SURGING SALES DRIVE INVENTORY TO NEW LOWS AHEAD OF SPRING MARKET 

Saskatchewan’s housing market continues to exceed expectations and defy national trends, with 1,277 sales across the province in March – up over eight percent year-over-year and 13 percent above long-term, 10-year averages. 

New listings decreased by 2 percent year-over-year and remain nearly 30 percent below long-term trends. When paired with the twenty-first consecutive month of above-average sales, inventory levels continue to worsen across many areas of the province. 

“Notwithstanding economic uncertainty and the ongoing threat of tariffs, Saskatchewan’s housing market remains remarkably resilient, once again posting above-average monthly sales,” said Association CEO Chris Guérette. “Many markets across the country are going to tell a very different story this month, which highlights the strength of our market – even in the face of significant headwinds.” 

At month's end, 4,023 units were available across the province, up from 3,851 last month. Despite the slight month-over-month increase, inventory levels dipped by 21 percent year-over-year, remaining nearly 50 percent below the 10-year average. 

Furthermore, Saskatchewan’s two largest markets continue to grapple with severe inventory shortages. When accounting for conditional sales set to close and leave the market, Saskatoon is entering April with just 0.98 months of supply, while Regina trails closely behind at 1.29 months. 

Strong sales and persistent supply constraints continue to boost home prices across the province. Saskatchewan reported a residential benchmark price of $353,600 in March – up from $344,700 in February and over six percent higher than March 2024. 

“The spring market is here. We continue to see near-record demand, and there isn’t enough inventory to meet that demand right now,” said Guérette. “Our message to those trying to navigate this market is simple: it’s going to be very challenging, patience is essential, and the expertise of a real estate professional is more crucial than ever.” 

Regional Highlights

All regions of the province except the Northern region reported year-over-year sales gains in March, with the Yorkton-Melville (up 13 percent year-over-year), Saskatoon-Biggar (12 percent) and Prince Albert (10 percent) regions leading the way. 

The Regina-Moose Mountain and Saskatoon-Biggar regions continue to experience the tightest market conditions in the province, as both regions report less than three months of supply heading into a historically busy spring market. These two regions also reported the largest year-over-year inventory decrease, down 26 percent compared to March 2024. 

Price Trends

Surging sales and declining inventory are again driving price gains across the province. In March, all cities except Estevan and Weyburn saw year-over-year price gains. 

The City of Melfort led the way in price growth for a second consecutive month, with prices 22 percent higher than March 2024. Other notable gains include the cities of Prince Albert (up 11.7 percent), North Battleford (11.5 percent), Humboldt (11.1 percent) and Moose Jaw (10.7 percent). 

City of Regina

The City of Regina reported 301 sales in March, down three percent year-over-year but still outpacing the 10-year average by 15 percent. 

There were 418 new listings in March, consistent with March 2024 but down 20 percent compared to the 10-year average of 524. Notably, 172 of the 579 units available at month’s end were already conditionally sold, leaving just 407 reported as active. 

Stable demand and ongoing inventory challenges continue to push prices higher in the Queen City. In March, the residential benchmark price rose to a near-all-time high of $326,300, up from $317,700 in February and over four percent higher than March 2024. 

City of Saskatoon

Saskatoon reported 403 sales in March, up 11 percent year-over-year and 13 percent above the 10-year average.
 
New listings declined by one percent year-over-year and 27 percent compared to the 10-year average, resulting in the lowest months of supply heading into April since 2007. Of the 602 available units at month’s end, 195 were conditionally sold, leaving just 407 units on the market with active status – less than one month of supply when conditional sales are factored in. 

Saskatoon reported a record benchmark price of $415,900 in March, up from $405,400 in February and over $25,000 higher than March 2024. 

SASKATCHEWAN MARKET REMAINS RESILIENT AMID ECONOMIC UNCERTAINTY

 Saskatchewan reported 986 sales across the province in February, down one percent year-over-year but well above long-term, 10-year averages. Despite the slight year-over-year decline, sales levels remain on pace with 2024 levels through the first two months of the year.

New listings decreased by nearly 14 percent year-over-year and were down 29 percent compared to the 10-year average. When paired with near-record demand in 2024 and a strong start to 2025, inventory challenges are worsening in many markets across the province. 

