Saskatoon Real Estate Update: Single-Family Home Prices Hit $507,000 in May
The Saskatoon housing market continues its record-setting trajectory with the average sale price of a single-family home hitting $507,500 in May 2025. This marks a substantial jump from May 2024’s average of $475,000—an increase of $32,000 year-over-year.
Tight inventory remains the driving force behind this price growth. With more buyers than available listings, bidding wars and upward pressure on prices are becoming increasingly common. This imbalance between demand and supply is a key factor contributing to the month-over-month increases we’ve seen throughout 2025.
As a local real estate professional who began their career in 2010, I missed the last major boom in 2007–2008, but many long-time agents have mentioned: “This market feels like that time.” And the data backs that sentiment. Despite fluctuations over the years, home prices in Saskatoon have trended steadily upward—with sharp increases in the past two years.
The big question on everyone’s mind: Is this the new normal? Will prices stabilize once new inventory enters the market, or are we entering a long-term price plateau at higher levels?
While it’s impossible to predict with certainty, one thing is clear—Saskatoon remains a strong and resilient market, and homeownership is becoming increasingly valuable.
If you’re thinking about buying or selling in this evolving landscape, let’s chat about your options. It’s never been more important to have a strategy tailored to your goals.
FAQs
Why did Saskatoon home prices rise above $500K in May 2025?
Low inventory levels and high demand pushed the average price of a single-family home to $507,000 in May 2025.
Is this price growth sustainable in Saskatoon?
It depends on future inventory levels. If more homes come on the market, prices may stabilize. But demand remains strong.
How does this compare to last year?
In May 2024, the average detached home price was $475,000. May 2025’s $507,000 marks a $32,000 increase.
Should I buy now or wait for prices to drop?
If you're ready to buy, it's smart to act while interest rates are favourable. Waiting may not guarantee lower prices.
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