Surprising Surge in Edmonton Real Estate Listings

Edmonton's residential real estate market has seen a remarkable increase, with listings jumping by over 80% in January compared to December. This shift marks a significant rise of nearly 13% when compared to the same period last year. Following a busy housing market in 2024, this trend appears to be continuing unabated into 2025.

Unexpected Demand

Darlene Reid, the board chair for the Realtors Association of Edmonton (RAE), remarked on the surprising activity in the market, noting, "We thought people would be sitting on the sidelines a little longer, but they've surprised us." January's figures indicate that the housing market remains robust despite expectations of a slowdown during winter.

In January, the total number of residential properties sold reached nearly 1,600 units, which is a more than 12% increase from December. This uptick is encouraging for buyers, as the average price for homes in Edmonton increased only slightly by 0.8%, bringing the total to $438,278.

Remarkable Listings Growth

The biggest change from December was the number of new listings, which soared to 2,452. This represents an impressive 83.5% increase from December and a nearly 13% rise year-over-year. In comparison, January 2024 had 2,193 listings, reflecting a smaller increase of approximately 49%. Reid emphasized the unexpected nature of this influx, stating, "We did not expect to see so many listings."

Positive Market Indicators

Reid pointed to buyer confidence as a key factor in this surge. Despite broader economic concerns, including potential job losses, Edmonton's housing market remains attractive due to its affordability compared to larger cities like Vancouver and Toronto.

According to Reid, the early influx of listings indicates a potentially strong spring market ahead. "What that’s telling us is that it’s signaling that there’s a lot of buyer confidence, and it looks like we’re going to have a very early spring this year," she said.

Sales Performance Across Property Types

All types of residential properties experienced sales growth last month, except for detached homes, which saw a slight decrease of over 2% compared to January 2024. Detached properties, however, still showed a nearly 4% increase from December.

Sales in other categories saw more notable gains. Semi-detached homes rose by 20% from December and over 40% year-over-year. Rowhouses and townhouses experienced a 9% increase from December and a significant 22% compared to last January. Apartment and condominium sales improved by 39% from the previous month and 36% from the previous year.

Reid highlighted the strong demand for rowhouses and townhomes, noting they had the lowest days on the market, suggesting these property types are particularly appealing for first-time buyers and those looking to downsize.

Given the strong start to the year, expectations are set high for continued activity in the Edmonton real estate market.

Edmonton, RealEstate, Listings