Real Estate Blog

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. While the slower pace may suggest a cooling trend, it's important to consider this in the context of reduced inventory and ongoing affordability challenges.

 Fewer Listings, More Competition

New listings also dropped, down 16% year-over-year to 372. Meanwhile, total inventory declined by 23%, leaving just 412 active listings on the market at the end of the month.

With such limited supply, the sales-to-new listings ratio (S/NL) rose to 0.64, and months of supply sat at just 1.72 — firmly keeping the market in sellers’ territory.

⏱️ Fast Sales and Strong Returns

Homes in Saskatoon sold quickly in May, with a median days on market (DOM) of 28 days. Sellers received, on average, 102.7% of their list price, indicating a competitive environment where bidding wars are not uncommon.

What It Means for You

• Buyers: Expect tight competition and quick sales. Getting pre-approved and acting fast are critical.

• Sellers: The market remains in your favor — low inventory and rising prices make this a strong time to list.

• Investors: With benchmark prices steadily rising and supply still squeezed, there’s a clear opportunity in Saskatoon’s appreciating market.

As we move into the summer months, it will be crucial to watch if inventory rebounds or if the market remains undersupplied, further driving prices.

For more information, Contact Jill Bird @ 306-221-1350 or Cam Bird @ 306-221-0654