Hungry buyers chasing low inventory created a perfect storm for record-breaking home prices in Saskatchewan in June.
The provincial benchmark price hit an all-time high of $370,700 last month, 8 per cent higher than June 2024.
“We’re seeing record price growth for a second consecutive month – as high as 16 per cent year-over-year in some markets – which speaks to the supply and demand challenges we’re experiencing right now,” said Saskatchewan Realtors Association CEO Chris Guérette.
“Despite these challenges, we’re encouraged by consecutive months of strong housing start figures and remain hopeful that supply relief is on the way.”
Inventory drought
Saskatchewan reported 1,768 home sales in June, marking it the third busiest June on record. Last month’s sales were up six per cent year-over-year, and nearly 15 per cent above 10-year averages.
A year-over-year gain in new listings contributed to a small inventory gain in June.
However, with nearly 1,100 of the 5,215 units available at the end of June already conditionally sold, only 4,144 active units remain at the beginning of July. Inventory levels remain 40 percent below the 10-year average.
“We’ve now seen monthly sales levels outpace the 10-year average for two whole years; that’s an incredible story that Saskatchewan is telling right now,” said Guérette. “Near-record sales in 2024 and the strong start we’ve seen in 2025 – all while navigating the worst inventory challenges we’ve seen since 2007 – it’s beyond impressive.”
