Henry Moulin ABR, CRES

345 4th Avenue South #210 Saskatoon, SK S7K 1N3 |
306-221-9221 | henry@saskatoonrealestate.com

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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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November Home Sales Increase

Home sales in Saskatoon for the month of November were up 7% compared to November of 2016 with a total of 257 residential sales. This increase could be attributed to ideal conditions for home buyers combined with impending mortgage rule changes slated for January that will affect conventional borrowers. The year to date sales however, reflected a 6% decrease with 3,287 transactions. Homes that sold between $300-500,000, made up 1,606 of the year to date sales, or roughly half of the residential sales. Although homes in this price range are the most active segment of the market place, activity in this range has declined by nearly 12% compared to the first eleven months of 2016. Sales activity for homes that sold between $750-1,000,000 remained unchanged compared to last year with a total of 45 units. Homes that sold in excess of $1,000,000 was slightly down year over year with 14 sales compared to 16 in 2016.

Home sales in the market surrounding Saskatoon showed a significant bump in activity in November with 71 transactions, or a 22% increase from November 2016. Of these sales, 34 occurred in the cities of Martensville and Warman in November, compared to 26 last November. Inventory levels also continue to be elevated in the areas and cities in the Saskatoon region where there was 926 available properties for sale at the end of November.

The number of active residential listings that were on the market at the end of November was 1,826, 8% higher than last year. The number of new listings added to the market in November was 583 compared to 652 in the same month last year. The sales to listing ratio compares the number of sales for the month, relative to the number of new listings. The sales to listing ratio for Saskatoon in November was 44.4%. In November it took an average number of 58 days for a home to sell in Saskatoon. “If you are looking for a home, this is an ideal time with plenty of selection in most price ranges and areas as well as low interest rates” comments Jason Yochim, CEO with the Saskatoon Region Association of REALTORS®, “As for sellers who need to sell, they need to have a true sense of the market and price accordingly to sell within the average number of days.” He adds.

The average price continued to decline.  The MLS® Composite Home Price Index (HPI) Benchmark Price continued its steady decline for several months, down by 4.05% from a year ago. The Composite HPI measures the rate of change in a benchmark price for a typical home and is the most accurate indicator of pricing direction in a market.

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Friday, November 17th, 2017

Saskatoon Blades VS Brandon Wheat Kings

SaskTel Centre – 101-3515 Thatcher Ave

Time: 7:05pm

Price: $19.00 - $31.00

Website: www.saskatoonblades.com

 

U of S Huskies Men’s Hockey VS Alberta Golden Bears

Rutherford Rink – 69 Campus Drive

Time: 7:00 pm

Price: Adult - $13.00, Youth - $7.00

Website: huskies.usask.ca

 

Saturday, November 18th, 2017

2nd Annual Christmas Craft & Gift Fair

Bishop Pocock School – 227 Avondale Road

Time: 10:00 am – 4:00 pm

Price: Free

 

Saskatoon Pet Expo 2017

Prairieland Park – 503 Ruth St W

Time: 9:00 am

Website: saskatoonpetexpo.ca/

 

Shopping for the Season Fundraiser

Saskatchewan Abilities Council – 2310 Louise Ave

Time: 10:00 am – 4:00 pm

Price: Free

Website: abilitiescouncil.sk.ca

 

SSO Tanya Tagaq

TCU Place – 35-22nd St E

Time: 7:30 pm

Price: $15.00 - $80.00

Website: saskatoonsymphony.org/event/tanya-tagaq/

 

U of S Huskies Men’s Hockey VS Alberta Golden Bears

Rutherford Rink – 69 Campus Drive

Time: 7:00 pm

Price: Adult - $13.00, Youth - $7.00

Website: huskies.usask.ca

 

Sunday, November 19th, 2017

27th Annual Saskatoon Santa Claus Parade

Downtown Saskatoon

Time: 1:00 pm

Website: saskatoonsantaparade.ca

 

Ongoing

November 18th – January 6th, 2018

BHP Billiton Enchanted Forest Holiday Light Tour

Forestry Farm Park & Zoo – 1903 Forest Drive

Time: 5:30 – 10:00 pm, Nightly

Price: $10.00 per person, or $33.00 per car (7 Passengers maximum)

