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 Saskatoon Real Estate Market Update – May 2025 ???? Quick Snapshot ???? May 2025 Highlights

Location: Saskatoon, SK


 Market Type: Seller’s Market 544 homes sold (⬇️ 5% YoY, but ⬆️ 20% above 10-year average) $433,700 benchmark price –

New record high, up 9.2% YoY 903 new listings – ⬆️ 13% YoY 881 active listings, but only 555 truly available 1.62 months of supply – very tight inventory Homes selling above list price in many cases

Inventory Insights Despite a slight increase in listings, demand is outpacing supply. Inventory remains well below average: Month Active Listings YoY Change Months of Supply January 623 ↓ 14% 2.46 February 584 ↓ 22% 1.81 March 603 ↓ 25% 1.50 April 681 ↓ 21% 1.55 May 881 ↓ 3.6% 1.62

Over 30% of listings in May…

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Saskatoon Real Estate Market Update – May 2025

Saskatoon's housing market is holding strong into late spring, with prices climbing to new heights and inventory levels remaining tight. Here's a look at how things shaped up in May 2025:

 Home Prices Continue to Climb

The benchmark price in Saskatoon reached $485,900, marking an 8.2% increase year-over-year. This is up from $422,600 in April, showing sustained momentum in price growth as demand continues to outpace supply.

The median sale price came in at $522,500, with the average price sitting at $522,076, reflecting double-digit gains in both measures compared to May 2024 .

 Sales Slow Down

Sales activity saw a notable dip, with 239 properties sold, a 20% decrease compared to May 2024…

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As we wrap up 2024, the Saskatoon real estate market has shown impressive resilience, reflecting both challenges and opportunities for buyers and sellers. With inventory at historically low levels and demand staying strong, the landscape remains competitive and fast-paced. Whether you're thinking of selling or entering the market as a buyer, it's essential to understand the nuances of the current market conditions. Here’s an in-depth look at what’s happening and what both sellers and buyers need to know.

Saskatoon’s Market Conditions in 2024: A Snapshot

2024 has been a year of contrasts in the Saskatoon housing market. The city saw 5,035 total residential sales, an 8% increase compared to the previous year, and 12% higher than the 10-year average.…

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Strong Sales and Rising Prices Define September Market in Saskatoon
 

In September 2024, the Saskatoon real estate market showed positive growth, with a total of 432 sales, marking a 16% increase year-over-year and a notable 24% increase compared to the 10-year average. The city's residential benchmark price was $401,800, which represents a 6.5% rise from the previous year. However, despite the rise in sales, inventory levels were significantly low, with available listings down by 47.9% year-to-date compared to the 10-year average, resulting in constrained supply that has limited further potential growth in sales.

The number of new listings reached 654 in September 2024, reflecting a 14% increase from the previous…

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If you are like me, you want to take your pets everywhere!  Bird Realty has put together a list of pet friendly restaurants, Patios, stores & more that allow our furry friends.  


Restaurants:

-Beppi's Gelato

-Bus Stop Refreshments

-City Perks

-Calories

-Crossmount Cider 

-Cohen's Beer Republic

-High Key Brewing 

-Hudson's

-Homestead Icecream

-Honey Bun Cafe

-Junior's Cafe

-Leopold's Tavern

-Prairie Sun Brewery

-Stumbletown Distilling

-The Canadian Brewhouse 

-The Berry Barn

-Tj's Bar & Gill

-Odla

Popular Establishments

-Cabelas

-Dutch Growers

-Footlocker

-Home Sense

-Lowes

-Marshalls

-Michaels

-Peavey Mart

-Rona

-Urban Barn

-Wilson's 

-Winners

…

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Strong economic fundamentals will add to housing demand

In 2024, we foresee a robust economic landscape shaped by several key factors. A significant influx of international migration, coupled with substantial population growth, particularly within the 25-to-44 age group, is expected to put upward pressure on the economy. Also, the growth in high-income industries is projected to stimulate employment and average wage increases. Together, these positive economic indicators are anticipated to drive an increase in housing demand.

As prices and demand are expected to continue to climb, concerns over affordability in both the housing and rental markets are becoming more prevalent.

Overall, we predict Saskatoon to have a stable housing…

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Aluminum Wiring in Homes & What to Consider when Purchasing a Home

Many homes constructed in the 1960s and 1970s were built using aluminum wiring. It is more susceptible to being brittle, and a poorer conductor compared to copper. It may corrode over time if exposed to moisture causing it to expand and contract. That leads to the wires potentially loosening and overheating. All those factors may lead to a greater risk of fire. 

While homes with aluminum wiring are not necessarily unsafe, there are implications to property insurance that homeowners and potential home buyers should consider.  


Right now, please be aware that a limited number of insurers may not provide insurance on homes with aluminum wiring, regardless of its condition. Before…

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STRONG DETACHED SALES LEAD THE SEVENTH CONSECUTIVE MONTH OF ABOVE-AVERAGE SALES IN SASKATCHEWAN


As we kick off the new year, Saskatoon's real estate market is still going strong, showing off its resilience and energy. Stats are showing the housing market that's both steady and buzzing with activity.

Detached homes in Saskatoon

January sales increased by 22% compared to last year as we saw 150 detached sales in Saskatoon. There was 234 New listing, a decrease of 1% & making our total inventory down 19% as the total inventory was 433. Average Sale Price for Detached in January increased by 8% compared to last year with $447,278.

Semi-Detached homes in Saskatoon

For semi-detached homes in Saskatoon had an 150% increased in sales from…

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Saving for your first home just got a little easier. The First Home Savings Account (FHSA) offers a smart new way to save for your first home, on a tax-free basis.

What is the FHSA?

The FHSA combines the features of a Registered Retirement Savings Plan (RRSP) and a Tax-Free Savings Account (TFSA). It works like an RRSP when contributing and acts like a TFSA when making withdrawals. This means contributions are tax- deductible while qualifying withdrawals are non- taxable.

As a type of registered plan, you can hold investments in it to help reach your goal of owning a home faster. There’s no minimum balance required to open an account and you can hold a wide range of investment products.

The best part is that…

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Unlocking New opportunities with the Secondary Suite Grant

The Saskatchewan Secondary Suite Incentive (SSI) grant program is designed to improve housing affordability by generating supplementary income for homeowners and increase the availability of rental units in our communities. The grant program will provide 35% of the cost to build a new secondary suite at an owner’s primary residence, to a maximum grant of $35,000 per qualifying property.

A qualifying property is a new private, self-contained residential unit and includes basement suites, laneway homes, garden suites, and garage suites. The qualifying property must include a full kitchen and full bathroom and must meet all national, provincial and municipal bylaws, codes and standards. The…

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