Posted by Kent Braaten on Thursday, May 8th, 2025 10:35am.
Despite a 10% year-over-year decline in home sales, April 2025 marked Saskatchewan’s second-strongest April on record. With 1,470 sales reported, this is the 22nd consecutive month that activity has outpaced the 10-year average, showing the market's underlying strength. However, this drop isn’t about demand—it’s about availability.
New listings were down 7% compared to April 2024, and active inventory sat at 4,371—down 18% year-over-year and a staggering 47% below the 10-year average. These persistent shortages continue to shape Saskatchewan’s real estate landscape.
“We’re not seeing a decline in buyer interest,” explains SRA CEO Chris Guérette. “It’s an inventory issue, not a demand one.”
This tightening has pushed benchmark home prices to a new high. April’s provincial benchmark price rose to $360,500, a 6.5% year-over-year increase. Regions such as Humboldt (+11.6%), Melfort (+11.3%), and Moose Jaw (+10.9%) saw particularly steep gains.
Some regional highlights:
Yorkton-Melville defied provincial trends, posting an 8% sales increase over last year.
Saskatoon-Biggar and Regina-Moose Mountain have the tightest markets with under 2.5 months of supply.
Moose Jaw and Prince Albert led in benchmark price growth, reflecting strong localized demand.
With only 2.97 months of supply available, Saskatchewan remains in a seller’s market. While a slight monthly bump in inventory provides cautious optimism, prices are likely to remain elevated until supply significantly improves.
Home sales dropped due to a lack of inventory, not a lack of demand. Buyer interest remains high across the province.
In April 2025, the benchmark home price in Saskatchewan reached a record high of $360,500.
The Saskatoon-Biggar and Regina-Moose Mountain regions are the most competitive, with under 2.5 months of supply.
With inventory still far below historical norms, home prices are expected to remain high or continue increasing in the near term.