A closer look at our closer look reveals the sky is not falling on the Saskatoon real estate market
On April 15 when I posted my “Closer Look at the Saskatoon Real Estate Statistics for March, 2008,” I expressed some concern about the accuracy of the numbers and even included a disclaimer warning that there may be some accuracy issues. Indeed, there were. That post has been updated today and I can’t guarantee that it won’t require another update at some future point.
While most of our statistical reports use data based on the date that the sale was reported, our “Closer Look” dissects the sales based on the contract date. We’ve chosen the middle of the following month as our reporting date, but as we explain in our “Data Collection and Calculation” page, there is always a possibility that more sales conducted during that period could be reported late.
My initial report included data based on 306 units which were showing as sold at the time that I published that report. By this weekend, the number had increased to 364 units, a pretty substantial difference, so I thought I should call this edit to your attention. These latest monthly figures are more in line with the weekly sales that we’ve been reporting in the Week in Review. While we are still showing fewer units sales year over year, the difference is actually quite marginal, at least in comparison to what was initially reported.
In reviewing the sales from March 2008, we see a decline in total unit sales of 6%. The number of single-family homes sold dropped 21% while condominium sales increased by 41%. Prices reported in our initial post were nearly identical on the update.
So, I extend my apologies to the bears that frequent this blog for getting you all excited. I’m sorry to have led you to believe that the sky might be falling on the Saskatoon real estate market.
I’m always happy to answer your Saskatoon real estate questions. All of my contact info is here. Please feel free to call or email.
Follow our daily updates on Twitter @SaskatoonHomes.
Norm Fisher
Royal LePage Saskatoon Real Estate
76 comments so far. We'd love to hear your thoughts.
May 13th, 2009 at 2:07 PM
there is some interesting stuff on bnn.ca
last week they had a few features entitled saskaboom.
here is a link to the video page:
http://www.bnn.ca/shows/past_archive.tv
click on a video and on the right a series of videos and a search will pop up. Type in Saskaboom and 8 videos will pop up. 2 have to do with real estate.
I think the first 5 mins are the same. In the one with Don Campbell(author 97 tips for real estate investors) skip to about 10 mins as it got wonky for me and despite showing 20 mins it is the same featue twice.
There may be some interesting discussion based on what they have to say.
May 13th, 2009 at 2:07 PM
Sky is not falling on Saskatoon, sure, but market is definitely weakening. Maybe just not until next week, or a few months. There are a lot of for sale signs out there. And better paying jobs and cheaper houses elsewhere too.
May 13th, 2009 at 2:09 PM
Norm,
It makes sense that single family home sales have dropped, but not condos. Condos are all most entry level buyers can afford right now! Not to worry, April’s stats will look better. ;’)
May 13th, 2009 at 2:09 PM
Jedi,
Thanks for the link. I’ll check that out today.
Grant and Heather,
There is a little more weakness in the weekly numbers for April. Assuming we don’t see a massive flood of sales this week we are likely to see a decrease in unit sales again.
May 13th, 2009 at 2:09 PM
Norm,
Hear say: Old woman (a guy would never say this) once said, the sky is only falling if you are standing under it.
If we adopt the lemming’s passion for following the crowd there is no doubt, at least to me, that the bears will prevail. The best I can make of this mess is that as long as the Bank of Canada is prepared to lower interest rates(they are calling for another reduction tomorrow) we will survive this – at least temporarily! All the fundementals are in place we are told. So all should be good! That is, until the bank shareholders demand a better return on their investment.
I’m no economist but it strikes me that what is missing in the equation are income levels. When will they start catching up? We can extend the mortgage to 40 years – I call it the “rent to own mortgage” – but, this seems so hopeless when one of your jobs is being a barista at Starbucks earning $10/hr. The other two jobs pay $8.50/hr. This makes it tough to get the kids to school with three jobs.
As a fellow Realtor, and here is where my career and life ends – I predict that the mantra of “right to own a home” will change to “you are lucky if you get a chance to own a home”. Forgive me, what am I thinking! Isn’t that already the case for so many?
Reflect if you will, and ask if we Canadians are destined to become a nation of renters? Does this explain in part why the Milroy types and others fight so hard to keep their homes. They are the Canadian renter fighting as hard as they can to keep their home. Not much different than any “homeowner”.
I surely don’t have all the answers (this, I accept as a new low in my life) but just in case, I think I will be buying a new steel umbrella, commonly referred to as property, to protect myself from the potential of a falling sky.
