Buy and Sell Saskatoon Real Estate

Saskatoon’s housing market continues to face significant supply pressures as demand remains strong and available inventory struggles to keep pace.

The city recorded 519 residential home sales in May, down four per cent compared to May 2025 but more than 10 per cent above the 10-year average for the month.

While inventory levels have improved across Saskatchewan in recent months, Saskatoon continues to report some of the tightest market conditions in the province. At the end of May, the city had 837 units in inventory, but more than 250 properties were conditionally sold, leaving only 560 active listings available heading into June.

As a result, Saskatoon entered June with just 1.6 months of supply, or 1.1 months when conditional sales are excluded, highlighting the ongoing imbalance between supply and demand.

“Our economy is growing, our population is growing, and people continue to choose Saskatchewan as a place to live and build their future,” said Chris Guérette, CEO of the Saskatchewan REALTORS® Association. “The challenge is that housing supply is not growing at the same pace.

“We’re adding listings, but demand continues to absorb them almost as quickly as they come online. That’s why we’re seeing a third consecutive month of record benchmark prices and why housing availability is becoming one of the most important conversations for Saskatchewan’s future.”

The tight market conditions continue to put upward pressure on home prices. Saskatoon’s residential benchmark price reached a new record of $444,400 in May, surpassing April’s record of $433,200 and exceeding the previous high of $435,200.

Despite modest improvements in inventory, ongoing supply shortages continue to shape market conditions and affordability in Saskatoon.

“The conversation today isn’t simply about home prices,” said Guérette. “When supply remains this far below historical levels month after month, the impacts extend well beyond the housing market. Housing availability affects labour mobility, economic growth and our province’s ability to attract and retain people.

“If Saskatchewan wants to continue growing, we need to make sure there are enough homes for that growth to occur.”

With sales remaining above long-term averages and inventory levels still exceptionally tight, Saskatoon’s housing market continues to underscore the need for additional housing supply to support the city’s growth and future economic development.

If you've been paying attention to the Saskatoon market lately, one thing is pretty obvious: things haven't slowed down much.

The last couple of weeks have continued the same trend we've been seeing through spring. Buyers are active, good homes are moving quickly, and inventory still feels tight in a lot of areas around the city. If a home shows well, is priced properly, and checks the boxes buyers are looking for, there's still a good chance it won't sit around very long.

We're also still seeing competition happening across different price ranges. It isn't every home and it isn't every situation, but multiple-offer scenarios are definitely still around. Buyers are realizing that waiting too long or trying to negotiate every deal aggressively can sometimes mean missing out altogether.

One thing that has stood out recently is that buyers seem more prepared than they were in the past. More people are coming into showings with financing already lined up and with a pretty good idea of exactly what they want. That usually means decisions are happening faster than they used to.

For sellers, this doesn't automatically mean putting a sign on the lawn and expecting instant results. Presentation still matters. Clean homes, good photos, smart pricing, and a plan for launch day still make a huge difference. Buyers are active, but they're also paying attention to value.

For buyers, preparation continues to be a huge advantage. Having financing ready, understanding neighbourhoods, and knowing where you're willing to compromise can make a big difference when the right property shows up.

As we head deeper into late spring and into summer, it will be interesting to see whether more inventory starts hitting the market. More listings would give buyers some breathing room, but right now Saskatoon still feels like a market where quality homes are getting a lot of attention.

The biggest takeaway over the last two weeks? The market still has momentum. It's not chaos, but it's definitely active.

If you're curious about what your home might be worth, or you're thinking about making a move this year, now is a good time to start the conversation.

Saskatoon’s housing market remained one of the strongest and most competitive in Saskatchewan this April, with 450 home sales recorded — up two per cent compared to last year and sitting 12 per cent above the city’s 10-year average. Even with ongoing inventory challenges, Saskatoon’s year-to-date sales continue to outperform historical trends, highlighting strong buyer demand across the Bridge City.

