Saskatchewan recorded 1,398 home sales in September, marking an 8.0 per cent increase from last year and 15 per cent above the 10-year average, the Saskatchewan Realtors Association (SRA) reports. This is the 15th consecutive month of above-average sales in the province, with some of the strongest figures ever reported for September.

“Record population growth, favourable economic conditions and an improving labour market continue to support strong demand in Saskatchewan’s housing market,” says SRA CEO, Chris Guérette. “When paired with easing lending rates, these factors are, without question, contributing to a fifteenth consecutive month of above-average sales.”

Sales & inventory highlights

Detached homes accounted for 73 per cent of the sales growth, with regions across the province seeing improvements and year-to-date sales on track to be the second-highest on record.

New listings dropped 2.0 per cent year-over-year, falling 16 per cent below long-term trends. This, combined with strong sales, led to a 17 per cent inventory decline, pushing levels to their lowest since 2007.

Price highlights

The provincial benchmark price in September was $343,800, down slightly from August but up nearly 6.0 per cent from last year.

Moose Jaw led the province’s price gains with a 13 per cent increase, while Saskatoon reported a record benchmark price of $401,800, up 7.0 per cent year-over-year.

Regina highlights

Regina reported 320 sales last month — the second-highest level on record and a 5.0 per cent year-over-year and 19 per cent long-term trend increase.

The city’s new listings were down, creating a 23 per cent inventory dip year-over-year. Its benchmark price was $320,700 in September, nearly five per cent above the year prior. 

Saskatoon highlights

Saskatoon reported 432 sales last month — a 16 per cent year-over-year and 24 per cent long-term trend increase.

The city’s supply is still limited and prevented strong sales, with September’s inventory levels at over 46 per cent below the 10-year average and the lowest reported for the month since 2007.

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Last month, Saskatchewan reported 1,507 residential property sales, the Saskatchewan Realtors Association (SRA) reports.

This was a 7.0 per cent year-over-year decline but over 12 per cent above long-term averages, with August marking the 14th consecutive month of above-average sales. This is unlike other Canadian markets, SRA’s CEO, Chris Guérette, points out.

Relative affordability and strong employment continues to support provincial housing demand

The sales-to-new-listings ratio decreased from levels over the last few months, thanks to few new listings compared to sales.

This prevented an even greater monthly decline in inventory. That said, inventory levels still decreased by 17 per cent year-over-year and are 40 per cent below long-term averages.

“Saskatchewan’s relative affordability, when paired with employment gains and falling unemployment rates, continues to support strong housing demand in our province,” notes Guérette.

‘Very significant’ price growth in Saskatoon and Moose Jaw

Less supply, especially in the lower price ranges, are pushing prices upward: last month the province reported a residential benchmark price of $344,700, a 6.0 per cent year-over-year jump.

“Inventory levels remain over 40 per cent below average province-wide and in our two largest centres — and we’re seeing the impact that can have on prices,” says Guérette.

She notes that almost all regions of the province saw year-over-year price growth in August. This was as high as 11 per cent in Moose Jaw and 9.0 per cent in Saskatoon — something she describes as “very significant.”

Regina

Regina reported 387 sales last month, 8.0 per cent above year-over-year and 29 per cent above long-term trends. Year-to-date sales consist of 2,765 units, 15 per cent higher than last year despite ongoing inventory issues — levels declined by 22 per cent year-over-year and remain over 40 per cent below long-term trends. The city’s benchmark price was $319,700 in August, 3.0 per cent above the year prior.

Saskatoon

Saskatoon reported 457 sales last month, 13 per cent below year-over-year and 14 per cent above long-term trends. Inventory remains over 48 per cent below long-term trends, and Saskatoon still reports the province’s tightest market conditions. Its benchmark price was $404,900 in August, over 8.0 per cent above the year prior.

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Saskatchewan’s housing market continued its strong performance in July, with the Saskatchewan Realtors’ Association (SRA) reporting 1,667 sales — a 7.0 per cent increase from the previous year and over 20 per cent above the long-term 10-year average. This marks the thirteenth consecutive month of above-average sales, contributing to year-to-date sales that are 10 per cent higher than July 2023 and 19 per cent above the 10-year average.

