Saskatchewan REALTORS® Association

Saskatchewan recorded 1,750 home sales in May, a five percent decrease compared to May 2024. However, sales remained over 16 percent above the province’s 10-year average for the month of May. Following a near-record year in 2024, year-to-date sales have also declined by nearly three percent through the first five months of 2025, but continue to outperform long-term, historical trends.

Despite strong monthly sales, inventory levels increased compared to the month prior, with 5,008 available units across the province at month’s end. While this modest inventory gain offered some relief, over 900 of these units are conditionally sold and expected to leave the market, while inventory levels remain over 40 percent below the 10-year average.

“Our province’s housing market continues to exceed expectations, with May marking 23 consecutive months of sales above the 10-year average,” said Association CEO Chris Guérette. “The key takeaway isn’t the slight year-over-year sales dip following a near-record 2024 – it is our market’s continued resilience amid economic uncertainty and persistent supply challenges.

”Tight market conditions continued to drive further gains this month, as the province’s residential benchmark price rose to a record-high $369,500 in May, up from $360,500 in April and nearly nine percent higher than May 2024.

Significant price gains were not limited to the provincial benchmark price in May, as the cities of Humboldt, Martensville, Meadow Lake, Melville, Melfort, Moose Jaw, North Battleford, Prince Albert, Regina, Saskatoon, Swift Current, and Warman all reported record benchmark prices this month.

“Record benchmark prices across nearly a dozen communities in May, with price gains as high as 18 percent year-over-year, is quite significant,” noted Guérette. “We’re optimistic that market conditions will trend more towards balance in the coming months, but we see the impact it can have on housing prices when the market is this tight.”

Regional Highlights

The Yorkton-Melville and Swift Current-Moose Jaw regions reported year-over-year sales gains in May, while other regions reported sales declines compared to near-record 2024 sales levels.

The Regina-Moose Mountain and Saskatoon-Biggar regions continue to experience the tightest market conditions in the province, as both regions report less than two-and-a-half months of supply heading into June.

Price Trends

All regions of the province reported year-over-year price gains in May, with 11 communities setting new benchmark price records.

The City of Humboldt led the way in price gains for a second consecutive month, with prices nearly 18 percent higher than May 2024. Other notable gains include Meadow Lake (up 14 percent), Moose Jaw (13 percent), Prince Albert (12 percent), North Battleford (11 percent), and Melfort (10 percent).

City of Regina

The City of Regina reported 422 sales in May, down three percent year-over-year and over 23 percent above long-term, 10-year trends.

There were 622 new listings in May, up over 11 percent year-over-year and in line with historical averages for May. Despite some new listing relief, 172 of the 755 units available at the end of the month were conditionally sold, with 543 active units, or 1.8 months of supply, heading into June.

Regina reported a record benchmark price of $340,800 in May, up from $335,500 in April, and nearly seven percent higher than May 2024.

City of Saskatoon

Saskatoon reported 544 sales in May, down nearly five percent year-over-year but nearly 20 percent above the 10-year average.

New listings increased by 13 percent year-over-year and were in line with 10-year trends for May. Notably, nearly 300 of the 881 units available at the end of May were conditionally sold, resulting in 555 active units or 1.6 months of supply at the beginning of June.

Prices continue to surge in Saskatoon, as the Bridge City reported a new record benchmark price of $433,700 in May, up from $422,600 in April and over nine percent higher than May 2024.

For more information: Cole Zawislak Director of Public Affairs and Communications cole@sra.ca