While new listings increased month-over-month, inventory across Saskatoon remains extremely tight. Housing supply is still more than 50 per cent below historical averages, leaving just 1.6 months of inventory available at the end of April — or only 1.1 months when conditional sales are factored in. Out of 714 listed properties, more than 200 were already conditionally sold, leaving just 503 active homes available heading into May.

This continued supply shortage is helping drive home prices higher across Saskatoon and throughout Saskatchewan. After reaching a record benchmark price of $435,200 in March, Saskatoon’s benchmark price adjusted slightly to $433,200 in April — still more than three per cent higher than April 2025.

Across Saskatchewan, the real estate market continues to see strong demand paired with historically low inventory levels. The province’s benchmark home price reached a record $347,300 in April, nearly five per cent higher than last year, as affordability pressures continue to grow in many communities. Saskatchewan remains one of Canada’s more affordable housing markets, but limited supply and steady buyer activity are continuing to place upward pressure on prices province-wide.

Conditions vs no conditions is one of the biggest decisions buyers and sellers are dealing with right now in the Saskatoon market, and lately it’s become even more important because of how competitive things still are. Over the past week, we’ve continued to see steady sales with fewer new listings hitting the market, which means buyers are still absorbing inventory and competition is sticking around, especially in the under $500,000 range. Prices are holding strong too, with Saskatoon benchmark values sitting in the low to mid $400s and trending up year over year, all driven by tight supply and consistent demand.

A conditional offer gives buyers protection. This usually includes financing, home inspection, or the sale of their current home. It gives them time to make sure everything checks out before they fully commit. In a market like Saskatoon, where inventory is still tight and many homes are moving fairly quickly, conditional offers can sometimes be seen as weaker, especially if the seller has multiple options. That said, for buyers who need that safety net, it’s still the smartest move. You don’t want to waive conditions and then find out after the fact that financing doesn’t go through or there’s a major issue with the property.

On the other side, no conditions - or firm offers - are what sellers love right now. With inventory levels still lower than normal and months of supply sitting around that 2 to 3 month range in many segments, we’re still in a market where strong offers win. A firm offer means no waiting, no uncertainty, and a much higher chance the deal actually closes. That’s why you’ll often see sellers take a slightly lower price if it comes with no conditions, especially in multiple offer situations. It’s cleaner, faster, and removes risk.

The key is strategy. Buyers shouldn’t be going in with no conditions unless they’re fully prepared, that means having financing locked down, understanding the property, and ideally doing as much due diligence upfront as possible. Sellers, on the other hand, need to look beyond just price and really evaluate the strength of each offer. In this market, the difference between a conditional and a firm offer can easily be the difference between a deal that closes and one that falls apart.

If you’ve been watching the Saskatoon real estate market lately, this past week pretty much confirmed what we’ve been seeing all spring - things are moving, and they’re moving fast.

Inventory is still tight across a lot of price ranges, especially in that $300,000 to $550,000 window. That’s where most buyers are competing right now, and when something clean hits the market in that range, it doesn’t sit. We’re still seeing multiple offers on well-priced homes, especially in areas like Brighton, Rosewood, Stonebridge, and Evergreen.

What’s interesting right now is the gap between homes that are priced right and show well versus ones that miss the mark. The good ones are selling quickly, sometimes within days, while the ones that are overpriced or need work are starting to sit longer. Buyers are still active, but they’re more selective than they were during peak frenzy periods.

Another trend this past week - more sellers are trying to time the market, thinking they can push pricing higher because of low inventory. In some cases that works, but in others it backfires and leads to price reductions or longer days on market. Strategy matters more than ever right now. Pricing just slightly under market value to create competition is still one of the most effective ways to drive strong offers.

On the buyer side, pre-approvals are becoming a bigger deal again. Sellers are paying close attention to who’s actually ready to move. If you’re shopping without one, you’re putting yourself at a disadvantage, especially in multiple offer situations.

