Saskatoon home prices hit new record with supply at historic lows [Video]

Home prices in Saskatoon continue to hit new records due to strong demand and low inventory levels, according to the latest report from the Saskatchewan Realtors Association (SRA).

The City of Saskatoon reported a record benchmark price of $404,900 in August, a year-over-year jump of more than eight per cent. And that’s even with the number of sales decreasing compared to the previous year.

Saskatoon saw 457 home sales in August, which was 13 per cent lower than the same month in 2023, but still 14 per cent above the 10-year average.

“Limited supply options continue to prevent stronger sales figures in Saskatoon, as inventory levels remain over 48 per cent below long-term trends. While a monthly gain in new listings did support modest inventory relief, Saskatoon continues to report the tightest market conditions in the province,” the SRA said in a news release.

• Get the CTV News app for …