
“We’re coming into the spring market, and the degradation of prices over the last three year has made it a little more attractive out there. People do get a little bit more optimistic in the spring,” said Jason Yochim, CEO of SRAR.

“Some of that optimism may have sprung from the federal government’s recent policy announcement regarding changes to home buyers’ plan, which provides a five per cent interest-free loan on existing homes, and 10 per cent on new homes, to first-time buyers. Our industry has been lobbying for changes such as this for a long time.”
 
The Saskatoon Region, which includes smaller communities in the Census Metropolitan Area, saw a five per cent increase in listings, to 1,084 (up from 1,034 in 2017) and a four per cent increase in monthly sales, to 359 (up from 345). Listings generally begin to trend upward as March, and spring, approach.
 
Excluding Saskatoon, regional listings were flat with last March and sales fell nine per cent to 77, down from 85. The selling price dropped 12 per cent to $275,000. In 2019 so far, Saskatoon and region listings, taken together, are down two per cent to 2,675, 1,736 of those in the city proper. Sales are up two per cent to 929, up from 909 in 2018, and dollar volume has fallen one per cent to $213 million, down from $215.5 million. Active listings sat at 3,184 at the end of March, down one per cent, with 1,611 of those in Saskatoon, down four per cent.

While the 2019 market has been kinder to home sellers than in the last three years, it remains important to price properties appropriately to present conditions, said Yochim. The sales to listings ratio was 37 per cent in March, which still signifies a buyers’ market.
 
“Home sellers, not to mention buyers, can benefit from the knowledge a REALTOR® brings to a housing transaction. REALTORS® know how to help a seller arrive at a realistic price, and they are also professionals who subscribe to a strict code of ethics. They can guide sellers, and buyers, through the process, and help them make the best decisions.”
 
OTHER REGIONS
 
The spring market has had a slower start in Prince Albert and region, where listings rose four per cent to 128 (from 123 last March) and sales fell 10 per cent to 38, down from 42.  Dollar volume was down 29 per cent to $6.7 million, from $9.5 million in the same month of 2018. However, the statistics tend to appear more dramatic to the smaller size of the market.
 
It was a similar story in The Battlefords region, where listings rose five per cent to 120 units, up from 114 a year ago, and sales fell three per cent to 32. However, that was a drop of just one unit from last year’s 33 sales.  Dollar volume fell 37 per cent to $4.5 million from just over $7 million. The region did, however, see an increase in the average price of four per cent to $188,000. Dollar volume was down 22 per cent to $4.5 million.

“The market is considerably more challenged in smaller cities. Saskatoon hasn’t been affected as much on sales activity because of our diversified economy.”

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February listings drop, sales rise in Saskatoon region

Despite the very cold temperatures in February, Saskatoon and region home sellers found a little warmth as new listings dropped seven per cent and sales rose six per cent. The Saskatoon Region Association of REALTORS® (SRAR) reported 731 homes were listed, down from 783 in the same month of last year, while sales rose to 296 from 280. The dollar volume of homes sold through the Multiple Listing Service (MLS®) rose four per cent, to $95.8 million from $92.4 million. Year to date, listings dropped seven per cent to 1,591, sales were up one per cent to 570, and the dollar volume was down a marginal one per cent to $180.8 million.


Excluding the region, new Saskatoon listings were down 8.6 per cent in February to 478 — the fewest since 2013 — while sales held steady with last year, rising by one to 211. Months of inventory dropped to 6.7 from 7.5 last February. City homes listed to date in 2019, at 1,033, are at their lowest level in nine years. February statistics indicate a change in a market that has been declining for four years. “Sales have stabilized somewhat, and inventory levels are coming down,” said Jason Yochim, CEO of SRAR. “As an optimist, I believe and hope it will continue. However, people have to be confident that the economy is improving before committing to the purchase of a home.”


He noted that while some sectors of the economy, such as potash mining, are doing well, others are less robust.

“It’s not that people aren’t working; they are. But they won’t upgrade unless they have confidence in their situations.”

The average price in Saskatoon also recovered slightly to $338,268, up 2.3 per cent from last February. Yochim cautioned that average prices can be misleading, because the basket of sales in any given month can be very different from another. For example, if two or three high-priced homes sell, that can significantly skew the average.

