As of the end of November, there were 1,495 residential listings in Saskatoon and a further 838 in the surrounding area. Year to date, Saskatoon has seen 7,891 listings hit the market, up 39% from the same time last year. Areas 6-9 have seen 2,495 listings come onto the market, up 66% from 2007. There have been 3,360 residential sales in Saskatoon this year, down 21% from 2007 (but up 2.5% from 2006). In Areas 6-9 there have been 842 sales, down 17% from a year ago (up 14% from 2006).
“The global economic slowdown will in some way effect all areas of Canada. All indicators point to Saskatchewan being one of the best places to weather the storm.”
“Canadians are definitely concerned by the economic news out of the U.S., and much of that news stems from distress in the U.S. housing market. Canadians should realize that Canada’s economy and housing markets are both in better shape. This means the downturn in Canadian consumer confidence will pass and when it does, housing demand will rebound, especially when they realize the window of opportunity to buy at reduced prices and at low interest rates will begin to narrow once economic growth shows signs of rebounding next year.” – Harry Janzen, Executive Officer, Saskatoon Region Association of Realtors