Sask. housing market sees strong start in 2025

A for sale sign is seen in Regina in this undated file image. (David Prisciak/CTV News)

Sales of homes across Saskatchewan are off to a strong start to begin the year, with Regina coming off a record-breaking sales year and Saskatoon marking its second-strongest January on record.

According to a report from the Saskatchewan Realtors Association (SRA), year-over-year housing sales were up one per cent in January and over 17 per cent above 10-year averages.

“Significant demand and persistent inventory challenges continue to drive price gains throughout the province, with all areas of the province reporting year-over-year price gains in January,” the SRA said in a news release.

There were 782 sales across Saskatchewan in January, which shows the 19th consecutive month of above-average sales in the province, the report said.

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In Saskatoon, 253 home sales were recorded in January, which is a year-over-year increase of three per cent and the second-strongest January on record.

The benchmark price in Saskatoon reached $403,400 in January, a seven per cent jump since January of 2024 and two per cent higher than last month.

“Despite a surge in new listings, Saskatoon’s months of supply remains under 2.5 months, with inventory levels down 15 per cent year-over-year and over 50 per cent below long-term trends. Notably, less than 450 of the 618 available units at month’s end were not already conditionally sold,” the SRA said.

Regina’s housing market is also off to a strong start in 2025, building off the momentum of a record-breaking sales year in 2024.

• Regina saw a record number home sales in 2024, report says

While the Queen City saw a four per cent drop in year-over-year sales in January, with 172 home sales recorded last month, that number is still 17 per cent above long-term, 10-year trends.

The residential benchmark price of a home in Regina rose to $316,300 in January, up from $313,400 in December and a five per cent jump from the same month last year.

The SRA says inventory levels in the City of Regina are also well below historical averages.

“There were 279 new listings across the Queen City in January, down 10 percent year-over-year and nearly 22 percent below historical averages. As a result, inventory levels remain nearly 50 percent below the 10-year average”.

In Regina, there were 537 units available on the market at the end of January, down almost 225 units from the same time period in 2024.