Saskatoon Real Estate Market Update – September 2025

Trends, Forecasts & What Buyers and Sellers Need to Know

By Jack Bouvier, Bouvier Real Estate Group at eXp Realty

Introduction: Saskatoon’s Market Keeps Defying Expectations

While many Canadian cities are seeing signs of cooling, Saskatoon’s real estate market continues to hold strong. Prices remain steady, demand is high, and inventory levels are still tight heading into the fall season.

In this month’s update, I’ll break down the latest market data, uncover key trends driving demand, and share actionable strategies for buyers, sellers, and investors navigating this dynamic Saskatoon market.

“Saskatchewan remains one of the most balanced housing markets in the country — where affordability, job growth, and population gains continue to fuel steady housing demand.”
— Saskatchewan REALTORS® Association, September 2025 Market Report

1. Saskatoon by the Numbers – September 2025 Snapshot

According to the latest data from the Saskatchewan REALTORS® Association and SRHBA:

• Benchmark price: ~$435,900 (↑ 9% year-over-year)
  
  
• Average sale price (all property types): ~$420,000
  
  
• Sales-to-new-listings ratio: ~71% (still a seller’s market)
  
  
• Active listings: Down 5% YoY
  
  
• Average days on market: ~30 days
  
  
• Months of inventory: 2.5 months — a balanced but tightening environment
  
  

Market Direction

While the pace of appreciation has slowed slightly compared to 2022–2024, the underlying fundamentals remain strong. Saskatoon’s affordability relative to other Canadian cities continues to attract both local and out-of-province buyers.

2. Market Drivers: Why Saskatoon Is Still Growing

Immigration & Population Growth

Saskatoon continues to experience record immigration inflows, driven by employment opportunities and cost-of-living advantages.
In fact, over 30,000 new residents moved to Saskatchewan in the last year, with Saskatoon absorbing the majority.

Economic Stability

The provincial economy remains robust — supported by strength in manufacturing, agriculture, mining, and emerging tech.
Saskatchewan is projected to post one of the top 3 GDP growth rates among Canadian provinces for 2025.

Tight Supply, Strong Demand

New construction is rising, yet demand still outpaces supply.

• 2,600+ purpose-built rentals are under development.
  
  
• Single-family new home sales are up 10.4% year-over-year.
  (Source: SRHBA Market Outlook 2025)
  
  

“Saskatoon remains one of the most affordable and fundamentally strong markets in Western Canada.”
— CMHC Housing Market Outlook 2025

3. Trends to Watch This Fall

1. Detached Homes Still Lead the Pack

Single-family homes continue to be the most competitive segment, especially under the $500K mark. These listings often attract multiple offers within the first week.

2. Condos and Townhomes Regaining Momentum

With rising detached prices, buyers are shifting focus to more affordable attached properties, particularly in Stonebridge and Evergreen.

3. Rental Market Strength

Vacancy rates remain below 3%.
This continues to attract investors seeking stable cash flow and long-term appreciation potential.

4. Fewer Bidding Wars, More Negotiation Room

Buyers now have a little more breathing room — especially in higher price ranges. Strategic sellers are pricing more realistically to meet the market.

4. Forecast: What’s Coming Next (Q4 2025 and Beyond)

Prices

Expect modest 1–2% growth through year-end as the market cools seasonally, with sustained upward momentum projected for spring 2026.

Inventory

Builders are working to meet demand, but construction timelines and land availability remain constraints.
We’ll likely see supply relief by mid-2026.

Interest Rates

Experts anticipate rate stability through late 2025, with possible reductions in early 2026 — a move that could reignite demand from sidelined buyers.

“When interest rates begin to ease, markets like Saskatoon will be first to see activity surge.”
— Royal Bank Economic Outlook, 2025

5. Advice for Buyers

✅ Get Pre-Approved and Be Ready to Act

Homes under $550K sell fast. A pre-approval not only gives you confidence but also strengthens your negotiating position.

✅ Look Beyond Resale

New construction in neighborhoods like Rosewood, Brighton, and Aspen Ridge can offer added value with incentives such as landscaping packages, finished basements, or appliance credits.

✅ Watch for Opportunities in the $500–$700K Range

This segment is seeing slightly longer days on market — creating negotiation potential for buyers who can move quickly.

✅ Focus on Long-Term Value

Even if short-term appreciation slows, Saskatoon remains one of the best-balanced investment markets in Canada for 5–10 year growth.

6. Advice for Sellers

✅ Price Smart, Not High

Overpricing can cause your listing to go stale. Pricing just below market value creates buzz and often drives multiple offers.

✅ Presentation is Everything

High-quality photography, video, and staging can increase showings and offers by up to 40% (source: NAR Home Marketing Study, 2024).

✅ Leverage Fall Timing

Autumn buyers are motivated. With inventory still limited, listing now could mean a faster sale and less competition compared to the spring rush.

✅ Be Offer-Ready

Buyers are more cautious and will include financing or inspection conditions. Being flexible and proactive helps keep deals together.

7. Investor Insights

🔹 Multifamily Remains Hot

Cap rates around 5–6% and sub-3% vacancy rates continue to draw investors into small-to-mid-scale multifamily buildings.

🔹 Neighborhoods to Watch

Areas like Caswell Hill, Westmount, and Hampton Village are offering solid rent-to-price ratios with long-term upside potential.

🔹 Consider Joint Ventures

With strong fundamentals and limited supply, joint venture partnerships are becoming a powerful way to scale portfolios while sharing risk.

8. The Big Takeaway

• Saskatoon remains a top-performing market in 2025 — stable, growing, and well-positioned for long-term gains.
  
  
• Sellers still have the upper hand, but pricing precision and presentation matter more than ever.
  
  
• Buyers and investors should act strategically, focusing on long-term value over short-term emotion.
  
  

Conclusion: Local Insight Matters More Than Ever

Markets change — but opportunity never disappears.
If you’re planning to buy, sell, or invest this fall, the key is to act on the data, not the headlines.
With immigration growth, steady employment, and affordability on our side, Saskatoon remains one of the strongest housing markets in Canada.

Let’s create a game plan that fits your goals — whether you’re looking to find your dream home, cash out at the top, or grow your investment portfolio.


Jack Bouvier
REALTOR® | Bouvier Real Estate Group at eXp Realty
📞 306-370-6179
🌐 bouvierrealestate.com
📧 jack@bouvierrealestate.com
📺 YouTube – Bouvier Real Estate Group