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Dead or Alive: the future of commercial real estate in Saskatchewan

COVID-19 has underscored the fact that being in close physical contact with others can make us more susceptible to disease. As a result, people in this COVID era may continue to practice physical distancing measures to reduce the risk of infection and to remain healthy.  Employers and employees are already working to navigate a complicated web of safety and caution to return to work. The Canada Emergency Response Benefit is set to run out in September which will trigger a significant wave of people heading back to work and the continued preference for physical distance could prompt a change in occupational health and safety (OHS) regulations and building codes to help support safe physical distancing guidelines developed in response to COVID.  Even though it could take some time for new regulations to be put in place, employees and customers may demand that employers and businesses put additional measures in place to protect their own [...]

Saskatchewan Real Estate Sees Another Great Month

LongMediaRelease-2020-09-02 September 02, 2020 For immediate release Although the August real estate market appears to be slowing down compared with June and July, we still see signs of strength. Across the province, year-over-year sales were up over 46% from August of last year (and up over 14% year-to-date), new listings were up nearly 5% year-over-year (but down just over 9% year-to-date), and the median sale price was up over 7% (up 0.2% year-to-date). Inventories were also down in 18 of the 19 markets that the SRA tracks. This suggests that people are still quite eager to buy and are continuing to find value in real estate. “While there have been some COVID outbreaks across the province, the number of cases has been pretty small” said SRA CEO Jason Yochim, “and this doesn’t seem to have turned people off from buying and selling real estate.” The fact that we had two [...]

Stronger Together: SRA Celebrates 2020 Amalgamation & Delivers on 100% of Member Promises

  Imagine how hard it can be for a person to change something as simple as a habit. Now imagine how hard it can be for an organization filled with people to change. Finally, imagine how hard it can be for three organizations to change, and still deliver outstanding service to its members. Well, you don’t need to imagine it at all—you just need to look at the Saskatchewan REALTORS® Association (SRA) to see that it’s possible. The SRA was formed on January 1, 2020 from three separate associations, and it has come a long way in very short time while navigating the COVID-19 pandemic. “It didn’t happen overnight,” says Samantha Krahn, SRA’s new Director of External & Government Relations, “but it’s been an exceptional example of teamwork, strong leadership and innovation." After extensive consultation with its members, the Association of Regina Realtors (ARR), the Saskatoon Region Association [...]

SASKATCHEWAN REAL ESTATE MARKET CONTINUES TO SHOW STRENGTH

MediaRelease-2020-08-05 August 05, 2020 For immediate release Building off the strong performance seen in June, the real estate sector continues to show signs of resilience. Across the province, year-over-year sales were up over 56% from July of last year (and up over 9% year-to-date), new listings were up over 9% year-over-year (but down 11% year-to-date), and the median sale price was up 2.7% (down 0.9% year-to-date). Inventories were also down in all markets that the SRA tracks, suggesting that people are still eager to buy and take advantage of the opportunities that exist. While there has been an uptick in the number of COVID cases across the province, the precautions put in place earlier this year seem to have reduced people’s anxiety about home buying. “When the pandemic hit, we put measures in place to make sure that our members and their clients would be safe while buying homes,” said [...]

SASKATCHEWAN REAL ESTATE MARKETS SHOWING STRONG SIGNS OF RECOVERY

SRA - Market Activity North-South - June 2020 July 07, 2020 For immediate release As the province continues to re-open, the real estate sector is experiencing a strong recovery. Year-over-year sales across the province were up close to 50% from June of last year (and only down 0.3% year-to-date showing that we’ve nearly recovered all of the sales lost during the lockdown), new listings were up almost 8% (down 14.5% year-to-date), and the median home price was up almost 2% (down 1.5% year-to-date). Inventories were also down in 17 of the 19 markets that the SRA tracks, suggesting that people are quite eager to buy now and make up for lost time due to the pandemic. This recovery was expected as physical distancing restrictions were loosened and as people’s confidence began to return. With the economy getting back to “normal”, people are getting excited to buy homes. “We’ve seen properties [...]

Welcome Sam and Chris to SRA

The Saskatchewan REALTORS® Association is pleased to announce it has added two dynamic new staff members to the team. Chris Gbekorbu, the SRA’s new Economist in Regina, and Samantha Krahn, SRA’s new Director of Government and External Relations in Saskatoon. A key goal of the amalgamation was to increase the strategic effectiveness of the SRA’s communications and to bring depth to the market reporting. Chris Gbekorbu                 “The SRA has lacked the ability to tell the full story when it comes to statistics and Saskatchewan’s economic picture. Chris’ education and skills, provide an important foundation and unique insight into the current and future housing market for both members and external groups.” – Jason Yochim, SRA CEO Chris joins the SRA from his previous post as an Adjunct Professor with the University of Regina, the First Nations University of Canada, and Carleton Trail Regional College, [...]