22 comments so far. We'd love to hear your thoughts.

• Me
  April 9th, 2009 at 9:45 AM

  Thank you very much Norm for your valuable and hard work.

• Norm Fisher
  April 9th, 2009 at 9:46 AM

  Thanks…Me.

• Jedi
  April 9th, 2009 at 9:46 AM

  Norm,

  In light of this link http://www.cbc.ca/money/story/2007/09/14/realestate.html

  how is the Saskatoon market holding up? Clearly it is slowing down, but overbids are still coming (albeit in smaller quantities) and the average listing and selling price is still creeping up(whereas homes in Edmonton and Calgary are dropping in price). You mentioned before that it usually takes 3-4 weeks for the market to catch up so should we expect stabiliaztion to the end of the year, or a slight increase or decrease?

• Norm Fisher
  April 9th, 2009 at 9:47 AM

  Hi Jedi,

  I can’t say that I have any good gut on what’s going to happen. Activity seems to be tapering off and buyers are unenthusiastic, yet there seems to be a little momentum which continues to bring a good chunk of the offers in over list. I expect we’ll continue to see this slowing trend but I can’t say whether or not prices will move one way or the other.

• Doug
  April 9th, 2009 at 9:47 AM

  Although I’m out of the market, I’m still poking around and doing a little analysis. I was at a presentation today where an RBC analyst talked about the level of in migration that’s keeping the market active. This is significant migration, some of the highest we’ve seen in decades and how long it will hold out remains a question. One thing we do know is that western economies are strong and project to stay stronger than anywhere else in the country and the U.S.

  At tht same time, I’ve been keeping my eye on median prices and I just watched them jump $5k from last week such that the median price of a house is roughly $270k. It doesn’t appear that the cooling of the market is dapening sellers expectations of what their properties are worth.

  Like Norm, I don’t know whats going to happen but its still pretty exciting to watch and I’m looking forward to what happens next week.

• Norm Fisher
  April 9th, 2009 at 9:48 AM

  Thanks Doug,

  We’re hoping that you’ll continue to hang around now that you’re an owner.

  Are there any firm numbers available on the ‘level on in migration?’ We keep hearing it, and my experience suggest strong numbers but I’m wondering if you actually saw some stats.

• Doug
  April 9th, 2009 at 9:49 AM

  Yeah, they had a chart but I was so far away and the print was so small that I couldn’t make out the source or most of the numbers. I’ve been looking for those stats myself – it was probably a commercial source though.

  I couldn’t make out the numbers on the y axis… all I know is that there was a really big positive spike and the spike wasn’t coming down. I couldn’t read the x axis either so I don’t know the time frames other than it went back at least a couple of decades. It’s RBC and the guy was from Toronto and housing is their thing so I assume it was pretty current.

  I really need to sit in the front row for these things.

• Sunny
  April 9th, 2009 at 9:49 AM

  And was this migration to Saskatoon or just SK? I know a lot of people have been ‘retiring’ to the smaller centres in Sask, since they can sell their house for tonnes and buy a house for about $40,000 max in the smaller towns of Sask. I’m highly doubting that the migration has continued to Saskatoon with the housing prices the way they are now. See: http://www.canada.com/saskatoonstarphoenix/story.html?id=9e909ece-a60b-4879-9c75-d716f458dfec&k=97426

  I’m sure there are other people that have thought about moving back here, but did their homework and decided to stay put after seeing that Saskatchewan is not as cheap as it once was.

  I took a course last week on accounting and was suprised that in our class of 6, 3 people were working for developers from Edmonton. That’s half the class. So it will be interesting to see who’s buying in Saskatoon as of next spring. And it will be interesting to see if the recession will affect Canada and if it does, how fast. I think there may be quite a few variables to this market by next spring.

• Norm Fisher
  April 9th, 2009 at 9:49 AM

  I find it a bit of a stretch to think that people are moving from Calgary to Herschel (no offense Herschel). Saskatoon is no doubt getting it’s unfair share of the immigration action and we’re seeing it on paper in our office. There are many sales on the books with people who are moving to Saskatoon. I just don’t have any idea what those numbers look like.

  Sunny, I wonder if you caught the SP story that ran over the weekend titled, “The pull of the Prairie

  After heading west, former Sask. residents coming home again — in droves.”

  http://www.canada.com/saskatoonstarphoenix/news/national/story.html?id=3e730b62-1c9b-467f-80ed-b9bc3708aab9&p=4

• Norm Fisher
  April 9th, 2009 at 9:54 AM

  Doug,

  The SP reported this weekend that we’ve suffered a net loss of 56,000 over the last ten years. They say this is the first year things have turned around and that there are now more people moving here from AB than there are going the other way. Again, no solid numbers unless you know what a “droves” is.

