Market Predictions for 2025
Before we begin, repeat after me: THE MARKET IS NOT BAD. Yes, it is tight, it is fast, and it is tough at times. But it is not bad. I am hearing so many people feel discouraged, and even many other agents (sorry, what?!) complaining about how terrible the market is.
Now here’s the (very, very important) thing - Entering the market with a scarcity mindset and a sense of panic is not going to bring you the bounty you need and want. And having an agent who feels this way will sink you to the bottom even faster. Our industry is losing agents left, right, and centre as they struggle to connect with folks in meaningful ways, lack expertise and an abundance mindset, and do not find success for their clients.
You need to work with someone who is going to flow with you in the river of optimism and confidence in order to find success. Honestly, the past three years of this “bad” market have been the ones in my career thus far where my families and I have bought more homes than ever! Why is this, in a time where things are so hard? Because the homes exist! It’s a matter of believing that, finding them, being patient, and being ready to strike when the time is right.
Now, onto the Market Predictions for the next year! Let me preface with stating I do not have a crystal ball. I do however live in the housing market day in and day out, I am in constant discussion with a lot of buyers, sellers, and agents, and I have a keen eye and love for watching statistics and indicators of trends.
And with that, here are my thoughts on what we will see this year:
An increase in (resale) housing supply - This is good news, but I believe that the rate of buyers entering the market will also increase. See below.
More buyer demand - Although we may see less immigration overall, Saskatoon remains among one of the most affordable Canadian cities to own a home. As such, we see more people migrating here from other Canadian locations. Furthermore, interest rate drops and many first-time buyers who are new to market will be a huge driving force. I suspect we will continue to see tough competition, especially in the 350-550K range.
A continued increase in home prices - The demand will still be stronger than the supply, maintaining the Seller’s Market we’ve had for several years. Home prices will increase as buyers strive to outcompete one another.
Spring Market will start… right about now - Well, maybe not quite yet, but I think we will see an early start. There are many buyers who did not find homes last year and continue their search into this year. Add that to the influx of new buyers, and voila - the race is on!
Buyers and sellers are gravitating towards agents with wisdom, experience, and a track record of success - Many people people are foregoing agents they’ve used in the past or friends/relatives/etc, in favour of agents who are fast, responsive, and have strategies to stay and pivot within the market successfully. In the midst of this crazy time, I am gearing up for another amazing year.
So, that means this 👇🏼👇🏼 for you this year:
BUYING? Start HERE to help get yourself up to speed and ready to roll.
SELLING? Come HERE to make sure you’re running with the best of the best.
My client list and connections are stronger than ever, and I am so excited to be a part of each and every journey ahead! Can I count you in too? Reach out and let’s chat!
~ Jenny