In a stark contrast to cooling markets elsewhere in Canada, Saskatchewan's real estate sector experienced a torrent of demand throughout 2025, culminating in a fiercely competitive landscape where bidding wars have become the norm. According to the Saskatchewan Realtors Association (SRA), the province's housing market demonstrated remarkable strength and resilience, supported by robust job creation and significant population growth.
A Market Defying National Trends
While major cities like Vancouver, Toronto, and Calgary reported slumping sales and declining prices, Saskatchewan recorded one of the strongest performances in its history. Chris Guérette, Chief Executive of the SRA, emphasized that the province outperformed many parts of the country, calling 2025 an exceptional year. The SRA's report pegged the average home price in Saskatchewan at $359,000 in December, with 17 of the 18 regions tracked seeing year-over-year price increases.
The sustained demand was evident even in typically slower periods. December, usually a quiet month for home buying, saw continued confidence, tight supply, and active sales. In total, approximately 5,100 homes sold in Saskatoon and nearly 3,900 properties changed hands in Regina over the course of the year.
Economic and Demographic Fuel
The red-hot market is directly linked to Saskatchewan's thriving economy. The provincial economy expanded by 3.1% in 2024, with growth estimated around 2% for 2025, according to the Saskatchewan Chamber of Commerce. This growth attracted billions in private capital investment and created a fertile ground for employment.
Population growth further stoked the fires of demand. Saskatchewan's population grew to 1.26 million in 2025, with over 19,000 people moving to the province between January and July alone. While interprovincial migration slowed, international immigration and natural growth sustained the upward trend. Realtors like Brittany Chan of Boyes Group Realty Inc. in Saskatoon note that people are relocating from pricier markets like Toronto and Vancouver, seeking affordability and job opportunities.
Challenges for Buyers and the Supply Question
For potential home buyers, this perfect storm of factors has created significant challenges. The high demand colliding with relatively few available homes has made bidding wars a common reality. Buyers are navigating a highly competitive environment where multiple offers on a single property are frequent.
Looking ahead, the central question for 2026 is whether the supply of homes can catch up to the relentless demand. Guérette acknowledged the market has had a hard time keeping up, and whether new construction and listings can alleviate the pressure remains to be seen. The province's housing market, bolstered by a favourable interest rate environment and employment gains, shows no immediate signs of a cooldown, setting the stage for another dynamic year in Prairie real estate.