Although the year-over-year increase in new listings was modest, it had little impact on overall inventory, which remains 20 per cent lower than the previous year and over 40 per cent below long-term trends.

Supply constraints & strong demand placing upward pressure on prices

“Strong housing demand continues to support above-average monthly sales levels, preventing any significant inventory relief in many markets across the province,” says SRA CEO, Chris Guérette. “Limited supply choice, specifically in the more affordable segment of the market, is likely preventing even stronger sales activity in our province.”

In July, the province reported a residential benchmark price of $344,800, up from $343,300 in June and nearly 5.0 per cent higher than July 2023. Home prices increased across all property types, with year-over-year gains ranging from over 4.0 per cent for detached homes to 11 per cent for row/townhouse properties.

“With just over three months of inventory across the province — below two in some of our larger centres — it remains a challenging time for prospective buyers right now,” notes Guérette. She explains that supply constraints combined with strong demand are placing upward pressure on prices, as shown in record benchmark prices in some communities for the second consecutive month.

Province-wide sales above July’s 10-year average, despite declines in some regions

Despite slight sales declines in some regions, all provincial areas reported monthly sales figures above the 10-year average in July.

Year-to-date sales improved province-wide except in the Northern region, with the most significant growth in the Regina-Moose Mountain and Swift Current-Moose Jaw areas. The Saskatoon-Biggar region continues to report the tightest market conditions, with just 2.19 months of supply in July.

Price trends

Home prices rose across many economic regions in Saskatchewan in July, with the most significant gains in the Saskatoon-Biggar (7.0 per cent year-over-year) and Swift Current-Moose Jaw (5.0 per cent) areas. Other cities, including Regina, Estevan, Weyburn and Moose Jaw, also saw year-over-year price increases last month.

Regina

Regina reported 381 sales in July, a 10 per cent year-over-year increase and 26 per cent above the 10-year average.

Strong sales contributed to a 16 per cent gain in year-to-date sales, reaching some of the highest levels ever recorded at this point in the year. Despite a slight rise in new listings, inventory levels remain 43 per cent below the 10-year average. Regina’s benchmark price in July was $318,400, slightly up from $318,100 in June and 0.5 per cent above July 2023.

Saskatoon

Saskatoon saw 520 sales in July, a 5.0 per cent year-over-year increase and over 20 per cent above the 10-year average.

Limited supply continues to restrain even stronger sales in Saskatoon, with inventory levels 50 per cent below long-term trends. The city reported the tightest market conditions in the province, with just 1.60 months of supply. Saskatoon also recorded a new benchmark price high of $406,500 in July, up from $403,500 in June and over 7.0 per cent higher than July 2023.

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Saskatchewan saw 1,675 home sales in June, marking a one per cent decrease from last year but nearly 10 per cent above the 10-year average, the Saskatchewan Realtors’ Association (SRA) reports. Sales of properties priced above $400,000 improved, nearly balancing out the decline in homes priced below $300,000, as inventory shortages continue to limit stronger sales figures.

Above average sales for 12 consecutive months despite inventory issues

New listings in June dropped by 14 per cent year-over-year and were down 21 per cent compared to the 10-year average, contributing to a 19 per cent annual decrease in inventory and a more than 40 per cent decline from long-term trends. Despite these challenges, Saskatchewan has reported above-average sales for 12 consecutive months.

“While the recent Bank of Canada rate decision was welcome news, higher lending rates and rising home prices continue to spur demand for more affordable housing options,” notes SRA CEO, Chris Guérette. “This demand, when paired with falling supply in lower price ranges, limits options for prospective buyers and prevents even stronger monthly sales figures. There simply isn’t enough inventory to service this segment of our market right now.”