On a positive note – you always find the quarters on the ground. Where did I leave my spectacles?
May 13th, 2009 at 2:11 PM
To follow up on Larry comments; “I predict that the mantra of “right to own a home” will change to “you are lucky if you get a chance to own a home”. Forgive me, what am I thinking! Isn’t that already the case for so many?” Does anyone really want to own a home anymore? LOL!! I know everyone does, but if you are a first time home owner trying to pay off a $350,000 loan over 25 years, its going to cost you ~$580,000 over that period. That is alot of money to swallow!!!!! And thats if you can qualify for a 25 year loan. If your amortization period goes up, say to 40 years your looking at ~$770,000!!! Dam that’s alot. I make close to $200,000 a year and I don’t think I want to afford those prices. I’m actually looking at property in Brazil by the beach for $90,000 with my fiance and her family. i think I’m going to take my down payment and put it on that property instead of up here.
Lastly when I was taking engineering economics at the UofS (great school!!), my professor was adamant that any mortgage over 15 years is absolutely not a good investment. Also if you can’t pay it off in 15 years you really can’t afford it!! So I’m going to stick with his words and wait for the right place maybe in Sask, probably Ab now, that will meet these requirements for myself!!!
May 13th, 2009 at 2:11 PM
Wesco,
you make 200k a year plus money with the fiance and can’t afford a house here? That is around 20k a month and you don’t want to dish out 2500 for a mortgage?
I call bull$&^(. Either you are an investor hoping the prices crash so you can scoop up more properties or just gloating about how much you make or how much your family made by speculating.
Just so you know that by writing here won’t influence peoples decisions to buy or not buy. The market will do what the market will do.
May 13th, 2009 at 2:13 PM
Actually I’m an engineer in Fort McMurray and commute to Saskatoon every second weekend for a 5 day stay. My fiance is actually in university and quite frankly I’m waiting for her to finish school so we can decide where we want to live. I was hoping to purchase a house / condo (downtown) in Saskatoon, but now I don’t think its a sound investment. We have another 1.5 years till she’s done school and then we’ll buy something somewhere I imagine. But now with the price of real estate we’re looking to buy in Edmonton. And yes my parents have made money speculating (actually i think its a dirty way to make money, and I tell them that all the time!!! ), not me, i’ve only been out of school for 2 years and am putting the all my extra money right now into paying debts, travelling and partying.
Lastly I’m not trying to influence anyone, I could really careless what people do, I was stating what I was thinking, isn’t that what blogs are for?
May 13th, 2009 at 2:13 PM
And lastly your math isn’t very good, 200k per is only 16.6K a month just over 83% of 20K a month
May 13th, 2009 at 2:13 PM
Also when i said close to, it was actually $182 last year, so that works out to only 15.17K per month
May 13th, 2009 at 2:16 PM
“Just so YOU know” George, don’ think if I was a investor that I would be trying to “influence” people to buy, so that any property that I owned would go up in price??????????????????????????
May 13th, 2009 at 2:16 PM
Touche on the $10 an hour jobs. As long as prices go up, all the low income earners are gaining equity, but when the top out/go down, the $10 an hour (okay average is probably closer to $20 an hour) are the one’s who will be caught up in it, because for them, a mortage will mean sticking a huge amount of their income, into a house which may be worth less than when they bought it, meaning they are paying off the losses before building any equity. Again,the US said it couldn’t happen there. And Edmonton is now the affordable place to live, with Edmonton, and Fort Mac paying far more for engineers, scientist, McDonald’s et al.
May 13th, 2009 at 2:16 PM
ONLY 15k a month?
all kidding aside, I believe you now, sorry for that
May 13th, 2009 at 2:26 PM
“I was hoping to purchase a house / condo (downtown) in Saskatoon, but now I don’t think its a sound investment.”
Your absolutely right… partying is way better investment
May 13th, 2009 at 2:26 PM
LOL!! You know it. I’m still young!!
Enjoy it while I can, I hope not to be in Fort Mac forever!
