Saskatchewan housing market still constrained by tight supply

Saskatchewan’s housing market remained under pressure by limited supply in February, even as sales activity settled closer to historical norms heading into the spring market.

The province recorded 825 home sales in February, down 16 per cent from a year earlier and two per cent below the 10-year average for the month. Despite the drop from the near-record pace seen in the past two years, sales through the first two months of 2026 remain consistent with long-term trends, according to the Saskatchewan Realtors Association (SRA).

Listings continue to fall

New listings declined seven per cent year over year and were 31 per cent below the 10-year average. Inventory remained tight, with 3,519 active units at the end of the month, including more than 700 properties that were conditionally sold and expected to leave the market, leaving 2,792 available across the province.

“Demand remains present across Saskatchewan,” said SRA CEO Chris Guérette, “but inventory constraints continue to shape what buyers and sellers can actually purchase or sell. Even with a modest rise in supply, we are still operating well below historic norms.”

Prices rise across the province

The residential benchmark price reached $363,800 in February, up from $359,500 in January and more than six per cent higher than a year earlier. All Saskatchewan communities reported year-over-year price gains, with increases as high as 13 per cent.

“As we move towards the spring market, the key factor to watch will be new listings,” said Guérette. “Some regions that have seen modest improvements in supply are also reporting stronger sales activity, which reinforces how sensitive our market can be to inventory levels. The opportunity for a healthier balance in 2026 depends largely on whether supply can respond to sustained demand.”