For an existing owner, that cuts two ways. Being allowed to add a legal secondary suite can add real value and rental income to your own property, while a neighbouring lot being redeveloped into something denser can change a street's character faster than in an area with no zoning change at all. Saskatoon's benchmark price rose 2.8 percent year over year in the latest Saskatchewan REALTORS Association report, and shifts like this are part of what feeds into that number over time.
The effect on any one property depends entirely on its own zoning, lot size and location, not on a citywide average, so a blanket answer is not a responsible one.
Joel Dyck checks the current zoning on a property before pricing it, since a lot that qualifies for added density is often worth more for what could be built than for the house standing on it today. Get your hand-reviewed valuation from Joel Dyck.