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Edmonton’s real estate market has long been recognized as one of the most affordable among Canada’s major cities, but its luxury housing segment has experienced remarkable growth. A recent report found that sales of homes priced at $1.5 million or more in Edmonton increased by nearly 48 per cent year over year, the highest percentage growth in Canada. Between January 1 and April 30, 65 luxury homes were sold in the city, compared with 44 during the same period the previous year.

This increase reflects a broader national trend in which smaller and more affordable markets, including Edmonton, are seeing stronger luxury housing demand than some of Canada’s largest metropolitan areas. While luxury home sales declined in larger cities such as Vancouver and Toronto, several mid-sized markets experienced notable growth. These findings suggest that demand is shifting toward regions where buyers can access high-end properties at comparatively lower prices.

Luxury homes are also much more affordable in Edmonton than in Canada’s most expensive cities. In Edmonton, luxury properties generally begin at around $1.5 million, whereas comparable luxury homes in Vancouver typically start at about $3 million. The city’s luxury threshold has also increased over time, rising from approximately $1 million just two years ago as property values have continued to climb.

Growing home prices have contributed to an expanding pool of luxury buyers in Edmonton. Homeowners who sell properties at much higher values than in previous years are now able to move into the luxury market, often purchasing homes valued at more than $2 million. Increased migration in recent years also brought buyers from more expensive housing markets, many of whom viewed Edmonton’s real estate market as offering exceptional value.

Another emerging trend in Edmonton’s luxury housing market is a stronger focus on quality rather than size. Buyers are increasingly prioritizing premium design, high-end finishes, and craftsmanship over larger amounts of square footage. Overall, Edmonton’s luxury housing market continues to attract attention by offering upscale homes at prices that remain significantly lower than those found in Canada’s largest and most expensive real estate markets.

Canada’s housing market continued to gain momentum in June 2026, with national home sales rising 0.5% from May. This marks the third consecutive month of growth, following stronger gains in April and May, leaving sales activity approximately 7% higher than it was in March. Compared to June 2025, actual home sales were also up 0.9%, pointing to a steady recovery in buyer activity.

Market conditions are becoming more balanced as new listings declined by 1.3% for the second straight month while sales continued to edge higher. As a result, the national sales-to-new listings ratio improved to 50.2%, moving back above the 50% mark for the first time this year. This suggests that supply and demand are becoming more aligned, creating healthier market conditions for both buyers and sellers.

Home prices also showed signs of stabilization. The national Home Price Index remained unchanged from May to June, ending a stretch of monthly declines that began in early 2025. While prices remain 3.6% lower than they were a year ago, the pace of those declines has slowed considerably. The national average sale price reached $696,078 in June, representing a modest 0.5% increase compared to the same month last year.

Inventory levels remained relatively steady, with just over 208,000 properties listed for sale across the country at the end of June. There were 4.8 months of inventory available, unchanged from May and slightly below the long-term average of five months. These conditions continue to reflect a generally balanced market, with neither buyers nor sellers holding a significant advantage nationally.

Looking ahead, improving borrowing conditions and stabilizing home values are expected to encourage more buyers to return to the market. While activity may slow temporarily during the summer months, current trends suggest a stronger and more active housing market could emerge in the fall as more buyers and sellers move forward with their plans.

Boosting your home's curb appeal doesn't have to come with a high price tag. Simple, affordable improvements can make a strong first impression, helping your property stand out in listing photos and during showings. By focusing on a few key exterior features, you can create a more inviting and attractive entrance without taking on a major renovation.

One of the easiest ways to refresh your home's exterior is by updating the front door. A fresh coat of paint in a colour that complements the home's exterior can create an eye-catching focal point and a welcoming feel. Replacing dated hardware, adding a stylish doormat, or displaying a seasonal wreath are also inexpensive touches that can instantly enhance the entryway.

Small exterior details can have a surprisingly big impact. Replacing worn or outdated house numbers with a modern design adds a polished look while making the home easier to locate. Updating outdoor light fixtures can also improve both appearance and functionality, while solar-powered pathway lights provide additional safety and highlight walkways after dark.

Clean, well-maintained windows help showcase a home's best features by allowing natural light to shine through and creating a fresh, cared-for appearance. Washing windows inside and out can dramatically improve the overall look of the exterior. Adding window boxes filled with colourful flowers is another simple way to bring charm and visual interest to the front of the home.

Landscaping ties everything together and helps create lasting curb appeal. Colourful planters can brighten an empty porch and naturally draw attention to the entrance. Regular lawn care, trimming shrubs, pruning trees, and keeping garden beds free of weeds all contribute to a neat, well-maintained property that leaves a positive impression on visitors and potential buyers.