A better gauge, said Yochim, is the Home Price Index (HPI), which tracks prices over time based on a benchmark determined 15 years ago.


Saskatoon’s overall HPI, including apartment-style condos, was $282,600 last month, down three per cent from last year. The most expensive category, two-storey single-family homes, was down one per cent at $356,000.

Saskatoon remains a buyers’ market, with a sales-to-listing ratio of 44; but the ratio has risen from 34 in January, for a year-to-date ratio of 40. A ratio of 50 is a balanced market, while a ratio of 60 denotes a sellers’ market.

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YTD Home Sales Down 5%

December residential home sales on the Multiple Listing Service® system (MLS® System) in Saskatoon totaled 164 transactions, 20% fewer than December of 2017 which recorded 205 residential sales. The region surrounding Saskatoon had 43 MLS® sales in December of 2018, only one less than the previous December. The total annual number of residential home sales for 2018 in Saskatoon totaled 3,329 units. This is a 5% decline compared to the total number of home transactions for 2017. This represents the fourth straight year of a decline in annual home sales in Saskatoon. By comparison there were 4,417 MLS® sales in 2014, an overall reduction of almost 25%. There was no change in the total annual sales for the surrounding region with 986 residential MLS® transactions.

The total dollar volume recorded for residential MLS® sales in Saskatoon in December was $55.6 Million, down 20% from December 2017. The total dollar volume for the entire year reached $1.108 Billion, 8% lower than 2017. The combined dollar volume for Saskatoon and region for last year was down 4% from 2017 at $1.524 Billion.

Residential MLS® listing totals for the year continued to be lower than previous years. A total of 7,956 residential listings were recorded for Saskatoon on the MLS® System in 2018. This is an 11% reduction from 2017’s total of 8,969, representing over 1,000 fewer new listings. The five-year average for new listings in a calendar year in Saskatoon is 9,081. “Even though overall sales are down, fewer new listings has helped contribute to fewer properties available to buyers in the Saskatoon market.” comments Jason Yochim, CEO of the Saskatoon Region Association of REALTORS® (SRAR). The total number of active listings at the end of the year was 1,487, consistent with the five-year average of 1,480 available properties. The highest level of active properties was in July of 2017 when there were 2,210 active listings in the city of Saskatoon “Available properties will vary depending on neighborhood, price range and style.” cautions Yochim “some price ranges with still have a good supply to choose from while others will not. It’s important to remember that REALTORS® have the greatest access to available property” he adds. REALTORS® work in the market every day, subscribe to a strict code of ethics and are dedicated to developing professional standards and continuing education in the real estate profession. This is not the case for those who sell real estate in the province and who are not members of an association of REALTORS®. 

When it comes to home price trends, the best indicator of what is happening with home prices is the Home Price Index. The Home Price Index establishes attributes for a typical single-family home with a base value in 2005. From that starting point, changes in value are recorded over time to get a better sense of what is happening to pricing and where prices may be trending. The value for the typical single-family home in January of 2005 was $140,400. This value reached its peak in May of 2015 at $329,500. At the end of December, this value is at $307,000, down from $310,900 in November. This value is virtually unchanged from a year ago, however, it has been trending downward since the middle of 2018. For more information on HPI go to contact a member of the SRAR or visit saskatoonrealtors.ca .

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Home Sales Soften in November

The total number of residential home sales for the month of November in Saskatoon on the Multiple Listing Service (MLS®) totaled 203 units. This represents a 22% decline compared to the same month last year. The highest total for sales to the end of November was in 2014 reaching 4,203 transactions. This total has been steadily declining since with year to date sales at the lowest in ten years. At the end of last month there was a total of 3,167 residential MLS® transactions in the city, this is a 25% decline from the high of 2014. 


