Over the past two years, Edmonton’s housing market has seen a dramatic increase in home prices—rising by nearly $80,000. While other major Canadian cities continue to struggle with affordability, Edmonton is quickly becoming one of the most talked-about real estate markets in the country.
📈 How Much Have Edmonton Home Prices Gone Up?
In May 2023, the average home price in Edmonton sat around $420,507. Fast-forward to May 2025, and that number has climbed to $464,277—an increase of nearly $44,000, with even higher gains seen in detached homes and high-demand areas. (WOWA)
Some experts estimate the total market appreciation for many home types is closer to $80,000 when factoring in the 11% year-over-year increase and improvements in benchmark pricing across housing categories.
The benchmark price for single-family homes alone is now $518,500—up 11% from the year prior. (WOWA)
🏘️ Why Are Edmonton Home Prices Climbing?
Several key factors are driving this sharp increase in Edmonton real estate values:
- Interprovincial Migration
Buyers from Ontario and BC are relocating for Edmonton’s lower cost of living, work opportunities, and lifestyle. This migration trend is adding pressure to an already tight housing supply.
(RE/MAX) - Low Inventory
New housing starts haven’t kept up with population growth. Edmonton is currently facing a supply shortage, especially in single-family and semi-detached homes.
(Taproot Edmonton) - Economic Growth & Stability
Edmonton’s growing job market—particularly in sectors like energy, tech, and healthcare—continues to attract skilled workers and first-time homebuyers.
(Mortgage Sandbox)
🔍 Market Outlook: What’s Next for Edmonton?
RE/MAX Canada is forecasting that average residential prices in Edmonton will rise another 10% in 2025, supported by steady demand and relative affordability compared to other cities. (RE/MAX)
That said, challenges remain. Affordability could be affected if inventory doesn’t increase or if mortgage rates fluctuate further. But for now, Edmonton remains one of Canada’s strongest real estate stories.
📝 Final Thoughts
Edmonton’s $80K increase in home values over just two years reflects a powerful shift in the Canadian real estate landscape. With strong interprovincial migration, limited housing supply, and a resilient local economy, the city is quickly becoming a hot spot for both investors and end-users alike.
Whether you’re a buyer, seller, or real estate agent—this is a market worth watching.
📚 Sources
- WOWA.ca. “Edmonton Housing Market Update – June 2025.”
https://wowa.ca/edmonton-housing-market - Nesto. “Edmonton Housing Market Outlook 2025.”
https://www.nesto.ca/mortgage-basics/edmonton-housing-market-outlook - RE/MAX Canada. “Edmonton Real Estate Market Outlook 2025.”
https://blog.remax.ca/edmonton-housing-market-outlook - Taproot Edmonton. “Would More Housing Supply Slow Rising Prices?”
https://edmonton.taproot.news/news/2024/10/30/would-building-more-supply-slow-edmontons-rising-home-prices - Mortgage Sandbox. “Edmonton Real Estate Forecast 2025-2027.”
https://www.mortgagesandbox.com/edmonton-real-estate-forecast
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