Edmonton ranks as one of Canada's top 10 places to buy real estate

It’s no secret that housing in Edmonton is more affordable than much of the country, but a new report by RE/MAX shows that the city is also one of Canada’s best places to buy real estate.

“The Canadian real estate market is in full stabilization mode following a year-long correction amid rising interest rates,” RE/MAX writes.

“Put simply, sales activity is rebounding, and home prices are climbing. Despite mortgage rates at the highest level they have been in years, the nation’s housing market is quite different from what it was a year ago.”

RE/MAX says the latest conditions are “ideal for buyers and sellers” because they offer more certainty than the large gains seen in 2020 and 2021, followed by steep declines in 2022.

You might also like:
• 12 houses for sale in Alberta that are listed for under $200,000 (PHOTOS)
• 8 homes you can buy for less than $200K in Edmonton
• Want to save money? Rent in Edmonton is WAY cheaper than in Calgary

That said, the real estate agency’s top 10 picks are generally markets that have slowed recently, with Edmonton listed as Canada’s ninth-best city to buy real estate.

Its reasoning? The Greater Edmonton Area real estate market saw a 6.8% decrease in sales in May. RE/MAX says the average residential sales price was $420,507 in 2023, down 1.5% from the same time last year but up almost 3% on a month-over-month basis.

The top 10 in Canada are:

1. Greater Moncton, New Brunswick
2. Sault Ste. Marie, Ontario
3. North Bay, Ontario
4. Fredericton, New Brunswick
5. Saint John, New Brunswick
6. Halifax, Nova Scotia
7. Windsor, Ontario
8. Regina, Saskatchewan
9. Edmonton, Alberta
10. Sudbury, Ontario

RE/MAX highlights the importance of a more stable environment, “allowing prospective homebuyers to assess the fundamental components of making such a significant purchase as a house.”