“Saskatchewan’s housing market continues to exceed expectations, as February marks twenty consecutive months of above-average sales in our province,” noted Association CEO Chris Guérette. “These figures are even more impressive when you consider how dire the inventory situation has been over this stretch, what we’re seeing right now is unprecedented.” 

With just 3,851 units available across the province at month’s end, inventory levels declined by 21 percent year-over-year and remain nearly 50 percent below levels typically seen in the year's first quarter. 

Home prices continue to rise across Saskatchewan, as the province reported a residential benchmark price of $344,700 in February, up from $342,600 in January and nearly five percent higher than February 2024. 

“While several external factors are causing economic uncertainty across our nation right now, Saskatchewan’s housing market continues to experience strong demand through the first two months of 2025,” said Guérette. “Our market has demonstrated resilience through persistent supply challenges, and now we’re adding tariffs to the mix. A lot is being thrown at us, but we’re cautiously optimistic that our market will continue to weather this storm.” 

Regional Highlights

The Regina-Moose Mountain and Saskatoon-Biggar regions reported monthly sales that well outpaced historical averages. Regina-Moose Mountain and Saskatoon-Biggar also continue to report the tightest market conditions in the province, with inventory levels over 50 percent below the 10-year average in both regions. 

The Prince Albert region saw prices increase by 10 percent year-over-year in February, while the Swift Current-Moose Jaw region saw prices grow by eight percent.

 Price Trends

Strong demand and ongoing supply challenges continue to drive price gains throughout the province—with all but two areas of the province reporting year-over-year price gains in February.
 
The City of Melfort saw the largest year-over-year price growth in February, with prices over 21 percent higher than in February 2024. Other notable gains include the cities of Prince Albert (10.7 percent), Humboldt (10.3), and Moose Jaw (8.3). 

City of Regina

The City of Regina reported 253 sales in February, down seven percent compared to February 2024. Despite the slight year-over-year decrease, February sales levels were over 30 percent above the 10-year average, with limited inventory preventing even stronger sales figures. 

February saw 304 new listings added to the market, down five percent from last February and 19 percent below long-term averages. At month’s end, there were 514 units in inventory, 124 of which were conditionally sold and set to exit the market. Above-average sales and declining new listings resulted in just over two months of supply – the lowest level reported in February in nearly two decades. 

Regina’s benchmark price rose to $317,700 in February, up from $316,300 in January and two percent higher than February 2024. 

City of Saskatoon

The City of Saskatoon reported 323 sales in February, up five percent year-over-year and over 25 percent above 10-year averages. While supply constraints continue to prevent further sales gains, year-to-date sales are over 22 percent higher than long-term, 10-year averages through the first two months of 2025. 

The Bridge City saw 381 new listings in February, down 12 percent year-over-year and nearly 30 percent below 10-year averages. At month’s end, there were only 581 available units, 156 of which were already conditionally sold. With less than two months of supply heading into March, Saskatchewan’s largest urban centre is reported near-record low inventory for this time of year.   
 
Saskatoon reported a benchmark price of $405,400 in February, up from $403,400 in January and nearly six percent above February 2024.

SASKATCHEWAN HOUSING MARKET OFF TO A STRONG START IN 2025 

Saskatchewan’s housing market is off to a strong start in 2025, with 782 sales across the province in January—up one percent year-over-year and over 17 percent above 10-year averages. Strong January sales led to the nineteenth consecutive month of above-average sales in the province, a streak of robust sales that dates back to June 2023. 

New listings declined by two percent year-over-year and were down nearly 28 percent compared to long-term averages. Declining new listings continue to be met with strong demand, which failed to provide any supply relief to begin the new year. 

Inventory levels were down 19 percent year-over-year and currently sit over 44 percent below the 10-year average, with over 600 fewer units available than this time last year. Notably, of the 3,925 available units reported at month’s end, over 700 had already accepted a conditional offer and are set to leave the market once those transactions close. 

“While market activity in the coming months will provide a clearer picture of trends for 2025, monthly sales figures continue to outperform expectations,” said Association CEO, Chris Guérette. “We’re picking up right where we left off after a near-record 2024.” 

