John Pearce Saskatoon Real Estate

Price Reduced on 1116 Spadina Cres East in City Park

John Pearce / Associate Broker — Fri, 13 Jan 2012 17:54:00 GMT

City Park, Saskatoon - Announcing a price reduction on 1116 Spadina Cres East, a 1,830 sq. ft., 3 bath, 3 bdrm 1 3/4 story. Now MLS® $599,900 - JUST REDUCED JAN 2012.

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1 3/4 Story For Sale in City Park

John Pearce / Associate Broker — Mon, 17 Oct 2011 20:16:00 GMT

Riverfront Saskatoon • 1,830 sq. ft., 3 bath, 3 bdrm 1 3/4 story - MLS® $619,900 - Fantastic Home City Park, Saskatoon - Fantastic character home on Spadina Crescent with views of the beautiful Saskatchewan River. Don't miss this opportunity to own a historic piece of Saskatoon. Hardwood flooring, riverstone fireplace, large kitchen and dining rooms, three season porch on the front for early morning coffee. Live just a couple blocks from the University or downtown but live in the quiet...(read more)

Saskatoon saskatchewan market update for August 2011

John Pearce / Associate Broker — Tue, 04 Oct 2011 14:54:00 GMT

Slightly Quieter Residential Market in September Activity was down slightly for Saskatoon REALTORS® in the month of September with 365 residential properties changing hands compared with August which saw 415 sales. The trend of sales increasing over last year continues however as we saw a 21% increase over September 2010 when 301 properties sold. Total residential sales Year to Date is currently at 3,183, that number up 13% from 2010 when the total stood at 2,823 for the end of September. The...(read more)

Saskatoon Real Estate facts for May 2011

John Pearce / Associate Broker — Mon, 06 Jun 2011 14:18:00 GMT

Residential Home Sales Remain Strong May’s residential home sale market was up 21% from May 2010 with 423 homes selling as compared to 351 homes selling in May last year. The greatest sales activity remained in the $300,000 to $350,000 price range with many first time buyers entering the market. The average number of days to sell lessened from May 2010 when it took 36 days on average to sell as compared to 33 days to sell this indicating an active market environment. The average residential...(read more)

Saskatoon Saskatchewan Real Estate Market Update Feb 2011

John Pearce / Associate Broker — Tue, 08 Mar 2011 02:03:00 GMT

Residential Resale Market Maintains its Momentum

The February resale market remained strong with Saskatoon REALTORS® assisting 282 home buyers with the purchase of their next home. This number was up 20 % from February 2010 when 235 homes were sold. The $250,000.00 to $275,000.00 price range was the most active indicating greater activity in the entry level and mid price range of homes. The average number of days to sell in the month of February was 41 days.

The average residential selling price in February was $287,202.00 this number down 1 % from February 2010 when the average selling price was $290,941.00. The year to date average selling price stands at $292,463.00 up 4% from last year at this time.

The average residential price is derived by taking the month’s dollar volume of homes sold and dividing that number by the unit sales number. The percentage of change should not be used unilaterally as prices vary from area to area. Consumers wishing an accurate estimate of value for their home should contact a REALTOR® member to do a comparative market analysis.

Home buyers had 1046 homes to select from at the end of February that number up from February 2010 when 866 homes were on the market. REALTORS® listed 545 homes in February that number up 17% from February 2010 when 465 properties were listed for sale. Year to date 1076 properties have been listed for sale up 25% from 2010 as a result home buyers are enjoying a slightly improved inventory level.

In areas surrounding Saskatoon sales activity continued to improve with 63 homes selling that number up 66% from February 2010 when 38 homes were sold. REALTORS® listed 177 properties in these areas in the month of February. That number is up 2% from February 2010 when 173 properties were placed on the market for sale. The average number of days to sell in areas around Saskatoon during the month of February was 58 days.

Optimism in the Saskatoon economy remains high. Evidence of this is seen on numerous fronts. Renters want to purchase, many current home owners are looking to move up and REALTORS® report significant interest from clients wanting to move here from out of province.

An important factor of a strong housing market is the activity experienced in new home sales. Saskatoon’s new home market remains strong with steady city lot sales taking place. Interest rates are favorable to purchase that next home and job creation in the Saskatoon area remains steady. The forecast for the remainder of 2011 is for listing and sales numbers to continue to balance and for resale prices to move up slightly due to demand.

