Saskatoon's benchmark price sits at $444,700 per the Saskatchewan REALTORS Association, and knowing your specific home's real number, not the citywide average, is what actually tells you whether the smaller place is affordable before you make an offer on it.
A short-term rental, a family member's spare room, or a rent-back arrangement where you sell but stay in the Lakeview home for a set number of weeks after closing can all cover the transition without forcing a rushed decision on the next place.
The emotional pull to find the new place before you sell is understandable, but it is a timing problem to solve with a lawyer-drafted possession date, not a reason to carry two homes at once. Get your hand-reviewed valuation from Joel Dyck.