Sarah Mills: Carney will need to be careful about his strategy in Trump meeting
Sarah Mills says Prime Minister Mark Carney will need to be careful about his strategy as he meets with U.S. President D...
Home prices hit record highs in Saskatchewan last month, but inventory levels remain low across the province.
According to data published by the Saskatchewan Realtors Association, the province’s residential benchmark price rose from $353,600 in March up to a record high of $360,500 last month, representing a jump of more than six per cent over April of 2024.
Read More:
- ‘Near-record demand’: Sask. housing market surges, defying tariff concerns
- Saskatoon’s 2025 assessment shows residential property values increase by 13 per cent average
- Housing sales up across Sask., but inventory levels well below average
“At the end of April, there were 4,371 active listings across the province – up slightly from 3,851 in March,” the association added in a release.
“Despite this monthly increase, inventory was still down 18 percent year-over-year and remains nearly 50 percent below the 10-year average.”
The association said there were 1,470 home sales reported in the province last month, a 10 per cent drop from April of 2024 but still the second-strongest April on record. And despite the dip, sales still outperformed the 10-year average, as they have for the previous 22 consecutive months.
Regina saw 365 sales last month, down 13 per cent year-over-year but still well above the 10-year average. The benchmark price in Regina sat at a record $335,500 last month, up from $326,300 in March.
The trends were similar in Saskatoon, where 440 sales were reported in April, a drop of nearly 16 per cent from April of 2024. Saskatoon’s benchmark price was $422,600 last month, setting a new record for the city and beating March’s benchmark of $415,900.
“Our market continues to demonstrate remarkable resilience, with 22 straight months of sales outperforming long-term trends,” said Chris Guérette, the association’s CEO.
“Although sales decreased in April compared to last year, this isn’t a demand issue – it’s an inventory issue. The current inventory situation directly impacts our market’s ability to sustain even higher sales.”
Guérette said realtors are happy to see the market weathering the challenges of both economic uncertainty and low inventory.
“It remains a challenging time for prospective buyers, but we’re cautiously optimistic that the slight rise in inventory this month is a step in the right direction,” she said.