Saskatoon Region Association of REALTORS®

Saskatoon Real Estate Update January 2011

John Pearce / Associate Broker — Wed, 02 Feb 2011 16:48:00 GMT

2011 Residential Sales Market Begins on a Positive Note The 2011 residential resale market started on a positive note with Saskatoon REALTORS® assisting 195 home buyers with the purchase of their dream home. This number was up 10 % from January 2010 when 178 homes were sold. The $300,000 to $350,000 price range continues to be the most active. The average number of days to sell in the month of January was 43 days. The average residential selling price in January was $300,353.00 this number up...(read more)

Price Reduced on 614 Denham Cres in Hampton Village

John Pearce / Associate Broker — Sat, 22 Jan 2011 16:08:00 GMT

Hampton Village, Saskatoon - Announcing a price reduction on 614 Denham Cres, a 1,564 sq. ft., 2 bath, 2 bdrm bungalow "Wa;kout bungalow". Now MLS® $529,900 - Custom Designed Home.

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Bungalow For Sale in Hampton Village

John Pearce / Associate Broker — Thu, 11 Nov 2010 14:20:00 GMT

Spectacular Walkout

• 1,564 sq. ft., 2 bath, 2 bdrm bungalow "Wa;kout bungalow" - MLS® $539,900 - Custom Designed Home

Hampton Village, Saskatoon - Beautiful Hampton Village Walkout. Lots of room in this unique home. Top of the line finishes include: Imported rain screen exterior finish (you won't see this elsewere), Japanese cherry hardwood flooring, large ceramic tiles in kitchen, custom crystal backsplash and huge granite countertop in kitchen. You'll love the open design. This home has two large bedrooms upstairs as well an office/study and laundry area on the main floor. The master bathroom is the ultimate in luxury...jetted tub, separate shower, honed quartz tiled floors, walls and ceilings, custom walk-in closet and shelving. Second bathrooms also sports full coverage of tumbled marble ceiling, walls and flooring. The deck is 26 X 12 and tiled and has gas for your ultimate BBQ in the summer. Driveway and all landscaping is completed. Finish the lower level in your own tastes. Check this one out.

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Saskatoon Saskatchewan Real Estate Facts and Figures for October 2010

John Pearce / Associate Broker — Thu, 04 Nov 2010 17:31:00 GMT

October Real Estate Sales Maintains Softening Trend in Saskatoon Sasktchewan

As forecast, the unit sales number for the month of October declined by 15% with 262 properties being sold as compared to 309 properties selling in October 2009. However the average selling price in October was $293,929.00 up 7% from October 2009 when the average was $274,879.00. The year to date unit sales number is down 8% with 3,088 homes having sold as compared to 3,356 homes having sold year to date in 2009.

For the first time in a while, in October the $250,000.00 to $275,000.00 entry level price range experienced the greatest sales activity. Year to date the $300,000.00 to $350,000.00 range still has dominant sales activity.

REALTORS® listed 455 homes in the month of October the number up 3% from October 2009 when 441 homes were placed on the market. Year to date listing numbers are up 3% with 6,081 properties being listed for sale. Consumers had 1,219 homes to select from at the end of October.

Sales activity in the smaller communities around Saskatoon e.g. Martensville, Warman, Dundurn remained very steady with 77 units selling. That number was down 14% from October 2009 when 90 units sold. The average selling price was down 3% at $243,353.00, the year to date average selling price in these areas is up 1% at $255,409.00. Listing numbers were down 4% with 190 properties being placed on the market for sale as compared to 198 in October 2009.

Sales activity is expected to remain steady for the remainder of the year. Interest rates remain attractive and job creation continues at a reasonable pace. Existing home sales may continue to soften slightly given steady growth in the new home sector which impacts existing home sales and averages.

