Saskatchewan home prices rise as housing inventory remains tight

The Saskatchewan Realtors Association reports the residential benchmark price is $374,100, about six percent higher than a year earlier; Regina’s benchmark reached a record $343,700 in March, and Regina and Saskatoon each have roughly 1.6 months of supply.

Home prices across Saskatchewan are rising as a shortage of available properties continues to put pressure on buyers. The Saskatchewan Realtors Association reports the residential benchmark price is $374,100, up from $363,800 in February and more than six percent higher than a year earlier. Realtors say demand is outpacing supply across the province, which is pushing prices upward. The trend is especially visible in cities such as Regina, where the benchmark price reached a record $343,700 in March. Key details: - Residential benchmark price is reported at $374,100, up from $363,800 in February and more than six percent higher than a year earlier. - Regina’s benchmark reached a record $343,700 in March, up from $336,400 in February and over six percent higher year over year. - Regina and Saskatoon each have about 1.6 months of supply, meaning listings are limited relative to demand. - The Saskatchewan Realtors Association tracks 18 regions and reports year-over-year price increases in every region. - Local realtors report fewer showings, increased competition, multiple-offer situations, and some homes selling above asking price. Summary: Tight listings are contributing to faster sales and upward pressure on prices across the province. Realtors say more listings or new construction would affect market balance, but whether inventory will increase enough to ease price pressure is undetermined at this time.