May 13th, 2009 at 2:27 PM
Wesco,
Fat Lady will sing her new tunes “I Told You So” and Norm’s rendition of “It’s Not My Fault” at your parties for the price of a beer and some notchos. Of course, if you include sour cream and salsa she might even dance to “Remember Young and Foolish” previously recorded by the Young Turks as “Old and Homeless”. .>)
May 13th, 2009 at 2:29 PM
Just counting down the days to graduation, so I can sell my crummy condo and go buy me an awesome house in Alberta! Had been planning on staying here as of last year, but started looking last few days and I can’t believe it’s more here than Edmonton. Being an Oilers fan helps too! Unfortunately, stuff is still way too expensive there, but hoping I can get a bargain and be at 6 figures within a few years – Double what I’d make here. Congrats SK on being a victim of your own success!
May 13th, 2009 at 2:29 PM
Conrad,
Yes, you can make a little more money in Edmonton but double? I find that hard to believe. For my profession the difference is about 10-15k. You might want to check your numbers.
Other things to consider are that auto insurance is way higher in Alberta, especially if you are under 30. You also get less vacation.
May 13th, 2009 at 2:32 PM
Interested in a 40 year mortgage? Read this first – one of the better “make sure you understand the implications” post out there.
http://www.movesmartly.com/2008/04/is-the-40-year.html?cid=111054444#comment-111054444
May 13th, 2009 at 2:32 PM
it’s just a temporary cloud over Saskaboom, Norm! With all that oil, potash, wheat and don’t forget uranium, the sun’s gonna be shining on Sask for a long, long time. It just a matter of time….i think less than 5 years, before the world wakes up to the fact that nuclear energy is the only way to go, otherwise the lights will go out…no choice. france went nuclear in the ’70s..over 80% of its electricity is powered that way. no accidents to date. the Sask farmers will be selling their land for a killing because of the uranium under it…mark my words! buy lots of real estate!
May 13th, 2009 at 2:33 PM
Hey the average here may be similar to Alberta (I really have no idea, although I’d doubt it) but after a few years, there are some high end jobs in Alberta that just don’t exist here, for companies that pay way better for an educated in demand employee. And everyone always talks about lower insurance here, check it out, if you’re a decent driver, even remotely removed from your youth, insurance is pretty much comparable. The lower taxes in Alberta more than pay off the couple hundred bucks more I’ll be paying in insurance, plus gas is cheaper there.
May 13th, 2009 at 2:33 PM
And Maggie, Sask has always had all that stuff, including uranium, and places like Uranium City (see ghost town) and potash and all the other resources haven’t seen us boom since the 1930′s, what was our population then 900,000? 1,000,000 now? 10 % over 80 years? That’s part of the problem, everyone here is so pumped about accident prone 19 year old drivers getting cheap insurance, and uranium, which granted is a great option, but has been for a while and just isn’t cool like wind power, also, good uranium producing areas are all up north of where farmers, or really anyone is. Count down to moving to Alberta, which realizes the importance of managing and owning stuff. How many nuclear anything does Sask have? They just sell off natural resources.
May 13th, 2009 at 2:33 PM
Maggie,
Uranium are in the athabasca sand basin (very far up north). And every square inch is all bought up by many many corporations. I think you will have better luck south with oil.
May 13th, 2009 at 2:34 PM
Larry,
If I’m not mistaken, it was the bulls that got us into this mess in the first place.
And what the heck are notchos??? :’)
Norm,
I sure hope so!
May 13th, 2009 at 2:35 PM
Well all I know is that everyday the Saskhouses website goes up in inventory and there are 5-10 new houses put on homespoint2. Inventory is steadily rising and when spring hits then you’ll really see the huge increase. By the end of summer the market in Saskatoon is going to be saturated. Nobody is going to move there anymore, mark my words migration will be lost, if it isn’t lost already, back to Alberta. Alberta Advantage!! :-0
May 13th, 2009 at 2:35 PM
Bank of Canada cut their rates again. If buying a house or renewing your mortgage, variable rate looks good for the short term. You will save a bit over fixed rate.
May 13th, 2009 at 2:38 PM
Conrad,
I believe there is still a bit of a gap between our prices and Edmonton. The media got that wrong last month.
Edmonton average SFH is 385k. http://www.ereb.com
Saskatoon is about 330k.
With that said, I really believe speculation played a way bigger role in Edmonton than here. If you are planning a move to Edmonton I would wait a bit before buying. Many speculators are feeling the pinch there. Find a house you like that has been on the market a long time, vacant and offer a low ball offer.
Saskatoon has about 700 properties for sale.
Edmonton has just a tad bit more for sale. But not by much
http://www.polarissells.com/search_mls_map_form1.php
May 13th, 2009 at 2:39 PM
I can’t get over the amount of passive acceptance going on here. It’s like nobody has a spine to question anything.