The residential benchmark price in Saskatchewan reached $343,300 in June, up from $340,400 in May and nearly 5% higher than June 2023. Notably, Humboldt ($272,500), Martensville ($398,800), Melfort ($250,100), Prince Albert ($251,700), Saskatoon ($403,500), and Warman ($463,500) reported record benchmark prices, with Saskatoon surpassing the $400,000 mark for the first time.

“Housing demand remains strong in Saskatchewan, despite ongoing supply challenges placing significant stress on the more affordable segment of our market, especially in our two largest centers,” Guérette noted. “While real estate is local and market conditions vary by region, it can be incredibly challenging for prospective buyers right now.”

Price trends

The province’s residential benchmark price last month was $343,300, an increase of $2,900 from May and almost five per cent from the same time last year.

Home prices rose across many regions in June, with the largest monthly gains in the Saskatoon-Biggar (seven per cent year-over-year) and Swift Current-Moose Jaw (5%) regions. Melfort reported the highest year-over-year price gain for the second consecutive month, with prices over 12 per cent higher than last year.

Saskatoon passed the $400,000 mark for the first time, while Regina, Estevan, Weyburn, Moose Jaw, Swift Current, Humboldt, Meadow Lake, North Battleford and Prince Albert also saw year-over-year price increases.

Regina

Regina had 380 sales in June, up 4 per cent from last year and 14 per cent above the 10-year average.

Inventory levels slightly improved month-over-month, resulting in 2.06 months of supply, up from 1.69 in May, though still down 30 per cent year-over-year and nearly 50 per cent below long-term trends. The benchmark price in Regina was $318,100 in June, down from $320,000 in May, and 0.5 per cent above June 2023.

Saskatoon

Saskatoon had 540 sales in June, matching last year’s figures and 15 per cent above the 10-year average.

Limited supply options are likely preventing stronger sales in the city, with inventory levels reaching their lowest point since June 2007. The city saw a 26 per cent year-over-year decrease in inventory, remaining over 53 per cent below the 10-year average. Saskatoon reported a record benchmark price of $403,500 in June, up from $397,200 in May and over 7 per cent higher than June 2023.

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Saskatchewan reported 1,841 sales in May, which was a six percent year-over-year and 24 per cent long-term average increase, according to the Saskatchewan Realtors Association (SRA). The province also saw new listings go up, though strong sales are keeping inventory at its lowest levels since 2008. This is most prevalent for properties priced below $300,000, a very competitive segment.

The residential benchmark price was $340,400 in May, up from $339,800 in April and over four per cent higher than May of last year. All property types saw price increases, the highest being in apartment and row/townhouse-style properties.

“Our housing market continues to report strong monthly sales figures despite persistent inventory challenges,” says SRA CEO Chris Guérette. “An eleventh consecutive month of above-average sales is quite impressive when you consider how challenging it can be for prospective buyers in some markets in our province right now.”

Regina

The City of Regina reported 440 sales in May, a five per cent year-over-year gain and 32 per cent above long-term trends. New listings were slightly up, though strong sales left inventory nearly 50 per cent below long-term trends, with 1.69 months of supply.

Regina’s benchmark price of $320,000 was up from 319,800 in April and two per cent higher than May 2023.

Saskatoon

Saskatoon reported 573 sales in May, a seven per cent year-over-year and 28 per cent long-term average increase. Inventory levels decreased by 21 per cent year-over-year and are almost 50 per cent below long-term trends. Saskatoon reports the province’s lowest inventory levels.

The city’s benchmark price of $397,200 was down from 398,600 in April and nearly six per cent higher than in May 2023.

“While the provincial months of supply fell below three months in May, conditions remain much tighter in our two largest centres – as Regina and Saskatoon are again reporting less than two months of supply,” says Guérette. “With further rate cuts on the horizon likely to spur additional demand — and no immediate inventory relief in sight — we expect tight conditions to continue to place upward pressure on prices across the province.”

Review May data by province, city, CMA/CA, region or census division.

Last month, Saskatchewan reported 1,642 sales, an increase of 32 per cent year-over-year, the Saskatchewan Realtors Association (SRA) reports. It was the fourth consecutive month of above-average sales, making year-to-date sales almost 17 per cent above 2023’s.

