As we move deeper into the spring market, Edmonton’s real estate landscape is expected to remain competitive, fast-moving, and favourable for both sellers and strategic buyers. The trends we’ve seen in March—rising prices, increased sales, and growing inventory are likely to continue, shaping opportunities for those looking to make a move. Sales surged 36.9% from February, new listings increased 44.5%, and home prices continued to rise across all property types. (click toggle to see analytics of each property types)
Detached Homes
• Sales: 1,434 homes sold (up 41.3% from February, down 1.8% year-over-year)
• Average Price: $574,872 (up 1.2% month-over-month, up 11.2% from last year)
• Market Conditions: Detached homes remain in high demand, particularly in sought-after neighborhoods, with homes selling faster than last year.
Semi-Detached Homes
• Sales: 268 units (up 24.7% from February, up 3.1% year-over-year)
• Average Price: $430,646 (up 2.3% month-over-month, up 5.3% from last year)
Row/Townhouses
•Sales: Up 27.9% from February, 3.9% higher than last year
• Average Price: $314,791 (up 4.6% from February, up 11.3% year-over-year)
Condominiums
• Sales: Up 37.8% from February, 8.8% higher than last year
• Average Price: $218,052 (up 1.4% from February, up 12.2% year-over-year)
For Sellers: The Market is Still in Your Favour, But Timing Matters
Sellers have benefited from rising home values and strong buyer demand, but with more listings hitting the market, standing out is key. April and May historically bring even more inventory, which means proper pricing, staging, and marketing strategies are critical to attracting top offers.
What to Watch
- Pricing Stabilization? While prices are still rising, the rapid growth seen in Q1 may start to level off as more homes hit the market. Sellers should set realistic pricing strategies to remain competitive.
- Faster Turnaround: Well-prepared homes continue to sell within 30 days or less, meaning sellers who list now can still take advantage of peak market conditions.
- Multiple Offers Persist: The demand for well-priced detached homes and townhouses remains high, especially in desirable neighbourhoods.
Sellers’ Action Plan
- List Now While Demand is Strong – Buyers are actively searching, and many want to move before summer.
- Work with an Expert – A strong marketing strategy can make the difference between multiple offers and a home sitting on the market.
- Be Flexible – Quick-closing homes are highly desirable in today’s fast-moving market.
For Buyers: More Listings, But No Time to Wait
While the increase in inventory provides more options, buyers still face rising prices and competition, especially in the most sought-after areas.
What to Watch
- More Choice, But Not Enough to Slow Price Growth: Even though listings are increasing, overall inventory remains 8.1% lower year-over-year, meaning competition isn’t easing much.
- Interest Rate Factors: If rates hold steady or decrease, more buyers will enter the market, increasing demand.
- Bidding Wars on Key Property Types: Detached homes, semi-detached properties, and townhouses in prime locations are still seeing multiple offers.
Buyers’ Action Plan
- Get Pre-Approved – Mortgage pre-approval remains crucial to moving quickly in competitive situations.
- Work with a Skilled Negotiator – An experienced agent can help navigate multiple-offer scenarios.
- Be Ready to Act – The best properties are selling in days, not weeks.
Final Thoughts: A Strong Market, But a Smart Strategy is Key
The Edmonton real estate market remains strong heading into spring, with sellers benefiting from rising prices and buyer demand, and buyers gaining from increased selection—but both need to act strategically.
Sellers: If you’re considering listing, now is the time to capitalize on strong market conditions before more competition enters.
Buyers: Acting quickly and decisively will be key to locking in today’s prices before they climb further.
Whether you’re buying or selling, expert guidance is more valuable than ever. Let’s connect to discuss how to make the most of this dynamic market.
