City of Edmonton
Adrian Michelutti
Adrian M.
5 Years of Experience
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I'm a local Realtor focused on exceptional customer service with the right knowledge, expe...
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Victoria Collins-Hood
Victoria C.
3 Years of Experience
Quote by Victoria C.,
I am a caring and dedicated Realtor who will work with you to buy or sell your home....
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Adrian Michelutti
Adrian M.
5 Years of Experience
Quote by Adrian M.,
I'm a local Realtor focused on exceptional customer service with the right knowledge, expe...
CONTACT ADRIAN message
Victoria Collins-Hood
Victoria C.
3 Years of Experience
Quote by Victoria C.,
I am a caring and dedicated Realtor who will work with you to buy or sell your home....
CONTACT VICTORIA message
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Edmonton Real Estate News: August 2020 Update and 2021 Forecast

September continues Edmonton's return to year over year growth with a 1% yoy increase in average sold prices and a 24% yoy increase in home sales in the month. In contrast to other real estate markets across Canada, condos in Edmonton experienced the greatest yoy increase in prices by 7% from $217,665 to $232,327. Detached homes followed a close second with a 5% annual change in prices with semi-detached and townhouses taking last place with a 3% decline in prices yoy.

Despite the backdrop of COVID-19 and a depressed oil market, Edmonton continues to become more and more of a seller's market with properties remaining 53 days on market on average, a 10 day drop compared to 2019. Like Toronto's real estate market and Ottawa's real estate market, demand is outpacing supply. Calgary, on the other hand, is barely recovering from the oil shocks in March.

Multiple forces at currently at play in Edmonton's real estate market. The Western Canadian Select oil price index remains near the cost of production at $30 to $35 CAD since historical lows in March and April, leaving the likelihood of further fossil fuel-based economic expansion in the province unlikely. Many major employers in Alberta's natural resource-driven economy have announced major layoffs, further suppressing home prices in Edmonton and Calgary.

Despite these setbacks, a rapid increase in money supply withBank of Canada's promise to continue quantitative easing and low interest rates into 2021 is likely fueling additional housing exuberance and speculation. In addition, Prime Minister Justin Trudeau and the Federal Government have announced the extension of the Canadian Emergency Wage Subsidy until the end of 2020. As a result, asset price inflation is likely to continue as money pours into the economy through both monetary and fiscal policy.

Calgary Housing Market Statistics for All Property Types in September 2020

Agents Who Offer a Commission As Low As 1%

Agents Who Offer a Commission As Low As 1%

Calgary Commission Structure

Real estate commissions are the fees that home sellers pay to the seller and buyer real estate agents for their services. In Calgary, the total commission rate is structured as 7% for the first $100,000 of a home’s sale price and 3% on the remaining balance. Seller agents usually get half or 50% of this total commission with buyer agents getting the other half. To calculate your real estate commission for Calgary, see our calculator below. For other cities in Alberta, please visit our Alberta real estate commission calculator page for more information.

attach_money
You will receive...
$480,050480k
on closing
You will pay around...
$19,95020k
in commission
Buying Agent
$9,5009.50k
Selling Agent
$9,5009.50k
5% GST
$950950

Calgary Real Estate Tools for Buyers and Sellers

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. The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA.