Monday, January 14, 2008 2008- The Future's So Bright, I gotta Wear Shadesby Michael Kinar on Mon, Jan, 14, 2008 04:12 PM The 1986 hit song by Timbuk3, "The Future's So Bright, I gotta Wear Shades," could be an apt title for the 2008 Saskatchewan real estate market.
2007 was an exciting and dynamic year in the local real estate market and 2008 appears to be bringing more of the same. All indicators point to a very strong real estate market.
Consider these points:
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The year to date average selling price in Saskatoon is $232,754 (that's up from 45% from 2006!), while the six month rolling average sale price was $250,428.
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Industry insiders are predicting a 10%- 30% increase in home sales this Spring
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The Canadian Real Estate Association projects the number of existing homes sold in Saskatchewan through MLS to rise 33.7% this year- the biggest proportional growth in the country
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We are in the midst of a resource boom- potash, uranium, diamond exploration, heavy oil, $8 per bushel of wheat
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Saskatoon is quickly becoming a burgeoning technology centre
"There is exceptional consumer optimism in Saskatoon. Investors from across Canada and other parts of the world are excited about our city and our province and appear ready to invest in all areas of real estate. It is easy to share this optimism when one considers Saskatchewan's opportunity for unlimited growth while still remaining one of the most affordable places to live in Canada."
- Harry Janzen,
Executive Officer of the Saskatoon Region Association of Realtors. |
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