Tighter market conditions continue to place upward pressure on home prices across the province, as Saskatchewan reported a residential benchmark of $342,600 in January - up from $337,800 in December and nearly seven percent higher than January 2024. 

“Until recently, Saskatchewan was braced for another strong year in 2025. That outlook has become less certain given the threat of tariffs, coupled with potential Canadian retaliation and uncertainty with the Bank of Canada,” said Guérette. “We’ll be keeping a close eye on these external factors and their potential implications on Saskatchewan’s housing market in 2025.” 

Regional Highlights

The Regina-Moose Mountain, Saskatoon-Biggar, and Swift Current-Moose Jaw regions all reported monthly sales that well outpaced historical averages—leading the province to a nineteenth consecutive month of above-average sales. While market activity in the coming months will provide a clearer picture of trends for 2025, there continues to be significant demand for housing despite limited inventory in many markets across the province. 

The Regina-Moose Mountain region (down 27 percent) saw the largest year-over-year inventory decline in January, while the Saskatoon-Biggar region is again reporting the tightest market conditions across the province. 

Price Trends

Significant demand and persistent inventory challenges continue to drive price gains throughout the province—with all areas of the province reporting year-over-year price gains in January. 

The City of Moose Jaw led the way in year-over-year price growth for the sixth consecutive month, with prices over 15 percent higher than January 2024. Other notable gains include the cities of Melfort (12.3 percent), Humboldt (11.5) and Prince Albert (8.3). 

City of Regina

Following a record-breaking sales year in 2024, the City of Regina reported 172 sales in January, down four percent year-over-year but 17 percent above long-term, 10-year trends. 

There were 279 new listings across the Queen City in January, down 10 percent year-over-year and nearly 22 percent below historical averages. As a result, inventory levels remain nearly 50 percent below the 10-year average. At month’s end, just 537 were units available on market, down nearly 225 units from this time last year. 

Regina's residential benchmark price was $316,300 in January, up from $313,400 in December and over five percent higher than January 2024. 

City of Saskatoon

The City of Saskatoon reported 253 home sales in January, a year-over-year increase of over 3 percent and the second-strongest January on record. 

Despite a surge in new listings, Saskatoon’s months of supply remains under 2.5 months, with inventory levels down 15 percent year-over-year and over 50 percent below long-term trends. Notably, less than 450 of the 618 available units at month’s end were not already conditionally sold. 

Saskatoon reported a benchmark price of $403,400 in January, up from $395,300 in December and over seven percent higher than January 2024.

STRONG DECEMBER SALES WRAP UP SASKATCHEWAN’S SECOND-BEST YEAR ON RECORD

Member Note: There was an issue with the Neighbourhood Data in the December Stats run, we are currently working on resolving the issue and will have the Neighbourhood Data published ASAP. Thank you for your understanding and we apologize for the inconvenience! 

Saskatchewan reported 776 sales in December, up three percent year-over-year and nearly 15 percent above long-term, 10-year averages. Above-average December sales capped off the second-strongest year on record for resale housing activity in Saskatchewan, with 16,119 sales across the province in 2024, up nearly nine percent from 2023.

Strong demand throughout 2024 was consistently met with declining new listings, resulting in record inventory lows at various points throughout the year. In December, new listings decreased by 16 percent year-over-year, down nearly 30 percent from 10-year averages and two percent below 2023.

“Our province closed 2024 with an eighteenth consecutive month of above-average sales, an incredible statistic when you consider the significant inventory challenges we’ve faced throughout the year,” noted Association CEO, Chris Guérette. “This lack of available inventory, specifically in the more affordable segment of the market, is very likely preventing even stronger 2024 sales figures.”

Seasonal sales trends allowed the provincial months of supply to reach nearly five months in December, up from below four months in November. However, inventory levels decreased by 20 percent compared to December 2023 and continue to sit over 40 percent below the 10-year average – with even tighter conditions reported in Regina and Saskatoon.

The province’s residential benchmark price stood at $337,800 in December, down slightly from 338,400 in November, consistent with seasonal trends. Despite the slight month-over-month decrease, Saskatchewan’s residential benchmark price grew by nearly seven percent compared to December 2023.