• Sunny
  April 9th, 2009 at 9:54 AM

  Norm I didn’t read that this weekend, but I did read it now…. I don’t see this as a reason to rejoice yet. Most people were saying they WOULDN’T move home and this wasn’t the greatest to hear after all the province is going through “The province has built a strong economy, but the cost of living hasn’t gotten out of hand like in Calgary, Saskatchewan Premier Lorne Calvert said in an interview.” What strong economy besides mining and housing right now? Farming is not great right now. Besides the south having droughts now the Central and Northern part of the province can’t get out to harvest due to rain. And why compare ourselves to Calgary when we don’t have the same job base. I’m sure we had retirees moving in at the start of the year (and maybe a few younger people), but I’d like to see the stats from the last few months when prices really spiked.

  I’m sorry Norm, I’m still not buying it. Like one of the employees from those developers said – They sold a property for double it’s value, but when asked when that happened she said 1 1/2 months ago. What’s actually happening now? How are we enouraging people to move here now that prices are not matching the wages? I think you need to have a stronger reason to move back than SK being your province of birth. People need to be able to make a living and succeed too. I guess we’ll see what happens when spring hits.

  Norm have you actually been selling to many people moving back to the province? For instance how many this month? (or can you tell us that?)

• Jedi
  April 9th, 2009 at 9:54 AM

  Sunny, why the doom and gloom over people’s choice to move here? I was born and raised here. Due to my profession, I have lived near Montreal for a year, in Northern Alberta for a year, near Winnipeg for a couple of months, and visited Comox, Regina, Vancouver, and had a few trips to Edmonton over the last couple of years. I consider myself lucky to be back here. Yeah the cost of living has gone up, but in Northern Alberta I saw 2 years of 100,000 increases, and it is still going up (Not Fort Mac). You show me a nicer city that has impressive shopping (not St. Catherines mind you), numerous events throughout the year (Ex, Jazz, Fringe, Children’s Fest, Lights at Forestry Farm, Festival of trees, I am not going to name them all), in addition to quality concerts, musicals, plays, and so forth without 2 hour commutes? We have a beautiful riverbank, walking trails, and lots of sunshine. Travel around the country and see what else there is out there. This is not to say there are not other nice cities, it depends what one is looking for. Other cities I hear Saskatoon mentioned in the same breath as: Victoria, Ottawa, and Halifax. I have only been to one of those, and two out of the three have a much higher cost of living than Saskatoon. I have yet to meet a visitor who hasn’t been impressed with the charm of both our city and its citizens. Check out other cities, other campuses, compare apples to apples and Saskatoon just may surprise you. It is kind of a catch 22. You want your city to grow and develop, but at the same time retain all the feature that make it so wonderful. I think people are finally catching on to what a hidden jem Saskatoon is. I think the big area that needs to be developed is producing quality jobs(both in wage and quality of life) to both attract and keep bright individuals here. I also forgot to mention Saskatoon’s proximity to lakes and other recreational activities. Don’t be surpised if this city really starts to grow. The key is to make it sustainable. The people responsible for this are the voters. People really need to hold City Council responsible for the decisions they make. If they make the correct ones reward them with another term. If not punt them.

• Jedi
  April 9th, 2009 at 9:55 AM

  This post is for anyone considering moving to Saskatoon from out of province. I only skimmed the article, but I can’t say I was impressed with the family they chose to interview. I don’t know there total circumstances so I will frame the following as a general comment. YOU are responsible for the choices you make in life. NO ONE ELSE. This seems to be a constant debate in this forum. IF you plan to move here, do your RESEARCH!!!! Reading my previous post, you know where I stand on the city. If you are from out of town, make a couple of trips here. Go to your local library and check out the Star Phoenix on Saturdays to see what jobs are available and what they pay (Most large libraries have major publications from major centres). Talk to a variety of real estate agents and potential employers. Drive around the city, see some neighbourhoods. It is a friendly enough town that you could stop a stranger on the street, explain that you are from out of town and considering moving here, and people will give you their honest opinion. Uprooting a family and moving at any time is challenging, especially when it means moving a considerable distance from friends, family and a comfort zone. Given that it is a pretty life changing event, be prepared to invest some time in researching all the pros and cons of that option. I seriously doubt that anyone would just pick up because of a billboard sign, but if they do then they are the cause of their own hardship.

