Benchmark home prices in Saskatchewan hit a record high of $374,100 last month, reflecting a price increase of more than six per cent compared to 2025, the province’s Realtor’s group reported Monday in its monthly update.
A major cause of the price spike is a decrease of almost 25 per cent in the number of listings typically available in the late-winter early-summer seasons compared to long-term historical averages.
“We are seeing record prices not because demand is accelerating, but because there simply are not enough homes available,” Chris Guérette, CEO of the Saskatchewan Realtor’s Association, said in a press release accompanying the monthly update.
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In March, 1,808 new residential listings were listed and buyers purchased 1,256 properties, according to the association.
The report said Saskatoon had “the tightest conditions in the province” with an estimated 1.6-month supply of active listings, assuming all the conditionally sold homes see the keys change hands.
“New listings improved compared to March 2025 but remain well below 10-year trends,” the report added.
Regina’s conditions aren’t quite as stretched, with the association estimating 1.7 months inventory of listings.
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Benchmark home prices in both cities rose, with Saskatoon seeing an average sale price of $435,200 and Regina reporting $343,700.
“Demand is still there, but supply hasn’t kept pace. That imbalance is what’s driving price growth and putting pressure on buyers, particularly those trying to enter the market for the first time,” said Guérette, who believes this seller’s market is unique compared to the rest of Canada.
Looking at Saskatchewan’s neighbours, Alberta also experienced year-over-year price growth, but gains were limited to 1.6 per cent, according to the province’s real estate association. Meanwhile, the Winnipeg Regional Real Estate Board reported “statistically even” prices when comparing February of this year to last.
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