Canada’s housing market is expected to remain relatively quiet for the rest of the year, creating what some analysts describe as a favorable period for buyers before activity begins to increase again. While home sales are projected to stay subdued in the near term, price growth is expected to gradually accelerate in 2027 as market conditions improve.

Home prices have declined in several of Canada’s largest markets throughout much of the year. In the Greater Toronto Area, benchmark home prices were down 5.4 per cent in June compared with the same month last year, falling to $940,800. In British Columbia, the average home price declined 1.2 per cent in May to $947,859. Although sales are expected to improve in Ontario and British Columbia during the second half of the year, much of that increase reflects a recovery from a weaker-than-anticipated first half.

Improving affordability and a narrowing gap between buyer and seller price expectations are expected to support a gradual increase in market activity. Even so, housing sales are forecast to remain below their 10-year averages in both Ontario and British Columbia throughout next year. Home prices in both provinces are expected to return to positive growth in 2027, with British Columbia potentially recovering more quickly due to stronger performance in the luxury housing segment.

Across Canada, the average home price increased by 1.5 per cent over the month, reaching $702,079. Despite this monthly gain, national home prices are still expected to decline by approximately 0.3 per cent over the course of the year, reflecting ongoing weakness in overall market conditions.

Although home sales are projected to post modest gains, overall transaction volumes are expected to remain relatively low. Sales are not anticipated to return to pre-pandemic levels until the second half of 2027, with slower population growth and moderate hiring limiting demand. In Alberta, where the housing market has remained comparatively strong, home prices have risen 2.5 per cent so far in 2026. However, only modest price growth is expected for the remainder of the year, representing a more cautious outlook than previously forecast.

June home sales in Calgary improved from May, reaching 2,197 transactions, but remained nearly four per cent lower than the same time last year and slightly below the long-term average for the month. The slowdown was driven largely by weaker demand for apartment-style homes, while detached properties continued to show resilience. Sales have softened across most price ranges in 2026, although activity has remained stronger in both the most affordable homes and properties priced above $1 million.

Housing supply continues to reshape the market. New listings declined compared with 2025, slowing inventory growth and keeping the overall market in balanced territory with just over three months of supply. However, conditions vary by property type. Apartment condominiums have shifted firmly into a buyer’s market, with nearly five months of supply, giving buyers more choice and placing downward pressure on prices. Detached homes, by contrast, remain in a more balanced market due to tighter inventory.

Price trends reflect these changing conditions. The overall benchmark home price reached $572,500 in June, up from the previous month but two per cent lower than a year ago. Detached homes remained relatively stable, with a benchmark price of $750,500—up month over month but just over one per cent below last year. Apartment condominiums experienced the sharpest decline, with benchmark prices falling nearly nine per cent year over year to $299,000 as higher inventory and softer demand continued to weigh on the segment.

Market performance also differed across property types and neighbourhoods. Semi-detached and row homes remained generally balanced, supporting stable prices despite higher inventory than in recent years. Some areas continued to see strong price growth, while others experienced notable declines as supply outpaced demand. The greatest price weakness was concentrated in districts with the highest inventory levels, particularly for higher-density housing, while several districts reached new record highs for detached and semi-detached homes.

Communities surrounding Calgary experienced similar trends. Sales slowed in Airdrie, where increased inventory and competition from new construction contributed to lower resale prices, especially for higher-density homes. Cochrane remained relatively stable, with prices supported by tighter supply despite slower sales, while Okotoks continued to benefit from limited inventory, helping keep prices steady even as the market became more balanced than it was a year ago.

Condo affordability in Canada has improved considerably, with many markets returning to affordability levels not seen since before the pandemic. Nationally, the share of household income required to cover condo ownership costs has fallen to just over 35 per cent, bringing it close to 2019 levels. Lower condo prices, combined with rising household incomes, have made homeownership more accessible for buyers in this segment.

The strongest affordability improvements have been seen in cities such as Toronto and Victoria, where condo ownership has become more affordable than it was before the pandemic. However, the recovery has not been uniform across the country. In cities including Montreal, Quebec City, and Halifax, rapid population growth and limited housing supply have continued to keep condo prices elevated, slowing affordability gains.

Montreal has now become less affordable for condo buyers than Toronto for the first time in 16 years, while Halifax has narrowed the affordability gap significantly. Despite recent improvements, Halifax remains well above its 2019 affordability level, making it one of the markets where housing costs have increased the most since the pandemic.

Vancouver recorded the largest improvement in affordability during the first quarter of the year, although it remains Canada's least affordable housing market. Homeownership there still requires roughly 84 per cent of a typical household's pre-tax income. Toronto also posted stronger-than-average affordability gains for condos, thanks to price corrections and steady income growth. Detached homes, however, remain much less affordable, requiring more than 80 per cent of household income.

