Saskatchewan’s residential housing market continues to tighten, with persistently low inventory levels driving a second consecutive month of record prices and placing increasing pressure on housing affordability across the province.
Saskatchewan recorded 1,404 residential home sales in April, down four per cent year-over-year but nine per cent above the 10-year average. While sales activity remains resilient, supply continues to be the defining factor shaping market conditions.
There were 2,109 new listings in April, increasing from March, but still more than 20 per cent below typical levels for this time of year. Inventory rose modestly; however, nearly 800 of the 3,847 units are already conditionally sold and expected to leave the market.
When accounting for those conditional sales, just over 3,000 properties remain available across the province, leaving Saskatchewan with only 2.2 months of effective supply heading into May.
“We are no longer seeing temporary pressure, this a structural supply challenge,” said Chris Guérette, CEO of the Saskatchewan REALTORS® Association. “Even as we move further into the spring market, supply is not recovering in the way we would typically expect.”
“New listings are improving month-over-month, but they remain well below normal levels. At the same time, inventory is being absorbed almost as quickly as it comes online. That’s what continues to push prices to record levels.”
This trend builds directly on March conditions, where supply levels were already more than 50 per cent below historical norms, highlighting that tight inventory is not easing but persisting.
Strong sales and ongoing inventory challenges led to another month of widespread price growth, with nearly every Saskatchewan community reporting year-over-year gains.
Notably, Martensville, Moose Jaw, North Battleford, Regina, Yorkton and Warman all recorded benchmark price records for the second consecutive month.
The provincial residential benchmark price reached a new record of $347,300 in April, nearly five per cent higher than April 2025.
“Affordability is being eroded faster than many people realize,” said Guérette. “We’ve long positioned Saskatchewan as one of the most affordable housing markets in the country, but that advantage depends on supply keeping pace.”
“When supply is down more than 50 per cent compared to historical norms, prices respond quickly. That’s exactly what we are seeing now. This isn’t just about a strong market, it’s about a market where options are limited, competition is increasing, and affordability is being eroded month after month.”
Guérette noted that while other regions across Canada are seeing rising inventory and slower sales, Saskatchewan continues to face a fundamentally different challenge.
“In many markets across the country, inventory is building and sales are slowing down. In Saskatchewan, it’s the opposite. Demand is still there, but supply hasn’t caught up. Until it does, this pressure on prices will remain.”
###
Regional Highlights
Saskatoon-Biggar and Swift Current-Moose Jaw were the only economic regions to post year-over-year sales gains in April. Those two regions, along with Regina-Moose Mountain and Yorkton-Melville, recorded sales above the 10-year average.
Inventory levels remain constrained across regions, with Regina-Moose Mountain (2.24 months of supply) and Saskatoon-Biggar (1.95 months of supply) continuing to report the tightest conditions in the province. Swift Current-Moose Jaw saw some inventory relief in April, though levels remain nearly 35 percent below the 10-year average – while all other regions sit more than 50 percent below historical norms.
Price Trends
All but one Saskatchewan community reported year-over-year price gains in May, three of which saw double-digit gains. Six communities (Martensville, Moose Jaw, North Battleford, Regina, Yorkton, and Warman) set price records for the second consecutive month.
The City of Melville reported the strongest monthly benchmark price growth for the second straight month, with prices up over 17 percent year-over-year. Other notable gains were seen in Yorkton (15 percent), Swift Current (12 percent), Humboldt (9 percent) and Estevan (9 percent).
City of Regina
Regina reported 347 sales in April, down four percent year-over-year but 16 percent above the 10-year average. While the Queen City struggles to keep pace with record 2025 sales levels, year-to-date sales remain strong and are well above the 10-year average.
An eight percent year-over-year decline in new listings – 12 percent below the 10-year average – compounded Regina's supply challenge. Paired with steady sales, that tightening leaves 1.6 months of supply heading into May, falling to 1.2 months once conditional sales are removed. Of 562 available units, nearly 160 were conditionally sold, leaving just 403 active properties at month’s end.
Regina recorded another record benchmark price of $345,700 in April, up from 343,700 in March and four percent higher than April 2025.
City of Saskatoon
Saskatoon recorded 450 sales in April, up two percent year-over-year and 12 percent above the 10-year average. Despite persistent inventory constraints, year-to-date sales remain eight percent above the 10-year average through the first four months of the year.
Despite a welcome monthly increase in new listings, Saskatoon continues to report the province's tightest market conditions. Inventory remains over 50 percent below historical trends, with only 1.6 months of supply at month’s end, 1.1 when factoring in conditional sales. Of the 714 available units, over 200 were conditionally sold, resulting in 503 active units heading into May.
After reaching a record $435,200 in March, Saskatoon's residential benchmark price dipped slightly to $433,200 in April – over three percent higher than April 2025.
.jpg?cc=1778096106431)
