Edmonton's Property Market Thrives: Benchmark Prices Scale New Peaks Despite Tariff Challenges
In February 2025, the real estate market in the Greater Edmonton Area has shown some important trends. By considering economic factors and local conditions, let’s look at the key statistics and changes shaping the market.
The average price for single-family homes reached a new high of $505,700, which is a 14 increase from last year. Similarly, apartment-style condos and townhouses also saw price increases of 14 ($207,300) and 19 ($292,800), respectively. These numbers reflect strong demand in the market, even with ongoing uncertainties.
Inventory levels continue to be notably low, with 4,148 listings by the end of February, reflecting a 13 decrease from the previous year.
We started the year with very strong sales in January, but the threat of tariffs from the US President seems to have taken a toll on consumer confidence. In February, 1,825 homes were sold, marking a 7 decrease compared to the previous year. However, this figure still exceeds typical sales levels for February, which reinforces the seller’s market with only 2.3 months of inventory available. This ongoing trend, favouring sellers for nearly two years, highlights a market driven by scarcity and competition.
Alberta’s population growth, although slowing, still exceeds national averages, which is driving demand for housing. This demographic trend, combined with economic factors, suggests that the real estate sector will remain vibrant.
According to the Edmonton Journal, a key discussion at the BILD Edmonton Metro Economic Forecast highlighted the expected impact of tariffs, particularly the rise in new home construction costs. This trend aligns with broader economic conditions, indicating that real estate investments may need to adjust to accommodate changing cost structures.
“There are lots of moving parts, and those parts are equally terrifying and exciting,” said Paul Lanni, president and CEO of Averton, a home and community builder, about the BILD forecast event.
“I also think people who have been watching this long enough will be able to recognize that we do have an (Edmonton) affordability advantage and it will be under threat by virtue of increased demand,” said Lanni.
“Then you add things like the potential for tariffs — those costs will get passed on to the consumer as it becomes more expensive to build… Those increases could come pretty quickly. So I think the smart money is looking to making those decisions on houses today to take advantage of almost the perfect storm of affordable housing prices, reduced interest rates and the growing demand for housing.”
To succeed in this market, it’s crucial to make informed choices and plan strategically. Although there are challenges, the present market conditions still allow for growth and resilience. Overall, people are hopeful about the ongoing activity in the Greater Edmonton real estate market.
City of Edmonton Stats
