Saskatchewan’s housing market appears to be off to a strong start in 2025, according to Saskatchewan Realtors® Association’s latest statistics.
Sales
An increase in sales in January of 1% year-over-year and over 17% above 10-year averages was seen. This led to the nineteenth consecutive month of above-average sales in the province, a streak of robust sales that dates back to June 2023.
“While market activity in the coming months will provide a clearer picture of trends for 2025, monthly sales figures continue to outperform expectations,” said Association CEO, Chris Guérette.
Listings
New listings declined by 2% year-over-year and were down nearly 28% compared to long-term averages. Declining new listings continue to be met with strong demand, which failed to provide any supply relief to begin the new year.
Inventory levels were down 19% year-over-year and currently sit over 44% below the 10-year average. Additionally, of the 3,925 available units reported at month’s end, over 700 had already accepted a conditional offer and are set to leave the market once those transactions close.
Prices
Tighter market conditions continue to place upward pressure on home prices across the province, as Saskatchewan reported a residential benchmark of $342,600 in January – up from $337,800 in December and nearly 7% higher than January 2024.
Source: SRA
Regional Highlights
The Regina-Moose Mountain, Saskatoon-Biggar, and Swift Current-Moose Jaw regions all reported monthly sales that well outpaced historical averages—leading the province to a nineteenth consecutive month of above-average sales. While market activity in the coming months will provide a clearer picture of trends for 2025, there continues to be significant demand for housing despite limited inventory in many markets across the province.
The Regina-Moose Mountain region saw the largest year-over-year inventory decline in January, with a 27% drop, while the Saskatoon-Biggar region is again reporting the tightest market conditions across the province.
Price Trends
Significant demand and persistent inventory challenges continue to drive price gains throughout the province—with all areas of the province reporting year-over-year price gains in January.
The City of Moose Jaw led the way in year-over-year price growth for the sixth consecutive month, with prices over 15% higher than January 2024. Other notable gains include the cities of Melfort (12.3%), Humboldt (11.5%) and Prince Albert (8.3%).
Regina
Following a record-breaking sales year in 2024, the City of Regina reported 172 sales in January, down 4% year-over-year but 17% above long-term, 10-year trends.
There were 279 new listings in January, down 10% year-over-year and nearly 22% below historical averages. As a result, inventory levels remain nearly 50% below the 10-year average. At month’s end, just 537 units were available on the market, down nearly 225 units from this time last year.
Regina’s residential benchmark price was $316,300 in January, up from $313,400 in December and over 5% higher than January 2024.
Saskatoon
The City of Saskatoon reported 253 home sales in January, a year-over-year increase of over 3% and the second-strongest January on record.
Despite a surge in new listings, Saskatoon’s months of supply remain under 2.5 months, with inventory levels down 15% year-over-year and over 50% below long-term trends. Less than 450 of the 618 available units at month’s end were not already conditionally sold.
Saskatoon reported a benchmark price of $403,400 in January, up from $395,300 in December and over 7% higher than January 2024.
