Saskatchewan’s housing market continues to exceed expectations and defy national trends, with 1,277 sales across the province in March – up over eight percent year-over-year and 13 percent above long-term, 10-year averages.
New listings decreased by 2 percent year-over-year and remain nearly 30 percent below long-term trends. When paired with the twenty-first consecutive month of above-average sales, inventory levels continue to worsen across many areas of the province.
“Notwithstanding economic uncertainty and the ongoing threat of tariffs, Saskatchewan’s housing market remains remarkably resilient, once again posting above-average monthly sales,” said Association CEO Chris Guérette. “Many markets across the country are going to tell a very different story this month, which highlights the strength of our market – even in the face of significant headwinds.”
At month's end, 4,023 units were available across the province, up from 3,851 last month. Despite the slight month-over-month increase, inventory levels dipped by 21 percent year-over-year, remaining nearly 50 percent below the 10-year average.
Furthermore, Saskatchewan’s two largest markets continue to grapple with severe inventory shortages. When accounting for conditional sales set to close and leave the market, Saskatoon is entering April with just 0.98 months of supply, while Regina trails closely behind at 1.29 months.
Strong sales and persistent supply constraints continue to boost home prices across the province. Saskatchewan reported a residential benchmark price of $353,600 in March – up from $344,700 in February and over six percent higher than March 2024.
“The spring market is here. We continue to see near-record demand, and there isn’t enough inventory to meet that demand right now,” said Guérette. “Our message to those trying to navigate this market is simple: it’s going to be very challenging, patience is essential, and the expertise of a real estate professional is more crucial than ever.”
City of Regina
The City of Regina reported 301 sales in March, down three percent year-over-year but still outpacing the 10-year average by 15 percent.
There were 418 new listings in March, consistent with March 2024 but down 20 percent compared to the 10-year average of 524. Notably, 172 of the 579 units available at month’s end were already conditionally sold, leaving just 407 reported as active.
Stable demand and ongoing inventory challenges continue to push prices higher in the Queen City. In March, the residential benchmark price rose to a near-all-time high of $326,300, up from $317,700 in February and over four percent higher than March 2024.
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