Comments on: A closer look at the Saskatoon real estate statistics for October 2009 http://www.teamfisher.com/a-closer-look-at-the-saskatoon-real-estate-statistics-for-october-2009/ We're bringing Saskatoon real estate to life Tue, 27 Jul 2010 14:53:21 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Peter http://www.teamfisher.com/a-closer-look-at-the-saskatoon-real-estate-statistics-for-october-2009/#comment-13907 Peter Sat, 07 Nov 2009 16:06:45 +0000 http://www.teamfisher.com/?p=5264#comment-13907 On the positive side, stats canada released their numbers and unemployment in Saskatchewan is now far and away the lowest in the country. Nation-wide unemployment is at 8.6% while Saskatchewan is only at 5.3%. Second place seems to be Manitoba at 5.8%. Alberta is clocking in at 7.6 and BC 8.3. You cynics can be damned. Saskatchewan is still a safe-haven. http://www40.statcan.ca/l01/cst01/lfss01c-eng.htm On the positive side, stats canada released their numbers and unemployment in Saskatchewan is now far and away the lowest in the country. Nation-wide unemployment is at 8.6% while Saskatchewan is only at 5.3%. Second place seems to be Manitoba at 5.8%. Alberta is clocking in at 7.6 and BC 8.3.

You cynics can be damned. Saskatchewan is still a safe-haven.

http://www40.statcan.ca/l01/cst01/lfss01c-eng.htm

]]> By: Steven http://www.teamfisher.com/a-closer-look-at-the-saskatoon-real-estate-statistics-for-october-2009/#comment-13903 Steven Fri, 06 Nov 2009 23:13:21 +0000 http://www.teamfisher.com/?p=5264#comment-13903 Jason you could've kept the DeLorean at Doc Brown's. My monthly MACD on price still indicates an ongoing downtrend from Aug08. Even the most recent surge in sales did not cross the MACD over its signal line. My monthly sales MACD is hinting at a current peak in sales. Sales MACD did cross up and over signal line in May09. Daily trends (data used: Norm's daily tweets) is showing downtrending from Jun09 with a big spike in listings at beginning of Aug09. The highs and lows in price, sales, and listings are moving lower. Hope that helps you out L.oki Thanks for the tweets Norm. Jason you could’ve kept the DeLorean at Doc Brown’s. My monthly MACD on price still indicates an ongoing downtrend from Aug08. Even the most recent surge in sales did not cross the MACD over its signal line. My monthly sales MACD is hinting at a current peak in sales. Sales MACD did cross up and over signal line in May09.

Daily trends (data used: Norm’s daily tweets) is showing downtrending from Jun09 with a big spike in listings at beginning of Aug09. The highs and lows in price, sales, and listings are moving lower.

Hope that helps you out L.oki

Thanks for the tweets Norm.

]]> By: Norm Fisher http://www.teamfisher.com/a-closer-look-at-the-saskatoon-real-estate-statistics-for-october-2009/#comment-13895 Norm Fisher Fri, 06 Nov 2009 17:36:29 +0000 http://www.teamfisher.com/?p=5264#comment-13895 Jason, Yes, Toronto and Vancouver are rather mind boggling. <a href="http://www.yattermatters.com/real-estate/vancouver-average-price-october/" rel="nofollow">In October, Vancouver agent Larry Yatkowsky</a> has apartments and attached homes at record levels and single-family homes pushing towards them. We have 145 houses priced 250-350, so a 1.7 month supply. Condos priced 150-250 are at 101 units, or a 1.9 month supply. Jason,

Yes, Toronto and Vancouver are rather mind boggling. In October, Vancouver agent Larry Yatkowsky has apartments and attached homes at record levels and single-family homes pushing towards them.

We have 145 houses priced 250-350, so a 1.7 month supply. Condos priced 150-250 are at 101 units, or a 1.9 month supply.

]]> By: Jason http://www.teamfisher.com/a-closer-look-at-the-saskatoon-real-estate-statistics-for-october-2009/#comment-13894 Jason Fri, 06 Nov 2009 17:24:26 +0000 http://www.teamfisher.com/?p=5264#comment-13894 Norm, <i>Yes, unit sales are exceptionally strong, and people may be over-financing, but they’re not exactly going crazy with respect to offers and prices.</i> Agreed. I can't really offer a rational explanation for what's happening in Vancouver and Toronto, though - and I do think we could see some of that same behaviour manifest here (especially with any hint of higher rates or reduced amortization periods). Sorry if I missed the intended sarcasm, Rick. ;) Out of curiosity, what are we looking at for months of supply for housing and condominiums in the most popular price ranges ($250-$350k and $150-$250k, respectively)? Norm, Yes, unit sales are exceptionally strong, and people may be over-financing, but they’re not exactly going crazy with respect to offers and prices. Agreed. I can’t really offer a rational explanation for what’s happening in Vancouver and Toronto, though – and I do think we could see some of that same behaviour manifest here (especially with any hint of higher rates or reduced amortization periods). Sorry if I missed the intended sarcasm, Rick. ;)

Out of curiosity, what are we looking at for months of supply for housing and condominiums in the most popular price ranges ($250-$350k and $150-$250k, respectively)?

