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Saskatchewan’s housing market is on track to finish 2025 as the second-busiest year on record, fuelled by steady demand and a persistent shortage of homes for sale, according to the Saskatchewan Realtors Association.
“This entire year, we had above average sales every single month, Infact we closed November as the 29th consecutive month of above average sales,” said Chris Guérette, CEO of the Saskatchewan Realtors Association, in an interview on The Evan Bray Show.
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She said that with only a few days left in 2025, the year appears to be headed for the No. 2 spot behind 2021, which she called the busiest year on record.
That level of activity continues to collide with a market-defining reality: there still weren’t enough listings to meet buyer appetite.
Listen to Chris Guérette on The Evan Bray Show:
Guérette said the province’s low inventory has become familiar after several years of tight conditions, creating challenges for people trying to buy their first home, move up to a larger place, or downsize.
“In November, we did see more modest relief there… but sales just took them all up, so we are still sitting at around two months of supply,” she said.
The pressure also showed up in prices. Guérette said affordability has tightened across Saskatchewan, even if the province remained less expensive than markets in Ontario and British Columbia.
“Everybody in this country has felt the affordability pinch. Prices are going up,” she said, adding that all 18 regions covered by the association’s residential statistics posted a year-over-year price increase.
Guérette said Saskatchewan is seeing larger increases than it was used to, though she described the province as not experiencing the same steep climb as other parts of Canada.
Competition is most intense in the entry-level portion of the market, she said, particularly in homes under $400,000 and up to $500,000, where bidding wars are still happening.
“We’re definitely seeing that.” Guérette said. “It does take time to shop for a home, and just keep your eye on the long game.”
On the supply side, Guérette said construction activity was a bright spot, pointing to building permits that are up compared with last year’s levels and stronger than in several other provinces.
But she said larger projects and practical apartment builds are taking longer to complete, citing major developments in downtown Sasktown that are years behind schedule.
She said labour shortages remain a key hurdle for builders, as residential and commercial projects compete for the same pool of tradespeople.
Looking ahead, Guérette said the path to easing both housing and rental pressure ran through increasing inventory and getting homes built faster. She also said she hoped 2026 would be a rebound in home ownership.
“I hope in 2026 we can start reversing that trend,” she said. “Home ownership is really the cornerstone of the middle class.”
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