New listings up but total inventory 40% below 10-year trends

Though new listings were up slightly, total inventory was down 16 per cent year-over-year and 40 per cent below 10-year trends. This was especially the case for properties priced below $300,000.

“Economic growth, employment gains and record population numbers continue to support strong housing demand in Saskatchewan, resulting in a tenth consecutive month of above-average sales in April,” SRA CEO, Chris Guérette, notes.

“These factors are, without question, boosting housing demand — as evidenced through rising sales in the resale market and falling vacancy rates in the rental market.”

‘Approaching uncharted territory’ in Regina and Saskatoon

The province’s residential benchmark price reached $339,800 in April, up from $334,500 in March and almost five per cent higher than the year prior. Prices rose across all property types in April, by five per cent in detached and semi-detached property types and by 13 per cent in apartment-style properties.

“With just over three months of supply provincially, our market continues to experience significant supply challenges. However, the conditions are far tighter in Saskatoon and Regina, with both markets reporting under two months of supply in April,” says Guérette.

“We’re approaching uncharted territory in our two largest markets right now — it’s an incredibly challenging time for prospective buyers out there. If supply challenges persist, as expected, we will likely see further price gains in these markets.”

Regina

Regina reported 424 sales in April, a year-over-year gain of over 50 per cent and 52 per cent above long-term trends. Inventory conditions were tight, with a 30 per cent year-over-year decline and levels over 46 per cent below 10-year trends. The city’s benchmark price was $319,800, up from $313,100 in March and nearly three per cent from April 2023.

Saskatoon

Saskatoon reported 522 sales in April, a year-over-year gain of almost 29 per cent and 34 per cent above 10-year averages. Inventory levels decreased by 21 per cent year-over-year and are close to 50 per cent below 10-year trends. The city’s benchmark price was $398,600, up from $394,300 in March and nearly seven per cent from April 2023.

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Saskatchewan had 1,183 residential home sales last month, about 6 per cent above long-term averages and 2 per cent less than the year before, the Saskatchewan Realtors Association (SRA) reports. This was mostly within the Regina-Moose Mountain, Saskatoon-Biggar and Swift Current-Moose Jaw economic regions.

Some inventory levels becoming a concern

Despite above-average sales for the ninth consecutive month, new listings were down and inventory dropped by 15 per cent year-over-year, leaving supply around 40 per cent below long-term trends.

SRA’s CEO, Chris Guérette, points out this is nearing concerning levels in some major centres. “The busy spring market has arrived, and there simply isn’t enough supply in the more affordable segment of our market right now. Without question, it’s a difficult time for prospective homebuyers, specifically those searching for properties priced below $400,000,” she explains.

Strong price growth

Prices are rising amid the province’s tight market conditions, particularly for apartment and row/townhouse units. March’s benchmark price of $334,500 was up about $4,000 from the prior month and 4 per cent from the same time last year.

Most regions saw prices trend up, with the largest monthly gain being in the Swift Current-Moose Jaw region.

Regina

Regina reported 312 sales in March, a year-over-year gain of almost 7 per cent and 23 per cent above long-term averages. With the city’s new listings decline, two months of supply and above-average sales, upward pressure on prices continues. Its benchmark price last month was $313,100, up from $310,600 in February and nearly 2 per cent above March 2023. 

Saskatoon

Saskatoon reported 364 sales in March, a year-over-year decline of 8 per cent and 2 per cent above long-term averages. Inventory levels decreased by 21 per cent year-over-year and are almost 50 per cent below long-term trends. Prices are going up, with the city’s March benchmark at $394,300, up from $388,300 in February and over 5 per cent from March 2023.

“While it’s important to note that real estate is local and market conditions vary throughout the province – the inventory crunch in certain markets is significant right now,” Guérette notes. “It remains to be seen whether new listing relief is on the way, but all signs currently point to a challenging spring and summer market in Saskatchewan.”