Total new residential MLS® listings has also been declining since 2015 when there were 9,411 by the end of November. The total number of residential MLS® listings for Saskatoon as of November 30thwas 7,646, a 12% decline compared to last year and a 19% decrease from 2015.  Total active residential listings at the end of last month was 1,716, comparable to the five-year average and slightly higher than the 10-year average of 1,388. At the current rate of sales, it would take just over 8 months to liquidate the current active listing inventory. “The months of inventory has been steadily increasing from 3.8 months in November of 2012.” comments Jason Yochim, CEO of the Saskatoon Region Association of REALTORS® (SRAR). “Even though homes in November were selling at 96.2% of the asking price, it still took two months for the average home to sell in Saskatoon” he added. The sales to new listing ratio helps to determine if it is a sellers or buyers’ market. It is considered to be a balanced market when the ratio is at 50%, a lower percentage than this is considered a buyers’ market and above, a sellers’ market. The sales to listing ratio in Saskatoon for November was 38%, favoring buyers. 


Typically, when referencing home prices, the focus in real estate is often on the average price. The danger in this is that the average can be misleading and is easily skewed. Case in point, if there are more, higher priced homes that sell in a certain period than another comparable period, the average will be higher. The opposite could occur the following month resulting in a lower average. A better indicator of what is happening with home prices is the Home Price Index. The Home Price Index establishes attributes for a typical single-family home with a base value in 2005. From that starting point, changes in value are recorded over time to get a better sense of what is happening to pricing and where prices may be trending. The value for the typical single-family home in January of 2005 was $140,400. This value reached its peak in May of 2015 at $329,500. Currently this value is at $310,900. Even though this is up 0.8% from a year ago, it has been trending downward in the past 6 months very slightly. For more information on HPI go to contact a member of the SRAR or visit saskatoonrealtors.ca 

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Number of Listings Declining

The total number of new residential listings in Saskatoon on the Multiple Listing Service (MLS®) year to date totaled 7,111. This represents a 12% decline when compared to the same period last year with 8,065 properties listed. The total number of residential listings for Saskatoon and region year to date is 10,929, a 10% decline from last year. The individual month end totals for new listings in 2018 was down each month as well compared to 2017 totals. This decline in new listings has contributed to lower inventory levels for available properties in Saskatoon. At the end of October there was a total of 1,808 active residential properties for sale in Saskatoon and 1,095 in the regional market surrounding Saskatoon. The five-year average for active listings in Saskatoon is 1,806 while the ten-year average is 1,487. “Since 215, the Saskatoon market has experienced higher inventories of active listings, this puts downward pressure on pricing and often upward pressure on the sales to new listing ratio.”  comments Jason Yochim, CEO of the Saskatoon Region Association of REALTORS®. The median price of a home in Saskatoon has declined as well since 2015 as has the average price. The average residential price was $332,000 at the end of October, down 4% from a year ago and $20,000 from two years ago. Although much focus in real estate is on the average price, the average can be misleading and is easily skewed. A better indicator of what is happening with home prices is the Home Price Index. The Home Price Index establishes attributes for a typical single-family home with a base value in 2005. From that starting point, changes in value are recorded over time to get a better sense of what is happening to pricing and where prices are trending. The value for the typical single-family home in January of 2005 was $140,400. This value reached its peak in May of 2015 at $329,500. Currently this value is at $312,600 virtually unchanged from a month earlier. The Benchmark price for a typical Townhouse style property in Saskatoon was $222,900 last month, for apartment style properties, $180,100 in October. For more information on HPI go to saskatoonrealtors.ca.


Year to date, the total number of residential sales on the MLS® system in Saskatoon was 2,964, down 2% from last year. For Saskatoon and region the total number of sales was 4,074, a 1% decline from 2017. Total MLS® sales of 285 in Saskatoon for October was unchanged from the same month last year and but down 9% from October 2016. “It s encouraging to see home sales at a comparable level to last year in spite of economic challenges and the “stress test” changes to financing earlier this year.” Comments Jason Yochim, CEO with the Saskatoon Region Association of REALTORS®. “It would seem that sellers are recognizing the importance of expert advice from our REALTOR® members in pricing to the current market.” he adds.

