Edmonton homebuyers have more leverage as sales slow down | Daily Hive

Edmonton homebuyers have the upper hand as housing market slows down

Pashu Ta Studio/Shutterstock

Edmonton’s housing market cooled in August, with sales and listings both slowing as summer wound down, according to the latest report from the Realtors Association of Edmonton.

There were 2,382 homes sold across the region last month, down 16.7 per cent from July and 7.8 per cent lower than in August 2024. New listings came in at 3,928 — a 10.5 per cent dip month-over-month but still 11.6 per cent higher than a year ago.

Overall supply remained high, with inventory sitting nearly 25 per cent above last August. Homes also spent longer on the market, taking an extra four days on average to sell compared to July.

“Despite the hotter temperatures in August, the market definitely cooled. The number of properties listed and sold in August was lower in all categories, which is typical for this time of year,” said Darlene Reid, chair of the Realtors Association of Edmonton.

“As school starts up again and life gets busier, the buyers and sellers that are left in the market will have to change up their tactics a bit. Sellers will have to make sure they’re priced right and showing their best, while buyers will be able to negotiate with motivated sellers.”

You might also like:

The average selling price for all residential property types was $461,281 — down 0.4 per cent from July, but still six per cent higher year-over-year. Detached homes averaged $569,926, a 1.5 per cent monthly dip but a 4.5 per cent increase from August 2024.

The MLS Home Price Index composite benchmark price for the region held steady at $427,900, up 5.1 per cent from last year.

Condo apartments saw the biggest price gains, climbing 3.9 per cent from July and 6.7 per cent from last year to an average of $218,063. Sales, however, dropped nearly 20 per cent month-over-month and 9.5 per cent annually.

Semi-detached homes averaged $420,802, down 2.3 per cent from July but 1.4 per cent higher than last August. Sales slid 16.2 per cent month-over-month and 12.4 per cent year-over-year.

Row and townhouse prices edged up to $301,342, a 1.5 per cent monthly increase and 3.5 per cent higher than last year. Sales fell the most of any property type, dropping 17.7 per cent from July and almost 20 per cent compared to 2024.

You can check out the full report from the Realtors Association of Edmonton online.