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Brodie's Real Estate Update - November 2022

I hope you are well and are ready for another Saskatchewan winter! I wanted to take a few minutes of your time to update you on our current market! 

As the Bank of Canada continues to fight inflation with interest rate hikes, we have been asked our opinion on the impact it will have on the Saskatoons housing market. Our short answer is, we see minimal risk to our housing market.

The Saskatchewan economy remains strong and is still the most affordable Province to live in within Canada. Although interest rates have historically had an adverse effect on prices, low supply continues to keep upward pressure on prices. We are seeing a low housing supply in our city (25% below the 10-year average) and with construction costs high and labor short, we do not see this trend changing soon.

Let’s compare this with the last financial crisis in 2007-2008. During that financial crisis, Saskatchewan was one of the only places (State or Province) in all of North America that did not see 2 consecutive quarters (a definition of recession) decrease in GDP. Saskatchewan’s economy will remain strong over the short term. A conference board of Canada article recently stated that “Economic growth in Saskatoon is expected to outpace 12 other major cities in Canada with 7.2 percent in real GDP growth this year and 3.9 percent next year.”

Population growth. Our city continues to grow continually putting pressure on the housing supply. Did you know our largest demographic is the 30-40 age group? Yes, not the boomers. Saskatoon is young, prosperous, and affordable.

Real Estate in Saskatoon, historically, has been a safe and non-volatile investment. Year over year our benchmark price is up 4.4% for the city.

This is a quick look at our opinion, supported by facts. There are a lot of good things happening here. Don’t let the macroeconomic data scare you. If you want a more microeconomic view (or info breakdown for your city if it is Martensville or Warman etc.), give me a call, text, or DM. I am happy to help!

Stay warm!

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Saskatoon is the place to be during the summer. Taste of Saskatchewan, Sasktel Saskatchewan Jazz Fest, Nutrien Fringe Fest, Shakespeare on the Saskatchewan, Saskatoon Folkfest, and the Saskatoon Ex are just a few of the great festivals coming to YXE this year. But some of Saskatoon’s best fun isn’t at an organized event. The South Saskatchewan River gives Saskatoonians a free and convenient way to make memories during the warmer months. Here are 5 great beach ideas to add to your summer bucket list.

 

1. Explore the river in a canoe, kayak, or on paddleboard

 

Whether you join the Saskatoon Canoe Club or bring your own boat, paddling the South Saskatchewan is a must in the summer. For serious paddlers, the Chief Whitecap Waterway runs from Gardiner Dam to Saskatoon and provides more than 100 kilometers of river to explore. For those who prefer a more laid-back experience, you can find plenty of adventures closer to the city. Launch your craft at the Fred Heal Canoe Launch, park on a sandbar for lunch, and wrap up the trip by getting out of the river at Victoria Park.

 

2. Have a beach day

 

Just outside of Saskatoon city limits you can explore some beautiful beaches perfect for spreading out a towel and grabbing a tan, playing Spikeball, or tossing a frisbee. Whether it’s Paradise Beach on the west shore or Fred Heal on the east, the river offers numerous places to relax and recharge. Just remember to clean up after yourself and leave the beach as beautiful as you found it.

 

3. Take your dog to the beach

 

Did you think you were the only one who deserves a beach day? Our canine friends love the water just as much (and maybe more) than we do. Just outside of Saskatoon lies the community of Furdale and the Chief Whitecap off leash dog park. A parking area is available off Saskatchewan Crescent or you can hike from Diefenbaker Park to the beach via a Meewasin Valley Authority path. Once you get to the off leash area set your four-pawed friend free and relax. Equally suitable for humans, Chief Whitecap Park is one of Saskatoon’s best kept secrets.

 

4. Go for a bike or a hike along the river

 

Although this won’t actually put you into the river (unless you get lost), exploring the river valley by land is just as fun as using the water. The Meewasin Valley Authority has been working hard to not only conserve the river valley, but also make it more accessible by installing more than 80 kilometres of Meewasin Trail. Maps of the valley and the paths and trails that line it can easily be found online.

 

5. Float down the river

 

This final activity might require the least amount of energy out of all the items on this list. Grab an inner tube or inflatable raft, a PFD, and a paddle, and you have everything you need to kill an afternoon on the river. Depending on where you launch from and how fast the river is flowing you could be in the river for one hour or four. An easy first float is to launch from Diefenbaker Park and get out at Rotary Park. Here are a few pro tips. Make sure you have a lifejacket for everyone on board as well as a paddle for each craft. Tie all the floats together so you don’t get separated from your friends. Bring plenty of drinking water, sunscreen, and good summer music, and you’re set for a lazy afternoon on our beautiful river.

 

 

Once you finish this list, do it again! The great thing about the river is it isn’t going anywhere so you can enjoy it as many times as you want. The river is always changing, so every week could bring a different adventure. The river is one of Saskatoon’s most beautiful features and it is even more beautiful when you’re up close and personal with it.

 

 

Here are some links that may be helpful in planning your next river adventure:

 

the Meewasin River Valley Authority website

City of Saskatoon river safety brochure

Saskatoon Canoe Club website

Chief Whitecap Waterway website

SaskHiker.com

 


 

Brodie Zuk and Tim Hollman are Saskatoon Real Estate Agents who are commited not only to buying and selling real estate but, also to the promotion of a healthy community-centered lifestyle. For more information on how Brodie and Tim can help match you and your family with your Saskatoon dream, give them a call at (306) 361-5393 or (306) 230- 1126.

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