Continued Supply Challenges Threaten Saskatchewan’s Growth Potential – May 2026 Market Update

Supply Challenges Threaten Saskatchewan’s Growth Potential

Saskatchewan’s housing market added more listings in May than in any other month so far this year — and it still was not enough. Demand continues to absorb new supply almost as fast as it arrives, pushing benchmark prices to a third consecutive record.

The province recorded 1,571 residential sales in May, down 10 percent year-over-year. There were 2,600 new listings added, the highest monthly total of 2026 so far, and inventory improved to 4,399 units at month’s end. However, more than 1,000 of those were already conditionally sold.

Accounting for conditional sales, that leaves 3,397 genuinely available units — 2.2 months of supply heading into June. Better than last month’s 3,087, but still nearly 50 percent below the 10-year average.

A Growth Problem, Not Just a Housing Problem

“Our economy is growing, our population is growing, and people continue to choose Saskatchewan as a place to live and build their future,” said Chris Guérette, CEO of the Saskatchewan REALTORS® Association. “The challenge is that housing supply is not growing at the same pace.”

“The conversation today isn’t simply about home prices,” she added. “When supply remains this far below historical levels month after month, the impacts extend well beyond the housing market. Housing availability affects labour mobility, economic growth and our province’s ability to attract and retain people.”

Benchmark Prices Set a Third Straight Record

The provincial residential benchmark price reached a new record of $381,100 in May, surpassing April’s $374,300. Seven communities established new benchmark price records, and all but one reported year-over-year price growth — despite the improvement in inventory.

Regional Highlights

• All six economic regions reported year-over-year sales declines in May.
• Regina–Moose Mountain, Saskatoon–Biggar, and Swift Current–Moose Jaw all still saw sales exceed their 10-year averages.
• Inventory improved slightly across nearly all regions, but every region except the North reported supply 45 to 56 percent below typical levels.
• Saskatoon–Biggar (1.96 months) and Regina–Moose Mountain (2.49 months) remain the tightest in the province.

Price Trends

Seven communities — Humboldt, Martensville, Moose Jaw, Regina, Saskatoon, Warman, and Weyburn — set new benchmark price records in May. Leading gains included:

• Melville — up 11 percent year-over-year, strongest in the province for a third straight month
• Yorkton — up 10 percent
• Estevan — up 7 percent
• Humboldt — up 6 percent

Regina Market Update

Regina reported 350 sales in May, down 17 percent year-over-year but still outperforming its 10-year average, with year-to-date sales sitting well above long-term norms. Despite an 11 percent year-over-year drop in new listings, inventory improved slightly to nearly two months of supply — 1.4 months accounting for conditional sales. Of 687 available units, 187 were conditionally sold, leaving 500 active properties. Regina set another record benchmark price of $350,200, up from April’s $345,700 and nearly four percent above May 2025.

Saskatoon Market Update

Saskatoon recorded 519 sales in May, down four percent year-over-year but more than 10 percent above the 10-year average. The Bridge City continues to report the tightest market conditions in Saskatchewan — a constraint that is actively holding sales back rather than reflecting weak demand.

Inventory was unchanged in May at only 1.6 months of supply, dropping to 1.1 months once conditional sales are removed. Of 837 available units, more than 250 were conditionally sold, leaving just 560 active units heading into June.

Saskatoon’s residential benchmark price hit a record $444,400 in May, up from $433,200 in April and comfortably above the previous high of $435,200.

What This Means for Buyers and Sellers

If you are selling: Saskatoon set a new record price in May, and with only 560 active listings citywide, your competition is minimal. Sales running 10 percent above the long-term average confirms buyers are active and motivated. If you have been considering a move, the market is telling you this is a strong window.

If you are buying: At 1.1 months of effective supply, this remains a demanding market. That said, May brought the highest number of new listings all year — so more is coming to market than earlier in the spring. Stay pre-approved, stay alert to new listings, and be ready to move decisively when the right property appears.

Let’s Talk About Your Move

Record prices make for good headlines, but what matters is what is happening in your neighbourhood and price bracket. I am happy to translate these numbers into something useful for your situation.

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