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The Saskatchewan Realtors® Association has just published their most recent (August 2023) Sask Residential Market update for the province. This gives a look at how the 2023 summer market is progressing and they are reporting that:


Saskatchewan reported a record-high 1,631 sales in August, a year-over-year increase of 11 per cent and nearly 25 per cent above long-term, 10-year averages.

Strong August sales were met with a pullback in new listings, contributing to a decrease in inventory levels for the month. As seen in prior months, the inventory decline was largely driven by homes priced below $400,000, as the more affordable segment of the market remains highly competitive.

“Saskatchewan is once again reporting strong sales despite ongoing inventory challenges, inflationary pressures and higher lending rates,” said Association CEO, Chris Guérette. “Higher interest rates are pushing more purchasers to seek out more affordable options in the market, and, as a result, we continue to experience significant supply challenges in the lower price ranges of our market. These persistent supply challenges are likely preventing even stronger sales activity in August.”

Record sales and low inventories caused the provincial months of supply to drop below four months – below three months in Regina and below two in Saskatoon – reflecting the tightest market conditions seen heading into September since 2007. Despite tighter market conditions, Saskatchewan’s benchmark price eased slightly in August, primarily due to declines in the more expensive detached and semi-detached markets. Notwithstanding price adjustments following months of steady growth, prices remain comparable to levels reported last year.

“Our province continues to benefit from its affordability advantage, record population growth and gains in international migration. Unfortunately, when housing supply fails to meet the increased demand, as seen in other jurisdictions across the country, inventory challenges become a real concern and affordability can be eroded,” said Guérette. “We continue to keep a very close eye on inventory levels, specifically in the more affordable segment of our market.”

Check out the image gallery below to see some key information in this market update. Details on the 2023 Summer statistics from each local region across the province can also be found in the full media release from the SRA in the news section of their website by clicking here.

Local regions covered by this Sask residential market update include:

  • Saskatoon and Region (including Martensville, Warman, and Humboldt)
  • Regina and Region
  • Melfort and Region
  • Moose Jaw and Region
  • North Battleford and Region (including Meadow Lake)
  • Prince Albert and Region
  • Swift Current and Region
  • Yorkton and Region (including Melville)
  • South East Saskatchewan and Region (including Estevan and Weyburn)

If you have questions or concerns about needing to buy a property right now or about real estate you own… Feel free to reach out to us. We are here to give you service and advice. Initial consultations are always free.

Post Author: flatlands_admin