In March 2025, the Greater Edmonton real estate market displayed remarkable resilience and growth, showcasing the region's economic strength despite facing external tariff pressures and shifts in global trade. The benchmark price for single-family homes rose to a record high of $516,400, reflecting a significant 14% increase compared to the previous year. This upward trend was also evident in apartment-style condos, which experienced a 14% rise, reaching $215,400. Townhouses led the growth with an impressive 20% increase, bringing their price to $303,900.
Amidst rising prices, Edmonton's real estate market was significantly impacted by a noticeable supply constraint. By month-end, inventory levels sat at 4,845 listings, representing a 9% decrease from the previous year. This decline highlights a market where demand far exceeds supply. The reduction in inventory coincided with a rapid recovery from February's tariff-related hesitations, leading to a resurgence in market activity in March.
Mark Parsons from ATB Economics summarized the broader economic context, observing that while President Trump's 'liberation day' tariff announcement temporarily excluded Canada and Mexico, it also signaled increased trade tensions with other countries. Despite some global economic uncertainty due to these tariffs, Alberta has been relatively insulated because the auto and steel/aluminum tariffs primarily impact Ontario and Quebec, where these goods are predominantly produced.
In March, the Greater Edmonton area saw 2,494 homes sold, aligning closely with last year's figures but exceeding typical sales for the month. This trend marks two full years of a seller's market, with only 1.95 months of inventory currently available. Edmonton's enduring appeal is bolstered by Alberta's population growth, which, although slowing, continues to outpace national averages, driven by the city's relative affordability.
As we navigate the changing economic landscape, the Greater Edmonton real estate sector demonstrates resilience and potential for growth. It is essential to pay attention to global economic shifts and domestic policy changes as we anticipate their effects on local markets. The combination of low tariff exposure, ongoing seller's market conditions, and strong demand, despite a slowdown in growth, presents a complex yet promising outlook for Edmonton's real estate market.
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