In March 2024, the Greater Edmonton real estate market offered a favourable landscape for sellers and attracted the interest of investors from other markets. Let's examine the latest trends, challenges, and opportunities that define the market.

March witnessed a remarkable 35% increase in sales compared to the previous year, with 2,467 transactions. The surge in sales activity reflects the relative affordability of the Edmonton area compared to other large cities across Canada.

New listings rose 8% from last year, which is a healthy influx of properties. However, strong demand led to a 16% decrease in inventory; the month ended with 5,315 listings - only 2.15 months of supply - and a strong seller's market.

For over a year, the Edmonton real…

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In February 2024, the Greater Edmonton real estate market experienced significant growth, hinting at an optimistic future for homeowners and investors. Sales soared by an impressive 52% compared to the previous year, totalling 1,966 transactions. Demand remained strong, leading to a decrease in inventory levels by 15% compared to the same period last year, with 4,802 listings at month-end. Despite a 7% increase in new listings, the market's competitive nature kept inventory well below normal levels.

This surge in sales activity can be attributed, in part, to the ongoing population growth in Alberta. As the population continues to rise, rental rates have increased, further motivating individuals to transition from renting to homeownership. This trend…

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Welcome to our first real estate market update of the year for the Greater Edmonton area! As we dive into the data, it becomes clear that the market is already buzzing with activity. With a surge in sales, rising benchmark prices, and a low inventory level, homeowners and prospective buyers are in for an intriguing year ahead. Let's examine the latest trends and indicators that are shaping the real estate landscape in the Greater Edmonton Area.

Sales Surge and Reduced Inventory

Compared to January 2023, the market saw a remarkable 46% increase in sales, showcasing a highly energized market. At the same time, new listings experienced a more modest 4% increase. As a result, inventory dropped by 13% year-over-year, resulting in the lowest inventory…

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We saw an impressive surge in sales in the Greater Edmonton Area in December compared to a year previous, with a staggering 23.5% increase. New listings also experienced a remarkable 24% increase, giving buyers a wider range of choices to explore. Even with the jump in new listings, end-of-month inventory dropped 8% year-over-year, which remained well below the historical norm.

With 3.76 months of inventory, we find ourselves just under the 4-month threshold for a balanced market. In other words, it's still a seller's market, providing those looking to sell their homes with an advantageous position.

Across the board, benchmark prices have seen a positive upward trend. Single-family homes experienced a steady 3.5% increase in benchmark prices, while…

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The Greater Edmonton real estate market continued its hot streak in October, with sales up significantly and inventory dropping compared to last year. According to data from the REALTORS® Association of Edmonton, home sales in the Greater Edmonton area increased 23% year-over-year, with 1812 properties sold last month. This high sales volume comes even as the number of active listings fell 12% to 6254 properties on the market in October.

The combination of strong demand and shrinking supply has kept conditions in favour of sellers in Edmonton. Homes are still often selling with multiple offers, albeit not necessarily the frenzied bidding wars seen in the past. Our agents reported many properties received two offers and sold near the asking price in…

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The Edmonton real estate market has been nothing short of dynamic in recent months. September 2023 shows impressive statistics that underline the city's enduring appeal. Sales in the Edmonton area surged significantly, showcasing a remarkable 31% increase over the previous September. A standout trend was the strong demand for apartment and townhouse-style condos as buyers sought affordable housing options in response to the region's increasingly competitive rental market.

One key factor fueling this surge in demand is Alberta's record-setting population growth. As more individuals and families choose to call Alberta home, the need for housing has spiked, particularly in cities like Edmonton. Consequently, this influx of newcomers has led to a robust…

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The Greater Edmonton area experienced a surge in sales this August, reaching a record high of 2250 sales. Meanwhile, inventory is at its lowest level for August since 2014, with 6768 properties available at the end of the month.

While new listings did show some improvement compared to last year, the market continues to favour sellers, with only 3 months of inventory available. Additionally, lending rates have caused buyers to delay their purchases or opt for more affordable products.

Within our brokerage, many clients who bought this past summer were new to Canada or moving from another province. Still, just as many were local buyers looking for a new home because of lifestyle changes such as marriage, divorce, children, or work. Similarly, many…

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Active listings were down 16% from July 2022, while sales were up 18% leaving us in a strong seller's market. However, we aren't seeing the same spike in prices that you would expect from a seller's market due to the higher interest rates. In fact, the benchmark price for all categories was down compared to July 2022, with the composite down 6%. 



City of Edmonton Stats

Below are the statistics for Edmonton Proper, showing both single-family and condo sales at a high since 2015, when comparing July 2023 to July years previous.


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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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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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