Talk about lemmings. The market blows up from under you and everyone lets themselves believe they deserve the loss of opportunity.
Good god, that’s depressing.
It isn’t entitlement and nobody has the right to guilt anyone when they complain about low wages and unfounded cost increases.
Again…Look to the south. Who wants that?!
My Callum Captcha today: “text prolific”
May 13th, 2009 at 2:39 PM
The lower average price in Edmonton was a Royale Lepage survey, I found the link on thebench.ca, seems pretty comprehensive and official looking. I think the media based Saskatoon being more expensive on that.
“I believe there is still a bit of a gap between our prices and Edmonton. The media got that wrong last month”
And no one’s guilting anyone, just saying, I’m moving to Alberta to make more, pay less tax, slightly more in auto insurance (Ooh a couple hundred bucks) and pay less on housing. No rush though. And Saskatoon deserves a crash, for allowing real estate to double in a year and a half (and then pretending it’s from 10 years of growth). People just have to use common sense in realizing buy a house in Saskatoon for double what it was in 06, and more than Edmonton, and you risk losing money.
May 13th, 2009 at 2:41 PM
This whole group looks kind of off topic but kind of hilarious. Yeah, live in Alberta now. Make a lot more than what I was offered here a year ago, and house is still more than what I got it for. Can’t believe my house in Stoon would have been worth that much more if I had kept it. No worries, not like i had the money for both. Just can’t believe the house in stoon is worth more?!
May 13th, 2009 at 2:42 PM
Not sure 1/2 % will make up for the 100 k increase in prices since last year. Still makes it just as affordable to move to Edmonton.
May 13th, 2009 at 2:43 PM
Which way is real estate heading? Now we have a rate cut, it makes the payments better, but what happens when the interest rates begin the upward swing? How many people will be able to afford the houses then, plus how many will be able to keep the houses they have. Still pretty scarey out there. Are we heading like the States?
May 13th, 2009 at 2:43 PM
Heather D.
sorry ’bout that: nachos is the correct spelling. My humble apologies. But to be clear I understand they are a food basic of bears.
Bulls I’m told, frown upon this food choice as they seem to lose their jewelry in the sour cream. .>)
Trauzzi: me thinks that almost everyone is questioning but nobody has got an answer. I for one am dazed and confused. One day we’re in the s… house and a couple of days later all is good and the flag flys. Tomorrow the sun will rise as this post suggests. Spring is here, the bank rate is dropping – two positives.
May 13th, 2009 at 2:45 PM
To follow on Lynn’s question, when would we see the effects of an interest rate hike?
For the new buyers, if they take a 5 year fixed, i don’t imagine they would be happy about a hike but I am guessing thier concern is 4-5 years from now when they renew(including those bought last year)
i am not sure of the percentage of those renewing in the near future. Talking to some associates, they see a new american gov and would bet heavily on the rates being up 2% this time next year. American economy doing better as well(not out of the woods yet though).
I could see if the rates were up, esp if people are extending themselves now, having an effect in the coming years.
May 13th, 2009 at 2:46 PM
Larry,
Spring still isn’t here, could you pass some of it along please? The jewelry those bulls wear is gaudy at best, the sour cream (or salsa as I prefer) would do them a huge favour by engulfing it all.
Are you spitting popcorn kernels at me or did you lose an eye?!?!? .>) LoL
Lynn,
Bank of Canada has been lowering interest rates BIG TIME over the past 6 months, and mortgage rates are BARELY reflecting it! It’s not helping home buyers at all. Mortgages USED TO follow the Bank of Canada trends, but the banks are not budging…
Alex,
LoL, callum Captcha. Good on you! ;’)
May 13th, 2009 at 2:47 PM
Hey everyone!
Obviously you didn’t read the paper today! A new Remax study says that houses are still affordable in Saskatoon.
http://tinyurl.com/6grxfg
I think you’ll change your tune when you read this story. I know I was very glad to hear this news. So, quit your whining.
May 13th, 2009 at 2:47 PM
Norm,
Yeah I love the part about tearing down a drug house and paying 270K for a sub divided lot, that’s great. 270k in a well known drug trafficking and prostitution neighborhood. Where can I sign up on this “affordability”. At least you won’t have to go far for all lives necessities; meth, crack, prostitution and child prostitution and in a square block around your 270k house. I wonder which house gets broken into the most, hmmmmm……. that’s a tough one!!