We’re also seeing continued demand for move-in ready homes with updated finishes. Properties that feel modern, clean, and turnkey are commanding the most attention. On the flip side, homes that need renovations are still selling, but buyers expect a discount and are factoring those costs in more carefully.

Overall, the Saskatoon market is in a strong, balanced but competitive phase. It’s not the chaos we saw a couple years ago, but it’s definitely not slow either. The right homes are selling quickly, and the wrong ones are sitting.

If you’re thinking about making a move this spring, timing and strategy are everything. Whether you’re buying or selling, understanding how this current market is behaving can make a big difference in your results.

And from what we saw this past week, this momentum isn’t slowing down anytime soon.

Spring market is heating up in Saskatoon and here’s the reality - showing up without a pre-approval is like walking into a dealership and saying “I’ll figure out the money later.” It just doesn’t fly anymore.

Lately, more and more sellers (and listing agents) are asking one thing before they even let you in the door - proof of pre-approval.

So what’s changed, and why does it matter so much right now?

1. Sellers Want Serious Buyers Only

Inventory is still tight in a lot of Saskatoon neighbourhoods. When a listing hits the market - especially anything priced well - it’s getting attention fast.

Sellers don’t want:

• tire kickers

• “just looking” buyers

• people who might qualify

They want buyers who are ready to write an offer today.

A pre-approval tells the seller:
This buyer is legit
Financing won’t fall apart
This deal has a real shot at closing

2. You Actually Know Your Price Range (and Don’t Waste Time)

Without a pre-approval, buyers tend to:

• look too high and get disappointed

• look too low and miss out on better homes

• fall in love with something they can’t buy

A pre-approval locks in:

• your max purchase price

• your monthly payment comfort zone

• your down payment expectations

It turns guessing into a clear plan.

3. You Can Move FAST When the Right House Hits

Good homes in Saskatoon don’t sit around right now.

Especially in areas like:

• Brighton

• Evergreen

• Stonebridge

• Varsity View

You might have:

• 24–48 hours before offers come in

• multiple competing buyers

If you’re not pre-approved, you’re scrambling while someone else is writing an offer.

Pre-approved buyers?
They walk in ready
They can submit same-day offers
They win more deals

4. It Strengthens Your Offer (Big Time)

Let’s say there are 3 offers on a house.

Same price. Same conditions.

One difference:
One buyer is pre-approved
One buyer isn’t

Which one do you think the seller chooses?

Pre-approval reduces uncertainty. And in a competitive situation, certainty wins.

5. Some Sellers Won’t Even Allow Showings Without It

This is happening more often now.

Listing agents are starting to say:
“Pre-approval required before booking a showing”

Why?

Because sellers don’t want:

• unnecessary traffic through their home

• last-minute cancellations

• buyers who can’t actually buy

So if you don’t have one… you might not even get through the front door.

6. It Protects YOU Too

This isn’t just about sellers.

A pre-approval can:

• lock in an interest rate (huge if rates move)

• flag issues early (credit, income, debt ratios)

• give you time to fix things before you’re under pressure

Way better to find out now than after you’ve fallen in love with a house.

The Bottom Line

In today’s Saskatoon market, a pre-approval isn’t optional anymore - it’s step one.

It makes you:

• faster

• stronger

• taken seriously

And honestly, it saves a ton of time and stress.

Thinking About Buying?

Before we even start booking showings, I’ll connect you with a solid local mortgage broker to get you pre-approved properly (not just a quick online estimate).

Once that’s done?

That’s when the real fun starts - finding the one and actually having the power to get it.

Let’s go shopping the right way.

Saskatchewan’s housing market moved into spring facing continued pressure, as limited supply pushed home prices to a new all-time high and made affordability more challenging across the province.

