JANUARY 2025 | REAL ESTATE OVERVIEW

MORRISON 87 REALTY ’s Monthly Real Estate Brief - Your Essential Guide to All Things Real Estate:

Saskatchewan's housing market kicked off 2025 with a strong performance, recording 782 sales in January, up 1% from last year and 17% higher than the long-term average. January marks the 19th straight month of above-average sales since June 2023.

New listings were 2% lower than in January 2024 and almost 28% below the 10-year average. Persistent demand and fewer listings led to tight market conditions, with inventory levels dropping 19% year-over-year and over 44% below the 10-year norm. Almost 18% of listings had conditional sale agreements at the end of the month, further slimming the already minimal properties available.

Home prices remain on the rise, with Saskatchewan's benchmark price reaching $342,600 in January, 7% higher than last year. Association CEO Chris Guérette highlighted the ongoing impact of low supply on price growth.

Trends

Prince Albert Region: 93 sales, down 6% from last year but 6.7% higher than the 10-year average. The benchmark price rose to $251,000, a 7.4% year-over-year increase.

Saskatoon: With 253 sales, Saskatoon saw a 3% increase since last year. The benchmark price hit $403,400, up 7%, while inventory was 15% lower than in January 2024.

Demand continues to exceed supply, driving both sales and prices higher across the province.

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https://mlssask.ca/market-watch-january-2025/