“Saskatchewan’s resale housing market continues to benefit from record population figures, employment growth, and the recent Bank of Canada interest rate cuts,” said Guérette. “As we look ahead to 2025, we expect supply challenges to continue as a dominant theme. If this increased demand continues in the new year, we will likely see prices continue to trend upward across the province.”

Regional Highlights
All regions of the province reported yearly sales that outpaced both 2023 sales levels and long-term, 10-year averages. The Regina-Moose Mountain (up 28 percent compared to 10-year trends), Saskatoon-Biggar (18 percent) and Swift Current-Moose Jaw (17 percent) regions significantly outperformed historical trends in 2024.

As seen throughout much of 2024, the Saskatoon-Biggar (3.23 months of supply) and Regina-Moose Mountain (4.11) regions continue to report the tightest market conditions in the province. Despite seasonal sales trends allowing the months of supply to improve in December, both regions are reporting months of supply over 50 percent below historical averages.

Price Trends
Strong demand paired with low inventory drove price gains throughout much of 2024 – with nearly all areas of the province reporting year-over-year sales gains in December.

For the fifth consecutive month, the City of Moose Jaw led the way with year-over-year price gains of over 14 percent. Additionally, the cities of Humboldt (13.5 percent), Melfort (12.5), and Melville (10.9) all reported double-digit price gains in December.

City of Regina
The City of Regina reported 198 sales in December, a five percent year-over-year increase and over 28 percent above long-term trends. Above-average monthly sales were a consistent theme for the Queen City throughout the year, with 3,917 sales in 2024 – the largest number of yearly sales in Regina’s history.

Despite modest new listing growth compared to 2023, record demand continues to impact Regina’s inventory levels, which declined by 32 percent year-over-year and are currently over 40 percent below historical averages.

Regina’s residential benchmark price was $313,400 in December, down slightly from $313,700 in November and over five percent higher than December 2023.

City of Saskatoon
The City of Saskatoon reported 256 home sales in December, a year-over-year increase of over 12 percent and nearly 20 percent above the 10-year average. With 5,035 annual sales, 2024 marked the second-strongest year on record in the Bridge City, up over eight percent compared to 2023.

At year-end, there were only 555 available units, as inventory levels declined by 25 percent year over year and are nearly 50 percent below historical averages. With only 2.17 months of supply to end the year, Saskatoon’s inventory levels are near record lows for this time of year.

Saskatoon reported a benchmark price of $395,300 in December, down slightly from $398,800 in November, reflecting typical seasonal trends. However, the benchmark price remains over seven percent higher than in December 2023, as tight market conditions continue to drive price gains in Saskatchewan’s largest urban centre.

SUSTAINED HOUSING DEMAND DRIVES NEAR-RECORD NOVEMBER SALES

Saskatchewan reported 1,179 sales in November, marking the second-highest monthly sales volume ever for the month. This represents an 18 percent increase compared to November 2023 and 27 percent above the 10-year historical average. Sales growth was widespread, with nearly all regions of the province contributing to a nine percent year-to-date sales increase.

November marked the seventeenth consecutive month of above-average sales, which coincided with a drop in new listings. This imbalance further reduced inventory levels, which declined by 23 percent year-over-year and currently sit nearly 45 percent below the long-term, 10-year averages—the lowest for November since 2007.

“As 2024 draws to a close, it’s shaping up to be one of the strongest years on record for our province,” said Association CEO Chris Guérette. “Given the ongoing inventory challenges in many Saskatchewan markets, the fact that we’re reporting above-average sales for 17 consecutive months is unprecedented.”

With inventory tightening and demand remaining strong, Saskatchewan reported 3.6 months of supply in November. While this is a slight increase from October, it remains well below typical seasonal levels. These tight market conditions continue to drive price growth, with many communities across the province reporting year-over-year benchmark price increases.

The province’s residential benchmark price stood at $338,400 in November, slightly down from $343,400 in October. However, this seasonal decline aligns with historical patterns, and the November price remains over five percent higher than the same time last year.

“Saskatchewan’s housing market continues to exceed expectations and defy many seasonal trends,” noted Association CEO Chris Guérette. “After a record-breaking October, November delivered the second-highest sales on record for the month, underscoring the sustained strength of housing demand across the province.”

