Building on a record-breaking July, Saskatchewan’s housing market continued to buck national trends in August, marking 26 consecutive months of above-average sales. With 1,559 transactions reported across the province – up nearly 4% year-over-year and 15% above the 10-year average  – Saskatchewan has wrapped up an exceptionally active summer, outpacing many other provinces.

Despite new listings declining by 5 percent year-over-year, provincial inventory levels remained nearly unchanged in August. Over 1,000 of the 5,168 active units available at month’s end were conditionally sold and expected to leave the market, resulting in 4,137 available units heading into September. 

“Saskatchewan’s housing market delivered another strong performance in August – not quite matching the record-breaking numbers from July, but clearly maintaining its momentum,” said Association CEO, Chris Guérette. “Year-to-date sales continue to surpass the near-record levels we saw in 2024, and I expect to close our third quarter statistics next month with the same intensity in sales and shortage of inventory.”

The provincial residential benchmark price reached $372,200 in August, a slight dip from July’s record high of $372,700. While this modest month-over-month decline aligns with typical seasonal trends, the benchmark price was eight percent higher than in August 2024, highlighting sustained year-over-year price growth in Saskatchewan’s housing market.

“Once again, Saskatchewan’s market is outperforming expectations, with another month of strong sales and notable price growth,” said Guérette. “While we anticipate some seasonal slowing in transaction volumes over the coming months, underlying demand remains strong across the province – and we expect that momentum to carry through the remainder of 2025.”

###

Regional Highlights 

The Prince Albert, Saskatoon-Biggar, Swift Current-Moose Jaw and Northern economic regions all reported year-over-year sales gains in August, with sales levels well above long-term, 10-year averages.

Regina-Moose Mountain (2.9 months of supply) and Saskatoon-Biggar (2.4) continue to experience the province's tightest market conditions. Notably, five of the six provincial economic regions are reporting inventory levels at least 40 percent below 10-year averages.

Price Trends

All Saskatchewan communities reported year-over-year price gains for the fourth consecutive month, while the City of Saskatoon set a new benchmark price record at $435,900.

Seven communities reported double-digit price gains in August. Melfort saw the largest year-over-year increase, with prices nearly 19 percent higher than August 2024. Other notable gains included Humboldt (15 percent), Estevan (13 percent), Moose Jaw (12 percent), and Prince Albert (12 percent).

City of Regina

Regina reported 356 sales in August, down eight percent year-over-year. Despite the year-over-year sales decline, August sales were still over 14 percent above the 10-year average.

There were 465 new listings throughout the month, down seven percent compared to August 2024. When paired with above-average monthly sales, inventory levels remained relatively unchanged from the month prior. With over 200 of the 824 active units available at month’s end already conditionally sold, Regina is heading into September with 599 available units.

The Queen City reported a residential benchmark price of $341,300 in August, down from a record $343,300 in July. However, despite the slight monthly price dip, prices were seven percent higher than those reported last August. 

City of Saskatoon

Saskatoon reported 451 sales throughout the month, down one percent year-over-year but still well above the 10-year historical average.

New listings fell 10 percent year-over-year, with 650 properties added to the market in August. Despite declining new listings and above-average sales, inventory levels were consistent with the month prior. Nearly one-third of the 910 active listings at the end of August were conditionally sold, leaving just 643 units available heading into September.

The Bridge City continues to set new price records, with a residential benchmark price of $435,900 in August – up from $432,700 in July and eight percent higher than August 2024.

#Yxe #yxerealestate #saskatoonsales #saskrealestate #saskatoonsold

Saskatchewan’s housing market continued its hot streak last month, with a July record 1,851 sales across the province — up 11 percent year-over-year and over 30 percent above long-term, 10-year trends.

Following record July monthly sales, year-to-date sales have outpaced 2024 levels through the first seven months of 2025. Of note, 2024 was the province's second-best year for sales on record, underscoring the strength of the current market.

Despite a year-over-year gain in new listings, record monthly sales resulted in province-wide inventory remaining unchanged from June. With over 1,000 of the 5,214 units available at the end of July already conditionally sold, only 4,174 active units remain heading into August.

“Saskatchewan’s housing market continues to benefit from a strong and growing economy, record population growth, and the lowest unemployment rate in the country,” said Association CEO, Chris Guérette. “Our market is consistently surpassing expectations and outpacing many others across the nation, with a strong start to 2025 and now record-breaking monthly sales in July.”

Twenty-five consecutive months of above-average sales, paired with persistent supply challenges, continue to drive prices higher across the province. In July, the provincial residential benchmark price hit an all-time high of $372,700, up from $370,700 in June and over eight percent higher than in July 2024.

