July 2021 Media Release & June Market Stats
SASKATCHEWAN REAL ESTATE MARKET IS STEADY AND STRONG July 08, 2021 For immediate release: The Saskatchewan real estate market remains strong. Across the province, there were 1,914 homes sold (up over almost 12% from last June and up 65.7% year-to-date, going from 5,690 to 9,427), new listings were down 2.6% (but up 20.0% year-to-date, going from 2,174 to 2,608) and the MLS® Home Price Index (HPI) composite was up 9.8% (up 8.9% year-to-date, going from $262,700 to $288,500). Inventories—a measure of how many months until there are no active listings given current sales levels— were also down in 23 of the 24 markets that the SRA tracks. “The market continues to level off from the highs seen earlier this year,” said Chris Guérette, SRA’s CEO. This month-over-month leveling off in activity is expected and is being seen across the country. “As more people get their COVID vaccines [...]
SRA Spotlight – Robyn Luthi
Every month we will spotlight an SRA REALTOR® who is going above and beyond. We know many of you are involved in your communities, are doing exceptional work and we want to highlight those achievements. Robyn Luthi works as a REALTOR® in Melfort with Coldwell Banker Signature We sat down with Robyn (virtually) to ask her a few questions about her involvement in her community and her career as a REALTOR®. What made you decide to become a REALTOR®? I was feeling burnt out from my previous career as a social worker and my husband encouraged me to change careers and go into real estate, which was a great fit with our construction business. I have loved every moment of it. 2. What do you love most about your job? I love being able to help people find they property they fall in love with. Whether it be [...]
June 2021 Media Release & May Market Stats
Saskatchewan real estate market remains steady June 3, 2021 For immediate release: Media Release 2021-06-03 The Saskatchewan real estate market remains strong. Across the province, there were 1,853 homes sold (up over 67% from last May and up 88.9% year-to-date, going from 3,978 to 7,513), new listings were up over 14% (and up 26.7% year-to-date, going from 2,019 to 2,556,) and the MLS® Home Price Index composite was up 11.2% (up 8.4% year-to-date, going from $265,800 to $288,300). Inventories—a measure of how many months until there are no active listings given current sales levels— were also down in all 24 markets that the SRA tracks. “May was about as strong April,” said Chris Gbekorbu, SRA’s Economic Analyst. This month-over-month leveling off in activity is expected. “Markets have been gaining momentum since last May when some pandemic restrictions were lifted. And at some point, things need to start to steady,” said [...]
CREA – 2021 Virtual Trade Mission
Hosted by: The Canadian Real Estate Association (CREA). Our membership is comprised of more than 135,000 real estate brokers, agents and salespeople who belong to real estate boards/associations across Canada. This event is held in English only. Register Grow your Canadian real estate market knowledge and REALTOR® network as we take a virtual trip across the country. Each stop will showcase information and presenters from local markets, including real estate updates and what makes these destinations unique. Ready to roll? Of course, it would not be a road trip without something to help pass the time. Each session will conclude with some roadside trivia and prizes. Also, if you join us for all Canadian destinations you will be entered in a draw for the chance to win a $500 gift card that could be used to come up and [...]
SASKATCHEWAN ISN’T TORONTO: Why the New Proposed Mortgage Stress Test Rules are Bad Policy for Smaller Markets
Often ignoring the fact that real estate is highly local, recent headlines have prompted fears that the Canadian real estate market is overheated. Much of this fear, however, comes from large markets such as Vancouver, Montreal, and Toronto, where the average home price has increased 21.6% annually. With such rapid price appreciation and concerns over housing affordability, there have been calls for increasing regulation of “the housing market” (again, ignoring the fact that there are several unique housing markets across the country). Canada Mortgage and Housing Corporation (CMHC), for instance, has reportedly been looking at introducing a tax on home equity (though CMHC notes that this is part of an ongoing research study and that it will not making it policy). RBC Senior Economist Robert Hogue has even suggested that the capital gains exemption on principal residences be removed. Ultimately, both seek to reduce prices (and will help to [...]
May 2021 Media Release & April Market Stats
SASKATCHEWAN REAL ESTATE SETS ANOTHER SALES RECORD May 5, 2021 For immediate release Media Release 2021-05-05 The Saskatchewan real estate market continues to build momentum and set another sales record in April. Across the province, there were 1,865 homes sold (up nearly 182% from last April and up 97.2% year-to-date, going from 2,208 to 3,795), new listings were up over 41% (and up 13.9% year-to-date, going from 2,870 to 5,660,) and the MLS® Home Price Index composite was up 10.5% (up 8.2% year-to-date, going from $256,900 to $283,900). Inventories were also down in all 24 markets that the SRA tracks. “It’s not really fair to compare this April to last April since pandemic restrictions halted activity for part of April last year,” said Chris Gbekorbu, SRA’s Economic Analyst. “But it is fair to compare April with other years, and just like last month, we [...]