May 13th, 2009 at 2:48 PM
a friend’s aunt lives in this mentioned area.she had to call the cops on a drunk stoned couple who broke into her car in her yard so they could well you know. police arrived during the display of affection and arrested them. and summer is just around the corner!
May 13th, 2009 at 2:49 PM
What a misleading article. Using their numbers for $180,000 over 5 years at 5.75% I got $1200 a month for the mortgate payments. What they forgot to mention, is to get to this number I had to put 10% down ($18,000) and this number did not include any property taxes nor mortgage insurance. Also, notice how they forgot to mention that the areas in discussion are the noted for the high rates of violent crime, drug problems, and other general ills. Yup, a great opportunity for young families wanting to start their lives in Saskatoon!
This article isn’t worth the paper its printed on.
May 13th, 2009 at 2:50 PM
My bad, did my numbers wrong. Estimating property taxes at 1.2 of purchase price and mortgage insurance at .43% the ball park number comes up as ~ $1280 a month. This is still using $18,000 as a down payment.
May 13th, 2009 at 2:50 PM
Also, where did they get the $265,000 average sale price number from? Haven’t we been over the $315,000 mark for the past couple of weeks?
May 13th, 2009 at 2:51 PM
Wesco,
BUT, you get a “Stonebridge quality” house for that.
Lori,
Sounds like a very “loving” neigbourhood.
Jason,
March was in the high 280′s, and yes, well over $300 over the last few weeks.
May 13th, 2009 at 2:51 PM
They call re-call this neighbourhood “STONEDbridge”!!
May 13th, 2009 at 2:52 PM
But it says right in the article that it’s lower by comparison than Vancouver.
So thst must make it affordable.
By the way.
I just heard the new alberta provincial budget is cuting out Health Care premiums.My benefit package covers this so I don’t see it affecting me but
this seems like a significant item in the overall Cost of Living comparison between our two provinces.
It’s alway s been kind of accepted that Saskatchewan has a lower cost of living overall than Alberta, but I think that could be challenged now.
May 13th, 2009 at 2:53 PM
Wesco,
Hey! You’re an urban planner. I like it!
Ken,
Correct! I don’t want to hear another complaint about prices until we’re higher than Vancouver.
That’s an interesting development on health care. I’m hearing that the oil royalties issue is probably a far bigger one though. The big producers from that area are pouring some pretty big bucks into Saskatchewan right now and it looks to me that their serous about making Saskatchewan a larger part of their overall production plans but I know these operations don’t set themselves up overnight.
Story made the front page of today’s paper. You better buy a house before you’re priced out of the market forever!!! Maybe even homeless.
May 13th, 2009 at 2:54 PM
Wesco;
Good one.
Norm
Funny how little it takes to get some folks breathles on this.
The royalties issue isn’t getting a lot of talk now. I felt it was a move that needed to be made. Saskatchewan will eventually not feel the need to keep royalties low to entice development and exploration. My only concern was the lack of incentives for development of refining facilities.
Hopefully Saskatchewan is able to establish a stable exploration industry that has facilities there. Not just roaming bands of opportunists out of Alberta.
I’m thinking there will be a lot of opportunities down in southern Saskatchewan sometime. But hopefully not another run up in house pricing.
May 13th, 2009 at 2:55 PM
BITE ME REMAX!!!
If I’m going to buy a grow-op house it’ll be in Sutherland, not King George thank you very much! See, it ALWAYS comes down to comparing affordability with Vancouver, where is the logic in that? I can’t believe they published this tripe. >:’/
May 13th, 2009 at 2:56 PM
Easier accessibility to mortgages including smaller downpayments and longer amortization periods have fueled the housing boom. I think most of us already knew this, but here is an article supporting it:
http://www.globeinvestor.com/servlet/story/GAM.20080423.RREAL23/GIStory/
Banks are going to be rolling in all the extra dough, while less young people are able to save towards their retirement. This MIGHT lead to some problems down the road…
May 13th, 2009 at 2:57 PM
Heather D.
re spitting popcorn – it’s a patch. I used to be a pirate. .>)
Since I’m big on transparency a change was necessary. To be discreat yet be cool I hid the imbalance by wearing sunglasses |>)
People got confused thinking I was a movie star. It distracted them from the task at hand of buying and selling their homes. Now, with one eye on the job at all times, the focus is singular in purpose.
