As the summer market unfolds, July brought a subtle shift in the pace and balance of Greater Edmonton Area real estate. While overall sales activity remained relatively stable compared to June, a growing supply of new listings is reshaping the landscape for both buyers and sellers.
In total, 2,860 properties sold in July, a modest month-over-month decrease of just 0.5%. However, the more notable change came from the supply side: new listings surged by nearly 8%, outpacing sales and pushing active inventory higher. By month’s end, over 7,000 homes were available for sale a 21.8% increase compared to this time last year.
This trend signals a shift toward greater balance in the market, even as we remain in what’s typically considered the tail end of the busy season. Sellers continue to list confidently, but buyers are beginning to regain leverage as their options expand. According to the REALTORS® Association of Edmonton, this dynamic is already prompting some motivated sellers to price more competitively to secure offers before fall.
Pricing Trends: Stability with Nuance
While average sale prices declined slightly by 0.4% month-over-month, the overall market still reflects positive annual growth. The average residential sale price now sits at $463,078, which is 5.2% higher than July 2024. The MLS® HPI benchmark price also follows this trend, down slightly from June, but still up year-over-year.
Detached Homes: Still Leading the Market
Detached properties continue to anchor the market, with prices edging up 0.7% from June to an average of $578,442. On an annual basis, prices remain nearly 5% higher, reflecting strong demand despite a slight slowdown in sales activity.
New listings for detached homes climbed both monthly and annually, adding to the overall supply. As more inventory enters the market, buyers in this segment may find increased negotiating power heading into late summer.
Semi-Detached & Townhomes: Supply Outpaces Demand
Semi-detached and row/townhome segments both experienced an influx of new listings in July. Semi-detached properties saw a notable 34% increase in listings compared to last year, while row/townhomes jumped over 21%.
Despite these additions, demand appears to be tapering. Sales in both categories declined compared to June and July 2024. Prices also softened month-over-month, particularly for townhomes, where the average price dropped more than 4% to $296,785.
Condominiums: Resilient Sales, Mixed Pricing
Apartment condominiums were the only category to record an increase in sales over the previous month. This segment saw a 3.5% monthly bump in activity, suggesting that affordability and downsizing trends may be playing a role as interest rates remain elevated.
Despite stronger demand, average condo prices dipped slightly to $209,711, though they still reflect modest growth compared to July 2024.
What This Means for Buyers and Sellers
July’s market activity tells a story of rising choice for buyers and increasing competition for sellers. As we approach the back-to-school season typically the last push before the fall slowdown, we may see another short-term bump in activity.
For buyers, this is a promising moment. Inventory is building, and pricing pressure is easing in several categories, particularly townhomes and semis. There’s more time to explore options and negotiate.
For sellers, it’s important to price strategically and ensure your home is well-presented. In a more competitive market, standing out matters more than ever and motivated pricing may be the difference between selling this month versus sitting through fall.
If you’d like a deeper look at how this market shift affects your home search or sale strategy, I’d be happy to connect and walk you through the numbers based on your goals.
