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Q4 house prices in Saskatoon show increases over last year: Royal LePage

Saskatoon’s real estate markets saw solid improvements in the final quarter of 2009 across housing types, according to the latest Royal LePage Market Survey Forecast and House Price Survey.


In Saskatoon, standard condominiums sold for an average of $217,000, up 5.9 per cent from the same period last year. Detached bungalows sold for an average of $310,500, up 3.5 per cent year-over-year, and average standard two-storey home prices increased by 3.0 per cent year-over-year to $338,750.


“At this time last year, Saskatoon’s real estate was hitting the bottom of the market,” said Norm Fisher, Sales Manager for Royal LePage Saskatoon Real Estate. “Resale activity is up across the board, and higher house prices are supported by lower inventory and increased demand, especially for entry level properties.”


“Condos are big movers. In 2009, interest rates went down and entry level homes came into high demand. Condominiums less than 1200 square feet are up dramatically in terms of unit sales in the last half of 2009,” added Fisher.


Canada’s residential real estate market is forecast to remain unusually strong through the first half of 2010 as economic conditions across the country improve and the stimulus impact of low interest rates continues to stoke demand, according to today’s Royal LePage Market Survey Forecast and House Price Survey.


“The Canadian real estate market enters 2010 with considerable momentum from an unusually strong finish to the previous year,” said Phil Soper, president and chief executive, Royal LePage Real Estate Services. “The stimulus effect of low borrowing costs has contributed to a sharp rise in demand that has driven activity levels to new highs. This demand, coupled with a typical seasonal under supply of homes for sale, should cause home prices to continue to appreciate significantly during the early months of the year. Improving supply as the year unfolds and easing demand as the cost of home ownership rises should moderate home price increases in the second half of 2010.”


Regions that saw the strongest declines during the recession are now showing marked gains. Those regions include Toronto and the Lower Mainland, B.C.. Vancouver in particular experienced a robust quarter, with home prices rising across all housing types surveyed.


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.


Real estate geeks can follow our daily updates on Twitter @norm_fisher.


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Norm Fisher
Royal LePage Vidorra

Norm Fisher, Author of the TeamFisher Saskatoon Real Estate Blog

About Norm

Licensed in 1993, Norm brings a wealth of experience to TeamFisher. He has worked in every imaginable capacity including sales agent, office manager, team leader, broker and now, broker/owner. Norm has written a weekly review of the Saskatoon real estate market for more than 650 consecutive weeks which may make him the most consistent industry blogger in the world.Less...

Licensed in 1993, Norm brings a wealth of experience to TeamFisher. He has worked in every imaginable capacity including sales agent, office manager, team leader, broker and now, broker/owner. Norm has written a weekly review of the Saskatoon real estate market for more than 650 consecutive weeks which may make him the most consistent industry blogger in the world.

Norm is known for his passion for technology and can most often be found exploring and experimenting with the next big thing in real estate marketing. He was the first Saskatoon real estate agent to promote a home online and has been an early adopter of new technologies ever since. “Everything about this business has changed over the past 20 years, and it will happen again in the next ten. An open mind and a curious attitude are all that’s needed to continue to find new ways to serve our clients by delivering a faster, smoother, worry-free transaction,” says Norm.

In his spare time, Norm enjoys Crossfit and cycling, some years accumulating over 2,000 kilometres on the road. He’s a strong supporter of the Royal LePage Shelter Foundation and enjoys raising funds by joining fun, fitness-related initiatives like the Grouse Grind for Shelter. In 2015, he trekked the Peruvian Andes to Machu Picchu. In 2017 he walked the southern highlands of Iceland across mountains, sand, snow, ice, lava fields and forest for seven days. Collectively those initiatives raised over a million dollars for Canadian women's shelters.
 

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