CONTINUED HOUSING SUPPLY CHALLENGES THREATEN SASKATCHEWAN’S GROWTH POTENTIAL

 Saskatchewan’s housing market continues to face mounting supply pressures as rising inventory and new listings struggle to keep pace with sustained demand.

The province recorded 1,571 residential home sales in May, down 10 per cent year-over-year.

There were 2,600 new listings added across Saskatchewan in May, an increase from the month prior and the highest monthly total recorded so far this year. Inventory also improved, reaching 4,399 units at month-end. However, more than 1,000 of those units were already conditionally sold and expected to leave the market.

When accounting for conditional sales, there are 3,397 available units or 2.2 months of supply heading into June – up from 3,087 last month but nearly 50 per cent below the 10-year average.

“Our economy is growing, our population is growing, and people continue to choose Saskatchewan as a place to live and build their future,” said Chris Guérette, CEO of the Saskatchewan REALTORS® Association. “The challenge is that housing supply is not growing at the same pace.”

“We’re adding listings, but demand continues to absorb them almost as quickly as they come online. That’s why we’re seeing a third consecutive month of record benchmark prices and why housing availability is becoming one of the most important conversations for Saskatchewan’s future.”

The provincial residential benchmark price reached a new record of $381,100 in May, surpassing last month’s record of $374,300.

Seven communities across Saskatchewan established new benchmark price records, while all but one community reported year-over-year price growth. The continued rise in price comes despite inventory improvements, underscoring the extent to which supply shortages continue to shape market conditions across the province.

“The conversation today isn’t simply about home prices,” said Guérette. “When supply remains this far below historical levels month after month, the impacts extend well beyond the housing market. Housing availability affects labour mobility, economic growth and our province’s ability to attract and retain people.

“If Saskatchewan wants to continue growing, we need to make sure there are enough homes for that growth to occur.

Regional Highlights

All six provincial economic regions reported year-over-year sales declines in May. However, Regina-Moose Mountain, Saskatoon-Biggar, and Swift Current-Moose Jaw all saw sales exceed the 10-year average.

Inventory levels improved slightly across nearly all regions in May. Still, all regions except the Northern region reported supply ranging from 45 to 56 per cent below typical levels for this time of year. Consistent with prior months, Saskatoon-Biggar (1.96 months of supply) and Regina-Moose Mountain (2.49 months of supply) continue to report the tightest conditions in the province.

Price Trends

All but one Saskatchewan community reported year-over-year price gains in May, while Melville and Yorkton saw double-digit gains for the month. Notably, seven communities (Humboldt, Martensville, Moose Jaw, Regina, Saskatoon, Warman, and Weyburn) set new benchmark price records in May.  

The City of Melville reported the strongest monthly benchmark price growth for the third straight month, with prices up 11 per cent year-over-year. Other notable gains were seen in Yorkton (10 per cent), Estevan (7 per cent), and Humboldt (6 per cent).

City of Regina

Regina reported 350 sales in May, down 17 per cent year-over-year but still outperforming the 10-year average for the month. Despite the provincial capital struggling to keep pace with record 2025 sales levels, year-to-date sales remain strong and continue to sit well above the 10-year average. 

Despite an 11 per cent year-over-year decline in new listings, Regina’s inventory situation improved slightly from April, with nearly two months of supply (1.4 when accounting for conditional sales) at month’s end. Of the 687 available units, 187 were conditionally sold, leaving 500 active properties heading into June.

Regina set another benchmark price record of $350,200 in May, up from the prior record of $345,700 in April and nearly four per cent higher than May 2025.

City of Saskatoon

Saskatoon recorded 519 sales in May, down four per cent year-over-year but over 10 per cent higher than the 10-year average. 

The province’s largest urban centre continues to report the tightest market conditions in the province, preventing even stronger monthly sales figures in May. Inventory remained unchanged in May, with only 1.6 months of supply at month’s end, 1.1 when accounting for conditional sales. Of the 837 available units, over 250 were conditionally sold, leaving just 560 active units heading into June.

Saskatoon's residential benchmark price hit a record $444,400 in May, up from $433,200 in April and well above the previous high of $435,200.

