Saskatchewan reported 986 sales across the province in February, down one percent year-over-year but well above long-term, 10-year averages. Despite the slight year-over-year decline, sales levels remain on pace with 2024 levels through the first two months of the year.
New listings decreased by nearly 14 percent year-over-year and were down 29 percent compared to the 10-year average. When paired with near-record demand in 2024 and a strong start to 2025, inventory challenges are worsening in many markets across the province.
“Saskatchewan’s housing market continues to exceed expectations, as February marks twenty consecutive months of above-average sales in our province,” noted Association CEO Chris Guérette. “These figures are even more impressive when you consider how dire the inventory situation has been over this stretch, what we’re seeing right now is unprecedented.”
With just 3,851 units available across the province at month’s end, inventory levels declined by 21 percent year-over-year and remain nearly 50 percent below levels typically seen in the year's first quarter.
Home prices continue to rise across Saskatchewan, as the province reported a residential benchmark price of $344,700 in February, up from $342,600 in January and nearly five percent higher than February 2024.
“While several external factors are causing economic uncertainty across our nation right now, Saskatchewan’s housing market continues to experience strong demand through the first two months of 2025,” said Guérette. “Our market has demonstrated resilience through persistent supply challenges, and now we’re adding tariffs to the mix. A lot is being thrown at us, but we’re cautiously optimistic that our market will continue to weather this storm.”
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Regional Highlights
The Regina-Moose Mountain and Saskatoon-Biggar regions reported monthly sales that well outpaced historical averages. Regina-Moose Mountain and Saskatoon-Biggar also continue to report the tightest market conditions in the province, with inventory levels over 50 percent below the 10-year average in both regions.
The Prince Albert region saw prices increase by 10 percent year-over-year in February, while the Swift Current-Moose Jaw region saw prices grow by eight percent.
Price Trends
Strong demand and ongoing supply challenges continue to drive price gains throughout the province—with all but two areas of the province reporting year-over-year price gains in February.
The City of Melfort saw the largest year-over-year price growth in February, with prices over 21 percent higher than in February 2024. Other notable gains include the cities of Prince Albert (10.7 percent), Humboldt (10.3), and Moose Jaw (8.3).
City of Regina
The City of Regina reported 253 sales in February, down seven percent compared to February 2024. Despite the slight year-over-year decrease, February sales levels were over 30 percent above the 10-year average, with limited inventory preventing even stronger sales figures.
February saw 304 new listings added to the market, down five percent from last February and 19 percent below long-term averages. At month’s end, there were 514 units in inventory, 124 of which were conditionally sold and set to exit the market. Above-average sales and declining new listings resulted in just over two months of supply – the lowest level reported in February in nearly two decades.
Regina’s benchmark price rose to $317,700 in February, up from $316,300 in January and two percent higher than February 2024.
City of Saskatoon
The City of Saskatoon reported 323 sales in February, up five percent year-over-year and over 25 percent above 10-year averages. While supply constraints continue to prevent further sales gains, year-to-date sales are over 22 percent higher than long-term, 10-year averages through the first two months of 2025
The Bridge City saw 381 new listings in February, down 12 percent year-over-year and nearly 30 percent below 10-year averages. At month’s end, there were only 581 available units, 156 of which were already conditionally sold. With less than two months of supply heading into March, Saskatchewan’s largest urban centre is reported near-record low inventory for this time of year.
Saskatoon reported a benchmark price of $405,400 in February, up from $403,400 in January and nearly six percent above February 2024.