Looking ahead, further improvements in housing affordability are expected to be more challenging. Home prices have stabilized in many of Canada's major markets, and significant mortgage rate reductions appear unlikely in the near future. As a result, future affordability gains will depend largely on continued income growth, although a softer labour market could limit how much additional relief buyers receive.

Walkable communities are becoming some of the most desirable places to live in Calgary. As lifestyle preferences continue to evolve, more homebuyers are prioritizing neighbourhoods where everyday essentials, parks, restaurants, and local amenities are just a short stroll away.

Living in a walkable neighbourhood offers more than convenience. It encourages an active lifestyle, creates opportunities to connect with the community, and makes it easier to enjoy everything a neighbourhood has to offer without relying on a vehicle for every trip.

Many of Calgary's most sought-after communities were designed with walkability in mind, featuring tree-lined streets, nearby shops, green spaces, and easy access to pathways. These neighbourhoods continue to attract strong interest from buyers looking for both lifestyle and long-term value.

Homes in highly walkable areas often see increased demand because of their location and convenience. They also tend to appeal to a wide range of buyers, making them an attractive option for homeowners, investors, and those thinking about future resale value.

If you're considering a walkable neighbourhood, take the time to explore it on foot. Pay attention to the sidewalks, parks, lighting, nearby amenities, and overall atmosphere—you may discover that the perfect home is about more than the house itself; it's about the lifestyle that comes with it.

Housing conditions in Calgary are expected to continue shifting toward more balanced territory in 2026 as slower population growth is met with increasing supply following several years of elevated construction activity.

Resale market activity has softened more than initially expected, particularly in higher-density segments. This is being driven by greater choice across resale, new-home, and rental markets, which is limiting seasonal price strength and contributing to a higher overall level of supply relative to demand.

Apartment-style housing has seen the most significant change in conditions. Record levels of new construction have added rental supply while reduced international migration has weakened demand, leading to higher vacancy rates, softer rents, and increased landlord incentives in some cases.

These factors have also reduced investor demand and slowed resale activity in the apartment and row-style segments. With more options available to buyers across both new and resale markets, prices in the apartment condominium sector are under downward pressure, with declines exceeding earlier expectations and limited seasonal recovery.

In contrast, detached housing remains comparatively stable. Although sales have eased, inventory remains relatively constrained and conditions are closer to balanced, with some areas still favouring sellers. Price adjustments have been more localized, primarily where new-home competition overlaps with resale supply in similar price ranges.

Nearly half of residents in Canada’s largest metropolitan areas are considering a move to more affordable communities, according to a recent survey. The findings show that 55 per cent of respondents in the Greater Toronto Area, 48 per cent in the Greater Montreal Area and 46 per cent in Greater Vancouver would consider relocating to one of the country’s most affordable cities if they could find local employment or continue working remotely.

The survey suggests that housing affordability remains a major concern despite recent declines in home prices across several high-cost markets. While housing costs have moderated in some regions over the past two years, many prospective buyers still find homeownership out of reach, leading them to explore opportunities in smaller and less expensive cities.

Lethbridge, Alberta, ranked as Canada’s most affordable city, with households requiring just 18.9 per cent of their monthly income to cover mortgage payments. Saint John, New Brunswick, placed second, followed by Thunder Bay, Ontario. Red Deer, Alberta, and Regina, Saskatchewan, rounded out the top five, with each city requiring no more than a quarter of household income to service a mortgage.

Affordability improved in 61 of the 62 Canadian cities analyzed between 2024 and 2026. Some of the largest gains were recorded in higher-priced markets such as West Vancouver, Richmond, Markham, North Vancouver and Milton, where the share of income needed for mortgage payments declined significantly. In contrast, affordability gains were more modest in cities such as Red Deer, Trois-Rivières, Thunder Bay and Sherbrooke. Quebec City was the only market where affordability deteriorated, as strong home-price growth pushed ownership costs higher.

Younger Canadians were the most open to relocating for a lower cost of living. More than three-quarters of Generation Z respondents said they would consider moving, compared with 56 per cent of millennials, 51 per cent of Generation X respondents and 34 per cent of baby boomers. Lower living costs were the most commonly cited reason for considering a move, followed by a slower pace of life and the desire to live closer to nature. Among respondents from the Montreal area, Sherbrooke emerged as the most popular destination, while Edmonton was the top choice among respondents in both the Toronto and Vancouver regions.

