Many new housing units are needed in Prince Albert in the next decade. (Image Credit: File photo/paNOW)

By Susan McNeil

Real estate

Still growing but slowing; PA benchmark home price up 5% in February

Mar 8, 2026 | 7:01 AM

The benchmark price of homes in Prince Albert continues to grow, although the rate of growth dropped from the last reporting period.  

Numbers from the Saskatchewan Realtors Association last month show the benchmark price now sitting at $272,500, an increase of 4.9 per cent compared to same time last year. The rate of growth between February 2024 and February 2025 was 10.7 per cent.  

According to the SRA, while sales have declined in Saskatoon and Regina, the issue across the province is still a lack of supply and new inventory is not coming into play at a rate that would create relief for buyers.  

“Demand remains present across Saskatchewan,” said Association CEO, Chris Guérette. “But inventory constraints continue to shape what buyers and sellers can actually purchase or sell. Even with a modest rise in supply, we are still operating well below historic norms.”   

In Prince Albert for instance, in February 2025, there were 120 homes for sale, a 10 per cent drop from 2024. This year that number was 106 homes for sale. The number of sales in the month remained the same at 25 and new listings were also similar.  

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The city is aware of the lack of housing and commissioned a study that was presented to council last March that showed a lack of affordable housing for rent but also revealed a gap in homes for sale.  

The study revealed a current need for 1,470 affordable housing units and projects the city will need an additional 1,097 units at both market and affordable rates over the next decade.

Acting Director of Community Development, Michael Nelson said that the next step is to create a plan. 

“This plan will focus on practical steps to increase housing supply, including supporting new unit creation and leveraging additional available government funding and partnerships,” he said.  

The plan is expected to be in front of council this June.  

Another item that will come up at the next council meeting on March 16 is a pending offer on all of the city’s undeveloped lots in Crescent Acres.  

Should those be sold, the city will look at completing the preparation for a number of lots nearby. Council will be presented with options on that in the coming months as well.  

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susan.mcneil@pattisonmedia.com