In April 2025, the Greater Edmonton real estate market appears to be shifting, characterized by record-setting benchmark prices and subdued consumer sentiment.
The market continues to favour sellers, with single-family homes reaching a new benchmark price of $516,800, representing a 12% increase from the previous year. Apartment-style condos and townhouses have also experienced significant growth, increasing by 15% to $218,300 and 18% to $303,000, respectively. These figures highlight a persistent demand, with limited supply, evidenced by only two months of inventory available.
However, beneath these positive trends, signs of a changing market are emerging. New listings have risen slightly by 3%, while sales have decreased by 13%, which lead to a modest 1% increase in inventory. This contrast between strong price growth and declining sales highlights a complex market, where consumer confidence appears to be faltering in light of external economic pressures, particularly concerns about potential U.S. tariffs.
If you've followed this blog for a while, you may recognize the graphic below. It illustrates that when comparing sales and prices on a year-over-year basis, a cycle emerges. We have been in phase one for at least a year, where both sales and prices have increased compared to the previous year. Last month, sales were only 1% higher than last year, while prices continued to rise. This suggests we are entering phase two. Although inventory remains lower than normal, we observed an increase in new listings and a significant month-over-month jump in inventory (12%). This indicates that the market is shifting, and we are likely to see sales continue to decrease compared to the previous year, with prices eventually following suit. These cycles occur consistently, though we cannot predict the duration of each phase. Nevertheless, this understanding aids in forecasting what may be ahead.
At this juncture in the Greater Edmonton real estate market, we find a mix of sentiments. On one hand, the persistent seller's market provides a solid platform for homeowners looking to capitalize on favorable sales outcomes. On the other hand, the observable decline in consumer confidence and changes in sales activity suggest that a recalibration may be on the horizon. For those navigating this dynamic market, staying informed and adaptable will be essential to seizing opportunities and overcoming the challenges that lie ahead.
City of Edmonton Sales Stats
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