Regional Highlights
Year-to-date sales continue to outpace long-term, 10-year averages across all regions of the province. The Regina-Moose Mountain (up 28 percent year-to-date), Saskatoon-Biggar (18) and Swift Current-Moose Jaw (18) regions are significantly outperforming historical trends.

The Saskatoon-Biggar (2.42 months of supply) and Regina-Moose Mountain (3.21) regions continue to report the tightest market conditions in the province, while conditions remain tight in all other regions relative to the 10-year average.

Price Trends
Tighter market conditions continue to support price growth, with all regions of the province reporting year-over-year benchmark price increases in November. The Prince Albert Region experienced the most significant year-over-year growth (7.2 percent), followed by the Saskatoon-Biggar (6.3) and Swift Current-Moose Jaw (5.9) regions.

For the fourth consecutive month, Moose Jaw posted the largest monthly price gains, with home prices soaring nearly 11 percent compared to the previous year. Notably, all Saskatchewan cities reported year-over-year price growth except for Estevan, Weyburn, and Swift Current.

City of Regina
The City of Regina reported 273 sales in November, an increase of 14 percent year-over-year and over 28 percent above long-term, 10-year trends. These strong sales figures pushed Regina’s year-to-date total to 3,720—a record high for sales through November.

Although there was a modest increase in new listings during the month, inventory levels continued to decline, dropping 34 percent compared to last year and sitting nearly 50 percent below the 10-year average.

Regina’s residential benchmark price was $313,700 in November, down from $321,000 in October, consistent with seasonal trends. Despite the monthly decline, the benchmark price remains nearly four percent higher than in November 2023.

City of Saskatoon
The City of Saskatoon reported 380 home sales in November, a 21 percent increase compared to the same month last year and 32 percent above the 10-year average.

Saskatoon’s strong sales momentum continues to limit inventory relief. With just 693 units currently available on market, the city faces less than two months of supply, emphasizing the sustained demand in Saskatchewan’s largest urban center.

Saskatoon reported a benchmark price of $398,800 in November, a slight decline from $402,600 in October, reflecting typical seasonal trends. However, the benchmark price remains over six percent higher than in November 2023, highlighting the ongoing price growth fueled by tight market conditions.

 STRONG SALES CONTINUE AMID RECORD-BREAKING OCTOBER

 Saskatchewan reported 1,520 sales in October, the highest monthly sales level ever reported for the month. Sales were over 21 percent higher than last year’s levels and 36 percent above long-term, 10-year historical averages. Sales levels improved across all regions of the province in October, contributing to a year-to-date gain of over 8 percent.

 Despite modest monthly growth in new listings, the sixteenth consecutive month of above-average sales in Saskatchewan led to further inventory declines – with inventory at the lowest point in October since 2007. The steepest inventory declines were experienced in homes priced below $300,000, while the only monthly inventory gains were reported in homes priced above $600,000.

 “Saskatchewan continues to benefit from several positive economic factors supporting above-average housing demand across our province,” said Association CEO, Chris Guérette. “Unlike some parts of the country, housing demand remains strong despite significant inventory challenges – as demonstrated by a sixteenth consecutive month of above-average sales.”

 Strong monthly sales, combined with lower inventory, resulted in the months of supply falling to just above three months across the province—an exceptionally low figure for the month of October. The relatively tight market conditions throughout much of 2024 continue to place upward pressure on prices, as nearly all Saskatchewan communities reported year-over-year benchmark price gains this month.

 Saskatchewan reported a residential benchmark price of $343,400 in October, down slightly from $343,800 in September. While a slight month-over-month price decrease is expected and in line with seasonal factors, the October benchmark price is nearly six percent above October 2023 – with prices improving across all property types compared to last year.

 “We typically see less sales activity in the fourth quarter of the year, and when you factor in the scarcity of inventory, the demand we’re seeing that led to record October sales is quite impressive,” said Guérette. “Recent rate cuts are expected to support even stronger demand – with inventory levels below near record lows in some markets across the province, it is a challenging time for prospective buyers right now.”

