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Housing up for the first half of 2014 in Saskatoon
The first half of 2014 started with a bang. Saskatoon house sales were up 13% from 2013 totalling 3,249 and a total of 7,184 homes were listed for sale during the first half of the year also with an increase from 2013 at 15%. The Saskatoon real estate market is strong and as the city continues to experience this kind of growth, increases like this will continue to be the norm.
The average house price also increased with the first half and is up 3% from last year while the number of days on market dropped from 40 days to 33 days now in 2014.
Surrounding Saskatoon, the areas also saw notable increases. Property sales increased 36% in June alone compared to last year and the average days on market ended at 64 days.
Home sales in the higher price ranges have also increased. Homes between the $350,000 and $500,000 range increased by 24% while the $500,000-$750,000 range increased by 33%.
All great signs for a booming real estate market in Saskatoon. If you are interested in learning more about what Saskatoon has to offer or wondering if a move is right for you, contact me today and I’ll be sure to help you out as best I can.
Kari Calder
Saskatoon real estate agent
Century 21 Fusion
Making Bridge Park a reality
It’s not set to be completed for another 25 years but Saskatoon is hoping to see the addition of what the City is now calling Bridge Park. It’s a green space that would allow vehicles, bikes, and pedestrians to cross the CP rail yards in north downtown. The park would cover 5 acres and connect the neighbourhoods on either side of the railroad, spanning the river.
The plan is estimated at $130 million and would also provide housing for approx 7,600 people in a mix of townhouses and 1-2 storey towers.
Pending approval, the plan is projecting a revenue of $72 million from developer fees but still has the obstacle of dealing with the 24 acres of city yards that house the city equipment. No money has been set aside for moving them.
The City can still start to release parcels along the 25th Street extension even if the yards haven’t been dealt with. This would be done within the first 5 years after approval. Over the next 5-10 years the eastern portion of the bridge would be built and adjacent parcels would be developed. Lastly, the bridge would be extended to the west side.
If you are considering a move to Saskatoon, consider all the great things our beautiful city has to offer and Bridge Park is sure to become one of the cities’ greatest assets.
Kari Calder
Saskatoon real estate agent
Century 21 Fusion
Retail opening in Rosewood
City council has just approved a new development in Rosewood for retail space. Arbutus Properties is set to develop retail space, named Meadows Market, with construction to begin immediately on the infrastructure.
Rosewood will see a retail area in it’s ‘town centre’ which will include wide sidewalks, front store parking, and a community gathering space – mimicking a small town feel. This is an architecturally controlled area with one of the guidelines being that residential homes must include a front porch on every home.
The residential section of The Meadows will include more than 2,800 single family homes and town houses when complete. The retail side will include big box stores, boutique like shops, restaurants, and specialty stores spread over 90 acres. This could house approx 40-50 new businesses. No word yet on what the big names will be.
If you are interested in finding out more information about the neighbourhood of Rosewood and think that this might be a great neighbourhood for you to buy a home in Saskatoon, please feel free to contact me.
Kari Calder
Saskatoon real estate agent
Century 21 Fusion
The City of Bridges is about to expand
Both Provincial and Federal governments have pledged to financially assist the City of Saskatoon to fund two major bridge projects. Between the two levels of government, $116 million will be contributed to the projects.
This major project, which will be designed, built, and maintained by a private sector partner, will involve the replacement of the Victoria Bridge (or Traffic Bridge) and the development of the North Commuter Parkway as well as connecting roadways to the bridges. The City is also considering making the north bridge a toll bridge, having the users pay a small fee to cross to help cover the costs.
When complete, the North Commuter Bridge would link the Marquis Downs industrial area with University Heights which would help ease congestion on the Circle Drive North Bridge, which sees an estimated 80,000 vehicles a day. It is estimated to relieve that number by half.
Construction of the two bridges is expected to take 2 years to complete.
This will help ease congestion in the north east neighbourhoods and will decrease travel times going to the north end of the city for the Silverspring, Evergreen, Willowgrove, University Heights, Arbor Creek, and Erindale areas. If you have questions about any of these areas, feel free to contact me today and I’d be happy to answer any questions you might have.
Kari Calder
Saskatoon real estate agent
Century 21 Fusion
Saskatoon real estate market update for May 2014
The May 2014 Saskatoon real estate market improved slightly from 2013 where 425 houses for sale in Saskatoon sold. This year we saw the market increase it’s sales with 493 houses in Saskatoon selling for the month of May.
The average home price in Saskatoon didn’t see significant changes with the average house price at $356,843 for 2014. This is up 0.5% from last year’s $355,106 in May.
Currently, the average time to sell a house in Saskatoon has decreased from 49 to just 36 days.
By the end of May, homebuyers in Saskatoon had 1,530 homes to choose from with 485 of those being condos for sale in Saskatoon.
Listing inventory in Saskatoon has increased with 945 new house listings in Saskatoon in 2014 while in 2013 we saw 897 new units placed on the market, signifying an increase of 5.4%.
