Saskatoon Real Estate Down YOY

Posted on Thursday 12 March 2009

Saskatoon’s “new housing price index” is down 2.7% from January 2008 to January 2009.

Meanwhile, Regina’s “new housing price index” is up 21.7% for the same period.

Year over year price drop in Saskatoon?  Inventory still growing?  Big layoffs?  Apparently Regina, not Saskatoon, is doing better of the two Saskatchewan cities housing wise.  Then again, Regina was a bit of a late bloomer, with housing prices taking longer to take off.  Saskatoon on the other hand, had prices over shoot the Canadian average, to the point that Saskatoon was (is) one of Canada’s most expensive places to live (and its most dangerous).

http://www.statcan.gc.ca/daily-quotidien/090311/t090311c1-eng.htm

(addition) … and just to show that Saskatoon prices falling was expected and not news to us, Merrill Lynch, or local realtors, here’s a story from all the way back in August http://www.teamfisher.com/blogs/norm_fisher/archive/2008/08/08/merrill-lynch-says-saskatoon-real-estate-overvalued-as-much-as-50.aspx.


3 Comments for 'Saskatoon Real Estate Down YOY'

  1.  
    Realist
    March 17, 2009 | 2:04 pm
     

    Inventory is now actually at 1343 residential properties as of March 13, 2009 (teamfisher.ca) but just look at how much higher the 2009 inventory is than what it was over the past SEVERAL years!

    http://www.normfisher.ca/images/teamblog/troysgraph.jpg

  2.  
    Nick
    March 17, 2009 | 4:19 pm
     

    http://www.srar.ca/Srarstats.php3#MonthAnu

    Multiple stats from the “Saskatoon Region Association of REALTORS®” on Saskatoon real estate. Funny their press releases are always so positive. Their numbers, Listings up 28%, Sales Down 36% year to date (2009) sure don’t back up the usual “boosterish” optimism. Good resource if trying to value a home for sale or purchase… or to consider not buying in Saskatoon because the market is “seriously unaffordable” based on wages alone, even more so when the glut of houses that aren’t selling is taken into account.

  3.  
    March 23, 2009 | 12:28 am
     

    Kind of po’d you offed my comments!

    Can’t post on the realtors’ site because they won’t let blog posts up that show how weak the real estate market in Saskatoon is. Can’t post here, because you won’t allow a good debate. Inventory will be over 1,400 within days. Almost 30 weeks of inventory. Saskatoon’s real estate market is horrible, and no one will let the public know. Censorship!

    Done posting on here. You guys get good stuff up and sooner than most but are gutless and won’t let the public point out all the individual crooked realtors in Saskatoon who blatantly hide the truth that the market is crashing. And prices should be too.

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