Saskatoon has been experiencing a steady growth in its housing market. With the increase in demand for homes, there has also been a surge in new home trends that cater to the changing preferences and lifestyles of homeowners. In this blog, we'll explore some of the most popular new home trends in Saskatoon.

1. The importance of utilizing lot space. Due to the increased land costs for home builders, they are opting to build 2 storey homes and modified bi-levels to maximize square footage. Traditionally bungalows were very popular in Saskatoon and are still highly sought after, however builders are less inclined to build them due to decreased margins.
2. Open concept living spaces: Open concept living spaces have been a trend for a while now and continue to be popular. This design concept involves removing walls between rooms to create a more spacious and connected living area. It allows for more natural light and better airflow throughout the home, making it a popular choice among homeowners.
3. Sustainable and energy-efficient features: As more people become conscious of their impact on the environment, sustainable and energy-efficient features have become a priority in new homes. Saskatoon has seen an increase in demand for homes with features such as solar panels, high-efficiency heating and cooling systems, and low-flow plumbing fixtures.
4. Outdoor living spaces: With Saskatoon's long summers, homeowners are looking to extend their living spaces outside. Outdoor living spaces have become a popular trend, with features such as outdoor kitchens, fire pits, and seating areas. These spaces are perfect for entertaining guests and enjoying the beautiful weather.
5. Home offices: With more people working from home, having a dedicated home office has become a necessity. Saskatoon homeowners are looking for homes with dedicated office spaces, which can double as a guest room or a quiet space to relax and read.
6. Smart home technology: Smart home technology has become a popular trend in Saskatoon homes. Homeowners are looking for homes with features such as smart thermostats, lighting, security systems, and voice-activated assistants. These features not only make life easier but also add to the overall value of the home.
7. Multi-generational living: Multi-generational living has become a popular trend in Saskatoon. Homes with features such as separate entrances, multiple kitchens, and living spaces, and flexible floor plans are in demand. These homes allow families to live together while still maintaining their privacy and independence.

In conclusion, Saskatoon's housing market is evolving to meet the changing needs and preferences of homeowners. Open concept living spaces, sustainable and energy-efficient features, outdoor living spaces, home offices, smart home technology, and multi-generational living are some of the most popular new home trends in Saskatoon. Whether you're buying or building a new home in Saskatoon, it's important to keep these trends in mind to make the most of your investment.

The Saskatoon real estate market has been growing steadily over the past few years, and experts predict that this trend will continue in 2023. With a population of over 270,000 and a growing economy, Saskatoon is an attractive destination for both homebuyers and investors both local and out of province.

Industry experts indicate that the Saskatoon real estate market is expected to remain strong in 2023, with steady growth in both housing prices and demand. The Conference Board of Canada anticipates that there could be a 3% growth in home prices in Saskatoon during 2023. The average price of a home in Saskatoon is currently hovering around $350,000, which is significantly lower than many other Canadian major cities. This makes it an attractive destination for first-time homebuyers and investors alike.

One of the key factors driving the Saskatoon real estate market is the city's growing economy. Saskatoon is home to a number of major industries, including mining, agriculture, and biotechnology. These industries have helped to create a stable job market and attract new residents to the city. In addition, the city has a thriving technology sector, which is expected continued growth in the future.

Another factor contributing to the Saskatoon real estate market's growth is the city's high quality of life. Saskatoon has a vibrant arts and culture scene, numerous parks and green spaces, and a variety of recreational activities. This makes it an attractive destination for families and young professionals who are looking for a balanced lifestyle.

In terms of housing supply, experts predict that there will be a continued shortage of inventory in Saskatoon in 2023. This means that competition for available homes is likely to remain strong, which could drive up prices even further. However, this shortage could also present an opportunity for investors who are interested in purchasing and developing properties in the city. According to Rentals.ca, Rents are up around 10% in Saskatoon from 2023 for a 2 bedroom and nearly 15% for a 3 bedroom property.

Overall, the Saskatoon real estate market is expected to remain strong in 2023, with steady growth in both demand and prices. While competition for available homes is likely to remain strong, this presents an opportunity for investors who are willing to take on the challenge of developing new properties in the city. As Saskatoon continues to grow and prosper, it is likely to remain an attractive destination for both homebuyers and investors for years to come.

Here are some informative news articles to check out:

https://globalnews.ca/news/9386783/saskatoon-housing-market-2023-supply-issues/

https://saskatchewanrealtorsassociation.ca/market-watch-march-2023/

https://www.rentalhousingbusiness.ca/2023-saskatoon-real-estate-forecast-inventory-a-big-concern-for-renters-builders-and-buyers/

https://thestarphoenix.com/news/local-news/2023-saskatoon-real-estate-forecast-inventory-a-big-concern-for-renters-builders-and-buyers