In March, there were 1,256 residential home sales across Saskatchewan. That’s a slight one percent drop compared to last year, but still nearly 10 percent higher than the long-term average. While activity has cooled from the near-record pace seen in 2025, demand remains steady—year-to-date sales are still four percent above the 10-year average.

New listings reached 1,808 in March, increasing from February as the market begins its seasonal shift. However, listings are still down year-over-year and sit nearly 25 percent below typical historical levels. Inventory remains especially tight, with less than three months of supply available—more than 50 percent below what’s normally expected at this time of year.

This ongoing supply shortage is the main factor behind rising prices.

The provincial benchmark price climbed to a record $374,100 in March, up from $363,800 in February and more than six percent higher than March 2025. Price increases were seen across every community for the third month in a row.

Unlike many other Canadian markets that are seeing slower activity and rising inventory, Saskatchewan continues to face a different reality—demand remains consistent, but supply hasn’t kept up. This imbalance is what’s driving prices higher and making it more difficult for buyers, especially those entering the market for the first time.

Seasonal factors are also contributing. A slower transition out of winter has delayed the usual increase in new listings, keeping inventory levels tight during a key time of year.

As the spring market progresses, the big question is whether supply will improve. Historically, increased inventory tends to support more sales activity—but without a meaningful rise in listings, upward pressure on prices is prices is expected to continue.

Saskatoon Market Update

Saskatoon recorded 388 home sales in March, down four percent compared to last year but still eight percent above the 10-year average. Although sales haven’t matched the strong levels seen in early 2025, year-to-date activity is still six percent higher than long-term trends.

New listings increased compared to March 2025, but remain well below historical norms. This has left Saskatoon with some of the tightest market conditions in the province, heading into the busy spring season.

At the end of March, the city had just 1.6 months of supply. Of the 638 homes available, nearly 200 were already conditionally sold, leaving only 440 active listings heading into April.

Home prices in Saskatoon also reached a new record. The benchmark price rose to $435,200 in March, up from $421,600 in February and more than five percent higher than March 2025.

The Saskatoon real estate market has been pretty wild the last couple weeks, and honestly, it feels like spring hit early this year.

The big thing right now is pressure building in a few different ways. It’s not just home prices, it’s everything around it. Insurance, borrowing costs, just the overall cost of owning a home. Buyers are definitely noticing it. Especially first-time buyers, they’re being a lot more careful with their decisions instead of just jumping on anything.

That said, demand hasn’t gone anywhere. If anything, I’ve been busier than ever. March was a really strong month for me - sold several homes and spent a ton of time out with buyers. A lot of those buyers are actually referrals from past clients, which says a lot about how active things still are. People are still making moves, they’re just being a bit smarter about it.

Inventory is still tight too, and that’s a big part of the story. There just aren’t enough good listings coming up to match the number of buyers out there. So when something solid hits the market, it’s getting attention right away. You’re seeing quicker sales and pretty competitive situations, especially in that mid-range price point.

New builds are helping a bit, but not enough to really change things. There’s definitely construction happening around the city, but it’s not like there’s a flood of new homes hitting the market. Demand is still ahead of supply in most areas people actually want to be in.

There’s also been talk about the city trying to improve housing supply long term, which is great, but that’s more of a future fix. It’s not going to change what we’re seeing right now heading into spring.

From what I’m seeing day to day, it still leans toward a seller’s market if the home is priced right and shows well. Buyers are active, they’re just more calculated. They’re thinking things through a bit more, but they’re still out there and still writing offers.

The next few weeks will be interesting. Usually more listings start to come up this time of year, so we’ll see if that gives buyers a bit of breathing room. But if inventory stays low, it’s going to stay competitive.

Overall, Saskatoon’s market feels strong. Not crazy, not out of control, just steady, busy, and a lot of opportunity on both sides if you play it right.

Buying a home is exciting. But right after the offer gets accepted, reality hits - inspections matter more than almost anything else in the deal.

This is where things either stay smooth… or get messy fast.