Edmonton has emerged as one of Canada’s strongest luxury real estate markets, outperforming many larger cities in high-end home sales growth. While traditional luxury hubs such as Toronto and Vancouver have experienced slower activity, Edmonton has attracted buyers seeking larger homes, more land, and greater value. The city’s relatively affordable housing market has allowed luxury properties to remain accessible to a broader group of buyers, creating momentum that has surprised many industry observers.

A major factor behind the growth is Alberta’s population gains through interprovincial migration. Homeowners relocating from more expensive provinces often arrive with significant equity, allowing them to purchase substantially larger properties while lowering their overall housing costs. Lower transaction costs and the absence of certain taxes found in other provinces further enhance Edmonton’s appeal. However, migration alone does not explain the surge, as many luxury purchases are also being made by residents upgrading to larger homes or building custom properties.

The growth has sparked debate about how these purchases are being financed. Some market participants believe luxury real estate remains resilient because many buyers are paying cash, relying on accumulated wealth rather than borrowing. Others argue that a large share of Edmonton’s luxury buyers still depend on mortgages, often using equity from previous homes as a down payment while financing the remainder. The distinction is important because markets supported by cash buyers tend to be more insulated from economic volatility than those dependent on credit.

Part of the difference may be explained by the structure of Edmonton’s luxury market itself. Unlike Toronto or Vancouver, where luxury properties often begin at several million dollars, Edmonton’s luxury segment starts at a much lower price point. This expands the pool of potential buyers to include successful professionals, entrepreneurs, and long-time homeowners who may have substantial equity but still require financing. As a result, the market may contain both cash-rich buyers and highly leveraged households operating within the same price category.

The key question facing Edmonton’s luxury market is whether current growth is being driven primarily by wealth or by debt. While demand remains strong and affordability continues to attract buyers, a market that relies heavily on financing is more vulnerable to changes in interest rates, employment conditions, and mortgage performance. Foreclosure activity is one indicator being closely watched, as rising financial stress could quickly alter market dynamics. For now, Edmonton holds the distinction of being one of the country’s hottest luxury housing markets, but its long-term strength will depend on the financial foundation supporting today’s sales.

The Canadian housing market showed a gradual but uneven rebound in May 2026, with national home sales rising 5.5% month over month, though still about 5% below year-ago levels. Gains were disproportionately driven by activity in Ontario, suggesting regional strength rather than a fully broad-based national surge. At the same time, new listings edged down about 1%, helping improve the balance between supply and demand. The sales-to-new-listings ratio tightened to just under 50%, indicating conditions are moving closer to a balanced market but not yet firmly in seller-favored territory.

Prices largely stabilized after earlier softness in the year. The MLS Home Price Index slipped only 0.1% month over month, while still showing a roughly 4% year-over-year decline, though this marked the smallest annual drop so far in 2026. The national average home price rose about 1.5% year over year to roughly $702,000, reaching its highest level in two years. These trends, along with shorter listing times and firmer sale-to-list price ratios, suggest that pricing pressure is easing and market expectations between buyers and sellers are becoming more aligned.

Supply conditions remained steady, with total active listings holding near 200,000 and inventory sitting at about 4.8 months—close to long-term averages and consistent with a balanced market. However, regional divergence persisted, with price declines in British Columbia, Alberta, and Ontario offsetting gains elsewhere. Overall, the data points to a housing market that is no longer weakening broadly but instead transitioning into a more stable phase, characterized by gradual demand recovery, regional variation, and early signs of equilibrium rather than strong expansion.

Canada's housing market is expected to remain relatively stable in the coming months after the Bank of Canada held its key interest rate at 2.25 per cent for the fifth consecutive time. Mortgage experts suggest borrowing costs are unlikely to decline further and may be more likely to rise than fall. As a result, some believe current conditions could represent a favorable opportunity for motivated buyers, with affordability potentially reaching its lowest point. Recent housing data has also shown modest improvements in sales activity, indicating that demand may be gradually returning and could eventually place upward pressure on home prices.

Despite these signs of improvement, many industry professionals remain cautious about the pace of any recovery. Buyers today are paying closer attention to economic conditions, job security, and overall housing costs rather than simply responding to interest-rate announcements. Affordability continues to be a major challenge, as both home prices and mortgage rates remain elevated. Without a meaningful change in borrowing costs or broader economic conditions, some experts believe the housing market is unlikely to experience a significant turnaround in the near future.

Homeowners approaching mortgage renewal are facing their own set of challenges. Fixed mortgage rates remain high due to elevated bond yields, which have been influenced by factors such as inflation concerns, rising oil prices, and global economic uncertainty. At the same time, lower home values may create refinancing difficulties for some households by reducing the amount of equity available in their properties. If home prices remain subdued, a growing number of homeowners could struggle to meet lender requirements when renewing or refinancing their mortgages, increasing financial pressure for those already managing higher housing costs.