Edmonton real estate market growing despite U.S. trade war concerns: report

If you’re looking to sell a home in Edmonton, the time might be now, according to one report saying the market is booming.

Real estate group Royal LePage released its first 2025 quarterly home price update and market forecast on Tuesday.

They say even though Canada and the U.S. are at ends, and more than half of the people surveyed in a recent poll say they aren’t confident in Canada’s economy, there’s no shortage of folks looking to buy, and prices are on the rise.

“Instead of being a white-hot real estate market, it’s just a hot market,” said Tom Shearer, a broker and owner of Royal LePage Noralta Real Estate.

Shearer says the trade conflict has had an impact on the housing market, but it’s been minimal. Adding, anyone who isn’t just testing the market can look forward to selling their home.

“If people were to ask me, well, could I get 25 or 30 per cent compared to last year, I’d say no, not quite. It’s more like you’re probably in that 8 to 12 per cent up compared to last year,” Shearer explained.

The report says the median cost of a single-family detached home is up 8.5 per cent year over year to about $526,000. And the only thing keeping Edmonton from a record-breaking year in terms of homes sold, there aren’t enough homes on the market to keep pace with demand.

That has some Edmontonians feeling uneasy about their chances of owning a home.

“If I could buy a home, I would, but not in this economy,” said one Edmontonian.

Another saying, “It feels like it’s only gotten worse over time. Like, I should’ve bought a house when I was 8-years-old.”

Alberta’s premier boasting on social media Tuesday, the province leads all of Canada in 2025 housing starts, but Erick Yip a realtor with RE/MAX Elite, says even that feat isn’t enough to please those waiting in line to buy.

“The majority of homes under $450,000, you’re definitely going to be competing, and I’ve seen some cases where there has been as many as 22 buyers for bidding on one home,” said Yip.

Yip says a home usually sells within a week of hitting the market, as long as the price and showings go well.

Alberta’s homebuilders know they’ve got a lot of work ahead, but they say they’re ready for the challenge.

With Scott Fash, the CEO of BILD Alberta, saying in a statement, “2024 marked a record-breaking year for housing starts in both alberta and edmonton, demonstrating that the industry is responding to the surge in demand and population growth […] while we anticipate some moderation in the second half of the year, the overall outlook remains positive.”

Royal LePage expects the hot spring market, with prices continuing to rise over the next couple of months, before cooling slightly in the summer months.