Saskatchewan Housing Market Reaches New Record Prices Amid Supply Crunch

by Jo-Anne Larre

Saskatchewan’s housing market entered the spring season under increasing pressure in March, as persistently low inventory levels drove benchmark prices to a new all-time high. With 1,256 homes sold across the province, activity remained nearly 10% above long-term historical averages, even as sales moderated slightly from the near-record pace set in 2025. This sustained demand continues to define the province as a standout performer compared to broader national trends.

Record Prices Driven by Inventory Squeeze

While the market saw 1,808 new listings in March—a seasonal increase over February—the influx was slower than usual. New listings remained down compared to last year and nearly 25% below 10-year averages. This lack of fresh inventory has left the province with less than three months of supply, a level over 50% below what is typical for this time of year.

“This is where supply constraints start to have a real impact,” said Chris Guérette, CEO of the Saskatchewan REALTORS® Association. “We are seeing record prices not because demand is accelerating, but because there simply are not enough homes available. Saskatchewan has long been one of the most affordable places to buy a home in Canada, but that advantage is being tested in real time.”

Benchmark Prices Hit All-Time Highs

The provincial residential benchmark price reached a record $374,100 in March, up from $363,800 in February and more than 6% higher than March 2025. This marks the third consecutive month of price growth recorded across every community in the province.

“In other parts of the country, the story is about slowing markets and rising inventory,” Guérette added. “In Saskatchewan, it’s the opposite. Demand is still there, but supply hasn’t kept pace. That imbalance is what’s driving price growth and putting pressure on buyers.”

Regional Highlights & Price Trends

All six economic regions in the province reported sales activity above the 10-year average for March. The Northern, Prince Albert, Swift Current–Moose Jaw, and Yorkton–Melville regions all posted year-over-year sales gains.

Inventory remains critical across the board, with every region reporting levels at least 45% below long-term norms. This tight competition led to record-high benchmark prices in Martensville, Moose Jaw, North Battleford, Regina, Saskatoon, Swift Current, Warman, and Yorkton.

Melville and Estevan led the province with 15% year-over-year price growth.
Yorkton (13%), Swift Current (12%), and Weyburn (10%) also posted significant double-digit gains.

City Spotlights

Regina The provincial capital recorded 313 sales in March—up 5% year-over-year and 16% above the 10-year average. However, new listings declined by 4%, preventing any inventory relief. Regina currently sits at 1.7 months of supply, which is 60% below typical levels. Of the 522 active listings, 181 were already conditionally sold, leaving just 341 properties available heading into April. Regina’s benchmark price hit a new record of $343,700.

Saskatoon Saskatoon continues to report the tightest market conditions in the province with just 1.6 months of supply. The city saw 388 sales in March, standing 8% above the 10-year average. While new listings improved compared to March 2025, they remain well below long-term trends. With nearly 200 of the 638 available units conditionally sold, only 440 properties remained fully active at month-end. Saskatoon’s benchmark price reached an all-time high of $435,200, up 5% over last year.

Key Takeaway

As we move further into the spring market, Saskatchewan remains a seller’s stronghold defined by historic low supply and record-breaking prices. While a slower-than-usual transition out of winter has delayed the typical influx of spring listings, the underlying demand remains exceptionally resilient.

*Information provided by Saskatchewan REALTORS® Association