Edmonton’s real estate market at the midpoint of 2026 is offering more options for buyers, with sales cooling and inventory rising significantly compared to last year. The Realtors Association of Edmonton reports that May sales fell 14% year-over-year while inventory surged nearly 24%, creating a balanced market that favours first-time homebuyers.
More Inventory, Less Competition
“It’s tapered off a bit,” says Darlene Reid, local realtor and chair of the Realtors Association of Edmonton. “And that’s a good opportunity for first-time homebuyers because they’re not competing against so many other buyers with more inventory to choose from.”
The mid-year update from the association highlights that the market is cooler than in previous years when Edmonton saw record resale activity. The townhome and apartment condo segments are particularly saturated, giving buyers leverage.
Condos in Buyers’ Market, Single-Family Homes Still Sought
While overall conditions are balanced, condominiums remain in a buyers’ market, whereas single-family detached homes continue to attract strong demand. Year to date, resales are down across all categories except semi-detached homes, which have risen about 6%.
Reid points to record-high new home construction in 2024 and 2025, which added rental units, condos, and townhomes to the market, intensifying competition for resale properties. At the same time, federal immigration policy changes have led to negative population growth for Canada, reducing overall demand.
Interprovincial Migration Fuels Detached Home Demand
Despite the national trend, Edmonton remains a magnet for interprovincial migrants from British Columbia and Ontario. “We’re still seeing a lot of people moving from B.C. and Ontario because we remain among the most affordable major cities,” Reid says.
These newcomers are driving demand for affordable single-family homes, which Edmonton still offers in abundance compared to larger markets. “Detached homes remain very desirable and attainable,” Reid adds. “We’re still seeing multiple offers where homes that show and are priced reasonably well are moving fast.”
Localized Hotspots and Future Outlook
Rob DeJong, associate realtor with Schmidt Realty Group Inc., notes that while the overall market is moving at a “less furious pace” than the past two years, “certain localized markets have remained very strong.” He cites St. Albert, a bedroom community northwest of Edmonton, where 62% of single-family homes priced between $400,000 and $600,000 sold above list price. In contrast, only 32% of homes in that range sold above list across all of Edmonton.
“Moving forward, inventory levels will likely be the largest influencer on market pace,” DeJong says. He expects single-family homes to continue favouring sellers, while condos will lean increasingly toward buyers for the remainder of 2026.
Condo Conversions and Market Stability
Reid suggests that condo conversions—where large investors buy out existing owners and turn units into rentals—could provide some support for the apartment segment. “That could address inventory issues for the apartment segment,” she says, though she predicts the resale condo market will remain soft for several months.
Overall, Edmonton’s resale market is expected to see more price and supply stability ahead. “We’re expecting to see a return to more normal, seasonal trends in prices and demand for the remainder of this year,” Reid concludes.
