Canadas 10 healthiest housing markets source CREA.
It is no secret that the Canadian real estate market, like all other markets in the world, has cooled off. Fortunately these 10 Canadian real estate markets are faring better than the rest. I am very happy to say that the Saskatoon real estate market is not only in the top 10 of Canadas healthiest real estate markets, but Saskatoon real estate is in the top 5. Ask anyone who lives in Saskatoon (well, ask anyone who isnt the doom and gloom type) and they will tell you that we are relatively untouched by the global economic crisis and that houses for sale in Saskatoon are selling! Saskatoon real estate did take a bit of a downturn, like everywhere else, but one of the reasons for this was that investors were all pulling out at the same time which meant a big increase in houses for sale in Saskatoon.
The housing market in Saskatoon appears to be stabilizing but it will take some time to clear up all of the excess inventory. There are still many good bargains to be had with the amount of Saskatoon houses for sale but many of the desperate sellers are now out of the market and people are not buying a new house before they sell their old house.
Here is the list of the 10 healthiest real estate markets in Canada.
#1 Newfoundland and Labrador
January 2009 average price: $192, 408
Change from January 2008: up 20.1%
#2 Halifax and Dartmouth
January 2009 average price: $242, 861
Change from January 2008: up 11.1%
#3 Quebec City
January 2009 average price: $201, 024
Change from January 2008: up 10.8%
#4 Regina
January 2009 average price: $213, 622
Change from January 2008: up 7.6%
#5 Saskatoon
January 2009 average price: $278, 545
Change from January 2008: up 7.4%
#6 Saguenay
January 2009 average price: $144, 237
Change from January 2008: up 6.9%
#7 Durham Region
January 2009 average price: $257, 095
Change from January 2008: up 5.5%
#8 Winnipeg
January 2009 average price: $183, 873
Change from January 2008: up 5.1%
#9 Montreal
January 2009 average price: $242, 450
Change from January 2008: up 2.2%
#10 Ottawa
January 2009 average price: $290, 930
Change from January 2008: up 1.8%
Canadas 10 most struggling housing markets
Unfortunately many of our Canadian cities have seen a big drop in real estate values, luckily Saskatoon real estate is staying strong. Here is a list of the top 10 struggling Canadian housing markets.
#1 Trois-Rivieres
January 2009 average price: $122, 486
Change from January 2008: down 14.9%
#2 Victoria
January 2009 average price: $431, 312
Change from January 2008: down 14.7%
#3 Saint John
January 2009 average price: $142, 218
Change from January 2008: down 13.9%
#4 Calgary
January 2009 average price: $362, 143
Change from January 2008: down 11.4%
#5 Vancouver
January 2009 average price: $536, 162
Change from January 2008: down 8.8%
#6 Toronto
January 2009 average price: $343, 632
Change from January 2008: down 8.2%
#7 St. Catharines and district
January 2009 average price: $208, 026
Change from January 2008: down 6.3%
#8 Sudbury
January 2009 average price: $197, 327
Change from January 2008: down 6.0%
#9 Hamilton-Burlington and district
January 2009 average price: $264, 549
Change from January 2008: down 4.9%
#10 Edmonton
January 2009 average price: $317, 049
Change from January 2008: down 4.5%
Kari Calder
Saskatoon Real Estate Agent
Century 21 Conexus Realty Ltd.