Saskatoon homes 20% more expensive in 2021, real estate firm says

There is a decline in consumer confidence as Canadians go back to work and stimulus ends: Nanos Nik Nanos, chief data scientist and founder of Nanos Research Group joins BNN Bloomberg to discuss the latest Bloomberg/Nanos Consumer Index survey. While consumer confidence remains positive, it has slid over the last four weeks, one reason for it being the fears of stimulus winding off in the upcoming months. The survey also shows a decrease in enthusiasm in the real estate market despite only 10 per cent of Canadians believe the price of real estate will go down.

SASKATOON — Prairie house prices have risen over the past year, though they are the slowest-growing areas of the country.

Saskatoon homes are up nearly 20 per cent to $314 per square foot, while condo prices remained flat, Century 21 Canada said in a news release.

Regina properties only saw minor increases in prices.

In its annual nationwide study, Century 21 Canada compared the price per square foot of properties sold between Jan. 1 and June 30 to the same time period last year.

It found that house prices across Canada grew over the past year, particularly in Atlantic Canada and more recreational locations, despite the COVID-19 pandemic.

Executive Vice-President Brian Rushton said in the release that each region of Canada has seen prices grow.

“When the pandemic began in 2020, the market became unchartered territory. But because of low inventory and high demand from buyers looking for a larger space, prices have steadily climbed for the past year, particularly detached homes.

“Over the past couple of months, that growth has slowed and condo prices have started increasing again– it’s still a seller’s market from Victoria to St. John’s.”

In other parts of the Prairies, many markets in Alberta saw decreases in previous surveys but are up anywhere from three to 15 per cent depending on the city and home type.

Winnipeg saw the biggest gains with homes up as much as 20 per cent to $293 per square foot for a house and $241 per square foot for a condo.

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