As we close the books on 2024, Edmonton’s real estate market stands out as one of the most dynamic in Canada. This year was defined by remarkable growth, affordability, and a unique balance of opportunities for buyers, sellers, and investors. Let’s dive into the key trends and developments that shaped Edmonton’s real estate market in 2024 and look ahead to what 2025 has in store.

2024 in Review: Key Highlights

Affordability Remains Edmonton’s Strength Throughout 2024, Edmonton maintained its position as the most affordable major housing market in Canada. According to RBC Economics, homeownership costs in Edmonton consumed only 33.7% of household income—the lowest among Canada’s largest cities and well below the national average of 59.5%.

• Average Home Prices: The average price of a home in Edmonton rose to $436,401 in November 2024, marking a 15% year-over-year increase.

• Detached Homes: Prices climbed by 13% YoY to $540,320.

• Condominiums and Townhouses: Condo prices surged 16% YoY to $200,266, while townhouses saw a 6.3% increase to $288,176.

Population Growth Drives Demand Edmonton’s affordability and robust job market attracted interprovincial migrants at a record pace. With over 100,000 new residents in the past two years, demand for housing surged, particularly among first-time buyers and investors seeking properties in the $350,000 to $450,000 range.

A Seller’s Market Prevails Edmonton consistently operated as a seller’s market in 2024, with sales-to-new-listings ratios (SNLR) exceeding 60%. By November, the SNLR reached an impressive 91%, reflecting strong demand and limited inventory.

Interest Rate Adjustments Boost Activity The Bank of Canada’s five consecutive rate cuts in 2024 lowered the prime rate to 3.25% by December, significantly enhancing affordability. Buyers gained increased purchasing power, while sellers benefited from heightened competition and multiple offers on well-priced homes.

Opportunities and Challenges for 2025

RE/MAX’s 2025 Canadian Housing Market Outlook predicts another strong year for Edmonton. Here’s what to expect:

Home Prices to Rise Further

• Edmonton’s average sale price is projected to climb 10% in 2025, driven by sustained demand and limited supply.

• Sales volume is expected to grow by 4%, with first-time buyers leading the charge.

Persistent Supply Constraints

• Edmonton continues to face a construction lag, with new builds trailing the demand fueled by interprovincial migration.

• A balanced market requires a sales-to-new-listings ratio closer to 50%, but Edmonton’s current ratios consistently favor sellers.

Market Dynamics Favor Sellers

• With inventory levels remaining tight, sellers can anticipate competitive offers and favorable returns, particularly for properties in high-demand price ranges.

• For buyers, acting quickly and securing expert guidance will be key to navigating rising prices and competition.

Emerging Opportunities for Buyers

• First-time buyers and investors will find promising opportunities in townhouses, row housing, and condos, which offer a more affordable entry point compared to detached homes.

• Decreasing mortgage rates will provide relief, enabling more Edmontonians to transition from renting to homeownership.

Why Edmonton Remains a Top Choice

Edmonton’s unique combination of affordability, population growth, and economic stability positions it as a leader in Canada’s real estate market. With the lowest homeownership costs among major cities and strong demand across all property types, 2025 promises to be another banner year for the city.

• Affordable Housing: Despite anticipated price increases, Edmonton remains more accessible than Toronto, Vancouver, or Calgary.

• Strong Rental Market: Rising rents and high demand present lucrative opportunities for investors.

• Population Growth: With continued migration from Ontario and British Columbia, Edmonton’s housing market is set to thrive.

Partner with Iconic YEG Real Estate Team

Are you ready to make your real estate dreams a reality in 2025? The Iconic YEG Real Estate Team is here to guide you every step of the way, whether you’re selling your property or buying your first home.

Why Sellers Choose Iconic YEG

• Maximize Your Return: With a deep understanding of Edmonton’s market trends, we ensure your property is priced and marketed to attract competitive offers.

• Standout Marketing Strategies: From professional staging and high-quality photography to targeted digital campaigns, we showcase your home’s best features to a wide audience.

• Expert Negotiation: Our team’s proven negotiation skills ensure you get the best possible return on your investment.

Get FREE 2025 House Evaluation

Why Buyers Trust Iconic YEG

• Local Expertise: We help you find the perfect home by providing insights into Edmonton’s neighborhoods, growth areas, and emerging opportunities.

