The Edmonton housing market in July showed signs of balance returning, as buyers enjoyed more choice and sellers faced growing competition. According to the REALTORS® Association of Edmonton, 2,860 residential properties sold in July — down just 0.5% from June, but 2.6% lower than July 2024.
Meanwhile, new listings surged 7.8% month-over-month and an impressive 20% compared to last year, bringing total inventory to 7,083 homes. That’s an inventory increase of 4.7% more than last month and 21.8% higher year-over-year.
Prices Holding Steady — With Some Shifts by Property Type
The average selling price across all residential property types dipped slightly by 0.4% compared to June, landing at $463,078. That’s still 5.2% higher than July last year. The MLS® Home Price Index (HPI) composite benchmark price came in at $427,800 — down 2.7% month-over-month but up 5.2% year-over-year.
- Detached homes were the standout in July, with average prices increasing 0.7% to $578,442, a 4.8% gain compared to 2024. Detached listings rose 3% month-over-month and nearly 20% from last year, while sales dipped just 0.5% from June.
- Semi-detached homes averaged $430,813, a 2.1% drop from last month but still 5.8% higher than a year ago. Listings in this segment jumped 34.1% compared to July 2024, adding more options for buyers.
- Row/townhomes saw the sharpest month-over-month slowdown, with sales down 4.3% and prices averaging $296,785 — a 4.1% decrease from June and a modest 1.6% increase year-over-year.
- Apartment condominiums, on the other hand, posted a 3.5% increase in sales over June, though activity remains 4.8% below last year. The average condo price dropped 2.4% month-over-month to $209,711 but stayed 2.6% higher than July 2024.
Edmonton Housing Market Outlook: More Choice for Buyers
The influx of new listings is creating a more balanced market, giving buyers greater negotiating power. According to RAE Board Chair Darlene Reid:
“Another month of strong listing activity has bolstered Edmonton’s inventory levels, to the point where motivated sellers might be willing to lower their price to close the deal, and buyers’ options remain plentiful.”
She also noted that July’s sellers could easily become August’s buyers, meaning activity may shift again during the back-to-school months.
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What This Means for You
If you’re a buyer, now is a great time to explore your options with more homes on the market and motivated sellers. If you’re selling, a competitive pricing strategy and professional marketing will be key to attracting offers quickly.
Ready to make your move? Contact experienced Edmonton REALTOR® Wally Fakhreddine to discuss your buying or selling plans in today’s market. Call or text 780-238-7384 or email wally@topedmontonrealestate.com.