Saskatchewan Housing Market Hits New Heights: Record Prices in April Despite Tight Inventory
Published: May 6, 2025
Saskatchewan’s housing market continued its dynamic performance in April 2025, with residential benchmark prices soaring to a new record high. While the number of home sales saw a year-over-year dip, the market’s underlying strength remains evident, driven by persistently tight inventory levels across the province.
In April, 1,470 home sales were reported in Saskatchewan. This marks a 10 percent decline compared to the exceptional figures of April 2024, yet it still stands as the second-strongest April on record for the province. Perhaps more tellingly, sales remained significantly above the 10-year average for the 22nd consecutive month – a clear indicator of sustained market robustness.
The supply side of the equation continues to be a major factor. New listings were also down, falling over seven percent year-over-year and sitting a significant 17 percent below the 10-year average. This ongoing shortage of new properties coming onto the market is hampering inventory recovery, even as sales volumes ease slightly from last year’s peaks.
“Our market continues to demonstrate remarkable resilience, with 22 straight months of sales outperforming long-term trends,” said Association CEO, Chris Guérette. “Although sales decreased in April compared to last year, this isn’t a demand issue — it’s an inventory issue. The current inventory situation directly impacts our market’s ability to sustain even higher sales.”
At the end of April, there were 4,371 active listings across Saskatchewan. While this represents a slight increase from the 3,851 listings in March, inventory was still down a substantial 18 percent year-over-year and remains nearly 50 percent below the 10-year average.
These tight market conditions are inevitably fueling price growth. Saskatchewan’s residential benchmark price climbed to a record-high $360,500 in April. This is an increase from $353,600 in March and represents a more than 6 percent rise compared to April 2024.
“We’re pleased to see our market weathering both economic uncertainty and ongoing supply challenges,” Guérette added. “It remains a challenging time for prospective buyers, but we’re cautiously optimistic that the slight rise in inventory this month is a step in the right direction.”
Regional Snapshots
Across the province, most economic regions reported year-over-year sales declines in April. However, the Yorkton-Melville region stood out, with sales eight percent higher than April 2024 and over 18 percent above long-term, 10-year trends.
The Regina-Moose Mountain and Saskatoon-Biggar regions continue to experience the tightest market conditions, both reporting less than two-and-a-half months of supply heading into May.
Price Trends Across the Province
Despite some moderation in sales, the prevailing supply challenges and competitive market conditions led to price gains in nearly all regions of Saskatchewan during April.
Several cities saw notable increases:
City of Humboldt: Benchmark price gains of nearly 12 percent.
Melfort: Up 11.3 percent.
Moose Jaw: Up 10.9 percent.
Prince Albert: Up 8.0 percent.
North Battleford: Up 6.9 percent.
Spotlight on Major Cities
City of Regina:
Regina reported 365 sales in April, a 13 percent decrease year-over-year, but still impressively over 26 percent above the 10-year average. New listings (494) were down four percent year-over-year. Of the 636 units available at month’s end, 179 were already conditionally sold, leaving just 457 active units. This tight supply pushed Regina’s benchmark price to a record $335,500, up from $326,300 in March and over five percent above April 2024.
City of Saskatoon:
Saskatoon saw 440 sales in April, down nearly 16 percent year-over-year but still 11 percent above the 10-year average. New listings declined by 12 percent year-over-year. Similar to Regina, a significant portion of available units (230 out of 681) were conditionally sold, leaving only 451 units with active status. Saskatoon continues to set new price records, with its benchmark price hitting $422,600 in April, up from the previous record of $415,900 in March and over seven percent above April 2024.
Looking Ahead
April 2025 paints a clear picture for Saskatchewan’s housing market: demand remains robust, but historically low inventory levels are the primary driver behind record-breaking prices. While this presents challenges for prospective buyers, the market’s sustained strength above long-term averages suggests continued dynamism in the months to come. The slight uptick in provincial inventory offers a glimmer of hope, but significant recovery is still needed to balance the market.
For more detailed information, you can refer to the official SRA communications.
