Saskatoon Real Estate Market Update – January 2025

Saskatoon’s housing market is kicking off 2025 with a BANG! Buyers are scrambling to secure homes before spring, inventory is at record lows, and prices are climbing. So, should you buy now, wait, or sell? In this deep dive, we’ll break down sales trends, inventory challenges, and pricing shifts—and what they mean for YOU.

📌 Why This Market Update Matters

Understanding the latest market trends is essential whether you're buying, selling, or investing in Saskatoon real estate. Market conditions are shifting, and staying informed can mean the difference between securing a great deal and missing an opportunity.

If you’re a buyer, you’ll learn why waiting could cost you. Sellers, you’ll see how low inventory puts you in a strong negotiating position. And for investors, we’ll explore why Saskatoon remains a prime opportunity for real estate growth. Whether you’re a buyer looking for the right opportunity, a seller wondering if now is the time to list, or an investor evaluating market trends, understanding real-time market data is critical for making informed decisions.

📊 Sales Summary – A Busy January for Buyers

253 homes were sold in January, marking a 3% increase year-over-year, making it the second-strongest January on record. This level of activity is unusual for winter, when sales typically slow. So, why is demand so high?

What’s Driving Buyer Demand?

✔️ Interest rates have dropped slightly, making mortgages more affordable.

✔️ Buyers don’t want to wait until spring, when competition is expected to surge.

✔️ Fear of rising prices is pushing buyers to lock in homes before they become more expensive.

📌 Quote from a Mortgage Expert: “With interest rates stabilizing, we’re seeing a significant uptick in mortgage applications, especially from first-time buyers looking to secure a home before the market heats up in spring.” – Sarah Mitchell, Mortgage Specialist at SaskFinance

Sales Breakdown by Property Type:

• Detached Homes: 148 sold (-1% YoY)

• Townhouses: 59 sold (+18% YoY)

• Semi-Detached Homes: 44 sold (-18% YoY)

• Apartments: 38 sold (+46% YoY) 

If you’re house hunting, be prepared to act fast. Many homes are receiving multiple offers, and waiting too long could mean missing out on your dream home.

🏡 Inventory Crisis – Why Are There So Few Homes?

There were only 618 homes available by the end of January. But here’s the real shocker—less than 450 weren’t already conditionally sold! That means buyers have fewer choices than ever.

Why Is Inventory So Low?

✔️ Sellers are waiting until spring, thinking they’ll get a better price.

✔️ New listings are being snatched up quickly. Despite 451 new listings (+24% YoY), demand is outpacing supply.

✔️ Many homeowners refinanced at low rates in recent years and don’t want to trade up to a higher rate.

📌 Quote from a Real Estate Analyst: “Saskatoon’s housing market is experiencing a classic supply-demand imbalance. Low inventory paired with high buyer activity is pushing prices up, making it a prime opportunity for sellers.” – James Reynolds, Senior Analyst at Prairie Realty Insights

If you’re considering selling, this is your moment. With so little competition, your home stands out more—and buyers are paying top dollar.

📈 Pricing Picture – Where Are Prices Headed?

Home prices are rising, and they’re likely to continue increasing.

• Benchmark Price (January 2025): $403,400 

  • Up 7% from January 2024

  • Up from $395,300 in December

📌 Expert Insight: “With inventory so low and demand still strong, we can expect gradual price appreciation throughout the first half of the year.” – David Thompson, Chief Economist at Canadian Housing Report

Average Prices by Property Type:

• Detached: $463,900

• Semi-Detached: $503,200

• Townhouse: $334,600

• Apartment: $242,100

📢 What does this mean for you?

✅ Buyers: The longer you wait, the more you’ll pay. Buying now means locking in today’s prices before they go higher.

✅ Sellers: The low inventory means your home could sell for more than expected—especially before more listings flood the market in spring.

With strong rental demand and rising home values, Saskatoon remains a great market for real estate investors looking for long-term appreciation.

🚀 What’s Next? – Key Takeaways & Action Plan

Saskatoon’s housing market is HOT, and both buyers and sellers need to be strategic.

🏡 Buyers:

✅ Be pre-approved and ready to make competitive offers.

✅ Work with an agent who can get you into exclusive off-market deals.

✅ Don’t wait until spring—competition is only going to increase.

💰 Sellers:

✅ Take advantage of low inventory and high demand—this is your time to sell.

✅ Pricing strategically can lead to faster sales and multiple offers.

✅ Spring competition could mean more options for buyers—list now while you have leverage!

With market conditions favoring sellers, now is an excellent time to maximize your return. But if you're a buyer, acting quickly with a strong strategy is key to securing the right home.

📣 Want More Personalized Market Insights? Let’s Chat!

Thinking about buying or selling? Let’s create a strategy to help you get the best deal, whether you're looking to buy or cash in.

📩 DM me “Market Report” for a detailed breakdown of your neighborhood.

📲 Call/text me at 306-370-6179 to discuss your real estate goals.