April 2026 Market Statistics

BACK-TO-BACK MONTHS OF RECORD PRICE INCREASES CONTINUE TO ERODE SASKATCHEWAN’S AFFORDABILITY ADVANTAGE

Saskatchewan’s residential housing market continues to tighten, with persistently low inventory levels driving a second consecutive month of record prices and placing increasing pressure on housing affordability across the province.

Saskatchewan recorded 1,404 residential home sales in April, down four per cent year-over-year but nine per cent above the 10-year average. While sales activity remains resilient, supply continues to be the defining factor shaping market conditions.

There were 2,109 new listings in April, increasing from March, but still more than 20 per cent below typical levels for this time of year. Inventory rose modestly; however, nearly 800 of the 3,847 units are already conditionally sold and expected to leave the market.

When accounting for those conditional sales, just over 3,000 properties remain available across the province, leaving Saskatchewan with only 2.2 months of effective supply heading into May.

“We are no longer seeing temporary pressure, this a structural supply challenge,” said Chris Guérette, CEO of the Saskatchewan REALTORS® Association. “Even as we move further into the spring market, supply is not recovering in the way we would typically expect.”

“New listings are improving month-over-month, but they remain well below normal levels. At the same time, inventory is being absorbed almost as quickly as it comes online. That’s what continues to push prices to record levels.”

This trend builds directly on March conditions, where supply levels were already more than 50 per cent below historical norms, highlighting that tight inventory is not easing but persisting.

Strong sales and ongoing inventory challenges led to another month of widespread price growth, with nearly every Saskatchewan community reporting year-over-year gains. 

Notably, Martensville, Moose Jaw, North Battleford, Regina, Yorkton and Warman all recorded benchmark price records for the second consecutive month.

The provincial residential benchmark price reached a new record of $347,300 in April, nearly five per cent higher than April 2025.

“Affordability is being eroded faster than many people realize,” said Guérette. “We’ve long positioned Saskatchewan as one of the most affordable housing markets in the country, but that advantage depends on supply keeping pace.”

“When supply is down more than 50 per cent compared to historical norms, prices respond quickly. That’s exactly what we are seeing now. This isn’t just about a strong market, it’s about a market where options are limited, competition is increasing, and affordability is being eroded month after month.”

Guérette noted that while other regions across Canada are seeing rising inventory and slower sales, Saskatchewan continues to face a fundamentally different challenge.

“In many markets across the country, inventory is building and sales are slowing down. In Saskatchewan, it’s the opposite. Demand is still there, but supply hasn’t caught up. Until it does, this pressure on prices will remain”.

Regional Highlights

Saskatoon-Biggar and Swift Current-Moose Jaw were the only economic regions to post year-over-year sales gains in April. Those two regions, along with Regina-Moose Mountain and Yorkton-Melville, recorded sales above the 10-year average.

Inventory levels remain constrained across regions, with Regina-Moose Mountain (2.24 months of supply) and Saskatoon-Biggar (1.95 months of supply) continuing to report the tightest conditions in the province. Swift Current-Moose Jaw saw some inventory relief in April, though levels remain nearly 35 percent below the 10-year average – while all other regions sit more than 50 percent below historical norms.

Price Trends

All but one Saskatchewan community reported year-over-year price gains in May, three of which saw double-digit gains. Six communities (Martensville, Moose Jaw, North Battleford, Regina, Yorkton, and Warman) set price records for the second consecutive month.

The City of Melville reported the strongest monthly benchmark price growth for the second straight month, with prices up over 17 percent year-over-year. Other notable gains were seen in Yorkton (15 percent), Swift Current (12 percent), Humboldt (9 percent) and Estevan (9 percent).

City of Regina

Regina reported 347 sales in April, down four percent year-over-year but 16 percent above the 10-year average. While the Queen City struggles to keep pace with record 2025 sales levels, year-to-date sales remain strong and are well above the 10-year average.

An eight percent year-over-year decline in new listings – 12 percent below the 10-year average – compounded Regina's supply challenge. Paired with steady sales, that tightening leaves 1.6 months of supply heading into May, falling to 1.2 months once conditional sales are removed. Of 562 available units, nearly 160 were conditionally sold, leaving just 403 active properties at month’s end. 

Regina recorded another record benchmark price of $345,700 in April, up from 343,700 in March and four percent higher than April 2025. 