Website: www.enchanted-forest.org

 

November 1st – January 7th, 2018

Eaton’s Once Upon a Christmas Exhibit

Western Development Museum – 2610 Lorne Ave

Time: 9:00 am – 5:00 pm

Website: wdm.ca

 

November 17th – 19th, 2017

Our Best to You Craft Sale

Prairieland Park – 503 Ruth St W

Price: $5.00 – Cash Only

Time: Friday – 10:00 am – 9:00 pm, Saturday – 10:00 am – 6:00 pm, Sunday – 10:00 am – 5:00 pm

Website: ourbesttoyou.ca/saskatoon

 

November 4th – December 2nd, 2017

Wearable Art 3

Saskatchewan Craft Council Gallery – 813 Broadway Ave

Price: Free

Website: https://saskcraftcouncil.org/affinity-gallery-exhibitions/current-exhibition/

 

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The month of November saw a decline in sales activity as well as new listings coming on the market in Saskatoon and region. Total dollar volume year to date was $1.65 B, a 4% reduction from 2015 and 18% lower than the same period in 2014.The number of homes that sold in Saskatoon for November was 243 units representing a 14% reduction compared to November 2015. As of the end of last month there was a cumulative total of 3,489 home sales, this is 7% lower than a year ago. The number of homes listed for sale to the end of November 2016 was 8,897. Currently there are1,687 residential properties available for sale in Saskatoon, only the month of January had less product available with 1,612 units. At the current level of sales it would take nearly seven months to liquidate this inventory.

 

The average selling price continues to remain virtually unchanged at just over $350,000. Two years ago the average selling price two years ago by comparison was $357,000, at a time when the market was more active. “An increase in sales in the higher end homes has helped to support the average price in the Saskatoon market” states Jason Yochim, CEO with the Saskatoon Region Association of REALTORS®. Sales in every price range below $750,000 saw decreases in unit sales however homes priced above that increased year over year. For sales over $1M there were 25 units sold year to date compared to 13 units a year ago. Homes in the price range between $750-800,000 were up 50% year to date over 2015.

 

The current sales to listing ratio for November was 37% which is firmly a buyers’ market as it has been all year. Homes are currently taking 50 days on average to sell in Saskatoon with sellers realizing 97% of the asking price. “These statistics tell me that sellers who price to the market will realize a sale in much less time than the average of 50 days and close to their asking price. Those who do not price to market are typically responsible for the low sales to listing ratio.” Comments Yochim. “Buyers are more educated than at any other time and typically know where the market is at.

 

There are positives in this quieter real estate market. The recent selling out of the much awaited River Landing condominium project in less than four days proves that location, location, location is key in any market conditions. This occurred in spite of an oversupplied condominium market with somewhere in the neighborhood of 1,000 multi-family units available for sale.

 

“The best advice I can give to those who are needing to sell is to get sound pricing, marketing and timing advice from a professionally licensed and trained REALTOR® member of The Saskatoon Region Association of REALTORS®. Real estate is local to specific markets in Saskatoon and every seller’s situation is unique. Impartial and objective advice is critical in a successful sale of residential real estate.” cautions Yochim. REALTORS® also subscribe to a strict code of ethics and are dedicated to developing professional standards and continuing education in the real estate profession.

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Friday, November 25th, 2016

Saskatoon Blades VS Brandon Wheat Kings

 

SaskTel Centre – 101-3515 Thatcher Ave

Time: 7:05 pm

Website: www.saskatoonblades.com

 

U of S Huskies Volleyball VS Brandon Bobcats

 

Physical Activity Complex – 87 Campus Drive

Time: Women: 6:00 pm, Men: 8:00 pm

Website: huskies.usask.ca

 

U of S Huskies Women’s Hockey VS Manitoba Bisons

 

Rutherford Rink – 69 Campus Drive

Time: 5:00 pm

Website: huskies.usask.ca

 

Saturday, November 26th, 2016

Saskatoon Blades VS Medicine Hat Tigers

 

SaskTel Centre – 101-3515 Thatcher Ave

Time: 7:05 pm

Website: www.saskatoonblades.com

 

