This property type is seeing the largest price increase in Edmonton
The real estate market in Edmonton may be cooling, but certain property types in the city are still seeing a jump in prices.
According to new data from the Realtors Association of Edmonton (RAE), housing activity in the Greater Edmonton Area (GEA) real estate market during September included 3,645 new listings added to the market and 2,192 units sold.
Compared to the previous month, a 0.1 per cent increase in new listings was recorded, along with a 7.8 per cent decrease in sales.
Year-over-year, the change is 16.3 per cent more listings added and 2.9 per cent fewer sales. This difference has created a 25.6 per cent increase in available inventory compared to a year ago, according to the RAE.
Adam Zihla/Shutterstock
Looking at City of Edmonton statistics, sales year-over-year have dropped by 5.3 per cent, while new listings have shot up by 19.2 per cent.
One property type that is seeing the biggest increase in its price is row/townhouses, climbing 4.5 per cent year-over-year to sit at an average price of $296,000.
Detached homes are seeing the smallest price increase year-over-year, climbing just 0.3 per cent to settle at an average price of $540,000.
As for the average days on the market for monthly sales, only one property type in Edmonton is seeing a decrease, with apartment/condominiums decreasing from 49 days to 47 days.
“Real estate activity is getting quieter as expected in the fall, though last month we did see prices go up for semi-detached and even row/townhouse property types,” said Darlene Reid, 2025 Board chair for the RAE.
Reid added that there is a potential for a spike in activity if the Bank of Canada decides to lower interest rates again later on.