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Average Home Sale Price Declining

Year to date the average price of $332,700 for a home in Saskatoon represents a decline of 4% from a year ago. By comparison in the past three years, the third quarter average price was $347,165 in 2017 and $352,103 in 2016. Although much focus in real estate is on the average price, the average can be misleading and is easily skewed. A better indicator of what is happening with home prices is the Home Price Index. The Home Price Index establishes attributes for a typical single family home with a base value in 2005. From that starting point, changes in value are recorded over time to get a better sense of what is happening to pricing and where prices are trending. The value for the typical single family home in January of 2005 was $140,400. This value reached its peak in May of 2015 at $329,500. Currently this value is at $312,200 which is the highest level for 2018 and is virtually unchanged from a month earlier. The Benchmark price for a typical Townhouse style property in Saskatoon was $219,700 last month, this is the lowest point since April of 2007 when the value was $205,300. For apartment style properties, the Benchmark value of $176,200 in September was the first increase since December of 2007 when the value was at $190,600. For more information on HPI go to saskatoonrealtors.ca 


Active listings in Saskatoon continued to shrink with year over year decline of 7%. In Saskatoon at the end of September there were 1,944 active listings compared to 2,082 a year ago. Active listings are higher in the region surrounding the city which includes the cities of Martensville and Warman. At the end of September there were 1,161 available properties compared to 1,086 for the surrounding area. The decline in available properties is mostly attributable to an overall decline in new listings coming on the market. Year to date, there were 6,521 properties listed in the city of Saskatoon, a decline of 11% compared to 2017. In the month of September, there were 648 new listings in Saskatoon. By comparison in September of 2017 there were 767 new listings and 779 in 2016. “It seems that sellers who are not highly motivated are choosing to wait until conditions are more favourable to sell.” Comments Jason Yochim, CEO with the Saskatoon Region Association of REALTORS®. “Currently we are in a buyers market with elevated levels of inventory and downward trending prices for most properties.” He adds.


In the month of September there were 268 residential sales on the MLS®. This is similar to September of 2017. The total number of sales for the first three quarters of 2018 was 2,679, a 5% decline from last year. By comparison, in the first three months of 2016, there were 2,935 sales in the city of Saskatoon.

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Active Listings Continue Decline


For the seventh straight month this year, the number of active listings in the market was down year over year. At the end of August there were 2,019 active residential listings in the city of Saskatoon, a decline of 8% from a year ago. Of the active listings, approximately 1,227 are single family while just over 780 fall under condominium ownership. The decline in active listings is largely due to a decline in homes listed year over year. To date, a total of 5,875 residential properties have been listed in Saskatoon on the Multiple Listing Service® (MLS®), down 11% compared to the end of August last year. “In a slower market, one typically sees fewer speculative sellers than in a hot market” comments Jason Yochim, CEO with the Saskatoon Region Association of REALTORS® “It’s important to bear in mind that homes sell in all markets. If a seller needs to sell then they must be sure to have good advice and price to the current market conditions.” adds Yochim.

In the month of August there were 329 residential sales on the MLS®. This is on par with August of 2018 and just lightly below the five year average of 352 sales for August. Year to date there have been 2,411 residential MLS® sales in Saskatoon, of these 1,751 are single family properties, unchanged compared to the first eight months of last year. On the other hand, there were 648 condominium at the end of last month, 11% fewer than last year.

Year to date residential MLS® sales between $200 - 300,000 totaled 657 transactions, down from 707 a year ago. The number of homes that sold between $350-750,000 on the MLS® year to date was also down by just over 100 sales from 1,036 transactions in 2017. So far in 2018, a total of 41 properties have sold in excess of $750,000 in Saskatoon, on par with last year.

The Home Price Index (HPI) Value for single family residential home sales in Saskatoon increased slightly from July to $312,200. The HPI measures the change in value over time for a typical single family home with a standard set of attributes. This rate of change reports similar to the Consumer Price Index and is the most accurate indicator of home pricing. The HPI value for townhouse style residences declined for the month to $225,200, down from $234,400 in July. Benchmark pricing for apartment Style condominiums continue to decline for the eighth straight month. For more information on HPI go to saskatoonrealtors.ca . Year-to-date, the average sale price was $334,226, a 4% decrease from the same period last year. Average prices can be misleading as outlier sales can skew the average sale value one way or the other over a short period of time. This is why the median price of HPI value is a better indicator of the market.

