Saskatchewan Real Estate Market Update – February 2025
Key Takeaways
- Saskatchewan recorded 986 home sales in February, slightly down year-over-year but well above historical trends.
- New listings declined by nearly 14%, intensifying inventory shortages across the province.
- Regina’s benchmark price rose to $317,700, with inventory 50% below the 10-year average.
- Saskatoon’s home prices increased to $405,400, marking a 6% year-over-year rise.
- Limited housing supply is driving strong rental demand, making now an ideal time for investors to expand their portfolios.
Saskatchewan Housing Market Overview
Despite economic uncertainties, Saskatchewan’s real estate market remains resilient. February saw 986 home sales, maintaining above-average activity for the 20th consecutive month. While sales dipped 1% year-over-year, they remain well above 10-year averages.
At the same time, new listings declined nearly 14% compared to February 2024, further tightening supply. The inventory shortage is worsening, with only 3,851 units available, a 21% year-over-year drop and nearly 50% below the 10-year average. Demand continues to push prices up, with Saskatchewan’s benchmark home price rising to $344,700, a 5% increase from last year.
For rental property investors, these conditions highlight growing demand for rental housing. As homeownership becomes more challenging due to low inventory and rising prices, more residents are turning to rentals, presenting a prime opportunity for investors.
Regina Market Update
Regina recorded 253 sales in February, reflecting a 7% decline year-over-year. However, sales were 30% above long-term averages, demonstrating continued market strength despite inventory challenges.
New listings in Regina fell 5% year-over-year, with only 304 new properties hitting the market. At the end of February, 514 units remained available, of which 124 were conditionally sold. With just over two months of supply, Regina is experiencing its lowest February inventory in nearly 20 years.
Tight supply continues to drive price growth, with Regina’s benchmark price rising to $317,700, up 2% from February 2024. For investors, these conditions signal strong rental demand, as fewer available homes push more residents toward renting. Low vacancy rates and rising home values make Regina a high-potential market for rental property investments.
Saskatoon Market Update
Saskatoon’s real estate market saw 323 home sales in February, marking a 5% year-over-year increase and a 25% jump over the 10-year average.
The city’s inventory challenges remain, with 381 new listings, down 12% from last year. At the end of February, 581 homes were available, but 156 were conditionally sold, leaving fewer options for buyers and keeping supply extremely low. Less than two months of supply remains heading into March, marking one of the lowest levels in years.
Saskatoon’s benchmark price rose to $405,400, reflecting a 6% increase year-over-year. With prices rising and available inventory shrinking, the rental market is becoming increasingly competitive. Investors looking for strong rental income and property appreciation will find Saskatoon a prime location for expanding rental portfolios.
What This Means for Rental Property Investors
Saskatchewan’s low housing inventory and rising home prices continue to create a strong rental market. With fewer homes available for purchase, rental demand is climbing, making this a strategic time for investors to expand their rental property holdings.
Key factors supporting rental investment in 2025:
- Limited housing supply is driving higher rental demand.
- Home prices are rising, making homeownership less accessible and increasing the number of renters.
- Regina and Saskatoon remain top rental markets, with low vacancy rates and increasing property values.
