06/19/2026
Ever wonder why it feels like absolutely nobody is selling their house in Saskatoon right now?
If you’re out there trying to buy, I know how frustrating it is. The listings page is basically a ghost town. We’re sitting at just 1.1 months of inventory, which means there are only about 560 truly active houses for sale in the entire city. That squeeze is exactly why our benchmark price just hit a new record of $444,400.
So, where did all the houses go? It really comes down to a quiet trap created by everyday mortgage math:
The "Upgrade Gap": A lot of people locked into those crazy low 2.44% rates back in 2021. Those terms are expiring now, and even though they have to face higher rates whether they stay or move, upgrading to a bigger home means moving today's high rates onto a much larger loan. The monthly payment jump is just too steep, so families are staying put.
The 7% Stress Test: Back in 2021, qualifying for a mortgage was easier. Today, because banks test you at your "contract rate plus 2%", you have to prove you can handle a 6.5% to 7% payment. Toss in higher grocery bills and credit card debt, and a lot of families simply don't qualify to move anymore. Signing the bank's straight renewal paperwork is just the path of least resistance.
I track our local data every single week, and the ripple effect of this inventory freeze is wild. Just look at the stats from my chart below:
👉 59.41% of all June sales closed at or over asking.
👉 72.15% of homes in the $500k–$600k range sold over asking in the last 30 days.
👉 83.33% of homes in the $800k–$900k bracket went over asking.
👉 43.54% of listings are using a formal presentation of offers date just to handle the crowd.
One quick heads-up if you are thinking of selling: Don't assume this market is an automatic slam dunk. Because buyers are stretched to their absolute limits financially, we are seeing a massive spike in deals crashing. I’m frequently seeing it take 2 or 3 accepted offers before a house actually makes it safely across the finish line.
I just put together a full breakdown on my blog analyzing this exact math, the historic rate charts, and what it all means for your property value or your next renewal.
👇 I’ll leave the direct link pinned in the very first comment below if you want to check it out.
Are you facing a renewal this year, or trying to navigate these bidding wars as a buyer? Let me know what you're seeing out there.