• Seamless Process: From securing mortgage pre-approvals to navigating closing details, we simplify the home-buying journey.

• Tailored Guidance: Whether you’re a first-time buyer or an experienced investor, we create personalized strategies to meet your unique needs.

Top Edmonton Neighbourhoods to Buy in 2025

Your Real Estate Partner in 2025

The Edmonton market is full of opportunities, and now is the time to take advantage of them. Whether you’re looking to sell your home for top dollar or find your dream property, Iconic YEG is your trusted partner for success.

Contact us today at 587-336-3176 to learn how we can help you achieve your real estate goals. Let’s make 2025 your most successful year yet!

FREE 2025 MARKET EVALUATION

Edmonton is on the verge of a transformative year in real estate. With rising prices, surging demand, and a shrinking inventory of available homes, 2025 is shaping up to be one of the most competitive markets in recent history. If you’re a homeowner in Edmonton, now is the time to plan your next move. Waiting too long could mean missing out on one of the best opportunities to sell in years.

The Numbers Don’t Lie: Edmonton’s Housing Market is Heating Up

According to a Royal LePage report, Edmonton is set to see a 9% increase in home prices by the end of 2025. For single-family detached homes, the outlook is even more impressive, with prices projected to climb 12% to an average of $554,288.

This rapid appreciation is driven by a perfect storm of factors:

• Westward Migration: Edmonton’s affordability continues to attract buyers from pricier markets like Calgary and Toronto.

• Shrinking Inventory: The supply of homes is dwindling, with most properties being snapped up as soon as they hit the market.

• Strong Demand: A growing population and interest rate cuts are pushing more buyers into the market.

For sellers, this means one thing: your property is in demand.

Why Waiting Could Cost You

The spring market in 2025 is expected to bring a new wave of buyers, but with inventory levels already low, competition will be fierce. While rising prices are great news for sellers, they also signal a tighter market where buyers may struggle to find the perfect home.

If you wait until the market heats up, you could face challenges like:

• Overwhelming Competition: More sellers entering the market means your home might not stand out.

• Buyer Fatigue: Rising prices could push buyers to their limits, reducing the pool of qualified candidates.

• Longer Sales Processes: With so many homes on the market in spring, the time to close a deal could stretch longer than expected.

By planning now and listing early in 2025, you’ll position your home as a top choice for eager buyers before the market becomes saturated.

Edmonton’s Unique Edge: Affordability and Opportunity

Unlike other Canadian cities, Edmonton offers a balanced mix of affordability and opportunity. With an average home price of just $437,237 (as of late 2024), Edmonton is still a steal compared to markets like Toronto or Vancouver. This affordability is driving migration to the city, boosting demand for homes at all price points.

But don’t let affordability fool you—Edmonton’s prices are rising fast. The 12.4% increase in home prices over the past year shows that the window for buying low and selling high is closing quickly.

Set Yourself Up for Success in 2025

Selling your home isn’t just about timing—it’s about strategy. Here’s how you can prepare for a successful sale in the new year:

1. Get a Market Evaluation Now
   Understanding your home’s current value is the first step to maximizing your return. I’ll provide a free, no-obligation evaluation to help you see where you stand.

2. Make Strategic Updates
   Small improvements can lead to big returns. I’ll guide you on what buyers are looking for in 2025, so you can focus on updates that matter.

3. Plan Your Move
   Whether you’re upgrading, downsizing, or relocating, having a clear plan for your next step will make the selling process smoother and more rewarding.

Why Work With ICONIC YEG?

As Edmonton’s market evolves, you need a real estate partner who knows the city inside and out. At ICONIC YEG, I specialize in creating tailored strategies that get results. When you work with me, you’ll benefit from:

• Expert Pricing: I’ll position your home to attract the best offers.

• Strategic Marketing: From professional staging to targeted online campaigns, I’ll make your home stand out.

• Personalized Service: Selling a home is personal, and I’ll be with you every step of the way to ensure your experience is smooth and successful.

Don’t Wait—Start Planning Today

Edmonton’s housing market is on the rise, and 2025 promises to be a year of incredible opportunities for home sellers. Don’t miss your chance to capitalize on this momentum.

