Saskatoon Real Estate Market Update – May 2026

The Saskatoon real estate market remained very competitive in May 2026, with tight inventory continuing to shape conditions for both buyers and sellers. While sales were slightly lower than last year, demand remained well above long-term averages, and prices reached another record high.

According to the May 2026 market stats, Saskatoon recorded 519 residential sales, down 4.4% year-over-year, but still 10.7% above the 10-year average. New listings came in at 821, down 9.1% year-over-year, while inventory sat at 837 active units, down 5.4% from last year and significantly below historical norms.

One of the biggest stories continues to be supply. Saskatoon ended May with only 1.61 months of supply, which is extremely low and points to continued seller-favoured conditions. When conditional sales are factored in, the report notes that months of supply drops closer to 1.1 months, with more than 250 of the available units already conditionally sold.

Saskatoon Home Prices Hit a New Record

The total residential benchmark price reached $444,400 in May 2026, up 3.2% year-over-year. This was also up from $433,200 in April and above the previous high of $435,200, setting a new record for Saskatoon.

The average residential sale price was $472,701, up approximately 10% year-over-year, while the average days on market was just 23 days. The sale-price-to-list-price ratio was also strong at 101.8%, showing that many homes continued to sell very close to, or above, their asking price.

Detached Homes Continued to Lead the Market

Detached homes made up the largest share of activity in May, with 325 sales. The detached benchmark price was $517,000, up 4% year-over-year, while the average detached sale price reached $553,917. Detached inventory remained tight, with only 1.53 months of supply.

Other property types also showed strong pricing:

• Semi-detached benchmark price: $536,600
• Row/townhouse benchmark price: $364,400
• Apartment benchmark price: $263,700

Row/townhouse sales were up year-over-year, while apartment sales were lower than last May, but both segments remained affected by limited available inventory.

What This Means for Sellers

For sellers, May continued to offer favourable conditions. Low inventory, strong buyer demand, and a sale-price-to-list-price ratio above 100% created a market where well-priced homes had the potential to attract strong interest quickly.

That said, pricing still matters. Buyers are active, but they are also paying attention to condition, location, upgrades, and comparable sales. Homes that are priced correctly from the start are more likely to generate early showings and stronger offers.

What This Means for Buyers

For buyers, the Saskatoon market remained competitive. With only 1.61 months of supply, buyers needed to be prepared before viewing homes. That means having financing in place, watching new listings closely, and being ready to act when the right property becomes available.

This does not mean every property sells instantly or above asking, but it does mean buyers should expect competition in popular price ranges, neighbourhoods, and property types.

Saskatoon Market Outlook

The May 2026 numbers show that Saskatoon’s housing market is still being driven by the same key factor: limited supply. Sales remain above the 10-year average, inventory remains far below normal, and benchmark prices continue to climb.

Heading into the summer market, buyers can expect continued competition, especially for detached homes and well-priced properties. Sellers who are considering listing may still be in a strong position, particularly if their home is priced strategically and presented well.

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