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The Saskatchewan Realtors Association (SRA) reports the province had 999 sales in February, which was up by 17 per cent year-over-year and 24 per cent from 10-year averages. Growth was significant and higher than levels typically seen at this time of year.

Stagnant supply and quick-acting buyers

As for new listings, there was a small increase. But, the month marked eight in a row for above-average sales, meaning supply didn’t grow. Rather, the province saw a 17 per cent year-over-year drop in inventory, with levels about 38 per cent below 10-year averages.

“Despite inventory levels being at their lowest point reported in February since 2006, strong detached sales are again leading another month of above-average sales in our province,” notes SRA’s CEO, Chris Guérette.

“Buyers are acting swiftly when new supply comes onto the market, preventing any inventory growth — even more so in our larger centres. This strong demand is driving price gains in many markets across the province.”

Inventory in many markets shows “no signs of improving”

The province’s benchmark home price was $330,800 in February, up from $319,600 the previous month and almost 5 per cent higher than the previous year. Row/townhouse and apartment-style properties saw the largest year-over-year price gains, the detached sector experienced the highest month-over-month price jumps. 

“Though it is a small sample size right now, a month-over-month jump of over $10,000 in the provincial benchmark price is significant, with some markets reporting monthly increases in excess of $15,000,” says Guérette.

“We’re quickly approaching a busy spring market, and the inventory situation in many markets across our province is showing no signs of improving. We’ll continue to monitor closely how these supply challenges are impacting prices.”

Regional highlights

Many Saskatchewan regions report higher year-over-year sales in February, with the largest gains in the Swift Current-Moose Jaw and Regina-Moose Mountain regions.

The two biggest regions continued to experience inventory challenges — Regina-Moose Mountain and Saskatoon-Biggar reported under four months of supply. 

Last month, prices trended up across most of the province, with the largest monthly gain being in the Saskatoon-Biggar region, followed by the Regina-Moose Mountain region. Prices were nearly 10 per cent higher than the same time last year, and the Moose Jaw and Meadow Lake communities had significant year-over-year price growth.

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The Saskatchewan Realtors Association (SRA) reports that in January, the province witnessed a surge in real estate activity with 776 sales, marking a 24 per cent increase year-over-year and nearly 18 per cent above the 10-year average.

Driven primarily by robust detached home sales, this marks the seventh consecutive month of above-average sales.

“Prospective buyers can continue to expect tight market conditions when searching for more affordable properties”

Despite the strong sales, new listings declined, leading to a reduced inventory of 4,562 units, the lowest January level seen since 2010. Inventory levels plummeted by 18 per cent year-over-year, especially in the competitive segment below $400,000. However, properties priced above $600,000 saw some relief in inventory, though not enough to offset declines at lower price points.

SRA’s CEO, Chris Guérette, notes, “Higher lending rates have driven many purchasers to seek out more affordable products, resulting in further inventory declines in the more affordable segment of our market.”

Guérette continues to say that January failed to bring new listing relief to this area, and “Prospective buyers can continue to expect tight market conditions when searching for more affordable properties.”

Stable demand should be supported by favourable economic conditions and lower lending rates

Prices across all property types rose year-over-year, with row/townhouse-style properties experiencing the most significant gains. The provincial benchmark price reached $319,600 in January, up nearly 1 per cent from January 2023.

“While real estate is local and market conditions vary based on property type, price range, and location – our biggest concern is the lack of inventory across many markets in our province,” Guérette says. “Despite persistent inventory challenges, the predicted easing of lending rates and favourable economic conditions should continue to support stable demand for home ownership in Saskatchewan.”

Regional highlights

All regions saw increased sales activity, particularly Regina Moose-Mountain and Saskatoon-Biggar. However, inventory levels remained below last year’s levels, leading to supply levels. This is especially true in Saskatoon-Biggar, which has under four months of supply.

Price trends

Price trends varied across Saskatchewan, as several communities witnessed price gains and others experienced slight decreases. The range was wide, from Melfort seeing a 10 per cent year-over-year increase, to Swift Current’s decline of nearly 3 per cent.

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