Saskatoon Region Association of REALTORS® Inc 1149-8th Street East, Saskatoon, Sk S7H 0S3 TEL: (306) 244-4453 FAX: (306) 343-1420 www.srar.ca info@srar.ca Mission: "To Support our Members Professional Success, Career Development and Quality of Life" Trademarks are owned or controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA (REALTORS®) and/or the quality of services they provide (MLS®). Used under license

Real Estate Facts and Figures for October 2010, Saskatoon, Saskatchewan

John Pearce / Associate Broker — Thu, 04 Nov 2010 17:31:00 GMT

October Real Estate Sales Maintains Softening Trend in Saskatoon Saskatchewan

Saskatoon Region Association of REALTORS July 2010 Real Estate Facts and figures

John Pearce / Associate Broker — Tue, 03 Aug 2010 22:40:00 GMT

Residential Home Sales Soften in the Month of July in Saskatoon, Saskatchewan, Canada

Home buying activity was down slightly in the month of July with 357 homes selling down 18% from July 2009 when 438 homes were sold. Year to date unit sale numbers are down 4% with 2,217 homes having sold as compared to 2,304 selling in 2009 at this time of year. The majority of the sales activity remained in the $300,000.00 to $350,000.00 price range.

The average selling price remained strong at $289,715.00 up 2% from July 2009 when the average was $283,531.00. Year to date the average selling price is $290,515.00 up 5% from 2009 when the average year to date number was $277,490.00. The higher average selling price indicates continued strength in the mid price range homes. In July it took 39 days on average to sell a home.

Home buyers had 1,334 properties to select from at the end of July. Inventory levels decreased from the month of June when 1412 homes were on the market. Listing inventory continues to balance with REALTORS® listing 550 properties in the month of July that number down 7% from July 2009 when 594 homes were placed on the market for sale. Year to date listing numbers are on par with 2009 with 4,389 having been listed for sale.

Similar sales and listing activity was seen in the areas around Saskatoon e.g. Martensville, Warman, Clavet and Dundurn. Unit sales softened with 71 properties selling down 34% from July 2009 when 108 properties sold. The average price increased to $284,158.00 up 12% from July 2009 when the average selling price was $254,123.00. Listing numbers were down 15% with 230 properties being placed on the market. Year to date 1,643 have been placed on the market.

Market demand remains steady, interest rates are favorable and job growth continues. Similar market conditions are expected for the remainder of the summer.

Saskatoon Region Association of REALTORS June 2010 Facts and figures

John Pearce / Associate Broker — Mon, 05 Jul 2010 21:19:00 GMT

Residential Unit Sales Softened in the Month of June

The second quarter of 2010 ended with 1,863 year to date residential unit sales on par with 2009. The unit sales number for the month of June declined by 17% with 364 properties being sold as compared to 441 properties selling in June 2009. However the average selling price in June was $295,963.00 up 7% from June 2009 when the average was $276,194.00. This increase indicates strong activity in the mid to upper price range of homes. The $300,000 to 350,000.00 price range continues to experience the greatest sales activity

The average residential selling price is derived by taking the month’s dollar volume of homes sold and dividing that number by the unit sales number. The percentage of change should not be used unilaterally as prices vary from area to area. Consumers wishing an accurate estimate of value for their home should contact a REALTOR® member to do a comparative market analysis.

REALTORS® listed 676 homes in the month of June a similar number to June 2009 when 669 homes were placed on the market. Year to date listing numbers are on par with 3,838 properties being listed for sale. Consumers had 1,412 homes to select from at the end of June.

Sales activity in the smaller communities around Saskatoon e.g. Martensville, Warman, Dundurn remained very balanced with 101 units selling. That number was up 3% from June 2009. The average selling price was up 1% at $254,203.00, the year to date average selling price in these areas is up 4% at $252,788.00. Listing numbers were down 4% with 246 properties being placed on the market for sale as compared to 257 in June 2009.

Similar market activity is expected in the third quarter. New home sales are brisk, interest rates remain attractive, job creation continues to increase and regular in migration is taking place. In addition consumer confidence in the local economy also remains strong. All of these are necessary components of a healthy real estate market environment.

Saskatoon Market Update for April 2010

John Pearce / Associate Broker — Wed, 05 May 2010 16:33:00 GMT

Saskatoon Region Association of REALTORS® Inc just released this info for Saskatoon April 2010
Residential Real Estate Market Gains Momentum in April

All statistical measures were up in the month April beginning with units sales, up 6% with 372 homes being purchased as compared to 352 homes purchased in April 2009. Year to date numbers remain strong with 1147 units being purchased as compared to 1056 in 2009. REALTORS® sold $111,307,000.00 of real estate in April up 15% from April 2009. Year to date $330,016,00.00 of real estate has exchanged hands up 14% from 2009.

