Greater Edmonton Area Real Estate Market Report by Paul Zieba, Mortgage Broker

New listings: 670 (-11% from last week)

Sales: 413 (-17% from last week)

Average price: $455K (+3% from last week)

Median price: $430K (-1% from last week)

The Market Hit Pause – But Prices Held Strong

Last week the Greater Edmonton Area bounced back with sales up 16%. This week? Both activity metrics dropped: sales fell 17% and new listings declined 11%.

However, here’s the story in the price data: average price climbed from $444K to $455K (+$11K) while median price dipped slightly from $434K to $430K (-$4K). As a result, this tells us the market slowed down, but pricing fundamentals remained stable.

Sales Dropped Faster Than Listings

Sales fell 17% while new listings only dropped 11%. Therefore, the decline in activity was more buyer-driven than seller-driven. In fact, with 670 new properties entering the market but only 413 selling, inventory grew relative to sales velocity.

Nevertheless, the gap between these two numbers (6 percentage points) suggests buyers became more selective this week rather than disappearing entirely.

Average Up, Median Flat: What This Means

Average price increased 3% to $455K while median price stayed essentially flat at $430K (down just 1%). Consequently, this divergence indicates higher-priced properties performed better relative to mid-range homes this week.

Furthermore, when average rises while median holds steady, it typically signals activity in the upper price segments of the market remained consistent even as overall transaction volume declined.

What This Means for Buyers

With sales down 17%, competition decreased week-over-week. Additionally, more inventory relative to sales means you have more options and potentially more negotiating room than last week.

However, median price holding at $430K (down only 1%) shows sellers aren’t panicking on pricing. Therefore, this isn’t a market where dramatic discounts are widespread – it’s a market where strategic buyers can be more deliberate.

What This Means for Sellers

New listings dropped 11%, meaning you have less direct competition than last week. Nevertheless, sales dropped even more at 17%, so buyers are being more selective.

As a result, pricing accuracy matters more now. Furthermore, average price climbing 3% suggests well-positioned properties are still achieving strong values – but you need to be realistic about where your property fits in the current market.

The Bigger Picture

This week’s data shows a market in transition. In fact, both buyers and sellers pulled back slightly, creating a more balanced environment than the surge we saw last week.

Nevertheless, price stability remained intact. Consequently, this isn’t a correction – it’s a market finding equilibrium after last week’s 16% sales spike.

Questions About Your Mortgage Options in This Market?

Market conditions change week to week. Therefore, let’s discuss how these numbers impact your specific mortgage situation.

Paul Zieba – Edmonton Mortgage Broker

📞 780-619-4901
📧 pzieba@mortgageconnection.ca