Market Update

Saskatchewan Residential Real Estate Market sees little effect of COVID-19 in March.

April 3,  2020

Saskatoon - 

Sales in Saskatoon were up 6.2%, going from 258 in March 2019 to 274 in March 2020, and up 7.2% in the overall region, going from 346 to 371. In both Saskatoon and the region, sales were less than 2.0% under the 5-year average while they were more than 10% below the 10-year average. Year-to-Date (YTD) sales in Saskatoon rose 8.2% over last year, increasing from 668 to 723, while YTD sales in the larger region also increased 8.8%, going from 891 to 969.

Sales volume was up 16.9% in the city, going from $81.4M to $95.1M in 2020 (1.3% above the 5-year average). YTD sales volume in the city was $240.2M, an increase of 12.6% from last year. In the region, sales volume was up 16.2%, going from $105.9M to $123.1M (1.2% above the 5-year average). YTD sales volume also increased 11.3% in the region, rising from $274.6M in 2019 to $305.7M in 2020.

Although total sales and sales volume were up, the number of new listings in March 2020 fell significantly from the number last year. In Saskatoon, new listings fell 14.2%, going from 702 to 602 (over 17.0% below the 5- and 10-year averages), while in the region the situation was even worse, with new listings falling 19.5% from 1,037 last year to 835 this year. Active listings also fell 9.9% in Saskatoon (down from 1,611 to 1,452) and 7.8% in the region (down from 2,864 to 2,641).

The sales to listing ratio was 45.5% in Saskatoon and 44.4% in the region suggesting somewhat balanced market conditions in the area.

Homes in Saskatoon stayed on the market an average of 55 days in March—down a modest 3.5% from 57 days last year (but still slightly above the 5-year average of 54 days). Homes in the region stayed on the market somewhat longer than homes in the city at 66 days on average in 2020, but also down from an average of 68 days last year.

Average home prices in Saskatoon went from $316,737 to $347,189 (an increase of 9.6%) and were approximately 3.0% above the 5- and 10-year average price. The MLS® Home Price Index (HPI)—a more accurate measure of house price trends—is down 0.3% from $303,200 to $302,200. Average home prices in the region also increased 8.4%, going from $306,161 to $331,793, which is also approximately 3.0% above historical averages.

Prince Albert - 

Sales in Prince Albert were up 60.0%, going from 15 in March 2019 to 24 in March 2020, but down 5.4% in the overall region, going from 37 to 35. In Prince Albert, sales were 18.4% below the 5-year average and 35.0% below the 10-year average, while in the region overall, sales were 22.2% below their 5-year average. Year-to-Date (YTD) sales in Prince Albert rose 14.0% over last year, going from 50 to 57, while YTD sales in the larger region fell 6.3%, going from 95 to 89.

Sales volume was up 87.8% in the city, going from $2.6M to $5.0M in 2020 (24.6% below the 5-year average of $6.6M). YTD sales volume in the city was $11.6M, an increase of 19.8% from last year. In the region, sales volume was essentially unchanged, going from $7.1M in 2019 to $7.2M in 2020. YTD sales volume fell 5.3% in the region from $18.4M to $17.4M in 2020.

The number of new listings in Prince Albert fell 14.3%, going from 70 to 60 (over 13.0% below the 5- and 10-year averages), while in the region, the situation was slightly worse with new listings falling 19.4% from 134 last year to 108 this year. Active listings rose 1.1% in Prince Albert (up from 265 to 268) but fell 4.8% in the region (down from 626 to 596).

The sales to listing ratio was 40.0% in Prince Albert suggesting balanced market conditions, while a buyers’ market exists in the overall region with a sales to listing ratio of 32.4%.

Homes in Prince Albert stayed on the market an average of 68 days in March—down 34.6% from 104 days last year (and 29.2% below the 5-year average of 96 days). Homes in the region stayed on the market longer than homes in the city at 96 days on average in 2020 (down from 137 last year), which is 18.8% below the 5-year average of 118 days.

Average home prices in Prince Albert increased 17.4%, going from $176,493 to $207,152, but were approximately 4.6% below the 5-year average price. Average home prices in the region also increased 6.2%, going from $192,957 to $204,976, which is also approximately 5.3% below the 5-year average price of $216,344.

North Battleford - 

Sales in North Battleford were up a whopping 181.8%, going from 11 last year to 31 this year, and up 109.5% in the overall region, going from 21 to 44. In both North Battleford and the region, sales were more than 28.0% above the 5-year average while they were more than 16.0% above the 10-year average. Year-to-Date (YTD) sales in North Battleford rose 62.5% over last year, going from 32 to 52, while YTD sales in the larger region also increased 45.5%, going from 55 to 80.

Sales volume was up 205.1% in the city, going from $1.7M to $5.0 in 2020 which is 11.2% above the 5-year average sales volume, but 4.2% less than the 10-year average. YTD sales volume in the city was $8.0M, a 29.6% increase from $4.5M last year. In the region, sales volume was up 174.3% going from $3.0M to $8.1M (21.6% above the 5-year average). YTD sales volume also increased 61.5% in the region, rising from $9.2M in 2019 to $14.8M in 2020.

Although total sales and sales volume were up, the number of new listings fell in both the city and the region as a whole. North Battleford saw new listings fall 18.3%, going from 60 to 49 (over 23.0% below the 5-year average), while in the region, new listings fell 22.8% from 101 last year to 78 this year. The number of active listings increased, however, going from 118 to 139 in North Battleford and 545 to 590 in the region.

The sales to listing ratio was 63.3% in North Battleford suggesting a sellers’ market in the city, while the ratio was 56.4% in the region suggesting more balanced market conditions.


Homes in North Battleford stayed on the market an average of 146 days in March—up a significant 80.2% from 81 days last year (and over 83.0% from the 5- and 10-year averages). Homes in the region were off the market more quickly at an average of 140 days (compared with 142 last year).

Average home prices in North Battleford went from $150,400 to $162,829 (an increase of 8.3%) but were over 18.5% below their 5- and 10-year averages. Average home prices in the region also increased 30.9%, going from $140,633 to $184,141 which is also approximately 3.5% below the 5-year average.

Jason Yochim, Chief Executive Officer

Saskatchewan REALTORS® Association

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