Buy and Sell Saskatoon Real Estate

If you’ve owned a home in Saskatoon for even a few years, there’s a good chance you’re sitting on considerably more equity than you realize.

Our real estate market has continued to push higher, and we’ve recently seen another jump in home values. For existing homeowners, that increase isn’t just good news for the eventual day you decide to sell. It may give you access to equity you can put to work today.

First, What Is Home Equity?

Home equity is simply the difference between what your home is worth today and what you still owe against it.

For example, imagine you purchased your home several years ago for $400,000. Today, it may be worth $525,000 and perhaps your mortgage has been paid down to $320,000.

That would leave you with approximately $205,000 in equity.

And that’s where refinancing can become interesting.

In Canada, homeowners can generally borrow against their home equity up to certain lending limits, with refinancing commonly available up to 80% of the appraised value of the property, subject to lender approval and qualification requirements.

What Could You Do With That Equity?

Refinancing essentially allows you to restructure your mortgage and potentially access some of the equity that has accumulated in your property.

That money could be used for things like:

• Renovating your home – kitchens, bathrooms, basements, windows, flooring, landscaping or a major addition.

• Paying off higher-interest debt – credit cards, vehicle loans, lines of credit or other debts may carry significantly higher interest rates than mortgage financing.

• Investing back into the property – making improvements that could increase the enjoyment, functionality and potentially the future resale value of your home.

• Helping with a major purchase or expense – education, a business opportunity, another property or other large financial needs.

• Consolidating several monthly payments – depending on your situation, combining higher-interest debts into your mortgage may simplify your monthly finances.

The important part is that refinancing isn't free money. You're borrowing against your home and increasing the amount you owe, so the numbers need to make sense for your particular situation. There can also be appraisal, legal and other financing costs involved.

Rising Home Values Can Change the Equation

This is the part many homeowners overlook.

You might still think about your home's value based on what you paid for it five, eight or ten years ago. But your lender isn't necessarily concerned with what you originally paid. The current appraised value of the property is an important part of determining how much financing may be available.

That means a rising Saskatoon market can create equity without you doing anything other than owning the home, while every mortgage payment you've made may have been building additional equity at the same time.

The Saskatchewan REALTORS® Association's MLS® Home Price Index is specifically designed to track changes in residential property values over time and can show how values have changed across different markets, property types and neighbourhoods.

A Simple Example

Let's say your home is currently worth $600,000 and you owe $350,000 on your mortgage.

At 80% of the home's value, the lending threshold would be approximately $480,000.

$480,000
minus $350,000 owing
= up to approximately $130,000 of potential available equity

That doesn't automatically mean you should borrow $130,000, or that every homeowner will qualify for that amount. Income, credit, debt servicing, mortgage terms, appraisal and lender requirements all come into play. Refinancing with a federally regulated lender can also involve mortgage qualification requirements.

But it demonstrates why knowing your home's current market value can be surprisingly important.

Before You Call the Bank, Find Out What Your Home Is Actually Worth

This is where I can help.

If you're considering refinancing, renovating, consolidating debt or simply wondering how much equity you've built, I can prepare an updated market evaluation of your property based on what's actually happening in your Saskatoon neighbourhood.

You don't need to be thinking about selling.

Sometimes knowing your current home value is simply useful financial information. Once you have a realistic idea of what the property could sell for in today's market, you can take that information to your mortgage broker or lender and discuss whether refinancing makes sense for you.

If you bought your home a few years ago, you might be surprised by just how much equity you've built.

Curious what your home would be worth in today's market? Send me a message. I'd be happy to take a look and give you an updated market evaluation.

Kevin Leuschen Real Estate | Coldwell Banker Signature

The Saskatoon real estate market has stayed busy through the last few weeks, and while we’re starting to see the usual late-summer shift, there’s still plenty of competition for good homes.

According to the latest Saskatchewan REALTORS® Association (SRA) data, 539 homes sold in Saskatoon during July. That was down 11% compared to the unusually strong July we had last year, but here’s the important number: sales were still 18% above the 10-year average for the month.

So while you might hear that sales are “down,” Saskatoon is still running well ahead of what would historically be considered a normal market.

Prices Are Still Near Record Territory

Saskatoon’s residential benchmark price finished July at $447,600, up approximately 4% from a year ago and only slightly below the record $448,400 reached in June.

By property type, July benchmark prices were:

• Detached homes: $520,900

• Townhouses: $368,600

• Apartments: $262,800

The bigger story continues to be inventory.

There were 928 homes in inventory at the end of July, which sounds like an improvement, but that number remains about 41% below the 10-year average. Saskatoon had just 1.72 months of supply, compared with a historical July average of 3.78 months. Of those 928 properties, 244 were already conditionally sold, leaving only 684 truly active listings heading into August.

That’s why certain price ranges can still feel extremely competitive.

What I'm Seeing Right Now

The market isn't quite as frantic across the board as it was earlier this spring, but well-priced homes are still getting attention quickly. Saskatoon homes averaged just 26 days on market in July, compared with a 10-year July average of 40 days.

