Spring momentum builds as tight supply continues to shape the market
As Saskatchewan inches toward the spring real estate season, one theme continues to dominate the conversation: strong demand meeting very limited supply. February’s numbers reinforce what we’ve been seeing for months—a market that’s active, competitive, and still heavily influenced by inventory shortages.
🌡️ Sales Ease, But Market Stability Holds Strong
Saskatchewan recorded 825 home sales in February, marking a 16% year‑over‑year decline and landing just below the 10‑year average. While activity has cooled from the near‑record pace of the past two years, sales remain firmly in line with long‑term trends.
That’s an encouraging sign as we head into what’s typically the busiest season of the year.
📉 New Listings Remain Scarce
The supply story remains the biggest headline:
New listings down 7% year-over-year
Inventory 31% below the 10‑year average
Of 3,519 active units, more than 700 are conditionally sold, leaving just 2,792 true active listings across the province
Association CEO Chris Guérette sums it up well: “Demand remains present across Saskatchewan, but inventory constraints continue to shape what buyers and sellers can actually purchase or sell.”
Even with small improvements in supply, we’re still operating far below historic norms.
📈 Prices Continue Their Upward Climb
Despite softer sales, prices are still rising:
Benchmark price: $363,800
Up from $359,500 in January
Up 6% year-over-year
Every Saskatchewan community posted annual price gains—some as high as 13%
Guérette adds that new listings will be the key factor to watch this spring. Regions seeing even modest supply increases are also seeing stronger sales, highlighting just how sensitive the market is to inventory shifts.
🌾 Regional Highlights
📍 Sales Trends
Five of six economic regions saw year-over-year sales declines. Swift Current–Moose Jaw was the standout—posting an increase and remaining the only region above its 10‑year average.
📍 Inventory Pressures
Regina–Moose Mountain and Saskatoon–Biggar continue to face the tightest conditions. Province-wide, five of six regions are operating with inventory levels more than 45% below their 10‑year averages.
📍 Where Supply Improves, Sales Follow
Regions with even slight increases in months of supply also reported some of the strongest sales activity—proof that buyers are ready and waiting when options appear.
📈 Price Trends Across the Province
Tight supply + steady demand = rising prices.
For the second month in a row, every Saskatchewan community posted year-over-year price gains. Three communities saw double‑digit growth:
🏙️ City Spotlights
🌆 Regina
198 sales (down 21% YOY)
14% fewer new listings
Of 494 active units, nearly 150 are conditionally sold
347 true active listings heading into March
Benchmark price: $336,400 (up from $330,600 in January)
🌉 Saskatoon
271 sales (down 16% YOY)
New listings also declined
Of 614 active units, 164 are conditionally sold
450 true active listings heading into February
Benchmark price: $421,600 (up from $417,800 in January)
🌲 Prince Albert
25 sales (down 22.8% YOY)
41 new listings
107 active listings (down 10% YOY)
4 months of supply (50% below the 10‑year average)
⭐ Bottom Line
With inventory this tight, prices naturally climb, creating a strong seller’s market. If you’re thinking about listing, this is an excellent moment to secure top dollar.
For buyers, staying informed and prepared is key—Saskatchewan remains one of the few provinces offering a stable, affordable market with real opportunity.
If you’re curious how these trends affect your plans—or want a personalized look at your home’s value—I’m always here to help.
Conrad Kruger | eXp Realty 📞 306‑941‑1684
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