 Regional Highlights

Year-to-date sales rose across all active regions of the province in October, with many regions reporting levels well above long-term, 10-year trends. New listings were met with strong sales, resulting in widespread inventory declines across the province.

 The Saskatoon-Biggar (2.41 months of supply) and Regina-Moose Mountain (2.62) regions continue to report the tightest market conditions in the province, while conditions remain tight in all other regions relative to long-term trends. 

 Price Trends

Tight market conditions supported year-over-year benchmark price growth across all regions of the province in October – with the most significant year-to-date growth occurring in the Saskatoon-Biggar Region.

 The City of Moose Jaw is again reporting the largest monthly price gains, with prices over 11 percent higher than last year. Meanwhile, all Saskatchewan cities reported year-over-year price gains in October.

 City of Regina

The City of Regina reported 364 sales in October, an increase of 18 percent year-over-year and 47 percent above long-term, 10-year trends. Further sales gains in October contributed to 3,447 year-to-date sales, the highest year-to-date sales figure ever reported through October in the Queen City.

 New listings continue to struggle to keep pace with surging sales, resulting in a 31 percent year-over-year inventory decline and less than two months of supply available on market.

 Regina reported a residential benchmark price of $321,000 in October, up from $320,700 in September and five percent higher than October 2023.

 City of Saskatoon

The City of Saskatoon reported a record-high 444 sales in October, a year-over-year increase of 17 percent and nearly 30 percent above long-term, 10-year averages.

 Strong sales levels continue to prevent any significant inventory relief in the Bridge City, as the 803 units available on market reflect the lowest level reported in October since 2006, with less than two months of supply available across the city.

 Saskatoon reported a residential benchmark price of $402,600 in October, up from $401,800 in September and nearly seven percent higher than October 2023.

NEAR-RECORD SEPTEMBER SALES DRIVEN BY STRONG DETACHED ACTIVITY

Saskatchewan reported 1,398 sales in September, an eight percent year-over-year increase and nearly 15 percent above long-term, 10-year trends. September marked the fifteenth consecutive month of above-average sales in Saskatchewan, with sales levels across the province amongst the strongest ever reported for the month.

Strong gains in the detached sector drove much of the year-over-year sales growth, accounting for nearly 73 percent of monthly sales. Sales levels also improved across nearly every region of the province, with year-to-date sales currently on pace to be the second highest on record.

“Record population growth, favourable economic conditions, and an improving labour market continue to support strong demand in Saskatchewan’s housing market,” said Association CEO, Chris Guérette. “When paired with easing lending rates, these factors are, without question, contributing to a fifteenth consecutive month of above-average sales.”

New listings trended down in September, a two percent year-over-year decline and over 16 percent below long-term trends. The pullback in new listings relative to sales resulted in a 17 percent year-over-year inventory decline, nearly 40 percent below the 10-year average—the lowest level reported in September since 2007.

Saskatchewan reported a residential benchmark price of $343,800 in September, down from $344,700 in August and nearly six percent above September 2023. Meanwhile, all Saskatchewan cities reported year-over-year benchmark price increases – with the largest increase (13 percent) in the City of Moose Jaw.

Regional Highlights

Year-to-date sales growth has been largely driven by gains in the Regina Moose-Mountain, Saskatoon-Biggar, and Swift Current-Moose Jaw regions, which account for 81 percent of all sales in the province. Meanwhile, sales activity in the Prince Albert and Yorkton-Melville regions remains in line with last year’s activity while still outperforming long-term trends.

The Saskatoon-Biggar region continues to report the tightest market conditions in the province, with inventory levels nearly 45 percent below the 10-year average.

Price Trends

All provincial economic regions reported year-over-year price gains in September, with the strongest price growth occurring in the Saskatoon-Biggar and Swift Current-Moose Jaw regions.

With prices nearly 13 percent higher than last year, the city of Moose Jaw reported the largest price gain in September, followed by Yorkton at eight percent and Humboldt at over seven percent.

City of Regina

The City of Regina reported 320 sales in August – the second-highest level on record for the month – up five per cent year-over-year and 19 per cent above long-term, 10-year trends.

Strong sales figures were met with declining new listings, resulting in a 23 percent year-over-year decline in inventory, over 40 percent below long-term trends.