U of S Huskies Volleyball VS Brandon Bobcats

 

Physical Activity Complex – 87 Campus Drive

Time: Women: 6:00 pm, Men: 8:00 pm

Website: huskies.usask.ca

 

U of S Huskies Women’s Hockey VS Manitoba Bisons

 

Rutherford Rink – 69 Campus Drive

Time: 5:00 pm

Website: huskies.usask.ca

 

Gone Wild for Wildlife

 

Prairieland Park – 503 Ruth St W

Time: 10:00 am – 5:00 pm

Price: $5.00

Website: www.wrsos.org

 

Sunday, November 27th, 2016

 

Barra Macneils Christmas Tour 2016

 

Broadway Theatre – 715 Broadway Ave

Time: 7:30 pm

Website: broadwaytheatre.ca

 

A Victorian Sewing Circle at the Marr Residence

 

Marr Residence – 326 – 11th St E

Time: 1:00 pm – 4:00 pm

Price: Free

Website: themarr.ca/

 

Ongoing:

November 23rd – December 11th, 2016

A Christmas Carol

 

Persephone Theatre – 100 Spadina Cres E

Website: persephonetheatre.org/

 

November 20th - 26th, 2016

Festival of Trees

 

Western Development Museum – 2610 Lorne Ave

Time: 9:00 am – 9:00 pm

Admission: Adults $9, Seniors $8, Students $6.25, Children (6-12) $2.50, Preschool free, Family $20

Website: www.festival-of-trees.com

 

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Just moved into a new house and don’t think the color of the walls match your furniture? Or are you just tired of looking at the same color in your living room that you’ve had for the past year? Time to bust out those paint rollers and dress in your oldest clothes to get this job done. But maybe money is a little tight right now, as the holidays are literally just around the corner. So here are 6 ways to get those walls painted without breaking the already broke bank:

 

1. Check Local Recycling Centers

 

Most recycling and hazardous waste centers accept old and unused paint cans from residents and businesses. Everyone knows that paint has a very long shelf life, so it’s common to find paint at these centers. Best of all, it’s free

 

2. Illuminate the Walls

 

Make sure to have plenty of sunlight or bring out your own lamps to shine on the walls so that you don’t miss any spots on the walls. It is always the worst to finish the job, clean up everything, only to learn a week later that you missed a few spots.

 

3. Use a Primer

 

Everyone should know to always use a primer before starting. Ladies know before painting their nails that they need to apply a base coat before painting on the actual color to save the nail. The same applies for walls. The primer will help the paint adhere to untreated surfaces, such as raw wood or unfinished drywall. Also helps if you’re dealing with either stained or rough surfaces that could need more than one coat.

 

4. Buy the Expensive Brand

 

Cheaper isn’t always better when it applies to paint. Cheap paint won’t shine as bright, look as smooth, and could always require more coats to achieve a finished look, which will add up that cost. Most high-quality paints, many which already include a primer in the mixture, can go on in one coat. These can cost more per can, but the job is complete with less paint and less time.

 

5. Don’t Rush for Color

 

It’s a known fact that there are some people will pick the first color they see to save time, while others will agonize over it for hours. Never rush on this. You will have to look at this color for a while, so it is always good to take your time, even collect some samples and see which would look best. Rushing into a color could result in having to repaint everything after it’s all finished because the mustard yellow you picked out, doesn’t exactly go with Grandma’s couch.

 

6. Read Up on Finishes

 

It is always a must to know about the 4 kinds of finishes you can use. These 4 are:

-        Flat: This finish is perfect for interior walls and ceilings.

-        Eggshell: This finish is great for living rooms, bedrooms, as well as dining rooms as its easy to wash and touch up.

-        Satin: This finish is insanely easy to clean, which makes it perfect for any high traffic areas in the house.

-        Semi-Gloss/Gloss: This finish should be mainly used for the trim, cabinets, kitchens, and bathrooms as it gives great coverage and its highly washable.

 

Following these tips can definitely help you save time, money, and any headaches along the way so that you can get that beautiful living room you have always wanted. Or any room for that matter. 

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Phone: 306-221-9221

345 4th Avenue South #210

Saskatoon, SK S7K 1N3

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