]]> By: Jason http://www.teamfisher.com/a-closer-look-at-the-saskatoon-real-estate-statistics-for-october-2009/#comment-13893 Jason Fri, 06 Nov 2009 17:01:10 +0000 http://www.teamfisher.com/?p=5264#comment-13893 Thank-you for contacting me. I am currently away on leave, traveling through time and will be returning last week. Thank-you for contacting me.
I am currently away on leave, traveling through time and will be returning last week.

]]> By: Norm Fisher http://www.teamfisher.com/a-closer-look-at-the-saskatoon-real-estate-statistics-for-october-2009/#comment-13892 Norm Fisher Fri, 06 Nov 2009 16:18:04 +0000 http://www.teamfisher.com/?p=5264#comment-13892 L.oki, No problem! I'll be in touch as soon as I return. L.oki,

No problem! I’ll be in touch as soon as I return.

]]> By: L.oki http://www.teamfisher.com/a-closer-look-at-the-saskatoon-real-estate-statistics-for-october-2009/#comment-13891 L.oki Fri, 06 Nov 2009 16:10:19 +0000 http://www.teamfisher.com/?p=5264#comment-13891 Norm can you please go into the future and let me know if house prices are up or down next spring? We are looking at upgrading. Thanks :) Norm can you please go into the future and let me know if house prices are up or down next spring? We are looking at upgrading.
Thanks :)

]]> By: Norm Fisher http://www.teamfisher.com/a-closer-look-at-the-saskatoon-real-estate-statistics-for-october-2009/#comment-13885 Norm Fisher Fri, 06 Nov 2009 13:08:52 +0000 http://www.teamfisher.com/?p=5264#comment-13885 Jason, I can't be certain, but I think I'm detecting a touch of sarcasm in Rick's comment. "Don’t forget what happens to the last pigs at the trough my friend…" ...and how could we forget? Really, average prices are still down quite a bit from the peak. Using the three month average, condos are still down 12.3% and houses are off 7.4%. Houses clearly had a bit of a bounce through the first two quarters, but outside of that they've really been quite level. The three-month average price of a house is actually down a smidge from where it was at four months ago. Yes, unit sales are exceptionally strong, and people may be over-financing, but they're not exactly going crazy with respect to offers and prices. Our market is not "booming" by any definition I'm aware of and the most positive characterization I've heard from anywhere would be "balanced." It doesn't look like we're headed for an inventory crisis either. It has dropped a lot, but <a href="http://www.teamfisher.com/images/teamblog/actives1009.jpg" rel="nofollow">looking back at the history of active listings in Saskatoon</a> we can see that it's still a very generous supply for this time of year, and we are just about 60 days away from the time that it starts to grow again. Jason,

I can’t be certain, but I think I’m detecting a touch of sarcasm in Rick’s comment.

“Don’t forget what happens to the last pigs at the trough my friend…”

…and how could we forget? Really, average prices are still down quite a bit from the peak. Using the three month average, condos are still down 12.3% and houses are off 7.4%. Houses clearly had a bit of a bounce through the first two quarters, but outside of that they’ve really been quite level. The three-month average price of a house is actually down a smidge from where it was at four months ago. Yes, unit sales are exceptionally strong, and people may be over-financing, but they’re not exactly going crazy with respect to offers and prices. Our market is not “booming” by any definition I’m aware of and the most positive characterization I’ve heard from anywhere would be “balanced.” It doesn’t look like we’re headed for an inventory crisis either. It has dropped a lot, but looking back at the history of active listings in Saskatoon we can see that it’s still a very generous supply for this time of year, and we are just about 60 days away from the time that it starts to grow again.

]]> By: Jason http://www.teamfisher.com/a-closer-look-at-the-saskatoon-real-estate-statistics-for-october-2009/#comment-13884 Jason Fri, 06 Nov 2009 05:49:45 +0000 http://www.teamfisher.com/?p=5264#comment-13884 Rick, China is no longer merely interested in being a purchaser; they're now an active player - in oil, natural gas, wheat, potash, etc. - buying up land, mines, shipping, transportation and production capacity along with mineral and resource rights. Other than that I agree with your conclusion about inventory and prices (at least in the short-term), but I think a reality check is needed here as we're mere months away from an almost certain interest rate hike and potentially some changes to mortgages a lot sooner than that. Don't forget what happens to the last pigs at the trough my friend... Rick, China is no longer merely interested in being a purchaser; they’re now an active player – in oil, natural gas, wheat, potash, etc. – buying up land, mines, shipping, transportation and production capacity along with mineral and resource rights. Other than that I agree with your conclusion about inventory and prices (at least in the short-term), but I think a reality check is needed here as we’re mere months away from an almost certain interest rate hike and potentially some changes to mortgages a lot sooner than that. Don’t forget what happens to the last pigs at the trough my friend…