What a home inspection actually does

A home inspection isn’t about finding a “perfect house.” That doesn’t exist.

It’s about:

• Understanding what you’re really buying

• Catching issues early

• Giving you leverage if something’s off

Think of it like this - you’re not just buying a house, you’re buying everything that comes with it… good and bad.

The big things inspectors look for

Not every scratch or nail matters. These do:

Structure

• Foundation cracks

• Shifting or uneven floors

Roof

• Age and condition

• Missing or damaged shingles

Mechanical

• Furnace age and size

• Water heater condition

Electrical

• Outdated panels

• Improper or unsafe connections

Plumbing

• Leaks, pressure issues

• Old materials like poly B

What happens when issues come up?

Almost every inspection finds something. The key is how you handle it.

You’ve got options:

• Ask the seller to fix it

• Ask for a price reduction

• Accept it and move forward

• Walk away

The goal isn’t to “win” - it’s to make sure the deal still makes sense for you.

Where deals fall apart

It’s usually not the problem itself. It’s:

• Surprises buyers weren’t prepared for

• Overreactions to minor issues

• Poor advice or no strategy

I’ve seen deals saved over furnace issues… and deals die over loose outlets.

Pro tip (this matters more than people think)

Don’t wait for the inspection to start learning about the house.

Before you even write an offer:

• Look at age of roof, furnace, windows

• Ask about past repairs and upgrades

• Check the big-ticket items

It changes how you write the offer in the first place.

The bottom line

A home inspection isn’t there to scare you. It’s there to protect you.

The right approach:

• Stay calm

• Focus on the important stuff

• Have a plan

Because at the end of the day, the best deals aren’t the ones with zero issues…
they’re the ones where you know exactly what you’re getting into.

If you’re thinking about buying and want to walk through what to expect before you even get to the inspection stage, let’s chat

The Bank of Canada made its announcement today and decided to hold interest rates steady.

No hike. No cut.

Pretty neutral headline… but here’s the thing:

Saskatoon’s market doesn’t feel neutral right now at all.

What the rate hold actually means

The Bank is basically in wait-and-see mode.

• Inflation is improving

• The economy is slowing a bit

• But they’re not ready to cut yet

So rates stay where they are… for now.

Meanwhile in Saskatoon

While rates are holding, Saskatoon’s housing market is doing its own thing.

• Well-priced homes are moving fast

• Multiple offers are still happening

• Inventory is tight in a lot of price ranges

Especially in that $350K - $600K range, things are competitive.

So even though rates haven’t dropped yet…

Demand hasn’t gone anywhere.

What this means for buyers

This is the part most people are trying to figure out.

You’re probably thinking:

“Do I wait for rates to drop?”

Here’s the reality right now:

• Rates are stable (which helps with planning)

• But prices are holding strong or creeping up

• And competition is still there

So waiting might get you a better rate later…

But you could be competing with more buyers when that happens.

What this means for sellers

This is a pretty solid window.

• Buyers are active

• There’s still urgency in the market

• And you don’t have the uncertainty of rising rates scaring people off

If your home shows well and is priced right…

You’re still in a strong position.

The bigger picture

We’ve shifted out of the “rates are climbing every month” phase.

Now we’re in a more stable environment, and that’s huge.

Because when things stabilize:

• Buyers regain confidence

• Sellers feel more comfortable listing

• Deals actually start coming together again

Where this is likely going

Most people expect rate cuts eventually… just not overnight.

And when that happens?

More buyers jump in

Competition increases

Prices can get pushed up even more

That’s why this current moment is kind of interesting.

It’s not the cheapest rates…

But it’s also not peak chaos either.

The takeaway (Saskatoon version)

Rates held today.

But locally?

The market is still moving.

If you’re waiting for everything to line up perfectly - low rates, low prices, no competition - that moment usually doesn’t show up.

It’s more about timing your move based on your situation.

