The Edmonton real estate market experienced a steady pace in August, with 1,647 homes sold across the city. This was down slightly by 15.1% month-over-month and 7.0% year-over-year, but year-to-date sales remain solid at 14,000 transactions.
Prices held relatively stable. The average residential price came in at $429,000, which is a 6.1% increase compared to last year. Detached homes averaged $551,000, semi-detached at $420,000, row/townhouses at $299,000, and apartment condominiums at $209,000. Condos saw the biggest monthly increase, up 2.9% from July, while detached homes dipped slightly but are still up 4.5% year-over-year.
New listings totaled 2,711 for the month, a 12.4% drop from July, but still 11.6% higher than last year, keeping the market supplied with fresh inventory. Current inventory sits at 5,318 active listings, translating to 3.2 months of supply— a level that leans toward balanced conditions.
Days on market showed a slight improvement compared to last year. Detached homes averaged 33 days to sell, townhomes 29 days, and condos 37 days. Buyers continue to have a reasonable window to make decisions, while sellers benefit from steady activity across most property types.
Luxury sales also stood out, with high-value properties leading the way: detached homes topped at $2.8M, semi-detached at $831K, row/townhouses at $640K, and condominiums at $980K.
Overall, August showed a balanced market with steady prices and active movement, setting the stage for the fall season where both buyers and sellers can find opportunities.