April 2025 Saskatoon Market Update: Prices Reach New Highs Amid Inventory Shortages

April 2025 Market Update: Saskatoon Prices Hit New Records Despite Fewer Sales

Saskatchewan’s real estate market continued to show resilience in April 2025, even as overall sales dipped compared to the record-setting pace of April 2024. The province recorded 1,470 home sales last month—a 10% decline year-over-year—making it the second-strongest April on record.

While sales were down slightly, they remained well above the 10-year average for the 22nd month in a row, a strong indicator of continued buyer demand across the province.

Tight Inventory Continues to Shape the Market

New listings fell more than 7% compared to last year and sit 17% below the 10-year average. Inventory challenges continue to limit options for buyers and are restricting the market’s ability to support even higher sales.

“Although sales decreased in April compared to last year, this isn’t a demand issue — it’s an inventory issue,” said Chris Guérette, CEO of the Saskatchewan REALTORS® Association. “The current inventory situation directly impacts our market’s ability to sustain even higher sales.”

At the end of April, active listings in Saskatchewan totaled 4,371—an increase from March but still 18% lower than the same time last year and nearly 50% below long-term norms.

Saskatoon Snapshot: Record Prices and Limited Listings

Saskatoon saw 440 home sales in April—down nearly 16% from April 2024, yet still 11% above the 10-year average for this time of year.

New listings in the city were down 12% year-over-year and 18% below historical averages. With just 681 properties available at the end of the month—230 of which were already conditionally sold—active inventory remains extremely tight.

These supply constraints continue to push prices upward. Saskatoon’s benchmark home price hit a new record of $422,600, up from $415,900 in March and more than 7% higher than April 2024.

Market Highlights Across the Province

• Yorkton-Melville was the only region to post a year-over-year sales increase—up 8% from April 2024 and 18% above long-term averages.
• Humboldt led the way in price growth, with benchmark prices up nearly 12%.
• Other notable gains were seen in Melfort (11.3%), Moose Jaw (10.9%), Prince Albert (8.0%), and North Battleford (6.9%).
• Both the Regina-Moose Mountain and Saskatoon-Biggar regions continue to report the lowest months of inventory in the province, making them the tightest markets heading into May.

Looking Ahead

Despite economic uncertainty and persistent supply challenges, Saskatchewan’s real estate market continues to outperform long-term trends. The benchmark residential price across the province reached a record $360,500 in April, a 6% increase from the same time last year.

“It remains a challenging time for prospective buyers, but we’re cautiously optimistic that the slight rise in inventory this month is a step in the right direction,” added Guérette.

Final Thoughts for Saskatoon Buyers & Sellers
For buyers, conditions remain competitive—especially in high-demand markets like Saskatoon. Working with a knowledgeable local agent and getting pre-approved are more important than ever.

For sellers, this market presents an excellent opportunity. With record-high prices and limited competition, listing your home now could result in a faster sale and a higher return.

Have questions about buying or selling in Saskatoon? Reach out today—I’d be happy to walk you through what these numbers mean for your next move.

*Information provided by SRA