2025 Real Estate Forecast: Economic and Population Growth Fuels Optimism

We attended the REALTORS® Association of Edmonton's annual Housing Forecast yesterday and returned home with lots of interesting information about what to expect in the coming year. The speakers included Economists, data analysts, CEOs and a Minister from the Government of Alberta. Every presenter was cautiously optimistic about Alberta's economy and the Greater Edmonton Housing market for the coming year.

What is causing all this optimism? Dale Nally, Minister of Service Alberta and Red Tape Reduction, pointed out that with 12% of Canada's population, Alberta has 25% of the jobs in this country. Provincial housing starts surged to a 10-year high in 2024, with 33,000 starts.…

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Here is our weekly update on the Edmonton real estate market. (Previous week's numbers are in brackets). For the past 7 days:

New Listings: 394 (336, 164, 124)
Sales: 282 (219, 185, 185)
Ratio: 72% (65%, 113%, 149%)
Price Changes: 103 (122, 53, 31)
Expired/Off-Market Listings: 121 (122, 321, 125)
Net loss/gain in listings this week: -9 (-5, -342, -186)
Active single-family home listings: 1338 (1322, 1317, 1495)
Active condo listings: 961 (980, 969, 1098)
Homes 4-week running average: $516 ($517, $518, $515)
Condos 4-week running average: $237 ($242, $242, $240)

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Here is our weekly update on the Edmonton real estate market. (Previous week's numbers are in brackets). For the past 7 days:

New Listings: 336 (164, 124, 251)
Sales: 219 (185, 185, 313)
Ratio: 65% (113%, 149%, 125%)
Price Changes: 122 (53, 31, 114)
Expired/Off-Market Listings: (321, 125, 148)
Net loss/gain in listings this week: -5 (-342, -186, -210)
Active single-family home listings: 1322 (1317, 1495, 1573)
Active condo listings: 980 (969, 1098, 1118)
Homes 4-week running average: $517 ($518, $515, $513)
Condos 4-week running average: $242 ($242, $240, $238)

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As we turn the pages to the final chapter of 2024, the Greater Edmonton real estate market presents an interesting story of growth and resilience, underscored by robust demand and limited inventory. In this analysis, we look into the key trends that shaped our market in December.

Pricing

The benchmark price for single-family homes rose by 8% to $475,500, compared to last December. Apartment-style condos followed closely with a 9% increase, pricing at $194,600. Meanwhile, townhouses, blending the allure of community living with the promise of ownership, have surged by an impressive 13% to $268,400.

Inventory Insights: A Seller's Advantage

Amidst this increase in prices, the market's inventory levels stayed well below the norm for all of 2024.…

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Here is our weekly update on the Edmonton real estate market. (Previous week's numbers are in brackets). For the past 7 days:

New Listings: 164 (124, 251, 291)
Sales: 185 (185, 313, 306)
Ratio: 113% (149%, 125%, 105%)
Price Changes: 53 (31, 114, 116)
Expired/Off-Market Listings: 321 (125, 148, 153)
Net loss/gain in listings this week: -342 (-186, -210, -168)
Active single-family home listings: 1317 (1495, 1573, 1653)
Active condo listings: 969 (1098, 1118, 1130)
Homes 4-week running average: $518 ($515, $512, $510)
Condos 4-week running average: $242 ($240, $238, $230)

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Here is our weekly update on the Edmonton real estate market. (Previous week's numbers are in brackets). For the past 7 days:

New Listings: 124 (251, 291, 283)
Sales: 185 (313, 306, 347)
Ratio: 149% (125%, 105%, 123%)
Price Changes: 31 (114, 116, 144)
Expired/Off-Market Listings: 125 (148, 153, 251)
Net loss/gain in listings this week: -186 (-210, -168, -315)
Active single-family home listings: 1495 (1573, 1653, 1696)
Active condo listings: 1098 (1118, 1130, 1172)
Homes 4-week running average: $515 ($512, $510, $512)
Condos 4-week running average: $240 ($238, $230, $229)

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Here is our weekly update on the Edmonton real estate market. (Previous week's numbers are in brackets). For the past 7 days:

New Listings: 251 (291, 283, 266)
Sales: 313 (306, 347, 366)
Ratio: 125% (105%, 123%, 138%)
Price Changes: 114 (116, 144, 153)
Expired/Off-Market Listings: 148 (153, 251, 118)
Net loss/gain in listings this week: -210 (-168, -315, -218)
Active single-family home listings: 1573 (1653, 1696, 1802)
Active condo listings: 1118 (1130, 1172, 1228)
Homes 4-week running average: $512 ($510, $512, $509)
Condos 4-week running average: $238 ($230, $229, $230)

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Here is our weekly update on the Edmonton real estate market. (Previous week's numbers are in brackets). For the past 7 days:

New Listings: 291 (283, 266, 362)
Sales: 306 (347, 366, 360)
Ratio: 105% (123%, 138%, 99%)
Price Changes: 116 (144, 153, 208)
Expired/Off-Market Listings: 153 (251, 118, 156)
Net loss/gain in listings this week: -168 (-315, -218, -154)
Active single-family home listings: 1653 (1696, 1802, 1894)
Active condo listings: 1130 (1172, 1228, 1271)
Homes 4-week running average: $510 ($512, $509, $517)
Condos 4-week running average: $230 ($229, $230, $231)


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Here is our weekly update on the Edmonton real estate market. (Previous week's numbers are in brackets). For the past 7 days:

New Listings: 283 (266, 362, 331)
Sales: 347 (366, 360, 324)
Ratio: 123% (138%, 99%, 98%)
Price Changes: 144 (153, 208, 179)
Expired/Off-Market Listings: 251 (118, 156, 146)
Net loss/gain in listings this week: -315 (-218, -154, -139)
Active single-family home listings: 1696 (1802, 1894, 1950)
Active condo listings: 1172 (1228, 1271, 1274)
Homes 4-week running average: $512 ($509, $517, $520)
Condos 4-week running average: $229 ($230, $231, $234)

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The real estate market in Greater Edmonton continues to flourish in November 2024, with sales remaining higher than seasonal norms and prices considerably higher than last year. Single-family homes now have a benchmark price of $472,600, marking a 10% rise from last November. For those looking into apartment-style condos, the benchmark price has climbed 11% to $194,900. Meanwhile, townhouses have also experienced growth, with their prices up by 12%, reaching $269,500.

These price increases mirror strong demand for homes in the area amidst a backdrop of shrinking inventory. By the end of November, there were just 4,501 properties listed for sale, 17% fewer than the previous year. This scenario, where demand outpaces supply, solidifies a seller's market,…

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