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

New Listings: 664 (602, 516, 526)
Sales: 432 (379, 411, 430)
Ratio: 65% (63%, 80%, 82%)
Price Changes: 418 (371, 398, 344)
Expired/Off-Market Listings: 243 (395, 179, 203)
Net loss/gain in listings this week: -11 (-172, -74, -107)
Active single-family home listings: 2941 (2905, 2976, 2958)
Active condo listings: 1888 (1877, 1914, 1917)
Homes 4-week running average: $466 ($467, $473, $474)
Condos 4-week running average: $225 ($226, $220, $218)

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

New Listings: 602 (516, 526, 606)
Sales: 379 (411, 430, 433)
Ratio: 63% (80%, 82%, 71%)
Price Changes: 371 (398, 344, 403)
Expired/Off-Market Listings: 395 (179, 203, 179)
Net loss/gain in listings this week: -172 (-74, -107, -6)
Active single-family home listings: 2905 (2976, 2958, 2973)
Active condo listings: 1877 (1914, 1917, 1919)
Homes 4-week running average: $467 ($473, $474, $484)
Condos 4-week running average: $226 ($220, $218, $217)

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Here's something we haven't said in a while... apartment-style condo sales took a major leap in June - they were up 26% from last June. Net migration to Alberta has reached new all-time highs, with almost 150,000 people moving to the province between June 2022 and March 2023. Approximately 2/3 of these new migrants are international, and this is creating very high demand for rental properties. As a result, there has been increased interest in condo-style apartments. Apartment prices have been on the decline for years in Edmonton, and although we're not seeing a year-over-year increase in the benchmark price yet, it does appear as though apartment prices may have bottomed out in January of this year. 

Listing inventory is now well below normal levels,…

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

New Listings: 516 (526, 606, 664)
Sales: 411 (430, 433, 425)
Ratio: 80% (82%, 71%, 64%)
Price Changes: 398 (344, 403, 415)
Expired/Off-Market Listings: 179 (203, 179, 198)
Net loss/gain in listings this week: -74 (-107, -6, 41)
Active single-family home listings: 2976 (2958, 2973, 2994)
Active condo listings: 1914 (1917, 1919, 1857)
Homes 4-week running average: $473 ($474, $484, $485)
Condos 4-week running average: $220 ($218, $217, $215)


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

New Listings: 526 (606, 664, 615)
Sales: 430 (433, 425, 413)
Ratio: 82% (71%, 64%, 67%)
Price Changes: 344 (403, 415, 459)
Expired/Off-Market Listings: 203 (179, 198, 331)
Net loss/gain in listings this week: -107 (-6, 41, -129)
Active single-family home listings: 2958 (2973, 2994, 2903)
Active condo listings: 1917 (1919, 1857, 1814)
Homes 4-week running average: $474 ($484, $485, $483)
Condos 4-week running average: $218 ($217, $215, $218)

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

New Listings: 606 (664, 615, 603)
Sales: 433 (425, 413, 420)
Ratio: 71% (64%, 67%, 70%)
Price Changes: 403 (415, 459, 390)
Expired/Off-Market Listings: 179 (198, 331, 174)
Net loss/gain in listings this week: -6 (41, -129, 9)
Active single-family home listings: 2973 (2994, 2903, 2940)
Active condo listings: 1919 (1857, 1814, 1841)
Homes 4-week running average: $484 ($485, $483, $482)
Condos 4-week running average: $217 ($215, $218, $221)

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

New Listings: 664 (615, 603, 649)
Sales: 425 (413, 420, 493)
Ratio: 64% (67%, 70%, 76%)
Price Changes: 415 (459, 390, 395)
Expired/Off-Market Listings: 198 (331, 174, 194)
Net loss/gain in listings this week: 41 (-129, 9, -38)
Active single-family home listings: 2994 (2903, 2940, 2901)
Active condo listings: 1857 (1814, 1841, 1836)
Homes 4-week running average: $485($483, $482, $478)
Condos 4-week running average: $215 ($218, $221, $219)


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Some interesting things are happening in the Greater Edmonton Real Estate market right now. Although sales dropped 5% from last May, they took a major jump compared to April. Meanwhile, fewer new listings came onto the market, and the inventory dropped to the lowest level we've seen in May in at least 7 years. This pushed us into a stronger seller's market with only 2.6 months of inventory. 

With the rents on the rise and very low vacancy rates, more people are considering purchasing condos. We've seen an increase in investors looking for condos to buy and rent out; there is also more interest in condos outside of the downtown core where there is almost a 10-month supply of condos (a severe buyer's market).


City of…

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Sales in the Greater Edmonton area are once again well below the levels seen during the pandemic but well ahead of pre-pandemic levels. If you don't include 2021 and 2022, there were more sales in April 2023 than there were in at least 15 years. The demand is a bit surprising when you consider interest rates are higher than we've seen in years. Lucky for us, we have plenty of new listings coming on the market, while in Calgary, inventory is extremely low, and prices have hit an all-time high. Our inventory is still below normal for this time of year, and for the second month in a row, we find ourselves in a seller's market with a 3.4-month supply of listings.


City of Edmonton Stats

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When you compare the current real estate market in the Greater Edmonton Area to 2022, or 2021, things look pretty bleak - sales are down 44% from last March, prices are down 8%, and inventory is up 20% - but when you take a look at the bigger picture, 2023 is looking like one of the best years in at least a decade. Have a look at the charts below, and you'll see what I mean. 

Meanwhile, in Calgary, inventory is at its lowest level for March since 2006!

According to CREB® Chief Economist Ann-Marie Lurie, “The challenge has been centred around supply. As a result, existing homeowners may be reluctant to list as they struggle to find an acceptable housing alternative in this market. At the same time, higher lending rates can also reduce the incentives…

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