The City of Regina reported a benchmark price of $320,700 in September, up from 319,700 in August and nearly five percent above September 2023.

City of Saskatoon

The City of Saskatoon reported 432 sales in August, an increase of 16 percent year over year and 24 percent above long-term, 10-year trends.

Limited supply options continue to prevent even stronger sales figures in Saskatoon. Monthly inventory levels remain over 46 percent below the 10-year average and the lowest reported in September since 2007.

The City of Saskatoon reported a record benchmark price of $401,800 in September, down from $404,900 in August but nearly seven percent higher than September 2023.

ABOVE-AVERAGE SALES CONTINUE TO DRIVE PRICE GROWTH IN AUGUST

Saskatchewan reported 1,507 sales in August, a seven per cent year-over-year decrease but over 12 per cent above long-term, 10-year averages. Despite a slight pullback in sales, August marked the fourteenth consecutive month of above-average sales, and year-to-date sales remain seven per cent higher than levels reported last year.

A modest gain in new listings relative to sales resulted in the sales-to-new-listings ratio trending down from levels reported over the last few months, preventing an even more significant monthly decline in inventory levels. However, inventory levels slid by 17 per cent year-over-year and remain 40 per cent below long-term averages.

“Unlike many other parts of the country, sales in our province continue to outperform historical averages for a fourteenth consecutive month,” noted Association CEO, Chris Guérette. “Saskatchewan’s relative affordability, when paired with employment gains and falling unemployment rates, continues to support strong housing demand in our province.”

Easing supply levels, especially in the lower price ranges, are again placing upward pressure on home prices. In August, Saskatchewan reported a residential benchmark price of $344,700, a six-percent year-over-year gain.

“Inventory levels remain over 40 per cent below average province-wide and in our two largest centres – and we’re seeing the impact that can have on prices,” said Guérette. “Nearly all regions of the province saw year-over-year price growth in August, as high as 11 per cent in Moose Jaw and 9 per cent in Saskatoon – that’s very significant.”

Regional Highlights
Regina-Moose Mountain was the only economic region to report a year-over-year sales increase in August, while many regions continue to report sales levels above long-term, 10-year trends.

All regions except the Northern region continue to report year-to-date sales well above the 10-year average – with the strongest sales levels occurring in the Regina-Moose Mountain, Saskatoon-Biggar, and Swift Current-Moose Jaw regions. Meanwhile, the Saskatoon-Biggar region continues to report the tightest market conditions in the province.

Price Trends
Home prices trended up across nearly all economic regions of the province in August, with the largest monthly gains occurring in the Swift Current- Moose Jaw (nine per cent year-over-year) and Saskatoon-Biggar (eight per cent) regions.

With prices nearly 11 per cent higher than last year, Moose Jaw reported the largest price gain in August, followed by Saskatoon at eight per cent. Meanwhile, Regina, Estevan, Weyburn, Swift Current, Melville, Yorkton, Humboldt, Meadow Lake, North Battleford, and Prince Albert all reported year-over-year price gains in August.

City of Regina
The City of Regina reported 387 sales in August, up eight per cent year-over-year and 29 per cent above long-term, 10-year trends.

With a year-to-date sales total of 2,765 units, 15 per cent higher than last year, the Queen City continues to report strong sales despite persistent inventory challenges. Monthly gains in new listings were not enough to offset strong sales levels, as inventory levels declined by 22 per cent year-over-year and remain over 40 per cent below long-term, 10-year trends.

The City of Regina reported a benchmark price of $319,700 in August, up from $318,400 in July and three percent above August 2023.

City of Saskatoon
The City of Saskatoon reported 457 sales in August, a 13 per cent year-over-year decrease. Despite the slight sales dip, August sales levels were 14 per cent above the 10-year average.

Limited supply options continue to prevent stronger sales figures in Saskatoon, as inventory levels remain over 48 per cent below long-term trends. While a monthly gain in new listings did support modest inventory relief, Saskatoon continues to report the tightest market conditions in the province.

Tight market conditions continue to place upward pressure on home prices as the City of Saskatoon reported a record benchmark price of $404,900 in August, a year-over-year increase of over eight per cent.