📞 Call or Text Me Today: 587-336-3176
📧 Email: caitlin@iconicyeg.com
🌐 Visit: www.iconicyeg.com

Let’s make 2025 your most ICONIC year yet. Together, we’ll turn your home sale into a success story.

The Bank of Canada’s fifth consecutive rate cut, bringing the prime rate to 3.25%, is a game-changer for Edmonton’s real estate market. Lower rates not only mean cheaper borrowing but also signal a strategic shift aimed at spurring economic activity. For homebuyers, sellers, and renters in Edmonton, this move creates opportunities—but it requires expertise to navigate effectively.

What Does This Rate Cut Mean for Edmontonians?

For Homebuyers:
Lower interest rates directly translate to lower mortgage payments, giving buyers more purchasing power. In Edmonton, where home prices are already more affordable than in other major Canadian cities, this is the perfect time to explore homeownership. With our team’s deep knowledge of local market trends and lending options, we can guide you in leveraging these lower rates to secure your dream home.

For Sellers:
Sellers benefit from increased buyer demand driven by lower borrowing costs. With more potential buyers entering the market, properties that are priced and marketed effectively will sell faster and for top dollar. At Iconic YEG, we develop personalized strategies to position your home to stand out in a competitive market, ensuring you maximize your sale.

For Renters:
If you’ve been on the fence about buying, this rate cut might be the push you need. Lower rates mean it’s more affordable to own than rent in many cases. However, entering the market requires careful financial planning. Our team is here to assess your options, connect you with trusted mortgage brokers, and help you take the first step toward homeownership.

Why Edmonton’s Market Stands Out

Unlike other metropolitan areas, Edmonton offers a unique combination of affordability and opportunity. The lower interest rate amplifies this advantage, enabling buyers to enter the market with greater confidence and sellers to capitalize on increased demand. Iconic YEG is uniquely positioned to help clients navigate these shifts with tailored advice rooted in local expertise.

Expert Guidance in a Changing Market

At Iconic YEG, we don’t just follow the market—we anticipate it. This rate cut creates opportunities, but understanding how to act on them is key. Whether you’re buying, selling, or investing, our team will ensure you make informed decisions that align with your goals.

Buyers: Let us show you how to make the most of your increased purchasing power.
Sellers: Our proven marketing strategies will help your property stand out.
Renters: We’ll help you transition into homeownership with confidence.

Take Action Today

Interest rate cuts like this one don’t happen every day, and they won’t last forever. Whether you’re ready to buy, sell, or explore your options, now is the time to act. Iconic YEG is here to guide you every step of the way.

Contact us today at 587-336-3176 to take advantage of this opportunity.

Key Takeaway: The Bank of Canada’s rate cut makes Edmonton’s already accessible real estate market even more enticing. With Iconic YEG’s expert guidance, you can make the most of this moment and achieve your real estate goals. Don’t wait—your future starts now.

Nestled in the heart of Edmonton’s most sought-after neighborhood, Strathcona, Terrace 84 isn’t just a place to live—it’s a lifestyle. This iconic condominium building, crafted in 1980, exudes the sophistication of mid-century design while offering an enviable location. Imagine waking up to the serenity of a park view, with Whyte Avenue’s vibrant energy just two blocks away. Whether you're drawn to the University of Alberta, the sprawling River Valley trails, or the eclectic dining and shopping experiences on Whyte, Terrace 84 delivers the perfect balance of style and convenience.

An Exclusive Address Like No Other

Terrace 84 isn’t just a building; it’s a coveted community. With only ten boutique condos, this gem offers unparalleled privacy and a warm sense of belonging that’s almost impossible to find in urban living today. In fact, listings here are so rare that only three units have been on the market in five years—and Iconic YEG Real Estate has been proudly involved in every one. We know this building like the back of our hand, and we can’t help but fall in love with its charm every time.

Why Terrace 84 Is Truly Exceptional

With its clean lines, functional layouts, and timeless mid-century aesthetic, the architecture of Terrace 84 is a dream for those who appreciate classic design. But this building offers more than just good looks—it places everything you need right at your fingertips. From downtown commutes and campus strolls to River Valley adventures and Whyte Avenue escapades, Terrace 84 is at the epicenter of Edmonton’s most exciting destinations. Whether you’re a nature enthusiast or an urban explorer, you’ll find your perfect rhythm here.

