The Edmonton-area real estate market experienced a notable slowdown last month, reflecting both seasonal factors and buyer caution. According to the Realtors Association of Edmonton’s February report, sales and new listings declined year-over-year, while overall inventory and days on market edged higher.
Key Takeaways
- Home sales fell 18.1% to 1,076 units compared with February of last year.
- New listings also dropped by 18.1%, totaling 2,666.
- The MLS®® benchmark price rose modestly by 1.1% to $431,100.
Sales and Listings Activity
Following the post-holiday lull and colder weather, February’s transactions slowed significantly. While demand cooled, sellers placed fewer homes on the market, contributing to a more balanced—but still elevated—inventory level.
- Active listings grew 5.5% to 8,332 properties.
- Months of inventory climbed to 7.7, up from 6.9 a year ago.
- The average days on market reached 58, compared with 55.6 in February 2023.
Pricing Trends by Housing Type
Overall price growth was restrained, but each segment posted marginal gains:
- Detached homes: $502,600 (+0.1%)
- Apartment condos: $255,500 (+0.8%)
- Row houses: $304,700 (+0.7%)
- Semi-detached: $365,200 (+0.4%)
Market Outlook
With interest rates remaining elevated and consumer sentiment cautious, activity may stay subdued until spring. However, limited new supply and stable price fundamentals suggest a gradual recovery in buyer confidence once the market warms up.
