RECORD HOME PRICES IN APRIL AS INVENTORY REMAINS TIGHT ACROSS SASKATCHEWAN  

Saskatchewan reported 1,470 home sales in April, marking a 10 percent decline compared to April 2024, the second-strongest April on record in our province. However, despite the year-over-year dip, sales remained significantly above the 10-year average for the 22nd consecutive month — a clear sign of continued market strength.

New listings were also down, falling over seven percent year-over-year and sitting 17 percent below the 10-year average. These persistent supply shortages continue to limit inventory recovery, even as sales ease slightly. 

“Our market continues to demonstrate remarkable resilience, with 22 straight months of sales outperforming long-term trends,” said Association CEO, Chris Guérette. “Although sales decreased in April compared to last year, this isn’t a demand issue — it's an inventory issue. The current inventory situation directly impacts our market’s ability to sustain even higher sales.”

At the end of April, there were 4,371 active listings across the province — up slightly from 3,851 in March. Despite this monthly increase, inventory was still down 18 percent year-over-year and remains nearly 50 percent below the 10-year average.

Tight market conditions continue to drive higher home prices, as Saskatchewan’s residential benchmark price rose to a record-high $360,500 in April —up from $353,600 in March and more than 6 percent higher than April 2024.

“We’re pleased to see our market weathering both economic uncertainty and ongoing supply challenges,” Guérette added. “It remains a challenging time for prospective buyers, but we’re cautiously optimistic that the slight rise in inventory this month is a step in the right direction.” 

Regional Highlights

Nearly every economic region in the province reported year-over-year sales declines in April. However, the Yorkton-Melville region was an outlier, reporting sales eight percent higher than April 2024 and over 18 percent above long-term, 10-year trends. 

The Regina-Moose Mountain and Saskatoon-Biggar regions continue to experience the tightest market conditions in the province, as both regions report less than two-and-a-half months of supply heading into May. 

Price Trends

Despite modest year-over-year sales declines, supply challenges and competitive market conditions resulted in price gains across nearly all regions of the province in April. 

The City of Humboldt reported benchmark price gains of nearly 12 percent in April, while Melfort (11.3 percent), Moose Jaw (10.9 percent), Prince Albert (8.0 percent) and North Battleford (6.9 percent) all reported notable gains. 

City of Regina

The City of Regina reported 365 sales in April, down 13 percent year-over-year but still well outpacing long-term, 10-year averages by over 26 percent. 

There were 494 new listings in April, down four percent year-over-year and over seven below the 10-year average. Of note, 179 of the 636 units available at month’s end were already conditionally sold, leaving just 457 active units heading into May. 

Regina reported a record benchmark price of $335,500 in April, up from $326,300 in March and over five percent above April 2024. 

City of Saskatoon

Saskatoon reported 440 sales in April, down nearly 16 percent year-over-year but 11 percent above the 10-year average. 

New listings declined by 12 percent year-over-year and over 18 percent below long-term trends. Of the 681 available units at month’s end, 230 were conditionally sold, leaving just 451 units on the market with active status. 

Saskatoon continues to set new price records, with a benchmark price of $422,600 in April, up from the prior record of $415,900 in March and over seven percent above April 2024.

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.