Saskatchewan is one of the few housing markets outpacing national trends, according to the latest data from the Saskatchewan Realtors Association (SRA).
March saw an increase in demand and dwindling supply; the province recorded 1,277 sales—an 8 per cent increase year-over-year, and 13 per cent above the 10-year average.
“Notwithstanding economic uncertainty and the ongoing threat of tariffs, Saskatchewan’s housing market remains remarkably resilient, once again posting above-average monthly sales,” says SRA CEO Chris Guerette. “Many markets across the country are going to tell a very different story this month, which highlights the strength of our market—even in the face of significant headwinds.”
Inventory hits historic lows
Despite a modest month-over-month rise in inventory—4,023 in March, up from 3,851 in February—levels were down 21 per cent year-over-year and 50 per cent below the 10-year average.
Saskatoon and Regina, the province’s two largest urban centres, are experiencing particularly acute shortages. Factoring in conditional sales, Saskatoon had just 0.98 months of supply heading into April. Regina trails closely with 1.29 months—figures well below the threshold of a balanced market.
“The spring market is here. We continue to see near-record demand, and there isn’t enough inventory to meet that demand right now,” said Guerette.
Prices continue to climb
Supply versus demand struggles continue to send home prices upward across Saskatchewan. The province reported a benchmark price of $353,600 in March—a $9,000 month-over-month increase and more than 6 per cent higher than March 2024
Saskatoon led the way with a record-setting benchmark price of $415,900, up more than $25,000 year-over-year. Regina also saw prices rise to $326,300nearing an all-time high—up from $317,700 in February.