Norm:
Re: ReMax report:
“Benchmark prices for condominiums in the Greater Vancouver area hover at $387,000, while those in Vancouver Westside are considerably higher at $498,000.”
Until recently, I thought the sound I kept hearing was the ocean wind blowing rusty signs that made that awful sound like finger nails on a chaulk-board. Such a young misguided one-eyed man I am!
Having taken the sunglasses off (for Heather D.’s benefit), I find the sound is actually coming from first time buyers standing in line for days on end in the pouring cold sleet waiting to buy a pre-sale condo.
It seems odd that they make that cold shivering sound when borrowed money is burning in their pockets.
Since W-D-40 (Wrong-Direction-40 yr mortgages) came out the volume has increased. Can you hear it? .>
May 13th, 2009 at 2:57 PM
A delightful article. I guess some companies must have gotten worried.
If any one can find a lot within the boundaries of Saskatoon for 80,000 dollars I’ll buy it, sight unseen, no matter where it is or what’s next door.
This doesn’t include mobile home pads or condo strata: just a plain old ordinary SFH on a lot. Or a lot that will take a SFH.
Oh, and I like the redesign, Norm. But why the autumnal theme? Are you giving up on spring altogether?
May 13th, 2009 at 2:58 PM
Larry,
For sure, but I think most of the “benefits” of the 40 year mortgage have already been eaten up by price increases here.
May 13th, 2009 at 2:58 PM
So agree on Heather… Comparing Saskatoon to Vancouver doesn’t make any sense to me…
If “Saskaboom” is real and people working in the energy/resource sectors can make $100K/yr here, they are just fine, for others, better leave if they haven’t had a house by now…
May 13th, 2009 at 2:58 PM
jrochest,
Oh-my-goodness! Seems it’s our lucky day! Let me know which one you prefer and when you might like to meet to write it up.
http://www.saskmls.ca/Matrix/Public/Email.aspx?ID=39641493
May 13th, 2009 at 2:58 PM
$270,000 to live in the ghetto?! You gotta be kidding me. All those people who say Crime “just happens in a small part of saskatoon” mean King George and the West End. Which means Canada’s 2nd highest crime rate, all apparently occurring in the West End. I’d rather live in a crappy condo conversion in a non-crack selling area.
‘”They will buy a little drug house or whatever on a 50-foot lot, knock it down, subdivide it and put up new construction,”‘ That is just insane! If you didn’t want to move to Alberta, maybe this will get you going!
http://www.canada.com/saskatoonstarphoenix/story.html?id=601f90e4-3ecb-4a93-a5b9-d78e5200ff4d&k=99508
May 13th, 2009 at 2:59 PM
Just in case anyone thinks that $270,000 is a bargain (star phoneix/remax article) for a King George house http://www.macleans.ca/canada/national/article.jsp?content=20080312_110944_110944
That area is just plain scary
May 13th, 2009 at 2:59 PM
I get a little tired of the west side bashing guys. While we’re on our way out of the “ghetto” as you all like to refer to it, we’ve always been happy in our west side home. Our neighbors are decent people, many with young families. And if you actually watch the crime stats, we have no more issues (in confed) that lawson or silverwood for the most part. Who wants to break into our homes here when they can go to a “better” area and get better stuff for their efforts? I guess I should qualify that to property crime. I don’t pay attention to much other than that in the paper. And yes, we have some graffiti issues. But I see it all over the east side too. It’s just that some property owners up here are too stinking lazy to clean it up.
May 13th, 2009 at 3:00 PM
Kind of funny to hear Heather D bringing up Vancouver affordability when the last time I attempted to argue the point it ended with ‘well have to agree to disagree’. Always the trademark comment of defeat.
May 13th, 2009 at 3:01 PM
Seller,
In fact, the last couple of shooting deaths which I recall were on the east side. You’re right about crime being everywhere.
Confederation Park is a fine area and I wouldn’t have a problem if my daughter wanted to buy a house there. I’ve lived there myself.
Best wishes with your sale.
May 13th, 2009 at 3:03 PM
Most recent murder was on an alphabet street and the last murder (on Taylor) was spitting distance from Exhibition and Circle IE NOT really east, and confed is no King George in crime stats. Seriously, go for a walk after dark for half an hour near 20 th/St. Paul’s… I wouldn’t either, but see little old ladies walking around my east end area
May 13th, 2009 at 3:03 PM
Jim,
There was the guy that got shot to death on Arlington a couple of years back.
