Growth in the Saskatoon Real Estate Market for New Builds
The Star Phoenix posted that the growth of Sask building permits tops the nation. Saskatchewan led the nation in the growth of building permit values in 2011 with a 25% increase over 2010. The national increase was an average of 1.7 per-cent. The value of the building permits in 2011 totalled $2.6 billion which is the highest on record in Saskatchewan with the previous record being $2.2 billion in 2008. Saskatoon and Regina set most of these building permit records. It is quite apparent when you drive around Saskatoon's new neighbourhoods. The warm weather is also helping I am sure.
Coming in next was Alberta with an 11.3% increase and Manitoba was third with with a 6% increase.
Saskatchewan has more people and more jobs than ever so it is not surprising that our province also ranked first in annual growth rates of both residential and non-residential building permits. We did drop in December from November but the annual average remains high. Ontario actually saw more growth in December primarily due to the surge of multi-unit building permits.
If you drive around areas such as Stonebridge, Hampton Village, and Evergreen you will be suprised at the change if it has been awhile since you were last out ther. As a Saskatoon real estate agent it always astounds me to see how many new homes for sale in Saskatoon there are but how quickly some of these sell. Our population keeps growing therefore we have not seen an excess for some time.
If you are looking to buy a home in the Saskatoon real estate market give me a call!
Saskatoon Real Estate Agent
Century 21 Fusion
Posted by Kari Calder
on February 8, 2012