SASKATOON – Million dollar homes in Saskatoon used to be few and far between but the past five years has seen a dramatic shift as more and more seven figure homes hit the market.
The once little old Saskatoon is becoming high end and it’s not only in real estate.
Royal LePage realtor Scott Crossman has been selling homes in Saskatoon for 25 years and has seen the market change.
“In the over a million dollar market, the market is definitely changing, there’s more and more on the market that are selling, people are buying in the million dollar plus range,” he said.
Saskatoon’s first million dollar home sold in 2006. So far this year, 16 homes in that price range have been sold.
Crossman puts it down to confidence instilled by the growing economy, lead mostly by mining.
“It’s always been there, it’s just I find that people are more willing to spend it now on housing than they might have been say when I first starting selling real estate, there’s more confidence,” he said.
And what do you get for your money?
A 3,100 square foot, walkout style, two storey property at Wood Meadows Lane on the edge of Saskatoon is listed for $989,900.
It has four bedrooms, 4 bathrooms, a triple garage and a hot tub.
But it’s not only demand for luxury homes that’s on the rise, it seems Saskatoon is going high end with increasing demands for designer interior products as well.
Take Farrow & Ball paint for example.
“This is a really high quality product and some would compare it to the Louis Vuitton of the paint world,” said Braid Flooring and Window Fashions owner Christian Braid.
The Saskatoon based company has just begun importing the designer paint from the UK which goes for around $90 per gallon.
“The higher end of the market has really grown and expanded over the last few years so customers are demanding newer more unique products,” said Braid.
With no sign of the local economy slowing down any time soon this increasing demand may paint the picture of a changing Saskatoon.
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