 City of Saskatoon

Saskatoon recorded 450 sales in April, up two percent year-over-year and 12 percent above the 10-year average. Despite persistent inventory constraints, year-to-date sales remain eight percent above the 10-year average through the first four months of the year.

Despite a welcome monthly increase in new listings, Saskatoon continues to report the province's tightest market conditions. Inventory remains over 50 percent below historical trends, with only 1.6 months of supply at month’s end, 1.1 when factoring in conditional sales. Of the 714 available units, over 200 were conditionally sold, resulting in 503 active units heading into May.

After reaching a record $435,200 in March, Saskatoon's residential benchmark price dipped slightly to $433,200 in April – over three percent higher than April 2025.

 SUPPLY CONSTRAINTS PUSH SASKATCHEWAN HOME PRICES TO NEW RECORD

  Saskatchewan’s housing market entered the spring season under increasing pressure, as persistently low inventory levels drove benchmark prices to a new record high and continued to challenge housing affordability across the province.

 Saskatchewan reported 1,256 residential home sales in March, a one percent year-over-year decrease, but still nearly 10 percent above long-term, historical averages. While sales activity has moderated compared to the near-record pace of 2025, year-to-date sales remain four per cent above the 10-year average, reflecting continued underlying demand.

 There were 1,808 new listings in March, an increase over February as the market begins a more slow than normal seasonal transition. However, new listings remain down compared to last year and are nearly 25 per cent below long-term averages. Inventory levels continue to sit well below historical norms, with less than three months of supply available across the province – over 50 per cent below typical levels for this time of year.

 “This is where supply constraints start to have real impact,” said Association CEO Chris Guérette. “We are seeing record prices not because demand is accelerating, but because there simply are not enough homes available. Saskatchewan has long been one of the most affordable places to buy a home in Canada, but that advantage is being tested in real time.”

 The province’s residential benchmark price reached a new all-time high of $374,100 in March up from $363,800 in February and more than six per cent higher than March 2025. Price growth was recorded across every community for the third consecutive month.

 While many markets across Canada continue to report slower sales activity and more balanced conditions, Saskatchewan’s market remains fundamentally different.

 “In other parts of the country, the story is about slowing markets and rising inventory,” said Guérette. “In Saskatchewan, it’s the opposite. Demand is still there, but supply hasn’t kept pace. That imbalance is what’s driving price growth and putting pressure on buyers, particularly those trying to enter the market for the first time.”

 Seasonal factors are also playing a role. A slower-than-usual transition out of winter has delayed the typical influx of new listings seen at this time of year, limiting the amount of fresh inventory entering the market during a critical period.

 “As we move further into the spring market, the key question is whether supply can respond,” Guérette added. “We have witnessed this in regions where inventory improves, sales activity follows. But without a meaningful increase in listings, we will continue to see upward pressure on prices and increasing challenges around affordabity.

Regional Highlights

The Northern, Prince Albert, Swift Current-Moose Jaw and Yorkton-Melville economic regions all reported year-over-year sales gains in March, while all six economic regions reported sales above the 10-year average. 

 Consistent with prior months, Regina-Moose Mountain and Saskatoon-Biggar continue to report the tightest market conditions in the province. However, all six economic regions report inventory levels more than 45 percent below the 10-year average, with ranges from 46 percent in Swift Current-Moose Jaw to 64 percent in Regina-Moose Mountain.

 Price Trends

All Saskatchewan communities reported year-over-year price gains for the third consecutive month, while five posted double-digit gains. Notably, the communities of Martensville, Moose Jaw, North Battleford, Regina, Saskatoon, Swift Current, Warman and Yorkton all reported record-high benchmark prices in March. 

 The City of Melville reported the strongest monthly benchmark price growth, with prices up over 15 percent year-over-year. Other notable gains were seen in Estevan (15 percent), Yorkton (13 percent), Swift Current (12 percent) and Weyburn (10 percent).

 City of Regina

Regina reported 313 sales in March, up five percent year-over-year and 16 percent above the 10-year average. While 2026 sales levels currently trail the near-record levels seen last year, year-to-date sales are nine percent above the 10-year average through the first quarter.

 New listings declined by four percent year-over-year and over 20 percent compared to the 10-year average. When paired with strong March sales, Regina currently has 1.7 months of supply, over 60 percent below the typical level for this time of year. 181 of the 522 available units at month’s end are conditionally sold, leaving only 341 active properties on the market heading into April. 

