‘Very strong market: Edmonton real estate market continues to grow

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The Edmonton real estate market is continuing to surge through the opening months of 2025.

In total, there were 2,494 homes sold in the greater Edmonton area market in March, which is a 36.9 per cent increase from the previous month and a 1.3 per cent increase from March 2024.

New home listings in March totalled 3,780, which was a 44.5 per cent increase from the previous month and a 7.5 per cent increase from March 2024.

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“We did our forecast in January to predict our year and the market has already surpassed what we were predicting. It’s a lot stronger than we anticipated. Nobody knew what the impact of the tariffs would be, and we’re still predicting a strong market in Edmonton,” said Darlene Reid, chair of the board for the Realtors Association of Edmonton.

Reid said Edmonton is still one of the strongest positioned when it comes to affordability when you compare it to other major cities across the country,

And Edmonton continues to be a more affordable housing market than in Calgary.

“We’re still seeing a very strong market in Edmonton. I know that hasn’t been the case in other areas of Canada, and even Calgary has had a bit of a drop in their market, but Edmonton has still seen an increase in prices, sales are still very strong and listings are creeping up,” said Reid.

“If you look at the price gap between Edmonton and Calgary, we’re still looking at a $200,000 price gap, and that’s driving a lot of migration into our area, and that’s keeping our housing prices strong and the market up.”

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Reid said in February there was a boost in half-duplex and townhome sales, but last month there was a large spike in detached homes.

She said that’s fairly common this time of year, due to families looking to move into areas where their children will be going to school.

The Realtors Association of Edmonton released its March numbers earlier this week and the average price for a detached home is $574,872, which is 1.2 per cent increase from the previous month and 11.2 per cent higher than the previous year.

Semi-detached homes are being sold for an average of $430,646, while townhouses are selling for an average of $314,791, while apartment condos are selling for an average of $218,052.

“All of our housing categories have increased significantly, anywhere from 12-20 per cent increase,” said Reid.

Reid said it was a ‘record-breaking’ year in 2024 for permits being pulled for housing projects, but she said more than 40 per cent of those project are rental-based, which is causing an inventory shortage in Edmonton.

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“While that’s great for investors and people looking to rent, it still isn’t giving enough supply into our inventory for people who want to do home ownership,” said Reid.

“The rent prices have increased significantly last year, and the vacancy rates are so low, it’s very hard for people to find rentals here, and that’s why we saw a big shift in our apartment-style condos (being sold). That was one of the biggest price increases that we noted in our forecast.

“People feel like they just have to get something that is affordable, and when you look at some of the costs of these rents, it’s cheaper to buy one of these condos. Even with your condo fee, you’re paying less per month for rent.”

With U.S. President Donald Trump imposing tariffs on many Canadian products, Reid said so far they haven’t found that it’s impacted the housing market in Edmonton, as they continue to get multiple offers on detached homes in the $450,000-$550,000 range.

However, one area it could impact is in new home builds.

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“We anticipate there will be an impact in new home builds, as the cost of supplies will go up, and people are sourcing materials in other places besides the U.S., and there could be delays in shipping and transport to Canada,” said Reid.

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