In Saskatchewan, the executor cannot act on the property until the Court of King's Bench grants Letters Probate and Information Services Corporation transmits title, so there is often a real gap, weeks to months, between the date-of-death value and the date the home is actually marketed and sold.
If you keep the inherited home as a rental instead of selling right away, that changes the answer: probate fees, charged per $1,000 of estate value, already applied at death, and the gain from the date of death forward becomes fully taxable once it is no longer anyone's principal residence.
Whether you sell quickly or hold on, the number that protects you is the home's real value on the date you inherited it. Get your hand-reviewed valuation from Joel Dyck.