Saskatoon Housing Market Update – August 2016

August shaped up to be a pretty good month, with Saskatoon realtors reporting a 13% increase in $ sales compared to August 2015. After several months of negative trends, this is welcome news for many in the industry. Year-to-date, we are still trending down compared to 2015 on unit sales and $ sales. Including August, our market is down 7% for units sold as compared to 2015.

On the pricing side, things are still looking relatively flat for Saskatoon. The overall numbers (MLS Home Price Index) show a decline of under 1% for the past 12 months. However, if you look at specific housing type, it tells a different story. Apartment style condos have been the biggest challenge with a price reduction of 5.6% compared to August 2015. Meanwhile, single family homes have been essentially flat and townhouse prices have come up about 2% in the last 12 months.

Inventories have tightened somewhat, and we were carrying under 2000 listings at the end of August. While this is above the 5 year average of 1,634 units, it has come down from previous months. With housing starts down, we expect this number to continue to trend down over the next 12 months. The average days to sell a home in August were 47, and houses are selling for 97.2% of the list price.

Overall, the market seems to be tightening slightly, and prices are holding. But, be careful with overall number and averages. We are seeing the markets for specific housing types and price ranges behave quite differently. If are you looking for advice on buying or selling in Saskatoon, please contact me for further information.

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I was incredibly happy with having chose Lorri as my Realtor. From the start of the experience with her I found her to be very helpful, always attentive to the details of what I specified as wants and needs in my new home. Extremely professional in her ability to answer questions and facilitate requests that I had. Lorri was patient and understanding when I was having difficulty deciding on my purchase. Through the whole purchase and sale process Lorri has been there and made it the experience fun, more like a trusted friend that was helping me to find the right home for me.

Repeat Client - Wade H.

We’ve had the pleasure of working with Lorri a number of times. Lorri is very professional and incredibly dedicated to her work. She is thorough and takes the time to do the groundwork necessary to ensure a successful and satisfactory sale. Lorri continues to meet our real estate needs by answering any questions we have, forwarding potential investment opportunities that we might be interested in, and recommending professional and reliable trades. With her easy-going and down-to-earth personality, Lorri has been a perfect fit for us and we have every confidence that she will represent us well, having seen her hard work in action. Lorri has made the process as stress-free as possible for us!

Repeat Client - Andrew & Angela W.

My husband and I recently bought a home in Saskatoon – we are both new to the city and had a check list of ‘must haves’ for our first home together. Lorri was recommended to us by our real estate agent in Ontario and we were thoroughly impressed. Lorri is always available and working for ‘you’ and seemed to get what we wanted within minutes of meeting. We were so happy with Lorri that she represented us for our sale as well. Thanks Lorri!

Repeat Client - Jeff & Melissa H.

Buying your first home can be a stressful event. Lorri helped guide us through the process with professionalism and diligence. She took the time to make sure that all of our needs were met and that we were able to find the home we were looking for. I would highly recommend Lorri Walters as a Realtor to anyone looking to buy or sell their home.

First Time Buyer - Kris & Cara K.

Lorri took the time to ask us questions about what were looking for in a home. We were new home buyers, so we appreciated Lorri being honest about every house we looked at. She helped us to point out things that may need repaired within the home, and helped us to consider surrounding amenities to assess future resale. It was clear to us she was helping us find our perfect starter home and not just make a sale. Her integrity, willingness to go the extra mile for us, and her humour were much appreciated!

First Time Buyer - Tyler L. & Katherine K.

Purchasing our new home was an exciting but stressful time.  Lorri was such a help and made the process much easier for us.  She was always available to answer questions and was committed to ensuring we had the right property at the right price. I would recommend her to anyone needing a Realtor.

Repeat Client - Lisa G.

Impressed by your professionalism, even from over 1,000 KM away we felt we were in good hands.  You accommodated us very well and we appreciated your honesty and felt that you had our priorities first.

Buyer - Devon & Kristal H.

We recently went through a move and heard of Lorri through our work place. Being so skeptical due to our lack of a realtor back in Winnipeg selling our home, we were very nervous. But the moment we met Lorri, we realized we were in great hands. She has been a moving angel…she helped us through everything, even the most silliest of questions or concerns we had she never hesitated to drop what she was doing to help us out. Even after our possession being in a new city she is still so helpful in whatever questions we have! Like sushi suggestions?? Thank you Lorri!

Repeat Client - Bonnie G.

We decided we were going to buy our first home, we weren’t sure where to start! We slowly went to open houses on our own and at one of these, we met Lorri Walters. She was the first Realtor who actually took the time to present herself and offer us help. As Lorri’s clients, we felt blessed to have found a Realtor in which we could trust and also depend on to find what we were looking for in our first house and who could help us better understand the way the market works. Lorri would always work around our busy schedules and was very professional and easy to talk to, she made our first experience of buying a house hassle free! We were so pleased we had her represent the sale of our home as well.

Repeat Client - Murielle & Francois L.

I recently had Lorri be my Realtor on the sale of my house. Lorri was professional, gave me great advice through the sale of the house and followed up on making sure the process was dealt with in the best manner possible. Her demeanor, thoughtfulness and honesty are appreciated! I would recommend Lorri to anyone looking to sell or buy a home.

Selling – James J.

Being a military couple, we got posted to Saskatoon for our very first move, with neither of us ever having been here before. Lorri was exceptional! She went above and beyond to ensure everything involved in the process ran according to plan and within the timeline required. This was especially reassuring with us being halfway across the country before the move. We highly recommend her to all future home buyers in the area and will most definitely be going to her when time comes to sell and move again.

Buyer – Peter B. & Stefanie P.

LORRI WALTERS Realtor®

If you’re ready to make that next step, all I ask is that you give me a call and we can sit down and chat about your needs and the best way I can help with your next purchase, sale or future investment. At the end of the day, I am here for you, and I’ll never let you settle for a home that you’re not 100% satisfied with.