Saskatoon Real Estate Market Sets New Price Record in March 2025 Amid Low Supply
The Saskatoon real estate market came in strong this March 2025, showing signs of tight inventory and rising demand. With 403 residential sales recorded, activity surged 11% compared to March 2024 and sits 13% above the 10-year average.
Despite stronger sales, new listings were slightly down—just 1% lower year-over-year and 27% below the 10-year average. That drop in new inventory has pushed supply down to just 1.49 months, the lowest level seen entering April since 2007. Of the 602 units available at month’s end, 195 were already conditionally sold, leaving buyers with a razor-thin selection of active listings.
As demand continues to outpace supply, prices have climbed accordingly. Saskatoon hit a record benchmark price of $415,900, a $10,500 jump from February 2025 and more than $25,000 above the benchmark this time last year—representing a 6.4% year-over-year increase.
Notable Stats at a Glance:
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Benchmark Price: $415,900 (↑ 6.4% YoY)
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Sales: 403 homes sold (↑ 11% YoY)
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New Listings: 535 (↓ 1% YoY)
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Inventory: 602 active listings (↓ 25% YoY)
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Months of Supply: 1.49 (tightest since 2007)
The low inventory continues to create a competitive environment for buyers, especially first-timers and those searching under the $400K price range. With sellers seeing multiple-offer situations and prices rising steadily, it's a great time to list if you've been on the fence.
If you’re considering buying or selling in Saskatoon, I’m here to help guide you through this fast-moving market.
FAQs
What was Saskatoon's benchmark home price in March 2025?
Saskatoon's benchmark price reached a record $415,900 in March 2025. That was $10,500 higher than February and represented a 6.4% increase compared with March 2024.
Why did Saskatoon home prices rise in March 2025?
Prices rose as demand continued to outpace supply. Sales increased 11% year over year, while new listings were down 1% and active inventory fell 25%, creating more competition among buyers.
How much housing supply was available in Saskatoon in March 2025?
Saskatoon had 1.49 months of supply at the end of March, the lowest level seen entering April since 2007. There were 602 units available, but 195 were already conditionally sold, leaving buyers with fewer active options.
Is March 2025 a good time to buy a home in Saskatoon?
Buyers can still find opportunities, but the market is competitive, particularly for first-time buyers and those searching below $400,000. With limited inventory and rising prices, buyers should be prepared to act quickly when a suitable property becomes available.
Should I sell my Saskatoon home while inventory is low?
Low inventory and strong sales are creating favourable conditions for sellers in Saskatoon. Multiple-offer situations and a record benchmark price suggest that sellers may attract strong interest, especially when their home is priced appropriately and presented well.
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