If you want or need to sell your current home, one thing you might be wondering is, “How will we find and buy our next dream home?” Fortunately, there’s no mystery to how to do that. Simply follow the “golden rules”!

1. Create a profile. Decide what kind of home you want to buy. Consider the type of building, size, number of bedrooms, property features, and other details. When you have a clear idea of what you’re looking for, you’re more likely to find it. You’ll also be less likely to waste time seeing listings that aren’t a good fit.

2. Target ideal neighbourhoods. Where do you want to live? What areas are likely to be a good fit with your desired lifestyle? What sort of neighbours do you want? What area features, such as schools, do you need close by?

3. Pre-arrange any required financing. Will you need a mortgage? Make those arrangements in advance. That will give you peace-of-mind in knowing you’ll be able to buy the home you want. Also, a pre-arranged mortgage makes your offers stronger.

4. Get on an alert list. Not all new listings are advertised or posted online right way. So, arrange to be immediately alerted to new listings that match your criteria. That way, you’ll be first in line.

Following these tips will go a long way toward getting you into the home of your dreams.

It seems like every month there is a new website offering deals on everything from electronics to travel. In fact, the “coupon industry” is booming.

This trend has conditioned people, more than ever before, to look for bargains and become determined to pay well below the market price for merchandise. There’s nothing wrong with that. We all want a deal!

But when it comes to shopping for a home, bargain hunting can be a bad idea.

First of all, the real estate market is competitive. The overwhelming majority of homes sell for a price that is at, or close to, their respective market values. Your chances of finding a property that is listed significantly below its market value is slim to none.

Secondly, if you become fixated on finding a bargain, you may not notice all the great properties on the market that are within your price range and meet your criteria.

In other words, you may inadvertently pass on what may, in fact, be your next dream home. So when shopping for a new home, focus on finding the right property at the right price, not on finding a bargain.

Saskatchewan reported 999 sales in February, a 17 percent year-over-year gain and 24 percent above long-term, 10-year averages. Although February sales followed common seasonal trends in rising above activity levels from the month prior, the pace of growth was significant and well above levels typically seen for this time of year.

While there was a slight year-over-year increase in new listings, an eighth consecutive month of above-average sales prevented any supply growth – resulting in a 17 per cent year-over-year decline in inventory, with inventory levels sitting nearly 38 per cent below 10-year trends.

“Despite inventory levels being at their lowest point reported in February since 2006, strong detached sales are again leading another month of above-average sales in our province,” said Association CEO, Chris Guérette. “Buyers are acting swiftly when new supply comes onto the market, preventing any inventory growth – even more so in our larger centres. This strong demand is driving price gains in many markets across the province.”

Saskatchewan reported a provincial benchmark price of $330,800 in February, up from $319,600 in January and nearly 5 per cent higher than February 2023. While row/townhouse and apartment-style properties experienced the largest year-over-year price gains, the detached sector reported the highest month-over-month price gains in February.

“Though it is a small sample size right now, a month-over-month jump of over $10,000 in the provincial benchmark price is significant, with some markets reporting monthly increases in excess of $15,000,” said Guérette. “We’re quickly approaching a busy spring market, and the inventory situation in many markets across our province is showing no signs of improving. We’ll continue to monitor closely how these supply challenges are impacting prices.”

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Regional Highlights
Many regions of the province reported increased year-over-year sales activity in February, with the largest gains occurring in the Swift Current-Moose Jaw and Regina-Moose Mountain regions.

Inventory challenges continued in the two largest regions of the province, with the Regina-Moose Mountain and Saskatoon-Biggar regions reporting under four months of supply.

Price Trends
Prices trended up across most regions of the province in February, with the largest monthly gain occurring in the Saskatoon-Biggar region, followed by the Regina-Moose Mountain region.

With prices nearly 10 percent higher than in February 2023, the communities of Moose Jaw and Meadow Lake experienced significant year-over-year price growth in February. Meanwhile, Saskatoon, Regina, Estevan, Weyburn, Melville, Humboldt, North Battleford, and Prince Albert are all reporting year-over-year price gains in February.

City of Regina
The City of Regina reported 273 sales in February, a year-over-year gain of over 33 per cent and nearly 50 per cent above long-term trends.

While we typically see seasonal inventory gains in February, another month of strong sales resulted in a 25 per cent year-over-year inventory decline, with inventory levels sitting 40 per cent below long-term, 10-year trends.

The City of Regina reported a benchmark price of $310,600 in February, up from $301,900 in January and over 3 per cent above February 2023.

City of Saskatoon
The City of Saskatoon reported 309 sales in February, a year-over-year gain of 22 per cent and 20 per cent above long-term, 10-year averages.

Despite some new listing relief in February, strong sales prevented any inventory gains as the Bridge City reported a year-over-year inventory decline of 26 per cent, nearly 50 per cent below long-term trends.

The City of Saskatoon reported a benchmark price of $388,300 in February, up significantly from $372,800 in January and nearly 6 per cent above February 2023.