Record house price increases eroding Saskatchewan’s affordability advantage

The Saskatchewan Realtors Association said two consecutive months of record housing price increases are eating away at the province’s status as an affordable market.

The association said strong sales in April and the persistent challenge of low inventory led to a new residential benchmark price of $347,300 last month, setting a new provincial record. That figure represents an increase of nearly five per cent over April of 2025, the association noted.

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Regina, North Battleford, Moose Jaw, Yorkton and Martensville all set price records for the second month in a row in April, the association added.

“Affordability is being eroded faster than many people realize,” Chris Guérette, the association’s CEO, said in a statement.

“We’ve long positioned Saskatchewan as one of the most affordable housing markets in the country, but that advantage depends on supply keeping pace.”

While new listings are improving on a month-over-month basis, Guérette said they remain “well below normal levels,” while new listings are being sold almost as quickly as they can be listed.

“That’s what continues to push prices to record levels,” she added.

The association said just over 3,000 residential properties are available across the province, when accounting for conditional sales, which left Saskatchewan with only 2.2 months of supply at the start of May.

“We are no longer seeing temporary pressure, this a structural supply challenge,” Guérette said.

“Even as we move further into the spring market, supply is not recovering in the way we would typically expect.”

Regina saw 347 home sales last month, which is 16 per cent ahead of the association’s 10-year average, while the city saw an eight per cent decline in new listings on a year-over-year basis. The residential benchmark price in the Queen City was pegged at $345,700 in April, up from $343,700 in March.

In Saskatoon, 450 homes were sold in April, which is 12 per cent higher than the long-term average. While there was “a welcome monthly increase in new listings,” inventory in Saskatoon is sitting 50 per cent lower than historical trends, the association said. Saskatoon’s residential benchmark price sat at $433,200 in April, a slight drop from the record $435,200 reported in March.

While other regions in Canada are seeing inventory levels ticking upwards with sales trending downward, Guérette said it’s a very different picture in Saskatchewan.

“In many markets across the country, inventory is building and sales are slowing down,” she said.

“In Saskatchewan, it’s the opposite. Demand is still there, but supply hasn’t caught up. Until it does, this pressure on prices will remain.”