What’s new in the Real Estate market these days?
- Things are moving as fast as they’re listed if properly priced and usually within a couple of days.
- Something I didn’t see coming was a record breaking lack of listings.
- The market didn’t slow down with a Provincial and Civic election so it seems all norms are being broken at this moment in Saskatoon Real Estate
When was the last time you saw this amount of listings in November?
- I believe the last time we saw this amount of listings this time of year was 2013
- For the last 5 years we have ranged around 1850 listings in Nov
- I think emotional buying has created an environment where people see them not being able to find a house and they think prices will keep increasing
- I also think people are scared of interest rates increasing and missing out on the opportunity
Do you think interest rates will increase?
- The Bank of Canada believes it will hold interest rates at least till 2023 so I don’t believe people should be in a panic they’re going to miss out
- The reason they will be holding interest rates and possibly lowering them is because the forecast for the Canadian economy isn’t looking strong for at least the next 2 years
- On the positive side waiting till the ideal property comes up that fits your needs won’t hold you back from locking in with a great interest rate
If people want to take advantage of selling in todays market what can they do?
- They can give us a call for a Free Evaluation
- We can then give advice on improvements they can make to get their best return
- Even if people are looking to sell in the new year and into the spring it’s always good to start decluttering your home and working on bigger projects as we know people are busy