Market Report of April 2025

May 12, 2025 | Marla Janzen, Marlas Real Estate Market Report

Inventory Squeeze Pushes Prices to New Highs

The Saskatoon real estate market continued its strong performance in April 2025, even as sales volumes slipped year-over-year. A deepening supply shortage and steady buyer demand have pushed benchmark prices to record highs, making this a crucial moment for both buyers and sellers to understand the shifting dynamics.

Sales Activity Slows, But Still Above Long-Term Trends

  • Saskatoon recorded 440 residential sales in April — a 16% drop year-over-year, but still 11% above the 10-year average. While this may appear to signal a cooling market, it’s actually reflective of constrained inventory rather than declining demand.
  • Inventory continues to shrink. April saw 641 new listings, 12% fewer than last year, and a staggering 18% below the 10-year average. With only 681 total units available and a significant portion already conditionally sold, active listings remain low, contributing to an ultra-tight 1.55 months of supply. For context, a balanced market typically hovers around 4 to 6 months of supply.
  • Saskatoon’s benchmark home price rose to $422,600, up 7.1% from April 2024 and beating the previous record of $415,900 set just a month prior. This marks another strong indicator that low supply continues to put upward pressure on home values.

  • Property Type Snapshot – Even apartment condos, which typically experience softer growth, are seeing notable appreciation in this tight market.

    • Detached Homes: Benchmark price at $485,900, up 7% YoY

    • Townhouses: $353,300, up 8% YoY

    • Apartments: $257,400, up 10% YoY

Stats

641

New Listings

440

Homes Sold

7.1%

benchmark price up year over year

20.8%

  Inventory Year  to Year Down

$522,076

     Avg Price        Single family  

$358,498

Avg Price Townhouse

$252,705

Avg Price Condominium

27

        Days on         Market

What Does This Mean for You?

For Buyers: Act decisively. Properties are moving quickly, and waiting could mean paying more later.

For Sellers: You’re in the driver’s seat. With limited competition and fast-rising prices, this is an ideal time to list.

While year-over-year sales are down, the Saskatoon real estate market remains exceptionally resilient. With inventory at historic lows and prices climbing, strategic timing is essential for both buyers and sellers. Whether you’re thinking of upsizing, downsizing, or getting into the market for the first time, staying informed is your best advantage.

 

📞 Ready to navigate this market? Let’s talk.

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