Rent in Saskatoon varies enormously by unit type, a basement suite, a purpose-built apartment and a newer condo rent very differently, and by neighbourhood, so a single average tends to hide more than it reveals for anyone comparing a specific unit.
For a seller weighing a sale against renting a property out instead, the ownership side of that comparison is more concrete: the current benchmark price is $444,700 per the Saskatchewan REALTORS Association, while the rental side depends on CMHC's survey data for the specific unit type.
CMHC's survey, not a general estimate, is the right place to check before making a decision that size. Get your hand-reviewed valuation from Joel Dyck.