Compare Listings

Saskatchewan remains among most affordable provinces to live

Saskatchewan remains among most affordable provinces to live

New numbers released by the Canadian Real Estate Association show that Saskatchewan remains one of the most economical provinces for home ownership, and that home prices in the province have dropped by about 2 percent in the past year.

Canadian Real Estate Benchmark Price

The CREA says Vancouver remains Canada’s priciest housing market, with a typical home in Vancouver selling for a whopping $1,070,600. Compare that with the price of a typical home in Saskatoon ($293,800), or Regina ($277,000), and you can see that home ownership is much more realistic for people in Saskatchewan than in many other parts of the Country.

Here is a look at where Saskatoon and Regina prices stand in comparison with other Canadian Cities.

  1. Vancouver – $1,070,6oo
  2. Oakville – $952,700
  3. Fraser Valley – $850,600
  4. Toronto – $765,400
  5. Victoria – $694,200
  6. Hamilton – $575,300
  7. Guelph – $522,300
  8. Calgary – $424,400
  9. Ottawa – $392,700
  10. Montreal – $347,700
  11. Edmonton – $326,700
  12. Saskatoon – $293,800
  13. Regina – $277,000
  14. Moncton – $181,300

The CREA’s numbers also show that the price of a typical home in Saskatoon dropped by 1.89 percent in the past year, and by 6.07 percent in the past 5 years. In Regina, the price of a typical home dropped by 4.74 percent in the past year, and 8.79 percent in the past 5 years.

Compare that with an 88.12 percent increase in the price of a typical home in the Fraser Valley in the past 5 years, and you can see that home ownership is much more feasible in Saskatchewan, than in the lower mainland of B.C.

And it seems that now is about as good a time as we’ve seen for home buyers in Saskatchewan in about a decade. Prices have dropped significantly from their peak 4 or 5 years ago, and there are thousands of beautiful homes available for sale at what would be considered bargain-basement prices in most other parts of the Country.

img

Dale Neufeld

I am the co-owner, and co-founder of saskhouses.com

Related posts

Home prices continue to remain flat in Saskatchewan

According to new statistics released by the Canadian Real Estate Association, housing prices in...

Continue reading
Dale Neufeld
by Dale Neufeld

Saskatchewan House prices remain stable in March

The Canadian Real Estate Association says the average price of a Canadian home sold in March was...

Continue reading
Dale Neufeld
by Dale Neufeld

Mortgage Stress Test had a big impact on Canadian Housing Industry

A new report from the Canadian Imperial Bank of Commerce estimates that Canada's new Mortgage...

Continue reading
Dale Neufeld
by Dale Neufeld