Last month, the average home in Saskatoon took 52 days to sell in Saskatoon. The five year average for days to sell in the month of July is 50.4 days.

REALTORS® subscribe to a strict code of ethics and are dedicated to developing professional standards and continuing education in the real estate profession. This is not the case for those who sell real estate in the province and who are not members of an association of REALTORS®.

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Friday, August 31st, 2018

1st Annual Oskana Cup Tournament

Dakota Dunes Golf Links – 202 Dakota Dunes Way

Time: 10:00 am – 5:30 pm

Website: dakotadunes.ca


Breathe-911 Ryde

River Landing East – Spadina Cres E

Time: 7:30 pm

Price: Free

Website: lung.sk.ca


SIGA’s 2nd Annual Charity Pancake Breakfast

Corner of Joseph Okemasis Dr & 105 St E

Time: 7:30 – 9:30 am

Price: $5.00 per plate

Website: siga.sk.ca


Saturday, September 1st, 2018

Mick Poley: 20 Years of Hell

Broadway Theatre – 715 Broadway Ave

Time: 8:00 pm

Website: broadwaytheatre.ca


Ongoing

August 31st – September 1st, 2018

Nutrien Fireworks Festival

River Landing and Friendship Park

Time: 5:00 – 10:00 pm

Website: nutrienfireworksfestival.ca/


August 18th – October 28th, 2018

Corn Maze Fun – Viva Italia!

Saskatoon Italian Cultural & Recreational Centre – Corner of Cedar Villa Road & Hwy 7

Time: 1:00 – 8:00 pm

Website: www.saskatoonicc.com


September 1st – 7th, 2018

Le Burger Week Saskatoon

Various Restaurants in Saskatoon

Website: leburgerweek.com


August 16th – September 20th, 2018

Sisters United: Women’s Suffrage in Saskatchewan

Western Development Museum – 2610 Lorne Ave

Time: 9:00 am – 5:00 pm

Website: wdm.ca/stoon/exhibits_temp.html


August 7th - September 16th, 2018

SRHBA Parade of Homes

Time: Mon – Thurs 7 – 9 pm, Sat & Sun 2 – 5pm

Price: Free

Website: paradeofhomesonline.ca


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Increase in July Home Sales 

The month of July saw a significant increase of over 25% in the year-over-year Multiple Listing Service® (MLS®) sales activity with a total of 390 unit sales in the month. This compares with 310 transactions in July of 2017. Total MLS® transactions for Saskatoon year to date was down 3.3% with 2,082 home sales compared to 2,152 to the end of July 2017. 


“Although one month does not constitute a trend, it is very encouraging to see such a significant increase in activity during a month when many buyers typically leave town on vacation” comments Jason Yochim, CEO with the Saskatoon Region Association of REALTORS®. Other positive indicators are a decline in the number of new MLS® listings coming on to the market. 


A total of 710 new MLS® listings in July represented a decrease of 10% over last year and well below the five year average of 830 listings. Fewer new listings combined with an increase in sales reduced the number of active listings from 2,109 in June to 2,048 at the end of July. The five year average for active MLS® listings is 1,977 units. “Lower inventory levels will help move the market from a buyer’s market towards balance and stabilize home prices.” adds Yochim.

MLS® sales below $200,000 totaled 57 transactions in July, 55% higher than July of 2017, while year to date sales increased by 26% with 307 transactions. Homes that sold between $300-400,000 on the MLS® in July showed an increase of 27% over the previous July while year to date the number of sales in this price range totaled 1,229, a decline of 5%. Home sales in excess of $400,000 totaled 540 transactions year to date, a decline of 12% over the previous year.

The Home Price Index (HPI) Value for single family residential home sales in Saskatoon took a slight decrease in July of 0.1% to $315,400 compared to $315,800 at the end of June. The HPI measures the change in value over time for a typical single family home with a standard set of attributes. This rate of change reports similar to the Consumer Price Index and is the most accurate indicator of home pricing.