If you’re trying to figure out your next step

Whether you’re buying, selling, or just watching things…

We can map it out properly.

No pressure, no sales pitch - just what actually makes sense for you in this market.

Shoot me a message anytime

If you’ve been wondering what’s going on with the Saskatoon real estate market lately, here’s the quick rundown.

The market is still tight.

In February, Saskatoon had 271 home sales, which is about 16% lower than last year and just a little below the 10-year average. But that doesn’t necessarily mean the market is slowing down. What’s really happening is that there just aren’t a lot of homes available for buyers to choose from.

That supply issue has been the big story for a while now.

Inventory Is Still Very Low

At the end of February, Saskatoon had 614 homes showing as available, but here’s the important detail.

164 of those were already conditionally sold, meaning they’re basically spoken for and will likely be leaving the market soon.

So when you take those out, there were really only about 450 active homes available across the entire city heading into March.

For a city the size of Saskatoon, that’s not much inventory at all.

And when supply stays tight like this, it tends to keep pressure on prices.

Prices Continue to Climb

The benchmark price in Saskatoon reached $421,600 in February.

That’s:

• up from $417,800 in January

• about 5% higher than February last year

So prices are still moving upward, but not in a crazy spike. It’s more of a steady climb driven mostly by the lack of homes available.

What This Means for Buyers

If you’re a buyer right now, the biggest challenge isn’t necessarily price.

It’s finding the right home before someone else does.

Good properties are still attracting strong interest, especially if they’re priced well and in desirable neighbourhoods.

That doesn’t mean every house sells instantly, but the good ones definitely don’t sit long.

What This Means for Sellers

For sellers, the tight inventory is good news.

With fewer homes competing for attention, well-presented properties are still seeing strong activity. Pricing strategy still matters, but the lack of supply is helping keep things moving.

Heading Into the Spring Market

Spring is usually when we see a wave of new listings hit the market.

The big question this year will be whether enough homes come up for sale to give buyers more options.

If listings stay low, we’ll likely keep seeing the same pattern:

• steady demand

• limited inventory

• gradual price growth

And honestly, that’s pretty much been the story of the Saskatoon market for the past couple years.

If you’re thinking about buying or selling this spring and want to talk through the market, feel free to reach out anytime. I’m always happy to chat about what’s happening out there.

-Kevin Leuschen

If you’ve bought or sold a home with me, you’ve probably had this moment:

“Why do you need my ID?”
“Why are you asking where my deposit is coming from?”

Totally fair questions.

The reason is simple. It’s federal law.

In Canada, real estate professionals are regulated by Financial Transactions and Reports Analysis Centre of Canada, better known as FINTRAC. Their job is to prevent money laundering and terrorist financing, and real estate is considered a higher risk industry because large amounts of money move through it.

So we are legally required to identify our clients and understand where funds are coming from.

Not optional. Not a brokerage policy. Federal regulation.

Why We Verify ID

When I ask for government photo ID, I’m required to:

• Confirm you are who you say you are

• Determine whether anyone is acting on your behalf

• Complete a risk assessment on the transaction

This protects the integrity of the deal and the broader real estate market. It also protects you from fraud and identity misuse.

Why We Ask About Source of Funds

If you’re providing a deposit or purchasing a property, I’m required to take reasonable measures to understand where the money is coming from.

Common examples are:

• Employment savings

• Sale of another property

• Investments

• Inheritance

• A family gift

It’s not about being intrusive. It’s about ensuring the funds are legitimate and that the transaction makes sense based on what we know about you as a client.

What Clients Should Know

These requirements apply to every REALTOR in Canada. FINTRAC audits brokerages and issues real penalties for non compliance.

So when I ask for ID or ask about your deposit, it’s not paperwork for the sake of paperwork. It’s part of doing things properly and protecting everyone involved.

If you ever have questions about it, just ask. I’d rather explain it clearly than have it feel confusing or uncomfortable.