Saskatchewan Enters Spring With Tight Supply and Stable Demand – February 2026 Market Update

Saskatchewan Enters Spring With Tight Supply and Steady Demand

Saskatchewan’s housing market spent February navigating the same challenge that has defined it for the past two years: not enough listings. Sales activity settled back toward long-term norms after two near-record years, while prices continued climbing on the back of stubbornly low inventory.

The province recorded 825 home sales in February, down 16 percent year-over-year and about two percent below the 10-year average for the month. Taken together with January, total sales through the first two months of 2026 remain consistent with long-term historical trends — the pullback reflects a return to normal rather than a market in trouble.

Inventory Remains the Story

New listings fell again in February, down seven percent year-over-year and a striking 31 percent below the 10-year average. That shortage left inventory essentially unchanged from January. Of the 3,519 active units at month’s end, more than 700 were conditionally sold and expected to leave the market, leaving roughly 2,792 genuinely available properties across the province.

“Demand remains present across Saskatchewan,” noted Association CEO Chris Guérette, “but inventory constraints continue to shape what buyers and sellers can actually purchase or sell.”

Regional Highlights

• Five of Saskatchewan’s six economic regions posted year-over-year sales declines in February.
• Swift Current–Moose Jaw was the lone region to record an annual sales increase, and the only one operating above its 10-year average.
• Regina–Moose Mountain and Saskatoon–Biggar continue to face the tightest conditions in the province.
• Five of six regions are operating with inventory more than 45 percent below their 10-year averages.

Notably, the regions that saw modest improvement in months of supply also posted some of the strongest sales activity — a clear reminder of how directly available inventory drives transactions in this market.

Price Trends

The provincial residential benchmark price reached $363,800 in February, up from $359,500 in January and more than six percent higher than February 2025. For the second consecutive month, every Saskatchewan community reported year-over-year price gains, with three posting double-digit increases:

• Estevan — up 13 percent year-over-year
• Melville — up 11 percent
• Humboldt — up 10 percent
• Moose Jaw — up 9 percent

Regina Market Update

Regina reported 198 sales in February, down 21 percent year-over-year and two percent below its 10-year average. New listings declined 14 percent year-over-year, leaving inventory virtually unchanged from January. Of 494 available units at month’s end, nearly 150 were conditionally sold, leaving just 347 active units heading into March. Regina’s benchmark price climbed to $336,400, up from $330,600 in January and seven percent above February 2025.

Saskatoon Market Update

Closer to home, Saskatoon reported 271 sales in February, down 16 percent year-over-year and two percent below the 10-year average. Declining new listings offered no meaningful relief, and the Bridge City continues to report Saskatchewan’s tightest market conditions. Of the 614 available units at month’s end, 164 were conditionally sold, leaving roughly 450 active units heading into March.

Saskatoon’s residential benchmark price reached $421,600 in February, up from $417,800 in January and five percent above February 2025.

What This Means for Buyers and Sellers

If you are selling: With only about 450 genuinely active listings in Saskatoon, well-presented homes continue to attract serious attention. Prices are at record levels and competition from other listings is unusually thin. Pricing correctly from day one still matters, but the fundamentals remain firmly in your favour heading into spring.

If you are buying: Choice is limited and rising prices mean waiting has a real cost. Get fully pre-approved, be clear on your priorities, and be ready to act when something suitable appears. The upside is that softer sales volumes mean slightly less frantic competition than the past two springs — but the inventory shortage has not eased.

The key thing to watch heading into spring is new listings. As Guérette put it, the opportunity for a healthier balance in 2026 depends largely on whether supply can finally respond to sustained demand.

Let’s Talk About Your Move

Provincial numbers are useful context, but what matters is your neighbourhood and your price range. I am happy to walk you through what these trends actually mean for your home or your search.

📩 Contact me today for a personalized home evaluation or a current market snapshot for your Saskatoon neighbourhood.