Edmonton Housing Market Report
- The average price of a home in the Edmonton area in April 2025 reached an all-time high of $470,447 . This price is 2.1% higher than March 2025, a 9.1% yearly increase.
- Benchmark prices grow 11% annually to stay at their all-time high of $438,100.
- The average price of detached homes increased 10.5% year-over-year (YoY) and 1.9% month-over-month (MoM) to $585,707.
- Semi-detached home average prices increased 6.9% year-over-year and 1.0% monthly to $434,858.
- Townhouse average prices increased 6.9% year-over-year to $314,703. This price is the same as last month.
- Apartment average prices increased by 8.6% year-over-year to $218,330. They climbed 0.3% from last month.
- Among Canada’s five largest population centers, Edmonton is the most affordable.
- May 25, 2025 Update: Today’s Lowest mortgage rate in Edmonton is 3.89% for 3-Year Fixed.
Edmonton Housing Market Overview
Edmonton Housing Market: Price Movements for April 2025
Benchmark Home Price | $438,100 | 0% 1-Month Change | +11% 1-Year Change |
Average Home Price | $470,447 | +2.1% 1-Month Change | +9.1% 1-Year Change |
Median Home Price | $445,650 | +0.1% 1-Month Change | +6.5% 1-Year Change |
Annual and Monthly Price Movement
In April 2025, the average home price was $470,447, which shows a 9.1% year-over-year increase and a 2.1% month-over-month increase. Since the December 2022 trough, the average home sold price in the Greater Edmonton Area (GEA) climbed 16% to a high of $420,507 in May 2023. From May to November 2023, the average Edmonton home price was on a downward trend. Edmonton Home prices have grown since November 2023 to reach a high of $441,350 in May 2024. Between May 2024 and January 2025, they have been going sideways. But since February, they have had a strong upward trend, and is now at another all-time high in April 2025.
Apartment average prices increased by 8.6% year-over-year (YoY) and increased 0.3% month-over-month (MoM) to $218,330. The townhouse average price increased 6.9% year-over-year and stayed unchanged month-over-month to $314,703. Semi-detached home average prices rose 6.9% year-over-year and 1.0% MoM to $434,858. Detached home average prices rose 10.5% year-over-year and 1.9% MoM to $585,707.
The Edmonton area benchmark price of $438.1k is the same as last month and 11% higher than last year. Looking at home categories in the Greater Edmonton Area, the benchmark price of single-family detached homes was $516.8k for April 2025, a 12% annual increase and a 0.1% monthly increase. The benchmark townhouse price decreased 0.3% month-over-month to $303.0k, representing an 18% yearly increase. The benchmark price for apartments was $218.3k for April 2025, a 15% increase year-over-year and a 1.3% monthly increase vs. February 2025.
The median residential sale price was $445,650 for April 2025, rising 6.5% from last year and 0.1% from last month. Looking at the median sold prices for home categories in the Edmonton area, single-family detached homes had a median sale price of $535,000 for April 2025, an 8.1% annual increase and unchanged monthly. The median semi-detached sold price of $425,000 represents a 6.3% yearly rise. The median townhouse sold price of $322,000 represents a 7.7% annual increase and a 0.2% monthly decrease. Condo apartments sold with a median price of $202,000 for April 2025, increasing by 9.2% year-over-year and by 2.5% monthly.
Sale Numbers and State of the Edmonton Market
In April 2025, 2,710 residential homes, including 1,576 detached dwellings, 307 semi-detached houses, 435 apartments, and 392 townhouses, changed hands in the Greater Edmonton area.
The Edmonton area's residential sales-to-new-listings ratio (SNLR) is 68%, compared with 67% and 66% in February and March 2025. The residential sales-to-inventory ratio is 50%, compared with 44% and 51% in February and March 2025. These figures suggest the Edmonton area is deep in the seller's market territory.
Edmonton Housing vs. Inflation and Other Housing Markets
Edmonton is an affordable housing market compared to other large Canadian housing markets. Interestingly, (benchmark) Edmonton house prices increased 151% over the past 20 years, compared with the CPI inflation of 54%. Meanwhile, the population of Edmonton and its surroundings grew from 1,018,099 to 1,631,614 (60%).
The seven-year price growth of homes in Edmonton, 22%, has been very modest compared to other major Canadian cities, most notably 41% for Toronto’s housing market, 76% for the Montreal housing market, 37% for the Calgary housing market, and 64% for the Ottawa housing market, except for 14% for Vancouver’s housing market. This underperformance suggests the relative absence of speculation in the Edmonton real estate market, which, in turn, suggests a relatively ample housing supply. Given the correlation between home unaffordability and over-regulation of land use, Edmonton home buyers are reaping the fruit of housing freedom, especially fast approval of housing projects.
Market Analysis
Trade tensions between Canada and the United States significantly impact Canada's economic outlook. New U.S. tariffs under the Trump administration create uncertainty that could affect Canadian housing markets. Homebuyers and investors worry about employment stability and income growth, particularly in trade-dependent sectors. Manufacturing workers in Ontario and resource industries in Western Canada face increased vulnerability.
Despite favourable borrowing conditions, economic uncertainty may cause potential buyers to delay purchases. Even with declining mortgage rates, trade concerns could weaken buyer confidence. Investors may hesitate due to concerns about tenants' ability to maintain payments if trade disruptions affect local job markets.
