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Saskatoon real estate market slows but still healthy, says realtors association

For sale sign on a home.

While the real estate market in Saskatoon has slowed down, prices of houses have gone up.

On a year-to-date basis, residential home prices have gone up by eight per cent, according to the Saskatchewan Realtors Association (SRA).

Read more: Healthy housing market in Sask. despite sales drop in August, says realtors association

However, sales have slowed down compared to 2020, which saw record-high numbers.

Chris Guerette, CEO of SRA, says the market was not typical last year because of the pandemic.

Read more: Feds pledge $7.6M to build affordable housing in Saskatoon

“So what we’re seeing here is a market that’s still very health in Saskatchewan, although we would keep a sharp eye on inventory levels.”

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Although sales and supply levels have fluctuated, the real estate market remains relatively neutral since the new-listings-to-sales ratio still remains over 60 per cent.

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