Saskatchewan Real Estate Market Update – March 2025
Surging Sales, Shrinking Supply: A Spring Market Like No Other
March 2025 proved once again that Saskatchewan’s housing market is in a league of its own, defying national trends with strength and consistency. With 1,277 sales across the province, activity was up 8.4% year-over-year and 13.4% above the 10-year average, signaling a bustling early spring market.
Inventory at Record Lows
Despite the uptick in sales, new listings fell 2% compared to March 2024, leaving many regions scrambling for inventory. The total number of homes available sat at 4,023, which is 21% lower than last year and a stunning 47.7% below the 10-year average. This ongoing supply crunch has created some of the tightest market conditions the province has ever seen.
In cities like Saskatoon, inventory levels are down to just 0.98 months of supply, while Regina is at 1.29 months. Both are entering the spring market with severe shortages, making it an extremely competitive environment for buyers.
Benchmark Price Continues to Climb
The provincial benchmark price rose to $353,600, marking a 6.3% year-over-year increase. Cities leading the way in price growth include:
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Melfort: +22%
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Prince Albert: +11.7%
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North Battleford: +11.5%
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Moose Jaw: +10.7%
Strong demand and limited inventory continue to push home prices higher across most markets.
Regional Highlights
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Saskatoon-Biggar and Regina-Moose Mountain regions had the tightest conditions, both with under 3 months of supply.
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Yorkton-Melville led in sales growth, jumping 13% year-over-year.
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All major regions except the Northern region experienced increased sales activity.
What This Means for Buyers and Sellers
For buyers, competition is fierce. Be prepared to act fast and work with a real estate professional who knows how to navigate bidding wars and price escalations.
For sellers, these are ideal conditions. With fewer listings and motivated buyers, properties are moving quickly—often above asking.
If you’re thinking about entering the market this spring—whether to buy, sell, or invest—now is the time to talk to a local expert who understands your neighborhood and the bigger market picture.
Posted by Kent Braaten on
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