Edmonton’s housing market continues to recover from the recession, and it’s starting to see positive signs.
Activity in Edmonton’s housing market was driven primarily by first-time buyers due to affordability and move-up buyers who were interested in flat sales prices. Prices are expected to remain consistent throughout the year with a healthy inventory of six-and-a-half months. The OSFI stress test rules have had the most impact on price and activity this year. The Windermere neighbourhood in southwest Edmonton is expected to continue to grow and attract more residents.
Main Points for Edmonton:
- Average residential sale prices have gone up 2.4% from 2017.
- The year-over-year average condo price has gone down 2.5% from 2017.
- Typical price range for first time buyers is $270K - $350K and
- Typical range for luxury homes ranges from $1.5 mil - $3 mil.