The average residential selling price was $299,214.00 that number up 9%from April 2009 when the average $275,586.00. The year to date average selling price stands at $287,722.00 up 5% from 2009.

Eager home buyers had a slightly increased inventory to select from at the end of April with 1258 homes being for sale. The number of listings taken by Saskatoon REALTORS® in the month of April was up by 13% with 784 properties being placed on the market as compared to 693 in April 2009. Year to date 2383 homes have been listed for sale.

Real estate activity was up in areas surrounding Saskatoon e.g. Martensville, Warman, Clavet and Dundurn. Unit sales were up 39% with 115 properties being purchased. The average selling price was $233,792 down 10% from April 2009 when the average was $260,956. This decline in the average selling price indicates more properties selling in the lower to mid price range.

All indicators point to a stable market conclusion for the second quarter. The market is fairly balanced with sufficient inventory being available for home buyers. Consumer confidence and optimism in the local and provincial economy is high. Job creation and availability remains steady. New home starts are steady

Saskatoon Real Estate update - March 2010 from SRAR

John Pearce / Associate Broker — Fri, 02 Apr 2010 16:21:00 GMT

Residential Resale Market Maintains Momentum

Saskatoon’s real estate market maintained its momentum throughout the first quarter. Unit sales were up 28% from March 2009 with 361 homes being sold as compared to March 2009 when 282 units were sold. Year to date 775 properties have exchanged hands that number up 10% from 2009 when 704 properties exchanged hands. The average days on market has dropped to 30 days with some areas having as low as 22 days to sell on average.

The average residential selling price in March was $282,615.00 up 6% from March 2009 when the average selling price was $266,620.00. The average selling price year to date is $282,270.00 up 3% from 2009 when the average price was $274,555.00. The highest number of sales year to date has taken place in the $300 to 350,000.00 price range.

Listing inventory remained steady with home buyers having 1045 properties to select from at the end of March. REALTORS® listed 738 homes in March up 11% from 2009 when 662 were placed on the market for sale.

In areas surrounding Saskatoon e.g. Martensville, Warman etc unit sales were up 49% with 97 properties selling as compared to March 2009 when 65 properties were sold. Year to date 168 properties have sold in these areas that number up 22% from 2009 when 138 properties had sold. The average selling price in these areas was $260,054.00 up 16% from March 2009 when the average was $224,328.00.

The Saskatoon and area market is steady and is expected to remain steady throughout spring and summer. Slightly higher interest rates may affect some first time buyers who typically are close to the line when qualifying for financing to purchase a home. Conditions in Saskatoon are very favourable for strong real estate sales and development.

City lot sales for 2010 have already exceeded the City Land Branch goals and expectations. Saskatoon leads the nation in population growth and job creation. Many businesses regularly express interest in relocating to this city and in-migration in general is becoming more common place. Even at the Olympics people stood in line for 2 hours to get into the Saskatchewan pavilion. All indicators point to 2010 remaining a solid market environment in Saskatoon.

Harry H. Janzen, CAE

Executive Officer

Saskatoon Region Association of REALTORS®

Lot / Land For Sale in St. Brieux

John Pearce / Associate Broker — Fri, 12 Mar 2010 22:22:00 GMT

Suitable for Walkout

• 10,800 sq. ft. lot / land - MLS® $85,000 - Lakefront Lot

St. Brieux, Rural NE Saskatchewan - Fantastic lakefront lot with 60 foot frontage on Rhona Lake, SK. Deep, stocked lake with pristine lakefront conditions. This lot is sutable for a walkout home. Call for more details if interested.

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Lot / Land For Sale in Invergordon No. 430

John Pearce / Associate Broker — Fri, 12 Mar 2010 21:24:00 GMT

Fantastic Lake

• 13,125 sq. ft. lot / land - MLS® $42,055 - 2nd row lot

Invergordon No. 430, St. Brieux - Fantastic Rhona Lake Lots for sale. 70 Minutes from Saskatoon on excellent roads. this is a 2nd row lot. Call for more info.

