SASKATCHEWAN MARKET REMAINS RESILIENT AMID ECONOMIC UNCERTAINTY
March 6, 2025
Saskatchewan recorded 986 property sales in February, reflecting a one percent dip compared to the same month last year. However, despite this slight decline, sales remain well above the 10-year average and continue to align with 2024 levels through the first two months of the year.
Meanwhile, new listings dropped nearly 14 percent year-over-year and were 29 percent lower than the 10-year average. With real estate in Saskatchewan experiencing high demand in 2024 and a strong start to 2025, the housing market is facing increasing inventory shortages, impacting buyers and sellers across the province.
🏡 Looking to buy a home in Saskatchewan? Cindy Savino, REALTOR®, can help you navigate this competitive market with expert guidance. Contact Cindy today.
A Competitive Real Estate Market
Saskatchewan’s housing market continues to surpass expectations, with February marking the 20th consecutive month of above-average home sales, according to Association CEO, Chris Guérette. "Given the ongoing inventory shortages, these numbers are remarkable. The current market conditions are unlike anything we’ve seen before," Guérette stated.
At the end of February, only 3,851 properties were available for sale across the province. This represents a 21 percent year-over-year drop in housing inventory and puts supply levels at nearly 50 percent below what is typically seen in the first quarter of the year.
🏡 Thinking of selling your home? With demand outpacing supply, now is the perfect time to list your house for sale in Saskatchewan. Reach out to Cindy today.
Home Prices on the Rise
Home prices in Saskatchewan continue their upward trend, with the province’s residential benchmark price reaching $344,700 in February—an increase from $342,600 in January and nearly five percent higher than the same time last year in February 2024.
"While economic uncertainty persists across Canada, demand for real estate in Saskatchewan remains strong through the first two months of 2025," said Chris Guérette, Association CEO. "Our housing market has shown resilience despite ongoing supply constraints, and now with additional tariffs in play, we are facing even more challenges. However, we remain cautiously optimistic that Saskatchewan’s real estate sector will continue to hold steady."
Regional Highlights
The Regina-Moose Mountain and Saskatoon-Biggar regions saw monthly sales significantly surpass historical averages. These areas continue to experience some of the tightest housing market conditions in Saskatchewan, with inventory levels more than 50 percent below the 10-year average.
In Prince Albert, real estate prices climbed 10 percent year-over-year in February, reflecting continued demand in the region.
Meanwhile, the Swift Current-Moose Jaw market also saw growth, with home prices rising by eight percent compared to last year.
Looking for a home in Saskatoon or Regina? These areas are seeing record-low inventory. Contact Cindy Savino, REALTOR®, to find your perfect home before it’s gone!
Price Trends
Sustained demand and limited housing supply continue to fuel rising real estate prices in Saskatchewan, with nearly every region reporting year-over-year price growth in February.
Melfort real estate experienced the most significant price surge, increasing 21 percent compared to February 2024.
Prince Albert home prices saw a 10.7 percent increase year-over-year.
Humboldt real estate recorded a 10.3 percent price gain.
Moose Jaw home values rose by 8.3 percent over the past year.
Thinking about investing in real estate in Saskatchewan? Now is a great time to make a move! Talk to Cindy today.
City of Regina
In February, the City of Regina recorded 253 home sales, reflecting a seven percent decline compared to February 2024. However, despite this slight drop, sales levels remain over 30 percent higher than the 10-year average, with low inventory limiting further growth in transactions.
A total of 304 new listings were added in February, marking a five percent decrease from the previous year and sitting 19 percent below long-term averages.
By the end of the month, 514 properties remained available, with 124 conditionally sold and soon to exit the market.
Regina’s residential benchmark price climbed to $317,700 in February, rising from $316,300 in January and two percent higher than in February 2024.
If you’re looking to buy a home in Regina, market conditions remain competitive. Contact Cindy to start your home search today.
City of Saskatoon
In February, the City of Saskatoon recorded 323 home sales, marking a five percent increase from the same time last year and standing 25 percent above the 10-year average.
A total of 381 new listings entered the market, reflecting a 12 percent decline year-over-year and sitting nearly 30 percent below the 10-year average.
By the end of the month, only 581 properties remained available, with 156 conditionally sold and expected to leave the market soon.
Saskatoon’s benchmark home price rose to $405,400 in February, up from $403,400 in January and showing a six percent increase compared to February 2024.
With less than two months’ worth of inventory heading into March, Saskatoon’s housing market continues to face historically low supply levels.
Looking to buy a house in Saskatoon? The market is tight, but Cindy Savino can help you find your ideal home. Reach out now.
Final Thoughts
Saskatchewan’s real estate market continues to show strength and resilience, even amid economic uncertainty. Whether you’re searching for a house for sale in Saskatoon, exploring condos for sale in Regina, or seeking expert advice on real estate investments, Cindy Savino, REALTOR®, is ready to assist you.
Comments:
Post Your Comment: