Saskatchewan, it appears, has gone into that balanced mode. After record highs in 2007 and 2008, it’s natural that the market has reached this cyclical level. “I don’t think the market will run away like it did during those years, where people enjoyed appreciation of up to 30 per cent in some cases, but it’s more stable and balanced and I think we will see consistent growth in the coming years,” says Bill Madder from the Association of Saskatchewan Realtors.
So is now the right time to jump into the western province or are there more swings and roundabouts to come?
Similar to other provinces, Saskatchewan endured a long, bleak winter with few buyers and sellers on the market. But the market did lift slightly in the first quarter, with prices rising by five per cent in Saskatoon to $354,084 and Regina recording an increase of 4.8 per cent to $328,781.
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When investors hear the word ‘balanced’ in relation to any real estate market, investors tend to go into a momentarily paralyzed mode. Even if it’s not a bad condition, it’s the lack of buzz that deters many from following the crowd and snapping up properties in a once hot market. Others, however, take advantage of such market conditions, availing of the extra supply and pricing.