Saskatchewan price surge threatens ‘affordability advantage,’ said SRA

Saskatchewan prices shot up five per cent year-over-year in April, a symptom of a supply shortage that’s getting more entrenched by the month, according to the Saskatchewan Realtors Association. 

The provincial residential benchmark price reached a new record of $347,300 in April, as the province recorded 1,404 sales.

Activity is strong, with sales up nine per cent over the 10-year average, but constrained by low levels of supply. 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. 

Accounting for 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, SRA CEO. “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.”

Homes in desirable price points and neighbourhoods continue to see fierce bidding wars and offers tens of thousands of dollars over asking.

‘Eroded’ affordability 

Several Saskatchewan communities, including Martensville, Moose Jaw, North Battleford, Regina, Yorkton and Warman, recorded benchmark price records for the second consecutive month in April.

Guérette said Saskatchewan’s affordability advantage is increasingly being challenged by persistent supply shortages.

“Affordability is being eroded faster than many people realize,” she said, noting that prices are responding quickly as inventory levels remain more than 50 per cent below historical norms in some markets.

She added that Saskatchewan continues to differ from many other Canadian markets where inventory is rising and sales are slowing.

“In Saskatchewan, it’s the opposite,” Guérette said. “Demand is still there, but supply hasn’t caught up.”

In Regina, sales totaled 347 in April, down four per cent year-over-year but still 16 per cent above the 10-year average. The city had just 1.2 months of effective supply at month’s end after conditional sales were removed.

Regina’s benchmark price reached a new record of $345,700, up four per cent from April 2025.

Saskatoon recorded 450 sales in April, up two per cent year-over-year and 12 per cent above the 10-year average. Inventory remained more than 50 per cent below historical levels, leaving the city with just 1.1 months of effective supply.

The city’s benchmark price was $433,200 in April, slightly below March’s record high but still more than three per cent higher than a year earlier.

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