BACK-TO-BACK MONTHS OF RECORD PRICE INCREASES CONTINUE TO ERODE SASKATCHEWAN’S AFFORDABILITY ADVANTAGE
Saskatchewan’s residential housing market continues to tighten, with persistently low inventory levels driving a second consecutive month of record prices and placing increasing pressure on housing affordability across the province.
Saskatchewan recorded 1,404 residential home sales in April, down four per cent year-over-year but nine per cent above the 10-year average. While sales activity remains resilient, supply continues to be the defining factor shaping market conditions.
There were 2,109 new listings in April, increasing from March, but still more than 20 per cent below typical levels for this time of year. Inventory rose modestly; however, nearly 800 of the 3,847 units are already conditionally sold and expected to leave the market.
When accounting for those conditional sales, just over 3,000 properties remain available across the province, leaving Saskatchewan with only 2.2 months of effective supply heading into May.
“We are no longer seeing temporary pressure, this a structural supply challenge,” said Chris Guérette, CEO of the Saskatchewan REALTORS® Association. “Even as we move further into the spring market, supply is not recovering in the way we would typically expect.”
“New listings are improving month-over-month, but they remain well below normal levels. At the same time, inventory is being absorbed almost as quickly as it comes online. That’s what continues to push prices to record levels.”
This trend builds directly on March conditions, where supply levels were already more than 50 per cent below historical norms, highlighting that tight inventory is not easing but persisting.
Strong sales and ongoing inventory challenges led to another month of widespread price growth, with nearly every Saskatchewan community reporting year-over-year gains.
Notably, Martensville, Moose Jaw, North Battleford, Regina, Yorkton and Warman all recorded benchmark price records for the second consecutive month.
The provincial residential benchmark price reached a new record of $347,300 in April, nearly five per cent higher than April 2025.
“Affordability is being eroded faster than many people realize,” said Guérette. “We’ve long positioned Saskatchewan as one of the most affordable housing markets in the country, but that advantage depends on supply keeping pace.”
“When supply is down more than 50 per cent compared to historical norms, prices respond quickly. That’s exactly what we are seeing now. This isn’t just about a strong market, it’s about a market where options are limited, competition is increasing, and affordability is being eroded month after month.”
Guérette noted that while other regions across Canada are seeing rising inventory and slower sales, Saskatchewan continues to face a fundamentally different challenge.
“In many markets across the country, inventory is building and sales are slowing down. In Saskatchewan, it’s the opposite. Demand is still there, but supply hasn’t caught up. Until it does, this pressure on prices will remain.”
City of Regina
Regina reported 347 sales in April, down four percent year-over-year but 16 percent above the 10-year average. While the Queen City struggles to keep pace with record 2025 sales levels, year-to-date sales remain strong and are well above the 10-year average.
An eight percent year-over-year decline in new listings – 12 percent below the 10-year average – compounded Regina's supply challenge. Paired with steady sales, that tightening leaves 1.6 months of supply heading into May, falling to 1.2 months once conditional sales are removed. Of 562 available units, nearly 160 were conditionally sold, leaving just 403 active properties at month’s end.
Regina recorded another record benchmark price of $345,700 in April, up from 343,700 in March and four percent higher than April 2025.
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