The HPI value for townhouse style residences continued on its upward trend, increasing by 1.2% for the month to $234,400. For more information on HPI go to saskatoonrealtors.ca . Year-to-date, the average sale price was $334,676, a 4.1% decrease from the same period last year. Average prices can be misleading as outlier sales can skew the average sale value one way or the other over a short period of time. This is why the median price of HPI value is a better indicator of the market.

Last month, the average home in Saskatoon took 49 days to sell in Saskatoon last month. The five year average for days to sell in the month of July is 48 days.
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Friday, July 20th 2018

Chester Bennington Memorial

River Landing Amphitheatre 0 414 Spadina Cres E

Time: 7:00 – 9:00 pm


Saturday, July 21st, 2018

1st Annual Bunnock Tournament

UMEA Sports Fields (Behind Lawson Heights Mall)

Time: 10:00 am

Price: $100/Team (Mixed Teams of 4)

Website: https://www.picatic.com/event15245223029816

Ongoing

July 17th – 22nd, 2018

Taste of Saskatchewan

Kiwanis Park – 601 Spadina Cres E

Website: www.tasteofsaskatchewan.ca


July 21st – 22nd, 2018

FIBA 3X3 World Tour Masters

4th Ave & 21st St

Time: 12.00 pm

Price: Free

Website: www.fiba.basketball/3x3worldtour/2018


July 19th – 22nd, 2018

Ness Creek Music Festival

20 kms North East of Big River, SK

Website: nesscreekmusicfestival.com


July 4th – August 19th, 2018

Shakespeare on the Saskatchewan

Big White Tents off Spadina Crescent

Website: www.shakespearesask.com/


July 20th – 22nd, 2018

2018 Saskatchewan Woodturners Symposium

Persephone Theatre – 100 Spadina Cres E

Website: newsite.hubcityturners.ca/events/turning-symposia-2014-2016/symposium-2018/


July 15th – 22nd, 2018

Canadian Rugby Championship

Saskatoon Rugby Fields – 134 English Cres

Time: All Day

Price: $5.00 per day/ $20.00 Full event pass

Website: https://rugby.ca/en/news/2018/04/saskatoon-to-host-2018-senior-women-age-grade-canadian-rugby-championships-in-july


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Mark your calendar's and get ready to eat! The Taste of Saskatchewan is exactly one week from today! Make sure to come on down to Kiwanis Park in Downtown Saskatoon to enjoy amazing food, drinks and music from noon to night from July 17th - 22nd, 2018.


Click here for the Website.


Click here to check out what is on this years menu.


Click here to jot down what time you need to be there to listen to your favorite music.

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Residential Dollar Volume Continues to Decline

At the midway point of the year, the total dollar volume for residential MLS® sales in Saskatoon sits at $565,435,958. This is down 12% from last year and represents the lowest volume in ten years. In June of 2007 the total dollar volume for residential MLS® sales was $550,023,364. “This is a reflection of a decrease in sales volume coupled with a decrease in pricing” according to Jason Yochim, CEO with the Saskatoon Region Association of REALTORS®. Year-to-date residential MLS® sales of 1,693 homes is down 8%. Last month there were 350 MLS® home sales, an 11% decline from last June and the lowest number for June in 10 years. The median home sale price of $316,500 is at its lowest point this year, down from $330,000 in January. The Home Price Index (HPI) Value for single family residential home sales in Saskatoon continued its slow but steady increase from February and was at $315,800 at the end of June. The HPI Value for single family residential reached its highest level in May of 2015 at $331,800. The HPI measures the change in value over time for a typical single family home with a standard set of attributes. This rate of change reports similar to the Consumer Price Index and is the most accurate indicator of home pricing. The HPI value for apartment style residences has been on a steady decline since January but appears to have levelled out at $179,100. HPI value for townhouse style residences has been trending up sharply since March and was at $231,600. For more information on HPI go to saskatoonrealtors.ca .

Year-to-date, the average sale price was $333,985, a 5% decrease from the same period last year. The highest average residential sale price for June was in 2015 at $361,719. Average prices can be misleading as outlier sales can skew the average sale value one way or the other over a short period of time. This is why the median price of HPI value is a better indicator of the market.