If you are looking for a qualified and experienced Saskatoon real estate agent, contact me for more information or to set up a meeting to discuss the current market and all your real estate needs.
Kari Calder
Saskatoon Real Estate Agent
Century 21 Fusion
Sharpest increase is found in Saskatchewan
It was announced yesterday by Statistics Canada that Saskatchewan had the highest percentage increase for residential property values in Canada between 2005-2011.
The rise was reported to be 139.8% or a total value of $87.7 billion. Not surprisingly, Saskatoon led all the metropolitan areas in the country for price increases. Property values increased a total of 163.6 per cent between those same years.
What does that translate to? The average house price in Saskatoon in 2006 was just under $150,000 and in 2011 it rose to just over $272,000.
The big question is why. Experts agree that the Saskatchewan housing market had been depressed for many decades until 2007-2008 where we saw bidding wars and the sharp increase in prices. However looking at the picture as a whole; the Saskatoon 2011 average price of $272,000 was still 33% less than Alberta’s and 23% below the national average.
As long as the province’s economy continues to thrive, and we experience a positive net migration into the province, house prices in Saskatoon are expected to increase.
Kari Calder
Saskatoon real estate agent
Century 21 Fusion
Saskatoon’s newest neighbourhood – Brighton
A new neighbourhood has been announced for Saskatoon’s south east, and it’s not going to be a small one either. Brighton is set to house 15,505 residents when complete. That’s the same size as the city of Yorkton. When complete it will be the largest neighbourhood in Saskatoon in terms of population.
Brighton is also going to be considerably larger than the bordering communities of East College Park and Arbor Creek at 4,700 and 4,849 respectively.
According to the the city’s 2011-12 population estimates, the largest neighbourhood in Saskatoon currently is Silverwood Heights. This north end neighbourhood is home to 10,483 people. Brighton is also slated to be the second densest community in Saskatoon with 7.4 people per acre over a total of 867 acres. The planned upcoming neighbourhood of Aspen Ridge is the densest at 8.93 people per acre.
The city is taking a different approach with this neighbourhood, making it an all inclusive, taking lessons from previous developments. It will feature a grid layout to discourage non-local traffic and have houses facing park areas while including pedestrian access, similar to Calgary’s Garrison Woods neighbourhood.
It will consist of mostly crescents and cul-de-sac’s and each residential cell will have it’s own pocket park. Sidewalks will be wider and it will have complete streets, accommodating vehicles, transit, and cyclists. An existing body of water will be incorporated into the community and will serve to protect the wetland.
Brighton is expected to accommodate 6,432 homes-44 % single family (2,744) and 56% apartment (668)/townhouse (2,095)/condos (925).
If you are interested in learning more about the Brighton area or are interested in real estate there, contact me and I would be happy to direct you to reputable builders in the area.
Kari Calder
Saskatoon real estate agent
Century 21 Fusion
The cost of owning a home just became a bit more affordable
Deciding whether or not to buy a home in Saskatoon? This might just push you over the fence.
Investors Group just released what is believed to be the lowest rate offered on a variable rate loan, offering a mortgage interest rate of 1.99%.
The company is offering 1.01 percentage points off its prime rate of 3% for a variable rate mortgage. Qualified applicants can nab this deal for a 36 month term.
The offer isn’t available to mortgage brokers but is available from the company directly. It’s intention is to secure a larger share in the marketplace and draw in new clientele.
This deal is available for a limited, undisclosed amount of time and does come with a few conditions. Most notably, you are unable to break the mortgage unless you sell your home. It does however allow a person to double up monthly payments and pay a lump sum of 15% of the mortgage every year without penalty.
What does this mean for consumers? Lower rates mean that affording a home in Saskatoon might just be that much easier. If you are considering buying a home in Saskatoon, contact me and I’d be glad to assist you through the process.
Kari Calder
Saskatoon real estate agent
Century 21 Fusion
Saskatoon real estate market update for April 2014
The April 2014 Saskatoon real estate market improved slightly from 2013 where 437 houses for sale in Saskatoon sold. This year we saw the market increase it’s sales with 452 houses in Saskatoon selling for the month of April.
The average home price in Saskatoon didn’t see significant changes with the average house price at $352,656 for 2014. This is up 4.0% from last year’s $340,507 in April.
Currently, the average time to sell a house in Saskatoon has increased from 40 to 49 days.
By the end of April, homebuyers in Saskatoon had 1,415 homes to choose from with 441 of those being condos for sale in Saskatoon.
Listing inventory in Saskatoon has increased with 884 new house listings in Saskatoon in 2014 while in 2013 we saw 751 new units placed on the market, signifying a large increase of 18%.
If you are looking for a qualified and experienced Saskatoon real estate agent, contact me for more information or to set up a meeting to discuss the current market and all your real estate needs.
Kari Calder
Saskatoon Real Estate Agent
Century 21 Fusion
