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Demand in Saskatchewan’s real estate market remains high, but the supply of listed homes remains a challenge.
According to a report released on Wednesday by the Saskatchewan Realtors Association, new listings dropped seven per cent in February on a year-over-year basis and sit 31 per cent below the 10-year average.
The association noted that many of the 3,519 listed units were conditionally sold by the end of the month, leaving just 2,792 properties available across the province.
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The supply issues are being felt most acutely in the Regina and Saskatoon regions, the association said, adding that five of the province’s six economic regions are seeing inventory levels more than 45 per cent below the 10-year average, highlighting the province-wide issue.
“Demand remains present across Saskatchewan,” association CEO Chris Guérette said in a statement.
“Inventory constraints continue to shape what buyers and sellers can actually purchase or sell. Even with a modest rise in supply, we are still operating well below historic norms.”
February saw 825 home sales across the province. While that represents a 16 per cent year-over-year decline, the association said those numbers are consistent with long-term trends.
Saskatchewan’s residential benchmark price rose from $359,500 in January to $363,800 in February, with the association noting that every community in the province reported year-over-year gains in benchmark prices, with the benchmark price in Estevan rising 13 per cent.
Melville saw an 11 per cent increase in the benchmark residential price in February, followed closely by Humboldt (10 per cent) and Moose Jaw (nine per cent).
In Regina, 198 homes were sold in February, a 21 per cent decline year-over-year, while new listings dropped by 14 per cent.
“Nearly 150 of the 494 available units at month’s end were conditionally sold and expected to leave the market, leaving only 347 active units in Saskatchewan’s capital city heading into March,” the realtors association said in a statement.
Regina’s residential benchmark jumped to $336,400 last month, up from $330,600 in January.
In Saskatoon, meanwhile, 271 homes were sold last month, representing a 16 per cent decline year-over-year.
“The monthly sales decline was met with declining new listings, which failed to provide meaningful inventory relief as the Bridge City continues to report Saskatchewan’s tightest market conditions,” the report noted.
“Of the 614 available units at the end of the month, 164 were conditionally sold and expected to exit the market, resulting in 450 active units heading into February.”
Saskatoon’s residential benchmark price sat at $421,600 in February, up from $417,800 in January and five per cent higher than February of 2025.
“As we move towards the spring market, the key factor to watch will be new listings,” Guérette explained.
“Some regions that have seen modest improvements in supply are also reporting stronger sales activity, which reinforces how sensitive our market can be to inventory levels. The opportunity for a healthier balance in 2026 depends largely on whether supply can respond to sustained demand.”
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