The Greater Edmonton real estate market continued to follow its normal seasonal trend in November, with sales easing as expected. Even so, activity remained solid by historical standards. Sales declined 16% compared to last November, reflecting both typical seasonal cooling and the gradual moderation we have been tracking this fall.
Price growth, however, remains intact. The benchmark price for single-family homes rose 7.5% year-over-year to $508,000. Apartment-style condominiums increased 1% to $196,700, while townhouses saw a 1% gain to $272,400. With 3.6 months of supply, the region is still technically in seller’s market territory, though conditions are the closest to balanced that we’ve seen in more than two and a half years.
The underlying story this month is the continued rise in supply. New listings were up 8%, well above what we typically see in late fall. Total inventory reached 5,956 homes—normal for November but a significant turnaround after 18 months of unusually low stock. This expansion in supply is offering buyers more choice and reducing some of the urgency that defined much of the market over the past two years.
In summary, demand remains strong, but the landscape is shifting. Sellers can still expect healthy interest, yet pricing strategically and investing in strong marketing are increasingly important as competition grows. Buyers, meanwhile, may find they have a bit more time to make decisions (depending on price range and location). As we head toward year-end, Edmonton’s market continues to balance robust fundamentals with early signs of a more sustainable, less constrained environment.
City of Edmonton Stats
Posted by Liv Real Estate on
Leave A Comment