Inventory levels continue to be elevated with 2,109 residential properties available on the MLS® in Saskatoon at the end of June. This is just slightly above the five year average for active listings which is 1,990. The sales to listing ratio remained virtually unchanged from a year ago at 40%. The sales to listing ratio is a comparison of the number of sales for a period of time to the number of new listings. This number reflects that four out of every ten homes that hit the market end up selling. In reality this percentage is likely lower as many homeowners that do not sell will cancel their current listing and relist often at a different price. This elevates the true number of listings relative to sales. Last month, the average home in Saskatoon took 47 days to sell in Saskatoon last month, unchanged from May of this year.
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Sunday, June 24th, 2018

Family Fun Day

German Cultural Centre – 160 Cartwright St E

Time: 2:00 – 4:30 pm

Price: Free

Website: www.saskgermancouncil.org/

 

Ongoing

June 10th – 24th, 2018

Saskatoon Pride Festival

Website: saskatoonpride.ca

 

June 22 – July 1st, 2018

Sasktel Saskatchewan Jazz Festival

Website: www.saskjazz.com

 

June 16th – 23rd, 2018

Saskatoon Opera Presents La Boheme

Persephone Theatre – 100 Spadina Cres E

Time: 7:30 pm

Website: www.saskatoonopera.ca/

 

 

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Saturday, June 16th, 2018

80s Party Featuring Wang Chung & The Cutting Crew

Dakota Dunes Casino – 204 Dakota Dunes Way

Time: Doors – 7:00 pm, Show – 8:00 pm

Website: dakotadunescasino.com/entertainment/

 

Sunday, June 17th, 2018

Father’s Day Ultimate Brunch

German Cultural Centre – 160 Cartwright St E

Time: 10:00 am – 2:00 pm

Website: saskgerman.com

 

Ongoing

June 10-24th, 2018

Saskatoon Pride Festival

Various Locations

Website: saskatoonpride.ca

 

June 16th – 23rd, 2018

Saskatoon Opera Presents La Boheme

Persephone Theatre – 100 Spadina Cres E

Time: 7:30 pm, Saturday 2:00 pm

Website: www.saskatoonopera.ca/

 

 

 

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Home Listings Down Year to Date

  

Fewer home owners seem ready to put their home on the market this year compared to last. In May, a total of 943 properties were added on the Multiple Listing Service® (MLS®) in Saskatoon representing a 9% decrease from last May. Year to date there were 13% fewer homes listed year to date in Saskatoon.

 

The total number of active listings in Saskatoon at the end of May was 2,001, just slightly above the five year average of, 1,945 units. “Typically we see the highest number of active listings between May and September.” comments Jason Yochim, CEO with the Saskatoon Region Association of REALTORS®, “It’s the most active time in our market largely due to favorable weather.” He adds. Inventory levels for active MLS® listings reached an all-time high in July of last year with 2,210 homes for sale in Saskatoon. At the current rate of sales it would take five and a half months to liquidate the current stock of active listings. 


In May there were 364 home sales, a decrease of 13% from last May. Year-to-date sales for Saskatoon are down 7% with a total of 1,345 residential MLS® home sales. Home sales so far this year have declined in every price range with the exception of homes under $200,000 which saw a 30% increase for a total of 203 sales. The price range with the greatest decline in sales were homes priced between $450-500,000 with a year-to-date total of 85 sales, a 17% drop from last year. Homes selling between $750,000 and $1M are on par with last year at 19 sales. Homes in excess of $1M however are off sharply with three MLS® sales year to date. In 2017, there were three home sales in May alone over $1M and nine year to date.

The sales to listing ratio has decreased from 43% in April to 39% in May. The sales to listing ratio is a comparison of the number of sales for a period of time to the number of new listings. “Saskatoon remains a buyer’s market. However, homes that are priced to market and in good condition will still command great interest and in some cases competing offers.” comments Yochim. Last month, the average home in Saskatoon took 47 days to sell in Saskatoon last month, this is the lowest time to sell so far this year.

Year-to-date, the average sale price was $334,449, a 4% decrease from the same period last year. Since averages can be misleading, a better reflection of the market is the median. The median home sale price year to date is $320,000. The five year average for median residential home sale prices in Saskatoon is $341,980.