I’m with you on that. There are some scary spots in the vicinity of the hospital where I wouldn’t go for a walk either.
The way I see it, some of those areas aren’t going to be serious options for first timers, who are typically young. If one doesn’t mind settling down in Confederation Park, Pacific Heights or any of the other areas which are that far west, I doubt you’ll find a 900 square foot bungalow in real good condition for $200,000. Not happening anymore.
May 13th, 2009 at 3:03 PM
To those flexing their comparative muscles, just so we are clear: -
Only one comparison exists between Saskatoon and Vancouver – both cities have exceptional realtors who work hard. Ahem!
WE are much more pretty and definitely not cheap!
However, I do think Saskatoon has better steaks at John’s. |>)
May 13th, 2009 at 3:04 PM
What about the Willows area, that seems to be going quite well and real estate is going higher there. Don’t get much for $600k. Will that area ever decrease?
May 13th, 2009 at 3:04 PM
Norm — Wow, I’m surprised — seriously.
So why doesn’t this one show up on MLS? I just looked.
May 13th, 2009 at 3:05 PM
jrochest,
It was just listed today. We load listings to the local MLS and then they get pushed to that website. Doesn’t happen in real time.
Hi Lynn,
I suspect those properties will move with the rest of the market. They’ve certainly been going up as the Saskatoon market has increased.
May 13th, 2009 at 3:05 PM
Something,
I always wonder if you’re slightly intoxicated when you read my posts? Your comments make no sense! And with that last “defeat” comment I’m forced to label you as a jerk. Job well done. I’m sorry you couldn’t agree to disagree.
Alisha,
You’ll find “Something” has pulled out the Vancouver card before. It is sad, but until the market becomes more balanced there’s not a lot of hope for entry level buyers. I do believe some of those changes are already starting to happen.
May 13th, 2009 at 3:06 PM
Norm, is a couple years ago the best you could to for an east end murder?
“There was the guy that got shot to death on Arlington a couple of years back”
See what’s happening in West End Duplex’s As of Two Days Ago? Not sure why this wasn’t the front page story Wednesday? Might have interrupted the Star Phoneix’s boosterism.
“Saskatoon Police Suspect Murder
By Benson McCulloch
Updated April 23, 2008 – 6:09am
Saskatoon Police believe they have a murder investigation on their hands.
A man was found dead early Tuesday morning at a duplex along the 300 block of Avenue S South.
Neighbors say there’s lots of action at that location – “there are police, ambulance, and fire trucks almost on a daily basis”.
The duplex is the same place where a man was dropped off by police only to be found frozen to death back in 2000.
Also the same address where a man was stabbed to death in 2002″
http://www.newstalk650.com/incoming/20080423/saskatoon-police-suspect-murder
May 13th, 2009 at 3:07 PM
Jim,
You’ve got me all wrong if you think I’m trying to make the case that some of these west end areas are safe. I was speaking to “seller”s point that crime does happen everywhere and that Confederation Park isn’t a “ghetto.” I’m sure it’s not perfect, but I see many hard-working families making a good go of their lives in this and other similar areas.
I’m well aware of what goes on and the severe social issues that exist through many of the “alphabet streets.” I don’t see them as a serious option for most first-time buyers.
May 13th, 2009 at 3:08 PM
H D,
When you said ‘agree to disagree’, I thought fine, I am cool with that. I even let you have the last word.
Then I see you blasting away, saying ‘See, it ALWAYS comes down to comparing affordability with Vancouver, where is the logic in that?’ So you don’t want to hear anyone’s opinion about saskatoons’s affordability in relation to vancouver. Fine, but at the same time you openly bash the argument. Really, who’s the jerk?
May 13th, 2009 at 3:09 PM
SDAU,
That’s very generous of you letting me have the last word, but wait, aren’t you still talking? I never claimed to be Mother Teresa, if somebody is being a jerk to me I’m not going to sit there and take it. I was making a general comment on the StarPhoenix article. Our conversation about Vancouver was over, I wasn’t talking to you, so how about you do me the same favour? Thanks. (I’ll let you have the last word if you want it)
May 13th, 2009 at 3:10 PM
So Vancouver, a large city, limited size wise on all sides by mountains, ocean, other cities, even if there was farm land, can’t build on it because of provincial law. A huge and vibrant immigrant population. An economy based on trade, commerce, business and tourism. Building up, no where to build out. Huge university, booming in size.
