Saskatchewan’s Housing Market Starts 2025 Strong: What It Means for Saskatoon Buyers and Sellers

Saskatchewan’s real estate market is off to a solid start in 2025, with 782 sales across the province in January—an increase of one percent compared to last year and over 17 percent higher than the 10-year average. This marks the nineteenth consecutive month of above-average sales in the province, a trend that began in June 2023.

However, new listings have declined by two percent year-over-year and are down nearly 28 percent compared to historical averages. With demand remaining strong and fewer properties hitting the market, inventory remains tight, leading to continued upward pressure on home prices.

A Market with Limited Inventory

Inventory levels in Saskatchewan were down 19 percent year-over-year in January and are currently sitting over 44 percent below the 10-year average. There are over 600 fewer available units compared to this time last year. In addition, of the 3,925 properties reported at the end of January, over 700 already had conditional offers in place.

“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. “We’re picking up right where we left off after a near-record 2024.”

What Does This Mean for Saskatoon Home Prices?

Tighter market conditions are driving up home prices across the province. Saskatchewan’s residential benchmark price rose to $342,600 in January, up from $337,800 in December and nearly seven percent higher than January 2024.

Guérette cautions that while 2025 was expected to be another strong year for Saskatchewan real estate, external factors like potential tariffs, economic uncertainty, and Bank of Canada policy decisions could influence the market moving forward.

Saskatoon’s Real Estate Market: January 2025 Highlights

Saskatoon reported 253 home sales in January, a 3 percent year-over-year increase and the second-strongest January on record.

Despite an increase in new listings, Saskatoon remains a seller’s market, with months of supply sitting at under 2.5 months. Inventory levels are down 15 percent year-over-year and more than 50 percent below long-term trends. At the end of January, 618 units were available, but fewer than 450 were not already conditionally sold—highlighting the continued demand for housing in the city.

Saskatoon’s benchmark home price rose to $403,400 in January, up from $395,300 in December and over 7 percent higher than January 2024.

Regional Market Trends

Several regions in Saskatchewan experienced notable price gains in January, reflecting the strong demand and inventory challenges.

• Moose Jaw led the province in year-over-year price growth for the sixth consecutive month, with an increase of over 15 percent.
• Melfort saw a 12.3 percent increase.
• Humboldt prices rose by 11.5 percent.
• Prince Albert experienced an 8.3 percent jump.

The Saskatoon-Biggar region continues to report the tightest market conditions in the province, while Regina-Moose Mountain saw the largest inventory decline, down 27 percent year-over-year.

What This Means for Saskatoon Buyers and Sellers

With inventory remaining at historic lows and demand still high, Saskatoon is firmly in a seller’s market. If you’re thinking about selling your home, now is a great time to list while competition remains fierce among buyers. On the flip side, buyers should be prepared to act quickly and competitively when they find a home that fits their needs.

Navigating a fast-moving real estate market requires expert guidance. Whether you’re looking to buy or sell in Saskatoon, I’m here to help you make informed decisions and find success in this dynamic market.

Contact me today to discuss your real estate goals in Saskatoon!

*information provided by SRA