Saskatchewan’s housing market continued its strong performance in March, outpacing national trends despite economic uncertainty according to a news release from the Saskatchewan Realtors Association.
The province recorded 1,277 home sales, an 8% increase from last year and 13% above the 10-year average.
However, supply challenges persist. New listings fell by 2%, leaving the total available inventory down 21% year-over-year and nearly 50% below long-term trends. In major markets, Saskatoon has just 0.98 months of supply, while Regina follows with 1.29 months.
The shortage continues to push home prices higher. The benchmark home price in Saskatchewan rose to $353,600, a 6% increase from March 2024. Regina’s price climbed to $326,300, nearing an all-time high, while Melfort saw the largest gain at 22% year-over-year.
All regions except northern Saskatchewan saw higher sales, with Yorkton-Melville (13%), Saskatoon-Biggar (12%), and Prince Albert (10%) leading the way. As Saskatchewan heads into a busy spring market, experts urge patience and professional guidance for buyers navigating the tight conditions.
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