Inventory Shrinks as Demand Surges Across Saskatoon and Beyond
If you’re following the Saskatchewan real estate market, the March numbers tell a clear story: demand continues to outpace supply, pushing prices up across much of the province.
📈 1,277 homes sold in March, marking an 8% increase compared to March 2024 and sitting 13% above the 10-year average. While sales are climbing, the number of new listings actually dropped 2% year-over-year—keeping inventory levels extremely low as we enter the busy spring market.
“Despite economic uncertainty and ongoing tariff concerns, Saskatchewan’s housing market remains strong and continues to outperform national trends,” said SRA CEO Chris Guérette.
At the end of March, 4,023 homes were listed across the province, a slight bump from February, but still 21% lower than last year and 50% below typical springtime inventory levels. For those looking at homes for sale in Saskatoon or Regina, the market is especially tight. When factoring in conditional sales:
Saskatoon is down to just 0.98 months of supply
Regina isn’t far behind with 1.29 months of supply
That kind of limited inventory is driving prices up.
💰 The provincial benchmark price hit $353,600 in March, up nearly $9,000 from February and more than 6% higher than March 2024.
“There’s high demand and not enough homes to go around right now,” Guérette added. “This spring market is going to be competitive—and having an experienced real estate professional to guide you is more important than ever.”
📍 Regional Market Highlights
Most areas across Saskatchewan saw stronger home sales this March, especially:
Yorkton-Melville: up 13%
Saskatoon-Biggar: up 12%
Prince Albert: up 10%
Inventory shortages are most severe in the Saskatoon-Biggar and Regina-Moose Mountain regions, both of which reported less than three months of supply and saw inventory drop 26% year-over-year.
💰 Home Price Trends Across the Province
Low supply and strong demand continue to boost home prices across Saskatchewan. Here’s where we saw the biggest year-over-year price increases:
Melfort: +22%
Prince Albert: +11.7%
North Battleford: +11.5%
Humboldt: +11.1%
Moose Jaw: +10.7%
Only Estevan and Weyburn did not report annual price growth.
🏡 City of Regina
Regina real estate saw 301 homes sold in March—down slightly from last year but still 15% above the long-term average.
New listings held steady at 418, though that’s still 20% lower than Regina’s 10-year March average. Of the 579 homes on the market at month’s end, 172 were already conditionally sold, leaving just 407 actively available.
🏷️ Benchmark price in Regina:
$326,300 – up from $317,700 in February and over 4% higher than a year ago.
🏡 City of Saskatoon
Sales in Saskatoon’s real estate market were up 11% from last year, with 403 homes sold in March, and activity sitting 13% above the city’s 10-year average.
But inventory remains tight:
New listings were down 1% year-over-year
Total active listings dropped 27% below the 10-year average
Of 602 homes listed, 195 were already conditionally sold
🏷️ Benchmark price in Saskatoon:
$415,900 – a record high, and over $25,000 more than in March 2024
Thinking of Buying or Selling in Saskatoon?
The Saskatoon housing market is moving fast. Whether you're buying, selling, or just trying to figure out your next step, understanding your options in a low-inventory, high-demand market is key.
📞 Contact Cindy Savino, REALTOR®, for expert, no-pressure guidance tailored to your goals.
📘 Explore more helpful tools:
👉 Buyer’s Resources
👉 Seller’s Resources
📊 Market Watch from the CRA for February 2025 – Last month’s report on pricing and inventory shifts
📈 How Saskatchewan’s 2025 Budget Impacts Homebuyers and Sellers – What the new provincial budget means for your real estate plans
🌿 5 Tips to Boost Your Home’s Curb Appeal & Sell Faster in Saskatoon – Get your home market-ready this spring
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