The Home Price Index Composite Benchmark Price (HPI) continued in an upward trend for most home types (except apartment style) again in May. The HPI is the most accurate indicator of where home prices are trending. For more information on HPI go to saskatoonrealtors.ca .

REALTORS® subscribe to a strict code of ethics and are dedicated to developing professional standards and continuing education in the real estate profession. This is not the case for those who sell real estate in the province and who are not members of an association of REALTORS®.

 

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Saturday, June 2nd, 2018

Kevin Hart

SaskTel Centre – 101-3515 Thatcher Ave

Time: Doors – 6:00pm, Show – 7:00 pm

Website: sasktelcentre.com

 

Pop-Up Restaurant – Global Pot Fusion Cuisine

Saskatoon Farmers Market – 414 Ave B South

Time: 11:00 am – 3:00 pm

Price: Free

Website: www.globalpot.org

 

Saskatoon Public Library – Knowlympics

Saskatoon Public Library – 311-23rd St E

Time: 10:00 am – 3:00 pm

Price: Free

Website: https://saskatoonlibrary.ca/Knowlympics

 

Sunday, June 3rd, 2018

Beads of Courage Color Festival Fun Run/Walk

Lakeview Park – 175 Whiteshore Crescent

Time: 9:00 am

Price: $45.00 – Early Bird

Website: https://www.colourrunsask.ca/about

 

Ongoing

June 2nd – 5th, 2018

Nutrien Children’s Festival of Saskatchewan

Kiwanis Memorial Park

Website: www.potashcorpchildrensfestival.com/

 

June 1st – 3rd, 2018

International Saskatchewan Salsa & Bachata Congress

TCU Place – 35-22nd St E

Website: sasksalsacongress.com

 

 

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Friday, May 25th, 2018

Ideas on Tap: Personal Branding

Vendasta – 4th Floor, 220 3rd Ave S

Time: 4:00 – 6:00 pm

Price: Free

Website: https://www.eventbrite.ca/e/ideas-on-tap-personal-branding-tickets-45811083183

 

Nature Needs Half | Naturecity Festival Presents Harvey Locke

Aden Bowman Castle Theatre – 1904 Clarence Ave S

Time: 7:00 pm

Price: Free

Website: wildaboutsaskatoon.org/

 

Saturday, May 26th, 2018

#1 Hits of the Opry

German Cultural Centre – 160 Cartwright St E

Time: 6:00 – 11:00 pm

Price: $25.00

Website: saskgerman.com

 

2nd Annual Sikh Day Parade

Dundonald Park – 130 Hunt Road

Time: 11:30 am – 3:00 pm

Price: Free

 

Saskatoon Mini Maker Faire 2018

Prairieland Park – 503 Ruth St W

Time: 10:00 am – 6:00 pm

Price: Advance Adult - $12.00, Advance (Age 6-12) - $8.00, Adult - $15.00, Age 6-12 - $10.00

Website: https://saskcraftcouncil.org/

 

SCRC Kilobots

Prairieland Park – 503 Ruth St W

Time: 10:00 am – 6:00 pm

Website: kilobots.com/events/

 

Sunday, May 27th, 2018

Saskatchewan Marathon

Meewasin Trail

Time: All Day

Website: saskmarathon.ca/

 

2018 Flores De Mayo Fiesta

Cathedra of the Holy Family – 123 Nelson Road

Time: 12:30 – 2:30 pm

Price: Adults - $30.00, Youth (Ages 6-12) - $10.00, Ages 5-0 – Free

Website: https://www.facebook.com/events/158467021511102/

 

Synchronized Swimming Watershow

Shaw Centre – 122 Bowlt Crescent

Time: 11:00 am – 1:00 pm

Website: saskatoonaqualenes.com

 

Ongoing

May 25th – 26th, 2018

Top of the Hops

Prairieland Park – 503 Ruth St W

Time: 6:30 – 11:00 pm

Website: https://www.topofthehops.ca/

 

May 25th – 27th, 2018

Ritornello Festival 10!

Remai Modern – 102 Spadina Cres E

Price: $20.00 - $80.00

Website: ritornello.ca/

 

 

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Henry Moulin

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345 4th Ave South

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