2021 Edmonton Real Estate Market Year In Review REMAX









2021 was a year of resilience, creativity and growth not only from our agents, staff and clients but the world overall. Covid-19 has left its imprint on how we live, work and play and for many people, this shift has propelled them to make big life changes and re-evaluate where they spend their time and energy. Our agents spent 2021 dialling in how they serve their clients in this new normal because real estate didn’t slow down the pace of the market was fast and furious.


The spring market started with a bang, total residential unit sales in the Greater Edmonton Area (GEA)* real estate market for January 2021 increased 47.1% compared to January 2020 and increased 5.9% from December 2020.  Single-family homes sold for an average of $427,677, a 3.2% year-over-year increase from January 2020.


By May 2021 total residential unit sales in the Greater Edmonton Area (GEA) real estate market increased 137.1% compared to May 2020 and single-family homes averaged $465,551, a 12.9% year-over-year increase.



In 2021, more agents than ever are working with buyers remotely utilizing tools like video, facetime and zoom to connect and build their relationships with their clients. Additionally, with an influx of buyers relocating to less expensive communities, they can work remotely and Edmonton is the perfect location to build an abundant future.


REMAX River City hit the ground running in 2021 by acquiring a new location in north Edmonton, REMAX Select, now having three strategic locations to serve clients better (St.Albert Trail, Old Strathcona and South Edmonton on Calgary Trail) this has given us the ability to help more client and with greater reach.



Our office is reaching goals and hitting amazing milestones, here are some 2021 highlights:



- 133 kilograms of food was donated to the Edmonton Food Bank
- We hit over 1 million in donations to the Children’s Miracle Network

Broker/Owner of the Year
- We had over 80 training sessions
- 9 sales meetings
- 313 nightly emails

- 11 agents and 4 teams were the most reviewed in all of Canada by RankMyAgent (total office reviews hit over 3200 at the end of 2021).


READ RankMyAgent Reviews Here:
REMAX River CIty Strathcona
, REMAX River City St. Albert Trail,
REMAX River City South,
REMAX River City Beaumont 


We want our agents to learn and grow and feel supported every step of the way, these accomplishments show the passion in our office.


While many people had great success purchasing homes or growing their real estate careers, Edmonton had more people in need than ever before. The Edmonton Foodbank struggling to keep up with demand and more small charities were supported by the Edmonton REALTORS® Community Foundation than in prior years. Community giving is a big part of why agents join REMAX, our success is your success and giving back is an important cornerstone to the foundation of what we believe at REMAX River City and that is why is are proud to have given $153,091 to local charities in 2021. 


 


As the year began to close and winter settled in the total residential unit sales in the Greater Edmonton Area (GEA) real estate market for December 2021 increased 19.5% compared to December 2020 and single-family home unit sales are up 16.5% from December 2020. Condo unit sales increased 25.6% from December 2020 and duplex/rowhouse unit sales were up 16.8% year-over-year. 


 


The busy market proved to be dominated by REMAX, in Edmonton, REMAX agents were the top brand and served 38% of the market, helping 22,565 families. Our office did $2.13 billion in real estate sales in 2021! That included luxury home sales growing by 64% in 2021 and REMAX River City collections luxury agents represented 30% of all luxury sales in Edmonton that included local sports players, high net worth families and out-of-market buyers. REMAX Collection and luxury sales are expected to grow again in 2022. The regional housing market is not a Canadian housing marketing and Edmonton is a standout and is on sale – Demand is driving the prices up and our agents are prepared to serve and support their clients. Edmonton Journal Article from Feb 4th, 2021.  It is more important than ever to Price your home correctly.


Commercial real estate in Edmonton is also growing, we saw an increase in demand for investment properties, investment sales, leasing and business sales, we completed a total of 53 commercial real estate transactions in 2021 for clients. 



With 2021 now behind us, looking back at almost two years of a global pandemic and a fundamental shift in the way business is done, the resilience of Edmonton is proven every day by kindness and hard work. People are changing the way they purchase, the way they celebrate, the way they work and play and the real estate industry in Edmonton is a perfect example of these things. Businesses are choosing to make Edmonton their home, families are changing the way they use the space of their homes and people are choosing Edmonton, a beautiful city with amazing culture, business and amenities to call home. 


  


Results prove what consumers want and REMAX River City has proven again and again that REMAX has impact, industry-leading REALTOR® training and a passion for our community. We are a business that builds businesses and produces great REALTORS®. We look forward to seeing what the market brings in 2022 but what we know is our agents will be supporting and serving their clients with best in class market share, knowledge, cutting edge strategies and results.  



*Based on MLS® Sales 2021

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Data is deemed reliable but is not guaranteed accurate by the REALTORS® Association of Edmonton.
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