 Regina reported a new record benchmark price of $343,700 in March, up from $336,400 in February and over six percent higher than March 2025.

 City of Saskatoon

Saskatoon reported 388 sales in March, down four percent year-over-year but eight percent above the 10-year average. Despite first quarter sales trailing impressive 2025 levels, year-to-date sales currently sit six percent above long-term, historical trends. 

 New listings improved compared to March 2025 but remain well below 10-year trends. As a result, the Bridge City continues to report the tightest market conditions in the province, with 1.6 months of supply heading into a busy spring market. Nearly 200 of the 638 available units at month’s end were conditionally sold and expected to exit the market, leaving just 440 active properties on the market. 

 Saskatoon reported an all-time high benchmark price of $435,200 in March, up from $421,600 in February and over five percent higher than March 2025. 

 SASKATCHEWAN'S MARKET ENTERS MARCH WITH TIGHT SUPPLY AND STABLE DEMAND 

 Saskatchewan’s housing market continued to navigate tight supply conditions in February, as sales activity aligned more closely with long-term trends heading into the spring market.

 Saskatchewan reported 825 home sales in February, down 16 percent year-over-year and two percent below the 10-year average for the month. Despite sales activity failing to keep pace with the near-record levels seen over the past two years, total sales remain consistent with long-term historical trends through the first two months of 2026.

 The downward trend in new listings persisted in February, falling seven percent year-over-year and 31 percent below the 10-year average. Notwithstanding typical seasonal shifts in sales activity, the limited influx of new supply provided little relief to inventory levels, which remained essentially unchanged from the previous month. Over 700 of the 3,519 active units at month’s end were conditionally sold and expected to leave the market, leaving 2,792 available properties across the province heading into February.

 “Demand remains present across Saskatchewan,” said Association CEO, Chris Guérette. “but inventory constraints continue to shape what buyers and sellers can actually purchase or sell. Even with a modest rise in supply, we are still operating well below historic norms.” 

 The province’s residential benchmark price stood at $363,800 in February, up from $359,500 in January and over six percent higher than the February 2025. Notably, all Saskatchewan communities again reported year-over-year price gains, some as high as 13 percent.

 “As we move towards the spring market, the key factor to watch will be new listings,” added Guérette. “Some regions that have seen modest improvements in supply are also reporting stronger sales activity, which reinforces how sensitive our market can be to inventory levels. The opportunity for a healthier balance in 2026 depends largely on whether supply can respond to sustained demand.”

  Regional Highlights

Five of Saskatchewan’s six economic regions recorded year-over-year sales declines in February. Swift Current-Moose Jaw was the only region to post an annual increase in sales and remains the sole region reporting activity above its 10-year average this month.

 As in recent months, Regina-Moose Mountain and Saskatoon-Biggar continue to face the tightest market conditions in the province. Although supply is particularly constrained in these two regions, five of the six economic regions are operating with inventory levels more than 45 percent below their respective 10-year averages, underscoring persistent province-wide supply challenges.

 Regions experiencing modest improvements in months of supply also recorded some of the province’s strongest sales activity this month, highlighting the direct relationship between available inventory and sales activity.

 Price Trends

Tight supply conditions and steady sales continue to drive price growth across the province. All Saskatchewan communities reported year-over-year price gains for the second consecutive month, while three posted double-digit gains.

 The City of Estevan again reported the strongest monthly benchmark price growth, with prices up 13 percent year-over-year. Other notable gains were seen in Melville (11 percent), Humboldt (10 percent), and Moose Jaw (9 percent).

 City of Regina

Regina reported 198 sales in February, down 21 percent year-over-year and two percent below the 10-year historical average.

 New listings declined by 14 percent year-over-year, yet inventory levels remain virtually unchanged compared to the month prior. Nearly 150 of the 494 available units at month’s end were conditionally sold and expected to leave the market, leaving only 347 active units in Saskatchewan’s capital city heading into March.

 Regina reported a residential benchmark price of $336,400 in February, up from $330,600 in January and seven percent above February 2025.

 City of Saskatoon

Saskatoon reported 271 sales in February, down 16 percent year-over-year and two percent below the 10-year average.