In addition to a new record provincial benchmark price, the cities of Humboldt, Meadow Lake, Melville, Regina, Saskatoon, Swift Current, and Yorkton recorded record benchmark prices in July.

“We’ve now seen record prices across dozens of communities for three consecutive months – with year-over-year price growth in the high teens – something we’ve been warning about for months,” said Guérette. “We’re thrilled to see record demand and more people calling Saskatchewan home, but we need to keep building more, faster, if we want to maintain our affordability advantage.”

###

Regional Highlights 

The Prince Albert, Regina-Moose Mountain, Saskatoon-Biggar, and Yorkton-Melville economic regions all reported year-over-year sales gains in July, with sales levels well above long-term, 10-year averages.

Regina-Moose Mountain (2.6 months of supply) and Saskatoon-Biggar (1.9) continue to experience the province's tightest market conditions.

Price Trends

All Saskatchewan communities reported year-over-year price gains for the third straight month, while six set new benchmark price records.

Eight communities reported double-digit price gains in July, with Humboldt leading the way with prices nearly 17 percent higher than in July 2024. Other notable gains included Melville (16 percent), Melfort (14 percent), Moose Jaw (14 percent), Meadow Lake (13 percent), Yorkton (11 percent), Prince Albert (11 percent), and Swift Current (10 percent).

City of Regina

Regina reported a July record of 412 sales, up over eight percent year-over-year and over 30 percent above the 10-year average.

530 new listings (down one percent year-over-year) hit the market in July, but strong monthly sales prevented inventory relief. Over 200 of the 827 units available at month’s end were conditionally sold and expected to exit the market, leaving Regina with only 607 active units heading into August.

Tight market conditions continue to drive record prices in the Queen City, as July’s benchmark price of $343,300 (up eight percent compared to July 2024) eclipsed the previous high of $343,200 in June.

City of Saskatoon

Saskatoon reported a record-high 610 sales in July, up seventeen percent year-over-year and nearly 40 percent above long-term, 10-year averages.

New listings rose 11 percent year-over-year, with 784 new listings hitting the market in July. However, despite the rise in new listings, inventory levels remain over 45 percent below the 10-year average. Over one-third of the 895 units available at month’s end are conditionally sold, resulting in only 594 active units heading into August.

Saskatoon set another benchmark price record in July, as the Bridge City reported a benchmark price of $435,100, up from $432,700 in June and seven percent higher than in July 2024.

https://realestatemagazine.ca/jordan-boyes-betting-on-himself-and-winning-big-in-real-estate/

Saskatchewan reported 1,768 home sales in June, marking it the third busiest June on record. June sales were up six percent year-over-year, and nearly 15 percent above long-term, 10-year averages.

Despite economic headwinds and persistent supply challenges throughout the first half of 2025, Saskatchewan’s housing market closed the year’s second quarter with sales consistent with 2024 levels. Notably, 2024 was the province’s second strongest year of sales on record.

While monthly sales remain strong, a year-over-year gain in new listings contributed to a modest inventory gain in June. However, with nearly 1,100 of the 5,215 units available at the end of June already conditionally sold, only 4,144 active units remain at the beginning of July, while inventory levels remain over 40 percent below the 10-year average.

“We’ve now seen monthly sales levels outpace the 10-year average for two whole years; that’s an incredible story that Saskatchewan is telling right now,” noted Association CEO Chris Guérette. “Near-record sales in 2024 and the strong start we’ve seen in 2025 – all while navigating the worst inventory challenges we’ve seen since 2007 – it’s beyond impressive.”

Above-average sales and ongoing inventory challenges continue to support price growth across the province. In June, the provincial residential benchmark price hit an all-time high of $370,700, up from $369,500 in May and eight percent higher than June 2024.

In addition to a new record provincial benchmark price, the cities of Humboldt, Martensville, Melville, Moose Jaw, Swift Current, Regina, and Warman recorded record benchmark prices for the second consecutive month.

“We’re seeing record price growth for a second consecutive month - as high as 16 percent year-over-year in some markets - which speaks to the supply and demand challenges we’re experiencing right now,” said Guérette. “Despite these challenges, we’re encouraged by consecutive months of strong housing start figures and remain hopeful that supply relief is on the way.”

###

Regional Highlights 

The Prince Albert, Regina-Moose Mountain, Saskatoon-Biggar, and Yorkton-Melville economic regions reported year-over-year sales gains in June, with sales levels well above long-term, 10-year averages.

As seen in prior months, the Regina-Moose Mountain (2.76 months of supply) and Saskatoon-Biggar (2.01) continue to experience the tightest market conditions in the province.

Price Trends

All Saskatchewan communities reported year-over-year price gains for the second straight month, while seven set new benchmark price records in June. 

