Comments on: Western Canada’s Real Estate Boom Hitting Saskatoon

By: Doug

Doug — Sat, 17 Jan 2009 22:00:16 +0000

And now real estate bust is hitting Saskatoon!
With prices down 15% since June 2008 (front page Star Phoenix) or over $44,000 down!! Inventory is TRIPLE what it was last year, sales down over 20%. Massive potash and uranium lay offs etc.

Some realtors continue the scare tactics, from Team Toledo ” So you buyers out there don’t delay or you will be sorry.” Seriously!

Home prices are going down in Saskatoon.
Will they fall another 5 to 10%? or a bigger drop, maybe another 20%?
No one knows.
But with listings continuing to be above seasonal levels (triple) and sales down, and the commodity crash, both the local economy AND local real estate inventory are in a very WEAK position – so expect prices to fall more!

By: Conrad

Conrad — Sat, 26 Apr 2008 09:09:45 +0000

I would also like to point out “the young family that moved to Calgary for work from Saskatoon can[NOT] now return with a pocket load of money to invest in a home in Saskatoon” as housing in Saskatoon is nearly as expensive as Calgary and maybe just as expensive, when considering that housing in Saskatoon is typically older and smaller, since it did not have Calgary’s decade of strong growth.

Also, as Jim says above, and is on Fisher’s blog as well, Saskatoon is more expensive than Edmonton, so the family will lose money in the move from Edmonton to Saskatoon!

How things have changed in one short year!
Except for wages, people in Saskatoon still make way less per year than Calgary, and according to Norm himself, people in Saskatoon still make 8% less a year than in Regina, which is still actually affordable and actually the centre for oil and farming in Saskatchewan, the two supposed industries that are driving increases in housing prices. http://www.teamfisher.com/

By: Conrad

Conrad — Sat, 26 Apr 2008 09:04:11 +0000

I agree with Jim. This is funny because the “boom” has hit Saskatoon and is likely over. According to Fisher’s blog postings, inventory has increased consecutively for the past 6 weeks. Booms done. What a year. I also find “prices in these large cities have started to drive up housing costs in the second tier cities such as Saskatoon.” above kind of funny. Second tier city. Wow, that’s a burn.

By: Jim

Jim — Fri, 25 Apr 2008 18:09:52 +0000

I think this June 2007 post is amusing. Yes all that happened people did move here. But now Saskatoon is more expensive than Edmonton. And Saskatoon is an over priced boom town. Will people move back to Edmonton? With a new Alberta Advantage, adding cheaper housing to higher wages, will we see a new wave of university grads, especially engineers, science students and commerce students moving to Edmonton, Calgary, and even Red Deer and Medicine Hat? For affordable housing? Or will Sadiq be correct, will people just bypass Saskatoon and move on to Manitoba, as Winnipeg is a metropolitan big city, with a good university and now cheap housing.

Either way. If people moved to Saskatchewan for affordable housing, it is now more expensive than many other places in Canada. Many of those places have higher wages. I think Saskaboom will soon become Saskabust as people here cash out on the huge gains in their houses and move to cheaper housing elsewhere. A good time to retire to the States/Phoenix. A tough time to stay in Saskatoon as a new university grad. Especially since wages are still relatively low compared to many other big, and now cheaper, cities (Regina, Edmonton).

By: sadiq ansari

sadiq ansari — Mon, 20 Aug 2007 02:03:56 +0000

i want to invest in MB housing market