Buyer's market? Edmonton home listings surge 20 per cent year over year
Edmonton’s housing market held steady in July, with a boost in new listings giving buyers more choice heading into late summer, according to the latest report from the Realtors Association of Edmonton.
There were 2,860 residential sales recorded last month, a slight decline of 0.5 per cent from June and 2.6 per cent lower than in July 2024. Meanwhile, new listings rose to 4,387 — up 7.8 per cent month-over-month and 20 per cent higher than a year earlier.
Overall, inventory climbed to 7,083 properties, a 4.7 per cent increase from June and up 21.8 per cent year-over-year.
“Another month of strong listing activity has bolstered Edmonton’s inventory levels to the point where motivated sellers might be willing to lower their price to close the deal,” said Darlene Reid, chair of the Realtors Association of Edmonton.
“Buyers’ options remain plentiful. I won’t speculate on whether the busy season is over just yet, as this month’s sellers often become next month’s buyers.”
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The average residential selling price across all property types was $463,078 — down 0.4 per cent from June but 5.2 per cent higher year-over-year. The average price for a detached home rose 0.7 per cent to $578,442, marking a 4.8 per cent annual increase.
The multiple listing service (MLS) Home Price Index composite benchmark price for the region was $427,800, down 2.7 per cent from June but up 5.2 per cent compared to July 2024.
Among property types, apartment condominium sales stood out, increasing 3.5 per cent from June despite being 4.8 per cent lower than last year. Average condo prices declined 2.4 per cent to $209,711 but remained 2.6 per cent higher year-over-year.
Semi-detached homes saw average prices fall 2.1 per cent to $430,813, though still up 5.8 per cent compared to July 2024. Sales dipped slightly by 0.3 per cent from June and 2.9 per cent annually.
Row and townhouse sales showed the steepest decline, down 4.3 per cent month-over-month and 6.6 per cent year-over-year. Average prices fell 4.1 per cent to $296,785, a 1.6 per cent increase from a year ago.
You can check out the full report from the Realtors Association of Edmonton online.