Thoughts on Saskatoon Real Estate – June 2025

The summer market is in full swing in Saskatoon real estate. While national analysis indicate a cooling of the market in aggregate, real estate activity in Saskatoon is as strong as ever. The May statistics from the Saskatchewan REALTORS® Association (SRA) show prices have increased by over 9% year-to date, while inventory levels remain well below the 10-year average. I’m still regularly seeing houses sell well above the listing price. This is especially true below the $700,000 mark, where demand for affordable homes remains competitive.

While a slight drop in sales and an increase in listings was noted YTD from May, preliminary statistics from June 29th already show nearly 6.4% more sales than June 2024. However, there were also almost 17% more new listings compared to last June.

Increased inventory can signal the market shifting towards more balanced conditions. But this year’s listing/sales numbers are still consistent with the past 5 years of steady market growth. Bottom line? Saskatoon’s still shining, at least for now.

People regularly ask me why Saskatoon is bucking the national trend.  The simple answer is that the market is still in short supply, and building costs are increasing. As the cost of new homes goes up, buyers are willing to pay more for older homes (especially ones that have been renovated). It doesn’t help that new construction has not been able to keep up to the demand for homes. The economic uncertainty of a trade war with the United States has not put a damper on the market, so far. Saskatoon is in relatively good shape, economically speaking, compared to many other parts of the country. Recent incentives for first-time home buyers have also increased demand, alongside their budgets. And while prices are booming, homes remain more affordable in Saskatoon than in many centres in Ontario, BC, and even Calgary.

Overall, the trend of rising prices doesn’t seem to be changing. While it’s impossible to say for sure what the future will hold in the long run, it’s clear that buyers still have confidence in Saskatoon real estate.