Saskatchewan homebuyers face record prices and a two-month supply of homes as national trends diverge

Saskatoon has less than a two-month supply of homes available for sale. If no new homes enter the market, the city will run out of available inventory within that window — a reality that is pushing prices higher and forcing buyers to act fast or risk being priced out. The provincial benchmark price of a home has risen to $374,100, up from $363,800, with Saskatoon’s benchmark hitting a record $435,200 and Regina’s reaching $343,700. Saskatchewan’s inventory levels are 50% below normal for this time of year. That scarcity is fueling intense competition: some homes are selling within hours, and the average overbid is now between $34,000 and $36,000, with some offers soaring as high as $120,000 above asking. First-time buyers like Patrick Arno are finding it difficult to match their wish lists, forced to compromise or act aggressively. Real estate agents report that buyers are submitting pre-approval letters, offering flexible possession dates, increasing deposits, and even writing personal appeals to sellers — tactics now essential in a market where price alone doesn’t guarantee success. While British Columbia, Alberta, and Ontario see prices and demand fall amid rising inventory, Saskatchewan’s market is moving in the opposite direction. “We should expect upward pressure on prices,” said Saskatchewan Realtors Association CEO Chris Guérette, noting the market is tightening just before the busiest season. The divergence underscores a fragmented national housing landscape, where localized supply constraints, not broad economic trends, are now the primary drivers of affordability.