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Edmonton Condo Market Update: April 2025
As we approach mid-2025, the Edmonton condo market is showing several notable shifts that could impact buyers, sellers, and investors alike. Understanding these trends is crucial for anyone looking to enter Edmonton’s real estate scene. Whether you are a first-time condo buyer, an investor looking to expand your portfolio, or a seller looking to list your property, this market update provides the insights you need to make informed decisions.
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Edmonton Condo New Listings
There were 671 new condo listings in April 2025, marking a 7.45% decrease from the 725 listings in April 2024.
Average List Price Condo
The average asking price for condos in Edmonton has seen a 5.66% decrease, dropping to $235,000 from $249,000 in April 2024.
Condo Sales Edmonton
361 condos were sold in April 2025, representing a significant 19.60% decrease from the 449 condos sold in April 2024. This decrease highlights a reduction in transaction volume for the month.
Average Sale Price Edmonton Condos
The average sale price for condos in April 2025 was $213,000, reflecting a 6.57% increase from the previous year. Year-to-date, this figure has increased by 11.71%, reaching $211,000 compared to $189,000 at the same time in 2024.
Average Ask-to-Sell Ratio: The average ask-to-sell ratio is now 0.973, representing a slight increase from 0.968 in 2024. This indicates that condos are selling closer to their asking price, signifying a more stable market.
Average Days on Market
Condos in Edmonton are selling more quickly, with the average days on market decreasing by 27.03%, from 72 days in April 2024 to just 54 days in April 2025.
These numbers provide valuable context for understanding the current trends in Edmonton’s condo market.
1. Decrease in Condo Sales Volume
The Edmonton condo market has seen a significant drop in sales volume, with 361 condos sold in April 2025, a 19.60% decrease from April 2024. While this decrease may seem concerning, it is essential to view this data in the context of the broader market. The overall YTD (year-to-date) figure still reflects a slight dip of 3.35%, with 1,240 condos sold in 2025 compared to 1,283 sold in 2024.
What This Means for Buyers: If you are a buyer, this slowdown could present an opportunity to find condos with less competition. With fewer properties being sold, it could be easier to negotiate favourable prices and terms.
What This Means for Sellers: For sellers, this decrease in sales volume suggests that it might take longer to sell your condo compared to previous years. However, with the reduction in days on market and the increase in asking-to-sell ratios, pricing your condo competitively remains crucial to attracting buyers.
2. Changes in Asking Prices
The average asking price for condos in Edmonton has decreased by 5.66%, from $249,000 in April 2024 to $235,000 in April 2025. This drop in asking prices reflects a shift in seller expectations as market conditions adjust. However, the year-to-date figures show a more modest increase of 0.41%, with asking prices averaging $242,000 in 2025 compared to $241,000 in 2024.
What This Means for Buyers: As a buyer, the slight decrease in asking prices may give you an opportunity to secure a condo at a lower price point than last year. However, it’s important to note that pricing trends are fluctuating, and the market can change quickly, so acting fast might be in your best interest.
What This Means for Sellers: Sellers will need to be mindful of the price adjustments in the market. While a lower asking price might attract more interest, it could also mean a reduction in overall sale price. Understanding the balance between asking price and final sale price is key to a successful transaction.
3. The Surge in Sale Prices
Despite a decrease in the number of condos sold and lower asking prices, the average sale price for condos in Edmonton has increased by 6.57%, reaching $213,000 in April 2025 compared to $200,000 in April 2024. Year-to-date, the average sale price is $211,000, reflecting an 11.71% increase compared to the same period in 2024.
What This Means for Buyers: For buyers, this price increase signals that Edmonton’s condo market continues to appreciate. If you’re planning to buy a condo, now may be a good time to lock in a purchase before prices rise even further.
What This Means for Sellers: The rise in sale prices suggests that sellers may still be able to secure strong returns on their properties despite the decrease in volume. With sale prices rising, sellers may be able to maximize profits even if their condo takes slightly longer to sell.
4. Faster Condo Sales: Decreased Days on Market
One of the most promising signs in Edmonton’s condo market is the reduction in the average days on market, which has decreased by 27.03%, from 72 days in April 2024 to just 54 days in April 2025. This is a clear indication that condos are selling faster in Edmonton, which is good news for both buyers and sellers.
What This Means for Buyers: Buyers will need to be prepared to act quickly, as condos are moving off the market faster than in previous years. Ensuring that your financing is in place and having a clear idea of your preferences will allow you to move quickly when you find the right property.
What This Means for Sellers: Sellers benefit from this trend because their properties are likely to sell faster, allowing them to complete their transactions and move forward with their next steps more quickly. However, pricing remains crucial to ensure that condos don’t stay on the market too long.
5. New Listings in Decline
New listings in Edmonton’s condo market have decreased by 7.45%, from 725 in April 2024 to 671 in April 2025. This reduction in new inventory could lead to higher demand for the available condos, especially if fewer new units are entering the market.
What This Means for Buyers: With fewer new listings, competition for available condos could increase, which could lead to faster sales and potentially higher prices. Buyers may need to be more proactive and consider exploring a variety of options to find a suitable condo.
What This Means for Sellers: Fewer listings mean less competition for sellers, so those with well-priced, well-maintained properties are likely to attract more attention. Listing your condo at the right time, especially when inventory is low, could help you achieve a quicker sale.
Data provided by the REALTORS® Association of Edmonton and subject to change. Always consult with a real estate professional for the most current market information.
If you would like more information on the Edmonton condo market contact Chris Reid