For buyers, this means being prepared still matters. Have your financing lined up, know what you're looking for and be ready to make a decision when the right property comes along.

For sellers, low inventory remains a big advantage, but it doesn't mean every house automatically sells. Pricing, presentation and marketing still matter. Buyers have become more educated and selective, particularly when a property is priced aggressively.

With fall approaching, I'll be watching closely to see whether we get another bump in listings in September or whether inventory remains tight heading into the final stretch of 2026.

And Around Saskatoon This Week...

Rhythm & Roots Asian Festival + Night Market runs August 20–22, bringing three days of food, culture, entertainment and night market energy to the city.

Barney Bentall & The Legendary Hearts take the stage at Capitol Music Club on Thursday, August 20, with doors opening in the evening for a night of Canadian rock.

Treaty 6 150th takes place August 20–23, with special events and programming commemorating the 150th anniversary of Treaty 6.

TENACIOUS: A Celebration of 10 Years! comes to The Broadway Theatre on Friday, August 21, celebrating 10 years of 306 Elite Dance Company with an evening of live dance and performance.

Mitchell Doran performs live at Capitol Music Club on Friday, August 21, with the show starting at 6 PM.

Iron Kingdom hits Black Cat Tavern on Friday, August 21 for a night of live heavy metal.

Aviation Days takes over the Saskatchewan Aviation Museum August 22–23, featuring aircraft displays, open cockpits, fly-bys, family activities and more.

Driven: A Rush Tribute performs at Coors Event Centre on Saturday, August 22, bringing the music of legendary Canadian rock band Rush to the stage.

Bokeh Beats DJ Night happens Saturday, August 22 at Bokeh on the Plaza, with Mr. Fudge and special guest DJ Swann taking over from 8 PM into the night.

There are plenty of other things happening around the city too, including Family Fun Day at the Diefenbaker Canada Centre, the Darryl Anderson Summer Barn Dance, Saskatoon Heritage Society walking tours, birding tours, the U23 Men’s Canadian Fast Pitch Championship and the final weekend of Shakespeare on the Saskatchewan.

Summer always seems to go too fast in Saskatoon, so enjoy these last few weeks while they're here!

If you're thinking about buying or selling this fall, or you're simply curious what your home might be worth in today's market, give me a call or send me a message. I'm always happy to talk Saskatoon real estate.

Kevin Leuschen Real Estate
Coldwell Banker Signature

The summer months are typically the busiest time of year for Saskatchewan's housing market, with more homes hitting the market and more buyers actively searching. While activity has increased this summer, inventory remains exceptionally low, meaning buyers still have fewer options than they would normally expect during the busiest season.

Across Saskatchewan, there were 1,653 residential home sales in July, an 11 per cent decrease compared to the record-breaking July 2025. Despite that decline, the market continues to perform well above normal, with sales during the first seven months of 2026 sitting more than eight per cent above the 10-year average.

Although 2,453 new listings were added across the province in July, inventory continues to struggle to keep pace with buyer demand. By the end of the month, there were 4,792 residential properties listed for sale, but nearly 950 were already conditionally sold. That left just 3,858 active listings, representing only 2.33 months of housing supply—more than 50 per cent below Saskatchewan's long-term average for this time of year.

These ongoing supply shortages continue to influence home prices. While the provincial benchmark price dipped slightly from June's record high, it remained almost four per cent higher than July 2025, highlighting the continued strength of Saskatchewan's housing market.

Saskatoon Market Snapshot

The Saskatoon market remains one of the strongest in the province.

The city recorded 539 residential sales in July, down 11 per cent compared to the same month last year. However, sales were still 18 per cent higher than the city's 10-year average, showing that demand remains exceptionally strong.

New listings increased modestly throughout July, but they were not enough to significantly improve inventory levels. At the end of the month, Saskatoon had 928 residential properties available, including 244 homes that were already conditionally sold. That leaves just 684 active listings, or approximately 1.27 months of supply, heading into August.

Home prices have remained remarkably resilient despite a slight monthly adjustment. Saskatoon's benchmark home price was $447,600 in July, just below June's record of $448,400, while still sitting nearly four per cent higher than this time last year.

What This Means for Buyers and Sellers

Even though the market has cooled slightly from last year's record pace, conditions continue to favour sellers due to the ongoing shortage of available homes.

For buyers, preparation remains key. Getting pre-approved, acting quickly when the right property becomes available, and understanding local market conditions can make a significant difference in a competitive environment.

For sellers, limited inventory continues to create favourable conditions. Well-priced homes are attracting strong interest, and many properties continue to sell quickly.

As we move toward the fall market, inventory will remain the biggest factor to watch. If listing activity increases, buyers could see more choice in the months ahead. Until then, Saskatoon continues to experience one of the tightest housing markets in recent history, making knowledgeable local guidance more valuable than ever.

If you would like to know more about buying or selling in this market let’s talk!