Greater Edmonton's housing market continues to favour sellers, though the advantage is beginning to soften as supply increases.
Year-over-year, prices continue to rise: the benchmark price for single-family homes increased by 9% to $518,900; apartment-style condos saw a 2% rise to $201,900; and townhouses gained 6% to $286,500. This pattern reflects buyer demand for space and versatility, with detached homes leading in price growth, followed by townhouses, while condos are starting to lag.
The market remains tight, with only three months of supply, maintaining a seller's market that has lasted over two years. However, clear signs of change are emerging. New listings have risen by 9%, exceeding seasonal norms, and inventory has climbed by 23%, approaching typical levels after a prolonged period of scarcity. Although sales decreased by 8% from last August to 2,382 units, activity remains above average for this time of year, indicating that demand is still strong despite an increase in available options.
Timing factors are influencing the market this year. A weaker-than-expected spring—affected by US tariffs and related confidence concerns—led to a reduction in consumer spending and investment, which pushed some purchases into the summer months. This delay is contributing to stronger-than-normal sales now and is likely to support an active fall season, though not as intense as last year.
While sellers still hold an advantage, attractive pricing and strong marketing efforts will be more important as buyers gain more options.
Buyers can expect a greater selection and slightly a bit more time to make decisions, particularly in the condo and townhouse sectors. Well-priced single-family homes will continue to sell quickly.
In summary, the market dynamics are shifting toward a better balance, creating more opportunities for buyers. Sellers can expect some stability, while buyers will enjoy renewed choices as we move into fall.
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