The Saskatchewan real estate market continues to show resilience despite ongoing inventory shortages and broader economic uncertainty. February 2025 saw a strong performance in sales, pricing, and demand across the province, reinforcing Saskatchewan’s position as a stable and desirable market.
Sales and Market Activity
Saskatchewan recorded 986 residential sales in February, marking a 1% year-over-year decline. However, sales remained well above long-term averages, demonstrating continued buyer demand. This marks 20 consecutive months of above-average sales activity.
New listings declined significantly, dropping 14% compared to February 2024. With only 1,279 new properties hitting the market, supply constraints continue to challenge buyers. Inventory levels also shrank 21% year-over-year, sitting at 3,851 available units—nearly 50% lower than historical first-quarter levels.
Rising Home Prices
Despite fewer sales and tightening inventory, home prices in Saskatchewan continue to rise. The province’s benchmark residential price climbed to $344,700, reflecting a 4.6% year-over-year increase. This upward trend in pricing is a direct result of persistent demand outpacing supply.
Several regions experienced notable price growth:
- Melfort saw the highest increase at 21.4% year-over-year.
- Prince Albert prices jumped 10.7%.
- Humboldt followed with a 10.3% increase.
- Moose Jaw recorded an 8.3% rise.
Tight Market Conditions
Saskatchewan’s months of supply metric—a key indicator of market balance—stood at 3.91 months, representing a 20.5% decrease year-over-year. Historically, a balanced market has between four to six months of supply, meaning current conditions strongly favor sellers.
The Regina-Moose Mountain and Saskatoon-Biggar regions remain the tightest markets, with inventory levels more than 50% below the 10-year average.
Looking Ahead
Despite broader economic uncertainties, including rising tariffs and fluctuating national market conditions, Saskatchewan’s housing sector remains steady. The combination of high demand, limited inventory, and increasing prices suggests that buyers will continue to face competition, while sellers remain in a favorable position.
Whether you’re looking to buy, sell, or invest, staying informed about Saskatchewan’s evolving market conditions is essential. If you’re considering making a move, now is the time to strategize and take advantage of these shifting market dynamics.
