Record Prices and Resilient Demand Define Saskatchewan’s May 2025 Housing Market

Saskatchewan’s real estate market remains remarkably strong in May 2025, even as sales figures slightly declined from the previous year’s near-record levels. The province saw 1,750 homes change hands in May—down five percent from May 2024—but still more than 16 percent above the 10-year average for the month.

Year-to-date, sales are down nearly three percent compared to the first five months of 2024, but they continue to outperform long-term historical trends.

Inventory Still Tight Despite Modest Increases

Inventory saw a slight boost in May, with 5,008 homes listed across the province by month’s end. However, over 900 of those listings were conditionally sold, keeping active inventory more than 40 percent below the 10-year average.

“Our province’s housing market continues to exceed expectations,” said Saskatchewan REALTORS® Association CEO Chris Guérette. “The key takeaway isn’t the slight year-over-year sales dip, but our market’s continued resilience amid economic uncertainty and persistent supply challenges.”

Benchmark Prices Reach New Highs Across Saskatchewan

May’s tight market conditions pushed Saskatchewan’s benchmark home price to a record $369,500, up from $360,500 in April and nearly nine percent higher than May 2024.

Price growth wasn’t limited to the provincial average. Eleven communities—including Saskatoon, Regina, Prince Albert, and Moose Jaw—reported new record benchmark prices in May. In some cities, prices increased by as much as 18 percent year-over-year.

“Record benchmark prices across nearly a dozen communities in May, with price gains as high as 18 percent year-over-year, is quite significant,” said Guérette.

Saskatoon Market Highlights – May 2025

Saskatoon saw 544 sales in May, a decline of nearly five percent compared to last year. Still, this figure remains almost 20 percent above the 10-year average, reflecting strong ongoing demand.

New listings were up 13 percent year-over-year, aligning with seasonal expectations. However, market conditions remain tight, with 555 active listings and only 1.6 months of supply heading into June.

The benchmark price in Saskatoon rose to a record $433,700, up from $422,600 in April and more than nine percent higher than a year ago. This sharp rise underscores the impact of low supply and continued buyer interest in the city.

Other Regional Trends

• Yorkton-Melville and Swift Current-Moose Jaw were the only regions to post year-over-year sales gains.
• The Saskatoon-Biggar and Regina-Moose Mountain regions continue to experience the tightest conditions in the province, each with less than 2.5 months of supply.
• Humboldt led the province in price growth for the second straight month, with prices up 18 percent year-over-year.

What This Means for Buyers and Sellers

If you’re considering buying in Saskatoon, be prepared for limited inventory and rising prices. Acting quickly and working with a knowledgeable local REALTOR® can make a significant difference.

For sellers, market conditions continue to be favourable. With record-high benchmark prices and strong buyer demand, now could be an excellent time to list your property.

*Information provided by SRA