Edmonton Housing Market Report
- The average price of a home in the Edmonton area in May 2025 reached $464,277. This price is 1.3% lower than April 2025, a 5.2% yearly increase.
- Benchmark prices grow 9.8% annually to reach their all-time high of $439,100.
- The average price of detached homes increased 6.1% year-over-year (YoY) and decreased 1.0% month-over-month (MoM) to $579,704.
- Semi-detached home average prices increased 6.2% year-over-year and 1.1% monthly to $439,857.
- Townhouse average prices increased 4.1% year-over-year to $306,796. This price is 2.5% lower than last month.
- Apartment average prices increased by 3.5% year-over-year to $213,792. They declined 2.1% from last month.
- Among Canada’s five largest population centers, Edmonton is the most affordable.
- June 14, 2025 Update: Today’s Lowest mortgage rate in Edmonton is 3.94% for 5-Year Fixed.
Edmonton Housing Market Overview
Edmonton Housing Market: Price Movements for May 2025
Benchmark Home Price | $439,100 | +0.2% 1-Month Change | +9.8% 1-Year Change |
Average Home Price | $464,277 | -1.3% 1-Month Change | +5.2% 1-Year Change |
Median Home Price | $444,000 | -0.4% 1-Month Change | +5.5% 1-Year Change |
Annual and Monthly Price Movement
In May 2025, the average home price was $464,277, which shows a 5.2% year-over-year increase and a 1.3% month-over-month decrease. Since the December 2022 trough, the average home sold price in the Greater Edmonton Area (GEA) climbed 16% to reach an all-time 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 their all-time high of $441,350 in May 2024. Between May 2024 and January 2025, they have been going sideways.
Apartment average prices increased by 3.5% year-over-year (YoY) and decreased by 2.1% month-over-month (MoM) to $213,792. The townhouse average price increased 4.1% year-over-year while decreasing by 2.5% month-over-month to $306,796. Semi-detached home average prices rose 6.2% year-over-year and 1.1% MoM to $439,857. Detached home average prices rose 6.1% year-over-year but declined 1.0% MoM to $579,704.
The Edmonton area benchmark price of $439.1k is 0.2% higher than last month and 9.8% higher than last year. Looking at home categories in the Greater Edmonton Area, the benchmark price of single-family detached homes was $518,500 for May 2025, an 11% annual increase and a 0.3% monthly increase. The benchmark townhouse price was unchanged month-over-month at $303.1k, representing a 16% yearly increase. The benchmark price for apartments was $222,300 for May 2025, a 15% increase year-over-year and a 1.8% monthly increase vs. April 2025.
The median residential sale price was $444,000 for May 2025, rising 5.5% from last year but declining 0.4% 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 $533,250 for May 2025, a 6.6% annual increase but declining 0.3% monthly. The median semi-detached sold price of $435,000 represents a 6.1% yearly and a 2.4% monthly rise. The median townhouse sold price of $310,000 represents a 5.1% annual increase but a 3.9% monthly decrease. Condo apartments sold with a median price of $198,750 for May 2025, increasing by 3.5% year-over-year but declining by 1.2% monthly.
Sale Numbers and State of the Edmonton Market
In May 2025, 2,967 residential homes, including 1,730 detached dwellings, 289 semi-detached houses, 466 apartments, and 482 townhouses, changed hands in the Greater Edmonton area.
The Edmonton area's residential sales-to-new-listings ratio (SNLR) is 60%, compared with 68% and 66% in April and March 2025. The residential sales-to-inventory ratio is 46%, compared with 50% and 51% in April and March 2025. These figures suggest the Edmonton area is still in the seller's market territory while moving towards a balanced market.
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 149% 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 ten-year price growth of homes in Edmonton, 21%, has been very modest compared to other major Canadian cities, most notably 75% for Toronto’s housing market, 104% for the Montreal housing market, 36% for the Calgary housing market, and 90% for the Ottawa housing market and 52% 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 affects 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 year, 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. The Bank of Canada is adopting a measured approach, balancing economic growth support with price 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 in variable mortgage rates while fixed mortgage rates seem close to their low for this cycle.
Home Prices in Edmonton
Greater Edmonton Area Housing Market Statistics for All Property Types in May 2025
Average Sold Price and MLS HPI Benchmark Price for GEA
Total Transactions in GEA
Market Overview for Detached Homes in May 2025
Average Sold Price
Transactions
Market Overview for Semi-Detached Homes in May 2025
Average Sold Price
Transactions
Market Overview for Townhouses in May 2025
Average Sold Price
Transactions
Market Overview for Condo Apartments in May 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.
- Financial institutions and brokerages may compensate us for connecting customers to them through payments for advertisements, clicks, and leads.
- 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.