 The monthly sales decline was met with declining new listings, which failed to provide meaningful inventory relief as the Bridge City continues to report Saskatchewan’s tightest market conditions. Of the 614 available units at the end of the month, 164 were conditionally sold and expected to exit the market, resulting in 450 active units heading into February.

 Saskatoon reported a benchmark price of $421,600 in February, up from $417,800 in January and five percent above prices reported in February 2025.

SASKATCHEWAN OPENS 2026 WITH STABILITY AND AFFORDABILITY AS MARKET REMAINS TIGHT

 Saskatchewan’s housing market entered 2026 from a position of strength, stability and affordability, standing in contrast to slowing conditions reported in several major Canadian centres. While January actively reflects typical seasonal patterns, sales remained above long-term averages, and supply continued to sit well below historic norms, reinforcing the province’s tight market conditions.

 Saskatchewan reported 712 home sales in January, extending the province’s streak of above-average sales to 31 consecutive months. Inventory remains nearly 50 per cent below the 10-year average, underscoring that demand continues to outpace supply across much of the province. Nearly 700 of the 3,508 active units at month’s end were conditionally sold, leaving 2,855 available properties across the province heading into February.

 “When you look across the country, many of the headlines are focused on corrections and slowdowns in major markets like Toronto and Vancouver,” said Association CEO Chris Guérette. “Saskatchewan’s story is different. Our markets remain tight, but affordability continues to be our strongest advantage as we head into 2026.”

 New listings declined by four percent year-over-year, while remaining 27 percent below historical averages for the month. Seasonal sales trends provided some month-over-month inventory relief, but supply levels remain relatively unchanged from January 2025, sitting nearly 50 percent below the 10-year average. Nearly 700 of the 3,508 active units at month’s end were conditionally sold and expected to leave the market, leaving 2,855 available properties across the province heading into February.

 The province’s residential benchmark price stood at $359,500 in January, up from $359,000 in December and nearly six percent higher than the $340,400 reported in January 2025. Price growth across every Saskatchewan community highlights the continued balance between affordability and demand, which is a contrast to more volatile pricing patterns seen in several larger Canadian cities.

 “Saskatchewan continues to offer something that is increasingly rare in Canada,” Guérette added. “While it’s still early in the year and market conditions will continue to evolve, the combination of steady demand, tight supply and relative affordability across the provinces points to a positive outlook for 2026”

Regional Highlights 

All six of the province’s economic regions reported year-over-year sales declines in January. Despite the yearly decline, the Regina-Moose Mountain, Saskatoon-Biggar, and Swift Current-Moose Jaw regions reported sales above the 10-year historical average. 

 While the Regina-Moose Mountain and Saskatoon-Biggar regions continue to report the province's tightest market conditions, supply levels are down considerably across the province. Notably, the Prince Albert, Regina Moose-Mountain, Saskatoon-Bigger, Swift Current-Moose Jaw, and Yorkton-Melville regions all reported inventory levels near 50 percent below the 10-year average.

 Price Trends

2026 picked up where 2025 left off, with above-average sales and ongoing supply constraints driving price growth across the province. All Saskatchewan communities reported year-over-year price gains in January, with four posting double-digit gains.

 The City of Melville again reported the strongest monthly benchmark price growth, with prices up 15 percent year-over-year. Other notable gains included Yorkton (13 percent), Humboldt (11 percent), and Swift Current (11 percent).

 City of Regina

Regina reported 172 sales in January, up one percent year-over-year and nearly 15 percent above the 10-year historical average.

 Despite modest year-over-year new listing growth in the Queen City, above-average sales prevented meaningful inventory relief – as supply levels continue to sit 50 percent below long-term averages. Of the 496 available units at month’s end, 134 were conditionally sold and expected to leave the market, leaving just 362 active units heading into February.  

 Regina's residential benchmark price was $330,600 in January, down slightly from $330,900 in December but six percent higher than January 2025.

 City of Saskatoon

Saskatoon reported 237 sales in January, a six percent year-over-year decline. However, January sales figures were seven percent above the 10-year average.

 Declining new listings were again met with above-average sales, as Saskatchewan’s largest market continues to report the tightest conditions in the province. Of the 635 available units at the end of the month, 187 were conditionally sold and expected to exit the market, resulting in 448 active units heading into February.

 Saskatoon reported a benchmark price of $417,800 in January, up from $417,700 in December and four percent higher than January 2025.

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