Average house prices in Edmonton are finally seeing a slowdown
Housing affordability in Edmonton saw a major spike over the winter, but luckily the average price of a home and the income required to buy one is slowing down.
A new report from Ratehub calculated the minimum annual income required to buy an average home in some of Canada’s major cities based on real estate data from April and May 2025.
The report details how changing mortgage rates, stress test rates, and real estate prices impact the income required to buy a home.
According to the report, the average home price in Edmonton was $432,400 in May, a $1,300 price increase from the previous month.
The average income required to purchase a home also increased in Edmonton over this period, rising by $240 to $78,200.
Ratehub
An increase still stings, but it stings a little less when you look back to December 2024 to January 2025, when Edmonton saw a staggering $14,800 price increase for an average home, and the average annual income required to purchase a home also increased, rising by $2,890.
Shifts in affordability were largely due to changes in home prices, as demand is starting to firm up in regional markets across Canada. According to the latest data from the Canadian Real Estate Association (CREA), home sales increased on a monthly basis for the first time in more than six months, putting a stop to falling prices. While early, this could be evidence that the market is starting to defrost as buyers shake off ongoing tariff uncertainty.
“It’s only one month of data, and one car doesn’t make a parade, but there is a sense that maybe the expected turnaround in housing activity this year was just delayed for a few months by the initial tariff chaos and uncertainty,” stated Shaun Cathcart, CREA’s senior economist, in the association’s May release.
The average Canadian home price came in at $691,299, still down 1.8 per cent on an annual basis, but marking a 1.9 per cent increase from April.