Alberta Housing Market Report
- June 27, 2025 Update: Today’s Lowest mortgage rate in Alberta is 3.94% for 5-Year Fixed.
Alberta Housing Market Overview
Alberta Average House Prices by City
Alberta Housing Market as of April 2025
Alberta's housing market showed continued price strength but deeper sales moderation in April 2025. The average home price in Alberta increased to $525,135, the second highest-month on record, and is up 0.1% from March 2025's $524,755 and 5.1% higher than April 2024. Alberta’s benchmark home price was $523,400, a slight 0.1% decrease from March 2025’s record-high of $524,000, and remains 2.9% higher year-over-year.
Sales and New Listings
April 2025 saw a continuing shift in market dynamics, with sales declining 14.8% year-over-year to 7,285 transactions. This extends March’s negative annual change and reinforces growing market caution amid growing economic uncertainty due to U.S. actions. The decline was most pronounced in apartments (down 25% year-over-year), while detached homes showed more resilience (down 12%).
Regional performance continued to vary considerably, with Calgary showing the sharpest sales decline at 22% year-over-year, while smaller markets like Lethbridge (-2%) and Fort McMurray (+6%) saw sales remain relatively steady. This divergence suggests buyers may be seeking more affordable alternatives to the major urban centers.
New listings increased to 11,638 (up 3% year-over-year). Inventory levels increased 15% year-over-year to 17,397 units.
Key Statistics:
- Total Residential Sales: 7,285 (14.8% decrease year-over-year)
- New Listings: 11,638 (3% increase year-over-year)
The sales-to-new listings ratio increased to 63% in April 2025 from March 2025's 60%, pushing Alberta further into seller's market territory. This ratio indicates that for every 100 new listings, the market absorbed 63 listings this month. Despite the overall sales decline, the market remains tight due to strong demand relative to available supply.
Market Conditions
Inventory trends in Alberta continued to show regional disparities in April 2025. Calgary's inventory more than doubled, increasing 116% year-over-year to 5,867 listings, while Edmonton's inventory continued its decline, down 10% year-over-year to 3,304 listings. This divergence is reflected in the months of supply metric, with Calgary rising to 2.6 months (up more than double year-over-year) while Edmonton increased to 1.86 months (up just 9% year-over-year).
Smaller markets continue to experience tight inventory conditions. Medicine Hat has the tightest market in the province with just 1.25 months of supply, followed by Red Deer at 1.48 months and Grande Prairie at 1.49 months. These tight conditions could help explain the annual price growth in these regions.
Inventory Trends:
- Total Residential Inventory: 17,397 (15% increase year-over-year)
- Months of Supply: 2.39 (36% increase year-over-year)
Rising Prices Across Property Types
April 2025 saw price increases across all property types. The total residential average price in Alberta rose to $525,135, a 5.1% increase compared to April 2024 and a 0.1% increase from March 2025.
Average Prices by Property Type:
- Detached: $615,114 (4% increase year-over-year)
- Semi-Detached: $512,762 (2% increase year-over-year)
- Row: $393,431 (2% increase year-over-year)
- Apartment: $299,408 (2% increase year-over-year)
All property types showed positive annual price growth, though the pace of increase has slightly moderated in most segments compared to March.
Alberta: Seller’s or Buyer’s Markets?
| City | April 2025 Sales-to-New-Listings Ratio (SNLR) | March 2025 Sales-to-New-Listings Ratio (SNLR) | Change | Market Type |
|---|---|---|---|---|
| Calgary | 55% | 54% | Balanced Market | |
| Edmonton | 68% | 66% | Seller's Market | |
| Red Deer | 79% | 63% | Seller's Market | |
| Lethbridge | 90% | 75% | Seller's Market | |
| Medicine Hat | 83% | 74% | Seller's Market | |
| Grande Prairie | 77% | 78% | Seller's Market | |
| Fort McMurray | 74% | 57% | Seller's Market | |
| Alberta | 63% | 60.1% | Seller's Market |
The provincial sales-to-new listings ratio (SNLR) increased to 63% in April 2025 from March 2025's 60%, with most major cities seeing an increase in their SNLR compared to last month. In contrast, March 2025 had most cities with a decrease in their SNLR compared to the previous month. Despite the overall sales decline, most regional markets remain tight due to limited inventory relative to demand.
Regional Breakdown
Calgary
Calgary's housing market continued to show significant changes, with home sales decreasing by 22.4% year-over-year in April 2025. Despite this sales slowdown, Calgary's average home price climbed 6.3% over the past year to a record high of $646,743. The sales-to-new listings ratio increased to 55% from March 2025's 54%, moving Calgary closer towards seller’s market territory. Months of supply almost tripled to 2.6, making Calgary the only major Alberta city with such a dramatic increase in supply.
Edmonton
Edmonton's market showed improvement in April, with the average home price in Edmonton at $470,447 in April 2025, a 9.1% increase compared to April 2024 and a record-high. However, Edmonton home sales are down 13.4% annually. The months of supply in Edmonton remained relatively low at 1.86, up 9% year-over-year, supporting the continued price appreciation.
Red Deer
Red Deer experienced a slowdown in April, with sales declining 16% year-over-year and a roughly 4% increase in its average home price to $395,512. The months of supply in Red Deer was 1.48, up 12% year-over-year, keeping it among the tightest markets in the province.
Lethbridge
Lethbridge's market remained stable, with sales almost flat (-2% change) year-over-year at 192, with the average price increasing 8% to $404,282. The months of supply also remained flat at 1.51, unchanged year-over-year, but still maintains strong seller's market conditions with an SNLR of 90%.
Medicine Hat
Medicine Hat showed one of the strongest annual increases in average prices as it rose 19.9% to $405,204. Months of supply decreased to 1.25, down 9% year-over-year, making it the tightest market in the province.
Grande Prairie
Grande Prairie continued its strong performance with a 14.9% year-over-year increase in its average home price to $384,241. The months of supply in Grande Prairie fell dramatically to 1.49, down 19% year-over-year.
Fort McMurray
Fort McMurray experienced a 7% year-over-year increase in sales, the only major Albertan city to see annual sales growth this month in April 2025, with the average price increasing 7% to $372,369. The months of supply in Fort McMurray decreased to 3.01, down 18% year-over-year, though it remains higher than other Alberta markets.
| City | Average Home Prices (April 2025) | Population (2021) |
|---|---|---|
| Calgary | 1,481,806 6.4% vs. 2016 | |
| Edmonton | 1,418,118 7.3% vs. 2016 | |
| Red Deer | 100,844 4.0% vs. 2016 | |
| Lethbridge | 123,847 5.5% vs. 2016 | |
| Medicine Hat | 76,376 -0.2% vs. 2016 | |
| Grande Prairie | 64,141 1.5% vs. 2016 | |
| Fort McMurray | 68,002 1.3% vs. 2016 |
Housing Markets of Major Cities in Alberta
Housing Markets Across Canada
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