Saskatoon, Saskatchewan has always been a healthy and competative real estate market with a manageable amount of active MLS listings to choose from. 2015 has proved to be a little different because of a high number of active MLS listings to choose from. This time last year, Saskatoon, had 1409 active MLS listings. Fast forward one year and we have 1864 (674 are townhouse or condo) active MLS listings. The high number of listings has caused sellers to be very competative with their asking price especially if they're motivated for a quick sale.
What does this mean for potential buyers? Buyers can "cherry pick" their next property purchase because of the many options available. Buyers can be more aggressive with their offering price. Buyers have access to low mortgage rates which means it can be significantly cheaper to own a house versus renting a house.
Now is a great time to look at your buying options and to use your options to your advantage because it's a home buyer's paradise!