The Edmonton real estate market is experiencing continued growth into 2025, with notable increases in home sales and new listings. In March 2025, there were 2,494 homes sold in the greater Edmonton area, marking a 36.9% increase from the previous month and a 1.3% rise compared to March 2024. New listings for homes also surged, with a 44.5% jump from February and a 7.5% increase year-over-year. This strong market performance has surpassed initial predictions for 2025, highlighting a resilient real estate environment despite external factors such as tariffs on Canadian goods.
A major driver of this growth is the affordability of Edmonton’s housing market, particularly when compared to other major Canadian cities like Calgary. The price gap between Edmonton and Calgary remains significant, with a $200,000 difference in housing costs. This affordability continues to attract people to the Edmonton area, bolstering the demand for homes and keeping prices strong. The average price of detached homes in Edmonton is $574,872, representing a 1.2% increase from February and an 11.2% rise compared to the previous year. Other housing types, including semi-detached homes, townhouses, and apartments, have also seen significant price hikes, ranging from 12% to 20%.
In addition to rising home prices, the market has seen a shift in the types of properties being sold. There was a notable increase in detached home sales in March, likely driven by families looking to settle in areas with good schools. However, the surge in housing demand has led to some challenges, such as a shortage of inventory. A large portion of recent housing projects have been rental-based, contributing to a lack of supply for people seeking to purchase homes.
Despite these supply issues, the overall market remains strong, with multiple offers being made on homes in the $450,000-$550,000 range. While the impact of U.S. tariffs on building materials is expected to affect new home builds, Edmonton’s real estate market continues to show resilience, with price increases and strong sales across all housing categories.