If you tried to book a showing on a Friday this winter and found out it was already conditionally sold, that's not bad timing. That's just what this market does right now.
Here's what the February numbers actually say, and what they mean depending on where you're at.
The Inventory Looks Fine Until You Look Closer
At the end of February, Saskatoon had 614 units on the market. That sounds like a reasonable pool. But 164 of those were already conditionally sold — just waiting on paperwork. Which means the real active inventory was closer to 450.
Only 370 new listings came to market that month. That's 27% fewer than the same time last year, and it leaves very little room for buyers to be choosy.
Saskatchewan continues to have some of the tightest conditions in the province. The Saskatchewan Realtors Association noted in their monthly report that the drop in sales was matched almost exactly by a drop in new listings — which means the shortage didn't loosen up at all heading into the month.
Fewer Sales Doesn't Mean Prices Are Dropping
February saw 277 sales. That's down 15.6% from last year and about 2% below the 10-year average. Normally, fewer sales point toward price softening.
Not here.
"The benchmark price hit $421,600 in February — up 4.7% year over year and up from $417,800 just the month before. When there are fewer homes to choose from, the ones that do come up get more attention and more competing offers."
That's what pushes prices up even when total sales slow down. The math is simple: demand stays steady, supply shrinks, prices rise.
Semi-Detached Homes Are Outpricing Detached — Here's Why That Makes Sense
This one trips people up at first glance.
A semi costs more than a detached? It seems backwards. But it makes sense once you look at what's being compared. That's a 33-year gap in average build year. Newer construction, better energy efficiency, updated finishes — those things carry a premium.
If you're trying to make sense of pricing in a specific neighbourhood, the age and condition of the housing stock is the most important variable to understand.
Homes Are Moving Faster Than They Have in Years
The average days on market in February was 41. The 10-year average is 51. That's 19% faster, and it reflects the same thing the inventory numbers are showing — fewer homes available means the ones that are priced well don't sit.
Months of supply came in at 2.27. That's 23.9% higher than last year's historic lows, which might sound like things are loosening up. But it's still 55.4% below the 10-year average of 5.08 months. To get back to what would be considered a historically normal market, inventory would need to roughly double from where it sits today.
The $300K to $399K Range Is Where the Pressure Is Highest
The $300,000 to $399,999 price range has led total transactions in Saskatoon for 2026, and it's also where supply is tightest. That's the range most buyers are shopping in, and right now it has the least available inventory relative to demand.
Worth noting: the year started strong. January and February combined came in at 508 sales — 4% above the 10-year average. February on its own was softer than last year, but the issue isn't buyer demand slowing down. It's available homes.
What This Means for You
Selection is limited and homes are moving quickly. Getting pre-approved and being ready to act matters more than waiting for conditions to improve. Waiting for a "better" market could mean waiting for a while.
Low inventory, rising prices, and fast sale times are all working in your favour right now. Pricing your home well from day one is still the right move, even in a seller-friendly market — a well-priced home attracts more offers, not fewer.
The supply shortage isn't a short-term story. Benchmark prices have been climbing steadily, and the $300K to $460K range continues to be where most transactions happen — which is also where rental demand remains strong.
Looking Ahead
The bigger question heading into spring isn't whether prices will hold. With inventory this low, they very likely will. The real question is whether new listings will come to market in enough volume to give buyers some breathing room — or whether we continue to see tight supply and competitive conditions through the warmer months.
Either way, the data is here to help you make a good decision for your situation. If you want to talk through what any of these numbers mean for your plans — buying, selling, or just keeping tabs on the market — I'm always happy to chat.