• Batman
  April 9th, 2009 at 9:55 AM

  Great post Jedi. I too feel that Saskatoon is a great city and would not be shocked to see more immigrants headed this way, heck I’m one of them Granted, I came here from AZ, not AB. Oh how I miss Jack-In-The-Box and Taco Bell What’s with all the greek restaurants here anyway :/

  I guess I should count myself fortunate as it seems I may have dodged a bullet seeing how the US economy is in shambles. As far as Sask’s economy goes, sure mining, farming and housing go without saying; but surely we have prospective industries just waiting to be tapped into. And Saskatoon having the highest GDP should draw the attention of folks looking for a place to set up shop. Yes, I understand that 90% of it was probably from real estate, but it’s still pretty impressive.

  Sunny,

  Raising wages seems like a good idea to lots of folks, but wouldn’t that have a negative impact on our cost of living? I think what we need is a more competitive and diversified job market and for that to happen, we need to attract more businesses.

• Sunny
  April 9th, 2009 at 9:56 AM

  Jedi I love the city here. I think it’s a great city. I never said anything to the negative for that, that’s one of the only things that have kept me here so long. I just don’t think that our wages match the cost of living now and unless we see some companies move in or a change in the economic flow of the city I don’t think we can sustain the housing costs that are here right now. A beautiful city can’t feed your family if the costs are too high. The problem with the real estate boom right now is that we here all about the houses that are selling, but I haven’t seen anything about industry moving into Saskatoon.

• Northstar
  April 9th, 2009 at 9:56 AM

  Good posts Jedi,

  I share your thoughts. Let’s just hope that out of towner asking for help doesn’t run in to Alex.

  As far as wages not supporting cost of living, I’ve shared my thoughts on that before.

  For some reason, I also keep running in to people that claim there’s a spiritual awakening happening in Saskatoon right now. This guy I met told me about a woman from Australia or New Zealand ( I can’t remember ). She claimed that she had a vision of an intense energy at a place with a beautiful river. She left her home to find this place and ended up here just south of the city near riverside estates. He then claimed that a lot of spiritual people will be coming here over the next few years. I’m not saying that I necessarily believe this but I thought I’d throw it out there.

• Norm Fisher
  April 9th, 2009 at 9:57 AM

  Northstar,

  Leave Alex alone!

  “Spiritual awakening” at Riverside Estates? This is the funniest thing I’ve heard all day and I have to say I have had a few good laughs today. It’s one thing to talk resources and other opportunities by hey, Johny’s going to have your ass in a sling for suggesting that buying a home in Saskatoon might bring you closer to GOD. This is a sure sign that values are topping out here.

• Norm Fisher
  April 9th, 2009 at 9:57 AM

  Sunny,

  Sorry to be so long. Yes, I also thought the story went it two entirely different directions. They call it balance. I call it confusing.

  I could not quantify those numbers in a way which would be practical for me. When I say “my office” I’m talking about 30 other agents who are in the field. As I’ve said before, I’ve done little work with buyers this year. I’m simply assuming based on talk and gut which is why I was asking if there are any hard numbers available at this point.

  I will say that I’ve represented many sellers this year. I know that many of the properties received offers from out of town buyers and I believe many of those buyers are now occupying homes here. However, I can also say that I have said goodbye to many Saskatonians who chose to leave Saskatoon this year. I had at least 15 clients leave the city. There may be lots coming, but there are also lots leaving.

• Northstar
  April 9th, 2009 at 9:57 AM

  Lol!!!

  Norm, in no way do I suggest buying in saskatoon because of that. All I was saying is that I found it interesting that it kept popping up for me. (Immigration purposes only!!!). I will leave Alex alone when he can have a discussion that refrains from pointing fingers, blame and calling people greedy punks.

• Jedi
  April 9th, 2009 at 9:57 AM

  That’s an insult to punks!

• Donald got trumped in Saskatoon
  April 9th, 2009 at 9:58 AM

  Thought Idpop in and say hi.

  Smells like foreclosures and soon buying time fore me.

  Sad to say.But Im sure it was good while it lasted.Bet that Norm is not seeing any sales this month,unfortunately the harsh realities of real estate.Boom or bust boys!

  Buy later never during a boom!!!!!

  Your Friend,Donald

• Erika
  April 9th, 2009 at 9:58 AM

  My fiance and I are considering moving out to Saskatoon, we are currently in Alberta. We were already there but were totally unprepared. Any suggestions on what information I should gather to make this trip more permanent.