Residential benchmark price, Saskatoon
$439,600As of September 2026.Source
Residential benchmark price, Saskatoon
$444,700As of August 2026.Source
Residential sales, Saskatoon
384 (down 10% from a year earlier)As of September 2026.Source
Months of supply entering October, Saskatoon
2.13As of September 2026.Source
Population of the City of Saskatoon
266,141As of 2021 Census.Source
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Saskatoon sits near the top of Saskatchewan’s price range, and its 2021 population of 266,141 makes it the province’s largest city by this measure. For an owner thinking about a second mortgage, the useful number is not the price, it is how a lender’s ceiling moves with it.

Saskatoon’s benchmark and your equity

The Saskatchewan REALTORS Association, through CREA, put Saskatoon’s residential benchmark at $439,600 in September 2026, up nearly 3% from September 2025 and down from $444,700 in August. There were 384 residential sales that month, down 10% from a year earlier, though over 8% above long-term trends. Available units at month end were 1,053, with 236 conditionally sold and 2.13 months of supply.

The association did not publish an average sale price for Saskatoon in that release, so we use the benchmark, which tracks a typical home rather than the mix of sales.

Why $139,600 of equity does not fit a $60,000 loan

Equity is value minus what you owe, and a second mortgage lender works from a ceiling. By the Financial Consumer Agency of Canada’s measure, a second mortgage tops out at 80% of appraised value, net of the mortgage balance. With a $300,000 first mortgage on a $439,600 home, equity is $139,600 and room is $51,680, which is why a $60,000 loan does not fit.

The second example above shows the other half of the story: the ceiling moves with prices. Use the calculator to see where your own numbers fall.

No land transfer tax, but registry fees

Saskatchewan does not charge a traditional land transfer tax. Information Services Corporation instead charges a title transfer fee of 0.4% of the property value, which would be $1,758.40 on a purchase at $439,600, and a mortgage registration fee that depends on loan size. For fees effective April 15, 2026 the guide we read lists $200 for a mortgage below $250,000 and $275 from $250,000 to $500,000.

A $60,000 second mortgage therefore costs $200 to register, and the title fee is not charged because you are not buying. Legal, lender and broker fees are separate. The Saskatchewan page sets them out.

A tighter market than the national picture

With 2.13 months of supply, Saskatoon is not oversupplied. That helps a lender’s comfort about resale. It does not make your appraisal higher, and the benchmark’s August to September slip shows prices can still move. Keep your property tax bill, mortgage statement and a list of debts ready, because a lender will ask for all three.

What Saskatoon owners ask about

Owners wanting cash for a renovation read the renovation page, where the main issue is whether the work adds value or only spends equity. Owners who want to rework the first mortgage look at refinancing to take equity out, which can cost less than a second charge. Owners using the money for a business read the business purpose page, because lenders may price those loans differently.

Saskatchewan’s other large market is covered on the Regina page. Prairie neighbours are on the Winnipeg and Brandon pages.

What the September numbers add

Beyond the benchmark, the Saskatchewan REALTORS Association reported that new listings in Saskatoon were up more than 6% from a year earlier, the second straight monthly gain. At month end 1,053 units were available and 236 were conditionally sold, leaving 817 active. The benchmark was up nearly 3% on September 2025, so the one-month slip from August sits inside a year of modest gains.

For a borrower, the practical point is cost against size. The registry fee barely changes with loan size, since a mortgage between $250,000 and $500,000 is $275 against $200 below that line, so the costs that matter most are the lender and broker fees, which are usually a share of the loan. A small loan with a large fixed fee can cost a high percentage of what you receive. Ask for the total cost of borrowing in dollars, set against the money you actually get in hand.

Regulator first, then a lender comparison

Saskatchewan’s regulator of licensed mortgage professionals is the Financial and Consumer Affairs Authority, and a licensed professional can compare lenders for you. Check the licence before you share documents. To get a review of your Saskatoon numbers, open your options.

A Saskatoon home at the September 2026 benchmark, with a $60,000 loan

The $439,600 value is the September 2026 Saskatoon residential benchmark price, used as a stand-in for an appraised value. The $300,000 first mortgage and $60,000 new loan are made up. The 80% ceiling is the one the Financial Consumer Agency of Canada gives for a second mortgage.

Home value used
$439,600
Equity before the new loan
$139,600

$439,600 minus $300,000

80% of the home value
$351,680

$439,600 x 0.80

Combined loan-to-value with a $60,000 loan
81.9%

$360,000 divided by $439,600

Amount over the 80% ceiling
$8,320

$360,000 minus $351,680

Room under an 80% ceiling before the loan
$51,680

Equity of $139,600 sounds like plenty, but the ceiling leaves $51,680, so a $60,000 loan is $8,320 too big. A lender may offer less than you asked for.

Illustration only. The figures are made up to show the arithmetic. They are not a quote, a rate or an offer.

One month of softening: Saskatoon August to September 2026

The August ($444,700) and September ($439,600) values are the Saskatoon residential benchmark prices from the Saskatchewan REALTORS Association. A benchmark is not a sale price. The $300,000 first mortgage is made up.

80% ceiling at the August benchmark
$355,760

$444,700 x 0.80

80% ceiling at the September benchmark
$351,680

$439,600 x 0.80

Room in August on a $300,000 first mortgage
$55,760

$355,760 minus $300,000

Room in September on the same mortgage
$51,680

$351,680 minus $300,000

Room lost in one month
$4,080

A price slip of about 1.1% cost this owner $4,080 of room. If you plan a loan close to the ceiling, a few weeks of waiting can change the answer in either direction.

Illustration only. The figures are made up to show the arithmetic. They are not a quote, a rate or an offer.

Questions people ask

My Saskatoon borrowing room shrank though my mortgage did not change. Why?

Lenders cap the total loan at a share of value. When the benchmark slipped from $444,700 in August 2026 to $439,600 in September, an 80% ceiling fell by about $4,080 on the same home. Your balance did not move, but the room did.

What does registering a second mortgage cost in Saskatchewan?

A law firm's guide to Information Services Corporation fees, effective April 15, 2026, lists $200 for a mortgage under $250,000 and $275 from $250,000 to $500,000. Lender, broker and legal fees come on top and vary.

Does Saskatoon charge a land transfer tax on a refinance?

Saskatchewan does not charge a traditional land transfer tax. Buyers pay a title transfer fee of 0.4% of value to register a purchase, which is a charge on buying, not on a loan against a home you keep.

How tight is Saskatoon's market for sellers?

At the end of September 2026 the Saskatchewan REALTORS Association counted 2.13 months of supply in Saskatoon, with 384 sales that month. Less than three months of supply is generally read as a market where homes sell, though your own street may differ.

Business purpose: will a lender accept a Saskatoon second mortgage?

Some lenders will, and some will not. Rules and costs differ by lender and by how the money is used, so ask what documents they need and whether the rate or fees change when the purpose is a business.

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Sources