Moose Jaw led the way in year-over-year price growth, with prices nearly 16 percent higher than in June 2024. Other notable gains included Humboldt (15 percent), Melville (11 percent), Meadow Lake (10 percent), and Prince Albert (9 percent)

City of Regina

Regina reported 402 sales in June, up over six percent year-over-year and nearly 17 percent above the 10-year average.

568 new listings (up eight percent year-over-year) hit the market in June, contributing to a modest inventory increase from May. However, of the 818 units available at month’s end, 207 are conditionally sold and expected to exit the market, leaving Regina with only 611 active units heading into July.

Tight market conditions continue to drive record prices in the Queen City, as June’s benchmark price of $343,200 (up eight percent compared to June 2024) eclipsed the previous high of $340,800 in May. 

City of Saskatoon

Saskatoon reported 575 sales in June, the second-largest number of sales on record for the month. June sales were up seven percent year-over-year and 22 percent above long-term, 10-year averages.

New listings rose 18 percent year-over-year, with 789 new listings hitting the market in June. Despite the rise in new listings, inventory levels remain 45 percent below historical averages for this time of year. Of the 937 units available at month’s end, over one-third are conditionally sold, leaving only 600 active units heading into July.

Saskatoon’s streak of record benchmark gains ended in June, as the Bridge City reported a benchmark price of $432,700, down from $433,700 in May but still over seven percent higher than June 2024.

Saskatchewan recorded 1,750 home sales in May, a five percent decrease compared to May 2024. However, sales remained over 16 percent above the province’s 10-year average for the month of May. Following a near-record year in 2024, year-to-date sales have also declined by nearly three percent through the first five months of 2025, but continue to outperform long-term, historical trends.

Despite strong monthly sales, inventory levels increased compared to the month prior, with 5,008 available units across the province at month’s end. While this modest inventory gain offered some relief, over 900 of these units are conditionally sold and expected to leave the market, while inventory levels remain over 40 percent below the 10-year average.

“Our province’s housing market continues to exceed expectations, with May marking 23 consecutive months of sales above the 10-year average,” said Association CEO Chris Guérette. “The key takeaway isn’t the slight year-over-year sales dip following a near-record 2024 – it is our market’s continued resilience amid economic uncertainty and persistent supply challenges."

Tight market conditions continued to drive further gains this month, as the province’s residential benchmark price rose to a record-high $369,500 in May, up from $360,500 in April and nearly nine percent higher than May 2024. 

Significant price gains were not limited to the provincial benchmark price in May, as the cities of Humboldt, Martensville, Meadow Lake, Melville, Melfort, Moose Jaw, North Battleford, Prince Albert, Regina, Saskatoon, Swift Current, and Warman all reported record benchmark prices this month.

“Record benchmark prices across nearly a dozen communities in May, with price gains as high as 18 percent year-over-year, is quite significant,” noted Guérette. “We’re optimistic that market conditions will trend more towards balance in the coming months, but we see the impact it can have on housing prices when the market is this tight.”

###

Regional Highlights 

The Yorkton-Melville and Swift Current-Moose Jaw regions reported year-over-year sales gains in May, while other regions reported sales declines compared to near-record 2024 sales levels.

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 June. 

Price Trends

All regions of the province reported year-over-year price gains in May, with 11 communities setting new benchmark price records.

The City of Humboldt led the way in price gains for a second consecutive month, with prices nearly 18 percent higher than May 2024. Other notable gains include Meadow Lake (up 14 percent), Moose Jaw (13 percent), Prince Albert (12 percent), North Battleford (11 percent), and Melfort (10 percent).

City of Regina

The City of Regina reported 422 sales in May, down three percent year-over-year and over 23 percent above long-term, 10-year trends.

There were 622 new listings in May, up over 11 percent year-over-year and in line with historical averages for May. Despite some new listing relief, 172 of the 755 units available at the end of the month were conditionally sold, with 543 active units, or 1.8 months of supply, heading into June.

Regina reported a record benchmark price of $340,800 in May, up from $335,500 in April, and nearly seven percent higher than May 2024.

City of Saskatoon

Saskatoon reported 544 sales in May, down nearly five percent year-over-year but nearly 20 percent above the 10-year average.

New listings increased by 13 percent year-over-year and were in line with 10-year trends for May. Notably, nearly 300 of the 881 units available at the end of May were conditionally sold, resulting in 555 active units or 1.6 months of supply at the beginning of June.

Prices continue to surge in Saskatoon, as the Bridge City reported a new record benchmark price of $433,700 in May, up from $422,600 in April and over nine percent higher than May 2024.

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’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.  

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.

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.

Saskatchewan reported 1,520 sales in October, the highest monthly sales level ever reported in October. 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.

#realestate #yxe #sale #saskatoonrealestate #saskatoon