The Alberta housing market is experiencing a unique blend of rising home prices and declining sales activity, according to the latest reports from WOWA and New Homes Alberta. As of April 2025, market data shows that while prices are increasing, buyer activity has slowed significantly, leading to higher inventory levels and changing dynamics across the province.
Calgary: Prices Up, Sales Down
Calgary’s average home price reached $646,743, representing a 6.3% increase year-over-year, based on data from WOWA. However, sales volume dropped by 22.4%, and inventory levels more than doubled. The city now has a months-of-supply metric of 2.6, indicating a more balanced market compared to the seller-favored conditions seen in 2023.
Edmonton: Market Remains Tight Despite Slower Sales
Edmonton’s market has shown a similar price increase but with slightly tighter conditions. The average home price rose to $470,447, up 9.1% year-over-year. Though sales were down 13.4%, Edmonton remains a competitive market with a months-of-supply of just 1.86, signaling ongoing demand relative to available inventory.
Smaller Markets Surge
According to WOWA and New Homes Alberta, smaller cities in Alberta are seeing some of the most dramatic price growth:
- Medicine Hat: Average price rose 19.9% to $405,204
- Grande Prairie: Average price increased 14.9% to $384,241
These gains are driven by affordability-seeking buyers and limited new housing stock in smaller urban centers.
Overall Market Takeaway
Despite rising prices, Alberta’s housing market is facing slower transactional momentum, with buyers becoming more selective and cautious. The combination of higher interest rates, affordability concerns, and increased supply may continue to moderate activity in the coming months.
Industry experts suggest monitoring local inventory, builder activity, and interest rate trends to better assess regional investment opportunities.
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