These factors could lead to softening housing markets across regions, affecting both sales volumes and price appreciation. Urban centers reliant on trade industries may be particularly vulnerable to market adjustments. While lower borrowing costs typically support housing markets, uncertainty about economic conditions may counteract this effect.
The availability and rate of mortgages remain crucial factors affecting house prices. The Bank of Canada has decreased its policy rate by 225 basis points over the past ten months, bringing it to the neutral rate. This decline reflects the bank's response to economic challenges.
Looking ahead, while trade tensions and economic uncertainties will likely maintain downward pressure on interest rates, the pace of reductions is expected to be slow. Going forward, the Bank of Canada will likely adopt a more measured approach, balancing economic growth support with financial stability.
Financial markets' indicators support this outlook, with bond yield curves and interest rate futures suggesting a gradual downward trajectory. WOWA's mortgage rate projections anticipate modest decreases rather than sharp declines, aligning with the expected slower pace of monetary policy easing.
Home Prices in Edmonton
Greater Edmonton Area Housing Market Statistics for All Property Types in April 2025
Average Sold Price and MLS HPI Benchmark Price for GEA
Total Transactions in GEA
Market Overview for Detached Homes in April 2025
Average Sold Price
Transactions
Market Overview for Semi-Detached Homes in April 2025
Average Sold Price
Transactions
Market Overview for Townhouses in April 2025
Average Sold Price
Transactions
Market Overview for Condo Apartments in April 2025
Average Sold Price
Transactions
Glossary and Definitions
MLS® HPI: The MLS® Home Price Index (HPI) is an index by the Canadian Real Estate Association (CREA) that tracks the prices of homes in a neighborhood. It allows Canadians to quickly compare home prices across Canada and between periods of time without having to account for specific features of a property. Unlike market prices, which can fluctuate from month to month based on seasonal dynamics, the HPI provides a stable view tracks trends across a longer period of time. The HPI is reviewed every year in May to adjust for changes in the real estate marketplace.
MLS® HPI Benchmark Price: The MLS® Home Price Index (HPI) Benchmark Price is the HPI translated into a real-world price number.
Strata Insurance: Strata insurance is insurance used by a strata like a condominium to covers damages to common areas and assets and liability to the strata. It can also include fixtures built or installed as part of the original construction of each unit, even though these may not be common structures. The insurance can cover:
- Buildings and structures associated with the strata including common areas such as the roof, parking garages, driveways, gyms, pools, etc.
- Liability for any property damage or bodily injury suffered on strata property
- Any fixtures that are part of the "standard unit" or original construction of each unit
Strata insurance does not usually include personal items and appliances that are part of a condo unit. It also does not cover the damages made by individual unit owners, such as in the case of water damage caused by a unit owner. These are usually covered by personal condo insurance.
Property types
Detached home: A detached home is your standard single-family home. It is a residential building that stands alone and is separately titled or legally a single unit.
Semi-detached home: A semi-detached home is similar to a detached home, except it shares a wall with another home. This pair of homes must make up an independent building and each should be separately titled or legally two separate units. There can only be two homes in a semi-detached building.
Townhouses: A townhouse is the middle between a detached/semi-detached home and a condo apartment. Like detached and semi-detached homes, they are often single-family units that have their own land and may be attached to other units. However, like condo apartments, they typically have to pay co-ownership fees for maintenance and may share some common features with their neighbors.
Condo apartment: This category includes all apartments and condominiums. These are complexes of residential units with common areas such as hallways, parking lots, stairwells, etc. They can be low-rise, mid-rise, or high-rise buildings. Unlike townhouses, there are no parts of the lot (the land of the building) where access is reserved for only one owner or occupant. There can be privately owned units and spaces inside the building.
Plexes are multi-story buildings with two to four individual units, usually one on each floor. They are a mainstay in Montreal and other cities in Quebec. Each unit is usually individually accessible via an external entrance with higher floors connected by staircases.
Property Classes
Freeholds: A freehold is any property where the owner owns both the house and the land it is built on. Common freehold property types include: detached, semi-detached, some townhouses, and farmland.
Condominiums: A condominium or condo is any property where the owner owns the home (or unit) but shares ownership of the land and other improvements with a condominium corporation. Common condominium property types include condo apartments and some townhouses.
Leasehold: Leasehold describes the situation where different entities own the land and the structure built on the land. Owner of the buildings has leased the land and pay rent to their landlord while owning the building on the land.
Housing Markets Across Canada
Data sourced from the RAE and the Canadian Real Estate Association (CREA). Any analysis or commentary is the opinion of the analysts at WOWA.ca and should not be construed as investment advice. Please consult a licensed real estate professional before making a real estate investment decision. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA.
Disclaimer:
- Any analysis or commentary reflects the opinions of WOWA.ca analysts and should not be considered financial advice. Please consult a licensed professional before making any decisions.
- The calculators and content on this page are for general information only. WOWA does not guarantee the accuracy and is not responsible for any consequences of using the calculator.
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- Interest rates are sourced from financial institutions' websites or provided to us directly. Real estate data is sourced from the Canadian Real Estate Association (CREA) and regional boards' websites and documents.
- The trademarks MLS®, Multiple Listing Service®, and associated logos are owned by CREA and identify services provided by its members.