SASKATCHEWAN — The Saskatchewan housing market is heading into spring with a familiar problem: buyers are ready, but homes are hard to find.
New data shows demand across the province remains steady, but a severe shortage of homes for sale is tightening the market and pushing prices higher, creating a challenging environment for buyers trying to get into the market.
In February, Saskatchewan recorded 825 home sales, down 16 percent from last year but still close to the long-term average for the month. At the same time, the number of homes coming onto the market continues to shrink.
New listings fell seven percent year-over-year and sit 31 percent below the 10-year average, leaving buyers with fewer choices as the busy spring buying season approaches.
The result is a market where competition remains intense.
Across the province there were 3,519 homes listed at the end of February, but more than 700 were already conditionally sold, leaving just 2,792 homes actually available to buyers.
“Demand remains present across Saskatchewan,” said Chris Guérette, CEO of the Saskatchewan Realtors Association. “But 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.”
Prices continue climbing
Limited supply combined with steady demand continues to push prices upward.
The province’s residential benchmark price reached $363,800 in February, up from $359,500 in January and more than six percent higher than a year ago.
Every community in Saskatchewan reported year-over-year price gains.
Some markets are heating up even faster.
Estevan posted the largest jump, with prices rising 13 percent, followed by Melville at 11 percent, Humboldt at 10 percent, and Moose Jaw at nine percent.
Those numbers reflect a market where available homes are scarce and buyers often compete aggressively when properties appear.
A difficult market for buyers
For Regina resident Jeff Hamilton, the numbers reflect a reality he and his wife have been experiencing for months.
The couple began their search for their first home in October and quickly discovered how competitive the market has become.
“We’ve gone through probably a dozen home tours and loved many houses,” Hamilton said. “We’ve put in a bunch of offers and just haven’t been able to get past the offering stage.”
Hamilton says they have tried nearly every strategy to compete.
They have offered above asking price, shortened condition periods and even increased deposits in an effort to make their offers more appealing.
Still, it has not been enough.
“We’re getting outbid on a lot of homes,” he said. “We’re putting in twenty or thirty thousand over asking and still getting told someone else had a higher offer.”
In some cases, he says winning offers have come in $30,000 to $40,000 above the asking price, or from buyers willing to waive inspections entirely.
“It just feels like a really tough market for first-time buyers that don’t have the financial background to offer extreme amounts.”
Regina and Saskatoon remain tight
The pressure is especially strong in the province’s two largest cities.
Regina recorded 198 home sales in February, down 21 percent year-over-year but still close to historical averages.
Inventory remains tight. At the end of the month there were 494 homes listed, but nearly 150 were already conditionally sold, leaving just 347 active listings heading into March.
Regina’s benchmark home price climbed to $336,400, up seven percent compared to February last year.
Saskatoon faces even tighter conditions.
The city recorded 271 sales in February, while only 450 homes remained available after conditional sales were factored in.
Prices there reached a benchmark of $421,600, up five percent from a year ago.
The spring market will decide
Real estate experts say the next few months could determine how the rest of the year unfolds.
Spring is traditionally the busiest season for real estate in Canada, when warmer weather and moving schedules encourage more homeowners to list properties.
The biggest question is whether supply will increase fast enough to meet demand.
“As we move toward the spring market, the key factor to watch will be new listings,” Guérette said. “The opportunity for a healthier balance in 2026 depends largely on whether supply can respond to sustained demand.”
For buyers like Hamilton, the hope is simple.
More homes.
Until then, the search continues.
“My advice to anyone looking right now is don’t panic buy,” he said. “Don’t just grab any house because you feel pressure. Wait for the right one.”
In Saskatchewan’s tight housing market, patience may be one of the most valuable assets a buyer can have.
