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.