The average price of single-family homes sold in Edmonton reached a new all-time high in June - $473,876, up 15% from last June! The median sale price also reached a record high - a 12% year-over-year increase at $418,000. Luxury sales were well above normal levels with a home selling for $5million, another for $3.15million and 27 houses in total selling for $1million or more. In comparison, 9 homes sold for over $1million last June and in June 2019. Our market has gotten the attention of investors, according to Patrick Francey, CEO  of the Real Estate Investment Network:
"Investors can expect to generate a positive cash of about $300 to $700 a month after costs in monthly rent based on the average price of a home in the city. At the same, investors can also expect to build equity with each mortgage payment amid a marketplace where home values and rents are on the rise."
I will update this post once the REALTORS® Association of Edmonton releases their monthly report on the real estate market.  

Edmonton Stats

Single-family homes sales have started their annual decline, but are still above normal levels for this time of year. 1,061 single-family homes were reported sold in June, up 12% from last year. Edmonton condo sales bounced back in June, to a level we haven't seen since 2016. 446 condos were reported sold in June, up 34% from last year and roughly average for the past 10 years. The average price of condos reported sold in June was $239,349, but that is about $5000 higher than what I would consider the actual average because a detached condo sold for over $2million (the average price is $234k if you remove that sale). The median price for condos was up 7.6% to $220,000. The average price/square foot for single-family homes was up $22 to $291 and for condos was up $10 to $222. Posted by Liv Real Estate on
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This is very positive. And we still have a long ways to go to catch up to other urban Canadian centers. The next few years are going to be bonkers.

Posted by Tom on Friday, July 2nd, 2021 at 6:42am

[…] average price of single-family homes this week! Luxury sales are definitely on the rise – check out our monthly report for more […]

Posted by Weekly Market Update Jul.2/21 - The Edmonton Real Estate BlogThe Edmonton Real Estate Blog on Friday, July 2nd, 2021 at 7:19am

Nothing to get excited about.
Comparing prices from last June is useless.
Prices last June were way down from the previous year, making a 15% JUMP IN PRICES!!! ridiculous.
Prices were down by that much and more from June 2019.
We're pretty much back to where we were in 2017.

Posted by GM on Monday, July 26th, 2021 at 8:37pm

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