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Lot / Land For Sale in Pleasant Hill

John Pearce / Associate Broker — Wed, 17 Feb 2010 23:02:00 GMT

• 5,250 sq. ft. lot / land - MLS® $59,900 - Excellent Value

Pleasant Hill, Saskatoon - Vacant city lot in Pleasant Hill. Just off 20th Street and close to all ammenities. Possibility of adding additional 37.5 ft lot in package deal.

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Government to change mortgage rules

John Pearce / Associate Broker — Tue, 16 Feb 2010 14:48:00 GMT

By CBC News, cbc.ca, Updated: February 16, 2010 9:25 AM

Flaherty moves to toughen mortgage rules

Finance Minister Jim Flaherty announced new rules Tuesday aimed at preventing homebuyers from getting into financial difficulty when mortgage rates rise.

After consulting with major Canadian lenders, Flaherty outlined the latest weapons at Ottawa's disposal aimed at removing some of the speculative froth in the housing market.

"There is no evidence of a housing bubble, but we're taking prudent steps today to prevent one," he said at a news conference in Ottawa.

Broadly speaking, the plan unveiled has three components.

First, Ottawa will require that all borrowers meet the standards for a five-year fixed-rate mortgage, even if they choose a variable mortgage with a lower rate or a shorter term.

"This will guard against higher rates in the future," Flaherty said.

Second, the proposed rules would lower the maximum Canadians can withdraw when refinancing their mortgages to 90 per cent of the value of their home, from 95 per cent.

And finally, Ottawa will now require a minimum 20 per cent down payment to qualify for CMHC insurance for non-owner-occupied properties purchased as an investment.

The last rule is aimed at reining in would-be real estate speculators who own multiple properties beyond their primary residence.

"We want to discourage the tendency some people have to use a home as an ATM, or buy three or four condos on speculation," Flaherty said.

Minimum down payment unchanged

There had been speculation the Department of Finance might implement legislation raising the minimum down payment from five to 10 per cent of a home's value, or reduce the maximum amortization period from 35 years to 30 years.

Those measures were not part of Flaherty's announcement on Tuesday, but all options are still on the table should circumstances change, Flaherty said.

The new rules are not likely to revolutionize the industry. Indeed, a number of large Canadian lenders already practise the first peg of Flaherty's plan; after Tuesday's announcement, Bank of Montreal noted that it requires its high ratio borrowers to be able to qualify using the five-year rate.

"While we do not believe that Canada faces a housing bubble, we fully support the minister's actions," the bank said in a release. "Given the prospect of higher interest rates and the recent run-up in housing prices in some markets across Canada, the measures announced today are prudent."

SRAR Releases January stats for Saskatoon

John Pearce / Associate Broker — Sat, 06 Feb 2010 14:51:00 GMT

January Home Sale Numbers Soften Slightly From January 2009

Saskatoon REALTORS® assisted 179 homebuyers with the purchase of a home. This number was down 16% from January 2009 when 212 homes exchanged hands. The average residential selling price was $270,191.00 down 3% from January 2009 having an average residential selling price of $ 278,939.00. The average selling price declined slightly due to the increased number of sales in the $ 250,000.00 to $275,000.00 price range. This price range had the highest number of unit sales in January.

Inventory levels continued to correct in the month of January with fewer listings being taken. REALTORS® listed 394 residential properties this number down 23% from January 2009 when 512 properties were listed for sale. Homebuyers had 736 homes to select from at the end of January as compared to January 2009 when 1156 homes were available for sale. January’s number is up slightly from December 2009 when 703 properties were available for purchase.

The residential dollar volume of $48,364,000.00 was down 18% due to lower sales numbers and increased activity in the mid price range of homes. Dollar volume is expected to increase significantly as the year 2010 progresses.

The real estate market in areas surrounding Saskatoon was very active. Unit sales were up 17% in January with 34 units selling as compared to 29 units selling in January 2009. The average selling price was $214,976.00 up 5% from January 2009 when the average selling price was $204,166.00. January dollar volume was $7,309,200.00 up 23% from January 2009.

