The Saskatoon real estate market kicked off 2025 with strong momentum, continuing the trends we observed in late 2024. With increasing home prices, limited inventory, and steady demand, the market remains competitive for both buyers and sellers.
Key Market Insights
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Home Prices on the Rise: The total residential benchmark price in Saskatoon reached $403,400, marking a 7.4% year-over-year increase. This rise suggests continued confidence in the market and growing property values.
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Sales Performance: A total of 253 residential properties were sold in January, reflecting a 3% year-over-year increase. This marks the second-strongest January on record, demonstrating resilience despite external economic conditions.
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Inventory Challenges: Saskatoon had 451 new listings in January, a 24% increase compared to last year. However, inventory levels dropped 15% year-over-year, with only 618 active listings at the end of the month—more than 50% below the 10-year average. This limited supply has contributed to rising home prices and a competitive market.
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Tight Market Conditions: The months of supply stood at 2.44 months, reinforcing the seller’s market conditions. Anything below four months typically signals an environment where demand outpaces supply, leading to price increases and quicker sales.
Market Trends by Property Type
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Detached Homes: The benchmark price for detached homes rose to $463,900, a 6% year-over-year increase.
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Semi-Detached Homes: Prices in this category saw a notable jump, reaching $503,200, reflecting a 9% increase.
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Row/Townhouses: These properties saw a benchmark price of $334,600, up 5% from last year.
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Apartments: Apartment prices grew 9% year-over-year, now averaging $242,100.
Stats
451
253
3.3%
14.9%
$485,518
$328,054
$261,490
41
What This Means for Buyers and Sellers
For Buyers: With rising prices and limited inventory, acting quickly and having pre-approved financing will give you a competitive edge. Buyers should be prepared for multiple-offer scenarios and should work closely with a knowledgeable real estate agent.
For Sellers: The market continues to favor sellers, with strong demand and low inventory levels. Pricing strategically and staging your home effectively can help maximize your return in this market.