POST #323: CURRENT MOIs BY CATEGORY

JOSH BUCHANAN

June 10, 2024

Saskatoon’s housing market currently has the most competitive conditions since 2007. I thought now would be a good time to look at the most important ratio for determining how competitive the market actually is and then applying that ratio to specific categories of homes in the market.

For starters, the ratio is the months-of-inventory ratio which I discuss all the time on the blog. Having 4-5 months of inventory is a balanced ratio where home prices stay flat. The further you get below 4 months, the more upward pressure you see on home prices. The higher the ratio gets above 5, the stronger the downward pressure you see on home prices.

Here’s a graph to demonstrate:

And here’s a chart to show the ranges and their outcomes:

Here’s a look at the current ratios for the three main property types and Saskatoon in general:

The ratios are surprisingly similar across all property types.

Here’s a closer look at detached houses by price range:

No surprise, houses selling for between $300,000 and $600,000 are the most competitive price ranges right now.

Here’s a closer look at attached townhouses by price range:

And here’s a look at apartment-style condos by price range:

And lastly, here’s a big fun party mix of properties in various categories:

The only categories out of all of the ones listed in the entire post that have oversupplied ratios are detached houses for $800,000+ and apartments for $400,000-$500,000. The most competitive neighbourhood on the list is Stonebridge, and the most competitive type of property are townhouses between $300,000 and $400,000.

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