]]> By: Rick http://www.teamfisher.com/a-closer-look-at-the-saskatoon-real-estate-statistics-for-october-2009/#comment-13882 Rick Fri, 06 Nov 2009 03:58:02 +0000 http://www.teamfisher.com/?p=5264#comment-13882 It must be clear to all of us now that with our booming economy and our stock pile of resoures ,which are needed globaly, there is no end in sight for our booming housing market. Look for inventories to drop and prices to climb. Those who have not purchased better get on the bandwagon before prices rise further. If there ever was a better time to buy I don't know when that was. Our market looks truely solid with a hair-line crack not to be found anywhere. Just look at how the inventory has dropped if you need further confirmation as to where this market is going. I've never really considere how much a 250k mortgage is at these rates, but it's not really important as I'm sure home prices will be way higher 5 years from now. Just can't see any downside here. It must be clear to all of us now that with our booming economy and our stock pile of resoures ,which are needed globaly, there is no end in sight for our booming housing market. Look for inventories to drop and prices to climb. Those who have not purchased better get on the bandwagon before prices rise further. If there ever was a better time to buy I don’t know when that was. Our market looks truely solid with a hair-line crack not to be found anywhere. Just look at how the inventory has dropped if you need further confirmation as to where this market is going. I’ve never really considere how much a 250k mortgage is at these rates, but it’s not really important as I’m sure home prices will be way higher 5 years from now. Just can’t see any downside here.

]]> By: Norm Fisher http://www.teamfisher.com/a-closer-look-at-the-saskatoon-real-estate-statistics-for-october-2009/#comment-13875 Norm Fisher Thu, 05 Nov 2009 20:57:44 +0000 http://www.teamfisher.com/?p=5264#comment-13875 Jason, Prices have really come down on condos, so I'm not totally surprised, especially with these low rates. For anyone interested, here's a breakdown of single-family home activity in October. Under $100,000 - 1 $101-150K - 7 $151-200K - 21 $201-250K - 25 $251-300K - 54 $301-350K - 31 $351-400K - 24 $401-450K - 16 $451-500K - 6 $501-550K - 3 $551-600K - 3 $601-650K - 2 $651-700K - 1 $770K + - 2 ...and condominiums Under $100,000 - 10 $101-150K - 13 $151-200K - 30 $201 - 250K - 23 $251-300K - 18 $301-350K - 4 $351-400K - 5 $401-450K - 1 Jason,

Prices have really come down on condos, so I’m not totally surprised, especially with these low rates.

For anyone interested, here’s a breakdown of single-family home activity in October.

Under $100,000 – 1
$101-150K – 7
$151-200K – 21
$201-250K – 25
$251-300K – 54
$301-350K – 31
$351-400K – 24
$401-450K – 16
$451-500K – 6
$501-550K – 3
$551-600K – 3
$601-650K – 2
$651-700K – 1
$770K + – 2

…and condominiums

Under $100,000 – 10
$101-150K – 13
$151-200K – 30
$201 – 250K – 23
$251-300K – 18
$301-350K – 4
$351-400K – 5
$401-450K – 1

]]> By: Jason http://www.teamfisher.com/a-closer-look-at-the-saskatoon-real-estate-statistics-for-october-2009/#comment-13868 Jason Thu, 05 Nov 2009 17:32:27 +0000 http://www.teamfisher.com/?p=5264#comment-13868 <i>"Once again, Saskatoon condominium sales were exceeding all expectations as lower prices pushed unit sales higher to one hundred and three units."</i> I still can't get over the surge in condo interest the past few months, particularly in October. A lot of developers have got to be heaving a sigh of relief, though. Interesting with the 10 older (non-refurbished) sales; I wonder if we'll see more of these in lieu of 'condo conversions'. Saw a "for rent" sign in broadway the other day; couldn't recall the last time I actually saw one (seems like it's been a while). “Once again, Saskatoon condominium sales were exceeding all expectations as lower prices pushed unit sales higher to one hundred and three units.” I still can’t get over the surge in condo interest the past few months, particularly in October. A lot of developers have got to be heaving a sigh of relief, though.

Interesting with the 10 older (non-refurbished) sales; I wonder if we’ll see more of these in lieu of ‘condo conversions’. Saw a “for rent” sign in broadway the other day; couldn’t recall the last time I actually saw one (seems like it’s been a while).

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