The Greater Edmonton Area real estate market showed some cautious, positive signs in the start of 2025.
Residential Market
According to the RealtorsⓇ Association of Edmonton, residential sales overall had a 14.3% increase from January 2025, although the figure remains 7.1% lower than in February 2024. Notably, properties across all segments sold at faster rates in February; the RAE recommends being prepared for quick decisions.
New residential listings increased by 13.2% month-over-month; however, there was little change compared to the previous year. Overall inventory experienced an 11.4% rise from January, although it is still 13.4% lower than February 2024.
Source: RealtorsⓇ Association of Edmonton
The overall residential average selling price in the Greater Edmonton Area stood at $449,554, up 2.6% from January and 10.5% higher than February 2024.
Detached Homes
Detached homes continue to lead in both volume and price appreciation. In February, 1,015 detached units were sold, an 18.6% increase over the previous month, although sales were still 12.3% lower than the same period last year. The average selling price for detached homes was $567,913, reflecting a 1.2% month-over-month increase and an 11.9% rise compared to February 2024.
Detached homes now average 39 days on the market, a 12-day decrease from January.
Semi-Detached Homes
Semi-detached homes also maintained steady performance, with a 7.5% increase in units sold in February compared to January, and an 11.4% increase year-over-year. Their average selling price of $420,786 remained virtually unchanged from January, with a slight year-over-year increase of 8.9%. Semi-detached homes average 26 days on the market.
Row/Townhouses
Sales in the row and townhouse segment rose significantly, with a 23.4% month-over-month jump and a 3.9% increase compared to the previous year. However, the average selling price dipped by 3.5% from January 2025 to $300,818, although it was still 9.1% higher than a year ago. They averaged 28 days on the market.
Apartment Condominiums
The apartment condominium segment presented a nuanced picture. Despite a marginal decline in unit sales, which were down 0.3% from January and 9.2% year-over-year, the average selling price saw an increase of 7.3% from January to $217,373, and a more notable 19.9% rise over the previous year. Although condos still took 48 days to sell on average, this was an improvement of nine days compared to the previous month.
Rental Market and Outlook
The average rent for one-bedroom units was reported at $1,135, with a long-term monthly average of $1,293, while two-bedroom units averaged $1,828 compared to a long-term monthly average of $1,804.
Employment Trends
Edmonton’s seasonally-adjusted unemployment rate in February 2025 was 7.1%, a 0.1 percentage point decrease from the previous month and 8.4% below the June 2020 peak, although this was still above the long-run average. The city experienced a net loss of 3,200 jobs, as full-time positions fell by 3,800 while part-time roles increased by 600.