The real estate market is expected to remain steady for the first quarter of this year. Days to sell in January were 38 days on average within the city limits and 59 days to sell being the average in areas surrounding the City of Saskatoon. Consumer confidence remains high, interest rates are low, all contributing to a healthy real estate market.

Harry H. Janzen, CAE

Executive Officer

Saskatoon Region Association of REALTORS®

December 2009 SAR Facts for Saskatoon

John Pearce / Associate Broker — Tue, 19 Jan 2010 17:05:00 GMT

2009 Residential Home Sales Surpass 2008

In the month of December Saskatoon REALTORS® assisted 211 buyers to fulfill their home ownership dreams, this number up 31% from 2008 when 161 homes were purchased. Year to date 3,822 residential units have been sold up 9% from 2008 when 3,520 homes were sold at this same time.

The average residential selling price remained steady at $291,554.00 up 9% from December 2008 when the average selling price was $266,420.00. Year to date the average selling price was $ 278,779.00 down 3% from 2008. In 2008 the dollar volume remained high but unit sales were down slightly thus the reason for the slightly lower overall average selling price.

In 2009 REALTORS® sold $ 1,065,500,000.00 of residential real estate in Saskatoon. This number represents an increase of 5% from 2008 when $ 1,013,117,000.00 was sold. The highest amount of activity in 2009 was in $300,000 to $350,000.00 price range followed by significant activity in the $275,000.00 to $300,000.00 price range.

Listing inventory continued to correct throughout 2009. Home buyers had 703 homes to select from at the end of December as compared to 1,127 in December 2008. REALTORS® listed 212 properties last month down 13% from December 2008 when 245 homes were placed on the market for sale.

Sales activity in communities e.g. Martensville, Warman, Clavet and Dundurn surrounding Saskatoon was also very high during 2009. 47 properties were purchased in December that number up 68% from December 2008 when 28 properties were purchased. Year to date 951 properties have been sold up 9% from 2008 when 869 properties were sold. The average selling price was $258,996.00 up 15% from 2008 when the average price was $224,421.00.

At year end consumer confidence in the local economy remains optimistic a necessary component for consumer spending. All indicators point to a stable, steady real estate market in 2010. Unknown variables capable of affecting the market place are provincial revenue streams e.g. potash and oil prices.

SRAR Info for November 2009 Saskatoon

John Pearce / Associate Broker — Wed, 02 Dec 2009 03:49:00 GMT

The Saskatoon Region Association of REALTORS® (SRAR) released the residential real estate statistics for November 2009, along with this info.

I thought I could start to update my blog at least every month with some cool good news from Saskatoon, check this out:

Residential Home Sales Remain Active in November

The residential resale market remained strong in the month of November with 254 properties being sold that number up 41% from November 2008 when 180 homes sold.

The 3,611 year to date sales number is up 8% from 2008 when 3,359 homes sold.

Year to date Saskatoon REALTORS® have sold more than one billion dollars of residential real estate.

The $1,003,976,000.00 number represents a 3% increase over the 2008 year to date volume number of $970,223,000.00.

The average selling price for the month of November was $ 278,885.00 remaining on par with November 2008.

The year to date average residential selling price is $278,033.00 down 4% from year to date number in 2008.

The decrease indicates an increase in the mid price range homes being purchased by more first time and move up home buyers.

Homes took 43 days on average to sell in November. The days to sell number has remained on par for the past 6 months.

MLS® listing inventory continued to correct in the month of November. Home buyers had 877 residential homes to select from at the end of November. This inventory number includes 288 condominium units.

REALTORS® listed 356 properties in November that number down 16% from 2008 when 425 units were placed on the market for sale. Reduced inventory is contributing to a more balanced real estate environment.

Sales activity in small town markets surrounding Saskatoon was strong with 75 properties having sold that number up 168% from 2008 when 28 properties exchanged hands. The sales number is on par with 2007. The average selling price in these areas for November was $280,453.00 up 24% from November 2008 which had an average selling price of $226,546.00.

The real estate market is progressing as real estate professionals forecasted. Inventory levels are returning to more normal numbers and sales activity remains steady. The average selling price has remained steady throughout 2009 indicating a stable environment. Similar market activity is expected as we move into 2010.