Saskatoon, a small city, with strong natural resource and farm supply roots. Surrounded by farm land, just waiting for enough high school kids to realize construction and trades are a good career and swear off the liberal arts degree. Only impediment to growth is lack of labour and some day running into Blackstrap mountain. Moderate university, struggling to keep enrollment level, some fancy light thing that now seems to be in financial trouble. Wishes it was as successful as Winnipeg at attracting immigration.
Main source of population is home sick boomers trying to get in while housing here is cheaper than Alberta, which it isn’t now in a lot of situations.
Pretty fair to say nothing about these two cities are similar, other than being Western Canadian cities and our produce being shipped out of Vancouver. Vancouver is full with no where to go but up (expensive) making anything low to medium density desirable. Saskatoon has everywhere to go once it gets workers, meaning a home in Briarwood, not a big deal, building costs go down, and those endless fields beside you can fit a million more.
May 13th, 2009 at 3:11 PM
Conrad,
Let’s be very, very clear here as I am getting sick of reiterating. I was not making a comparison between Saskatoon and Vancouver. I was making a comparison between the ability of a Vancouver resident with a vancouver income to afford a house in the city versus the similar situation in Saskatoon. I do NOT think Saskatoon prices should be the same as Vancouver nor did I ever say anything of the kind. All I am saying, is that as far as raw economic affordability, based on vancouver income level to house price ratios, we are not at the peak of THAT metric yet.
Hey, if you are going to call me on the things I say, why don’t you have some idea of what I am actually saying first?
Heather,
When you post comments on a group message board you are talking to everybody. You throw these general comments around and then you get annoyed when people call you on them. Don’t post if you can’t handle counter arguments.
May 13th, 2009 at 3:12 PM
On Kijiji there are a couple town houses up for under 200,000, I think they were listed minimum of 230,000 up to a month ago, I would say this is the sky falling! Not bad, they were 110,000 new, 3 years ago, so anyone but a speculator is still selling at a pretty decent profit. Just 30,000 off peak.
May 13th, 2009 at 3:12 PM
SomethingDoesntAddUp, I wasn’t commenting on your post, I didn’t read your original, and I won’t now, well I will after posting this, cause I’m curious what you’re so defencive about.
I just think in general we always here a broad “well Saskatoon is cheaper than Vancouver/Toronto” or some place that has nothing in commmon with us and had noticed Heather had mentioned something about comparisions to Vancouver and thought I’d throw in my 2 cents. That’s what I was pointing out, the dichotomy. Because many out there, including the Star Phoenix, think it’s worthy to say, hey it’s okay for a house to be stupid expensive here, because we could be Vancouver. I stand beside my other comparison and like the song says “You’re so vain, you probably think this song is about you” – Well this one was, the initial one wasn’t
May 13th, 2009 at 3:13 PM
If we’re comparing cities, let’s compare Saskatoon to Regina. Similar economy, wages thousands more a year (always has been) similar size (okay a bit smaller) and houses anywhere from 50,000 to 100,000 cheaper. Yeah, I know if you’re from Saskatoon you don’t like Regina, and I know that if you’re from Regina, them not liking you is news to you, but they are comparable cities. And Regina just happens to be a lot cheaper to buy a house, a $270,000 drug house in Saskatoon’s King George buys you a nice east end Regina house.
And again, the higher wages, and secure crown corp jobs, and a university with 2/3′s the student enrollment. Yes the river > man made lake, but Wascana park has a science centre/IMAX, outdoor pool, provincial museum, art gallery, rowing club, the U of R, waterfalls (Kiwanis), bandstand, paths, fountains, the legislature, centre of the arts, restaurant, outdoor skating rink, old U of R campus, provincial sound stage, a lot of picnic grounds, bridges a few islands, a ferry etc. Not to get into a who’s better contest, but it is a surprisinlgy comparable city which is cheaper. No one says “Wow, we’re sure a lot more than Regina” instead, it’s always, “Wow, sure glad my house is cheaper than in Vancouver” which has nothing in common with Saskatoon.
May 13th, 2009 at 3:17 PM
SomethingDoesntAddUp, I still don’t see your original Vancouver comment above. I’m sure it was a really good comment. I’ll take your word for it.
May 13th, 2009 at 3:17 PM
Conrad,
I completely agree, comparing Saskatoon to Vancouver is like comparing apples to oranges. I also agree with your other points too.