Edmonton Condo Market Update: February 2025

The Edmonton condo market in early 2025 presents a dynamic landscape for both buyers and sellers. Understanding the latest trends, price fluctuations, and market statistics is essential for anyone interested in investing or purchasing a condo in this vibrant city. As a city known for its growing economy and diverse neighbourhoods, Edmonton’s condo market is showing signs of both challenges and opportunities. In this blog, we’ll explore the key factors driving Edmonton’s condo market in February 2025, with insights into sales trends, price changes, and the outlook for the upcoming months.

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Edmonton Condo New Listings

There were 438 new condo listings in February 2025, representing a decrease of 9.32% from the 483 new listings in February 2024.

New condo listings in Edmonton have decreased slightly by 9.32% in February 2025 compared to February 2024, signalling a potential shift in inventory levels. On a year-to-date basis, there has been a slight decrease of 0.78% in new listings, which may indicate that condo owners are holding onto their properties longer or choosing not to list at this time.

With fewer new listings entering the market, buyers may face more competition for available units. Sellers should take advantage of this lower inventory level to stand out and attract buyers who are eager to purchase.

Average List Price Condo

The average asking price for condos has decreased by 4.37%, dropping to $234,000 in February 2025 from $242,000 in February 2024. However, the average asking price has increased by 3.68% on a YTD basis, from $251,000 in 2024 to $260,000 in 2025. The YTD figures show a slight increase in asking prices, which suggests that the drop in asking prices is more of a short-term fluctuation than a long-term trend. This could be due to adjustments made by sellers in response to the decrease in sales volume during February.

For sellers, this presents an opportunity to assess pricing strategies carefully. While asking prices may need to be adjusted to reflect market conditions, there is still potential for strong sale prices due to the ongoing demand in the Edmonton condo market. Buyers should be aware of asking price fluctuations and evaluate their budget accordingly to ensure they can remain competitive.

Condo Sales Edmonton

260 condos sold in February 2025, a decrease of 11.86% compared to February 2024. While the number of condos sold in February 2025 has decreased it’s important to note that there has been a modest increase in sales on a YTD basis, suggesting a more stable trend overall. Fewer transactions in February could be attributed to seasonal factors or potential shifts in buyer sentiment. However, with a 5.67% increase in sales year-to-date, the overall market is still showing signs of growth and resilience.

For buyers, the decrease in sales volume could signal an opportunity to enter the market during a quieter period, potentially avoiding the intense competition seen during peak market periods. Sellers may also want to capitalize on the current inventory levels, knowing that there is still consistent demand despite the seasonal dip in sales.

Average Sale Price Edmonton Condos

The average sale price has surged by 21.92%, with February 2025 seeing an average sale price of $211,000, compared to $173,000 in February 2024. YTD, the average sale price stands at $207,000, marking a 15.38% increase from $180,000 in the same period last year.

This rise in sale prices can be attributed to several factors, including increased demand for condos, limited supply, and growing investor interest in Edmonton’s real estate market. Buyers may face rising prices, but this also presents an opportunity for sellers to achieve a higher return on investment.

For investors, the 21.92% year-over-year price increase highlights the potential for long-term gains in Edmonton’s condo market. As the city continues to grow, condos are becoming an increasingly attractive option for both renters and owners, making it a lucrative market for investment properties.

Average Days on Market

Condos are selling faster, with the average days on market dropping by 6.98%, from 85 days in February 2024 to 80 days in February 2025. This indicates a quicker turnover in the market, benefiting both sellers and buyers looking for faster transactions.

For buyers, this means that acting quickly is key. With properties moving faster than before, it’s important to be prepared to make decisions promptly. Sellers, on the other hand, can benefit from the quicker turnover by listing their condos at competitive prices and capitalizing on the growing buyer interest.

What Does This Mean for Buyers and Sellers in Edmonton’s Condo Market?

For Buyers: The Edmonton condo market in February 2025 presents both challenges and opportunities. On the one hand, the surge in sale prices and decreased sales volume could indicate a more competitive market, particularly for popular properties. On the other hand, with new listings slightly down and average days on market decreasing, buyers may be able to find opportunities in the quieter periods before peak seasons.

If you’re considering buying a condo in Edmonton, it’s important to work with a knowledgeable REALTOR® who understands the nuances of the market. Being prepared to act quickly, having your financing in place, and understanding current price trends will help you navigate this competitive market effectively.

For Sellers: The Edmonton condo market remains strong, with significant price increases and faster sales. Sellers can take advantage of the current market by listing their properties now to capitalize on higher asking prices and quicker turnovers. However, it’s important to price properties competitively to ensure a successful sale.

Sellers should also be mindful of the slight drop in new listings and consider how this affects the overall supply and demand. Properties that are priced correctly and marketed well are likely to attract more interest and sell faster.

Edmonton Condo Market Outlook for the Rest of 2025

As we move further into 2025, the outlook for Edmonton’s condo market remains positive. The ongoing increase in sale prices, coupled with strong demand and limited inventory, suggests that the market will continue to be competitive. Buyers and sellers should expect more of the same in terms of quicker sales, rising prices, and fluctuating listings.

Investors looking to enter the Edmonton condo market should be optimistic about the long-term potential for price appreciation and rental demand. With Edmonton’s growing economy and increasing population, condos are becoming a more popular choice for both homebuyers and renters.

Conclusion

Edmonton’s condo market in February 2025 presents a mix of opportunities and challenges. For buyers, understanding the market’s pricing trends, being prepared to act quickly, and working with a skilled REALTOR® will be key to finding the right property. Sellers can capitalize on the strong demand and increasing sale prices by listing at competitive prices and capitalizing on the current market momentum.

With these insights in mind, Edmonton’s condo market remains a promising place for real estate transactions, offering both short-term opportunities and long-term growth potential. Whether you’re buying, selling, or investing, now is a great time to explore Edmonton’s dynamic condo market.

If you would like more information on the Edmonton condo market contact Chris Reid

City of Edmonton Website