Comments on: Saskatoon real estate week in review: January 18-22 2010

By: Saskatoon real estate week in review: January 17-21, 2011 | TeamFisher.com

Sat, 22 Jan 2011 18:07:07 +0000

[...] After coming back with a vengeance during the first week of 2011, new listing activity slowed again for the second week in a row as Saskatoon real estate agents brought just ninety-eight single-family home and condominium listings to the local MLS® system. The weekly totals mark a week-over-week decline of fifteen properties, and twenty-five fewer homes than were offered for sale during the same week last year. [...]

By: Jesse G

Jesse G — Mon, 01 Feb 2010 22:22:57 +0000

I could be wrong but years ago I thought that the whole house prices as an amount times one’s income, being the median income was for ONE income, now at least it’s stated as median HOUSEHOLD income. This is at least an explanation of how things have changed over the years with most families probably going from a 1 income household to a 2 income (plus) household.

By: Nick

Nick — Tue, 26 Jan 2010 23:49:27 +0000

… Saskatoon is still less affordable than nearby Edmonton, and Ottawa with ultimate job security

By: Norm Fisher

Norm Fisher — Tue, 26 Jan 2010 23:10:24 +0000

Malcolm,

I’ve been away for two weeks so I can’t really say. I ran into a fellow agent at the airport yesterday who said, “the market is extremely busy.” He seems to think that there’s a lot going on. We’ll have to see how things shake out by month’s end.

Travis,

The “third annual demographia survey” released in early 2007, and based on data collected in Q3/06 placed Saskatoon amongst the “most affordable” markets in the world with a “median multiplier” of 2.6. This was the first time Saskatoon was evaluated in this particular study and of course, we’ve seen a hefty erosion of affordability in each study since that time, until this year’s which shows a slight improvement.

By: Travis

Travis — Tue, 26 Jan 2010 22:15:59 +0000

Hey Norm,

Any idea what the normal price-to-income ratios were like before the boom? Seems to me that it would’ve been about 2-2.5 in 2006. I’d be interested to know what it’s been like over the last decade or two.

By: Malcolm Johnston

Malcolm Johnston — Tue, 26 Jan 2010 20:56:59 +0000

What would account for the weak month in Saskatoon? It seems a little out of step with other markets that are having great months this January.

By: Norm Fisher

Norm Fisher — Tue, 26 Jan 2010 17:26:55 +0000

Thanks cyn_d. A slight improvement from last year, believe it or not. We went from 4.6 to 4.4 times median income, and we went from 27th in Canada to 21st on the national rankings.

By: cyn_d

cyn_d — Tue, 26 Jan 2010 14:53:06 +0000

Just got this from Garth Turner’s blog. It is the affordability report. Saskatoon is on page 42 as being 4.4 times the income.

http://www.demographia.com/dhi.pdf