Seasonal cooling is always expected this time of year, weather-wise and for the Edmonton housing market. Despite the normal dip in activity, Edmonton’s housing market remains a top performer across major Canadian markets. With persistent demand for affordable homes, home prices in Edmonton are expected to continue to rise in the coming months especially in the detached and semi-detached markets.
Benchmark home prices refer to the MLS® estimate of the value of a “typical” home in a community, based on the most popular combination of features, such as age of the home, size, number of bedrooms and bathrooms.
Single Family Home Prices in Edmonton
Compared to September 2023, the average selling price of a single-family home in Edmonton increased by 10.1%. The average single-family home price was $538,000 in September, which represents a 2.1% increase compared to August.
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Semi-Detached Home Prices in Edmonton
In September, the average selling price for a semi-detached home in Edmonton was $416,000 which is an increase of 0.3% compared to August and an increase of 16.9% YoY.
Row/Townhouse Prices in Edmonton
The average price for Edmonton townhomes was $283,000. This price represents a YoY increase of 7.4% and a decrease of 1.2% compared to August.
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Condo Prices in Edmonton
Edmonton average condo selling prices were $195,000 which is an increase of 9.8% compared to last year. It is a decrease of 2.9% compared to August 2024.
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Edmonton Rent Trends
Total average rent in Edmonton was $1,611 which is a MoM increase of 2.61% and a YoY increase of 12%.
Edmonton Housing Market Outlook
Despite the typical slowdown this time of year, the Edmonton market remains strong. Persistent demand and low inventory will continue to drive price growth. Seasonal changes may see days on market stretch a bit longer, but the continued interest in the Edmonton market and tight supply conditions will continue to push prices higher despite sales activity cooling this time of year.
The Realtors® Association of Edmonton reported that the sales-to-new-listings ratio (SNLR) was 70% in September which represents a sellers market in Edmonton.
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