Real Estate Information Archive

As always there are conflicting comments on the state of real estate in Saskatoon. We are hearing from the federal reports that real estate is expected to slow across the country. While this may be so overall, I don't feel that Saskatoon will see any slowdown. Prices have stabilized in the Saskatoon market and I expect they will rise some over the coming year.

The inventory is adequate with a fair amount to choose from overall. This maintains a balance in the market of supply and demand.

I have seen some resistance to the pricing in the higher price ranges. The buyers seem to be concerned about overpaying, and have again become tough negotiators during the buying process, While this is going on, we seem to have a shortage of large bungalows on the East side.

I expect we will see about a 2-3% rise over the coming year with most of the gains in the lower to mid range home prices.

It is nice to see the demand increasing for the $450,000 plus price ranges in the city.

I recently spent some time in Phoenix, Arizona (holidays in the sun). While there, I checked out the real estate enviroment in the Phoenix area. One of the more popular areas for Canadian's is Sun City (which is on the North West corner of Pheonix.)

Prices there are much different than here in Saskatoon. Anyone living here who complains about a price drop will feel wonderful if he/she compares price changes here at home to those in the Pheonix area. Houses that sold for $260,000.00 in 2007 are now selling for $140,000. - $170,000. in the good areas. Houses in some working class areas have dropped to as low as $80,000.00. (This is for an 8-12 year old bungalow, 1300-1600 sq. ft., with a double attached garage.)

The real estate environment is varied in different parts of the US. Some areas are hit harder than others. They are still reeling from a tough economy while we are stablilizing and starting to see some upwards movement in the lower to medium priced homes. Overall, we are much better off here in Saskatchewan.

Canadians that have money are a major buying force in the Phoenix market.

I came home feeling good about things back here other than the weather. The thing that I noticed even more than the weather are the bumpy streets.

It's still great to be home and among friends and my clients (who have become my friends).  Real estate is a great business to create friends for life.

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