Coming Soon: A Rare Opportunity Awaits

Here’s where it gets exciting. Iconic YEG Real Estate may soon bring to market one of the most desirable condos in Terrace 84. This fully renovated two-level unit redefines modern luxury with over 1,200 square feet of thoughtfully designed space. The main floor invites you into a stunning open-concept living area, featuring soaring ceilings and a chic kitchen outfitted with custom cabinetry and premium finishes.

Venture upstairs, and you’ll find a spacious loft with a cozy den and a large bedroom, perfectly balancing privacy and openness. Virtually every detail of this home has been meticulously updated—from flooring and windows to the stylishly revamped bathrooms and kitchen. With second-level laundry, abundant storage, and a sleek design that marries elegance with function, this condo is a once-in-a-lifetime opportunity in one of Edmonton’s most desirable neighborhoods.

A Lifestyle That Inspires

Living at Terrace 84 is about embracing Edmonton’s finest. Begin your morning with a stroll through the park or a run along River Valley’s scenic trails. Spend your afternoons browsing the unique shops and enjoying artisanal coffee on Whyte Avenue. Then, cap off your day with a meal at one of the neighborhood’s acclaimed restaurants—all without ever needing to start your car.

Why Choose Iconic YEG?

At Iconic YEG Real Estate, we believe that buying a home is about more than just finding a place to live—it’s about finding the right lifestyle for you. With our deep knowledge of Edmonton’s real estate market and an unmatched passion for connecting clients with their dream homes, we’re committed to making your buying journey as seamless and rewarding as possible.

This Opportunity Won’t Last

Terrace 84 properties don’t just sell—they disappear. Don’t miss your chance to claim a piece of this architectural masterpiece. To learn more about this incredible listing or to schedule a viewing, reach out to Caitlin Heine at Iconic YEG Real Estate today. Act fast—this rare gem won’t wait.

CONTACT US TODAY

Are you curious about Edmonton’s thriving real estate market? October 2024 was a standout month, with residential sales surging by 38% compared to last year. Whether you’re considering buying or selling in Edmonton, Alberta, now is the time to act. Let’s explore what’s fueling this growth and how you can capitalize on it.

October 2024 Market Highlights: What You Need to Know

• Total Residential Sales: 2,439 homes sold in Greater Edmonton, up 10.5% from September and 38.5% year-over-year.

• Property Categories:

  • Apartment Sales: Up 43.6% year-over-year.

  • Semi-Detached Homes: Increased 38.6%.

  • Row/Townhouses: Gained 38.0%.

  • Detached Homes: Dominated the market with 1,431 sales, a 37.2% increase.

This remarkable growth highlights Edmonton as a hotspot for real estate buyers and sellers.

Why is Edmonton’s Real Estate Market on Fire?

1. Lower Mortgage Rates

With Edmonton’s mortgage rates as low as 3.98% for a 5-year fixed term, buyers have greater purchasing power. Lower interest rates are a key driver of the current sales spike.

2. Strong Demand Across Property Types

While detached homes lead in volume, multi-family housing like apartments and townhouses have seen the most significant growth. This trend reflects Edmonton’s increasing appeal to diverse buyers, including first-time homebuyers, investors, and downsizers.

3. Affordable Housing Compared to Other Canadian Cities

Edmonton’s housing affordability sets it apart from cities like Toronto and Vancouver. Even with rising prices, Edmonton remains accessible for buyers, making it a prime choice for homeownership and investment.

Edmonton Real Estate Prices: What Buyers and Sellers Should Expect

• Average Residential Price: $440,089 (up 11.1% year-over-year).

• Detached Homes: $552,954, a 13.6% annual increase.

• Townhouses: $307,854, up 19% year-over-year.

• Apartments: $191,413, down 6% annually but presenting excellent opportunities for investors.

Buyers can leverage Edmonton’s affordability, while sellers benefit from higher property values and strong demand.

How Sellers Can Thrive in Edmonton’s Seller’s Market

1. Highlight Your Property’s Features: With high buyer demand, marketing your home effectively can maximize offers.

2. List at the Right Price: Work with a professional real estate agent to set a competitive price that attracts multiple offers.

3. Leverage Market Timing: Inventory levels are low, and homes are selling quickly—capitalize on this urgency.

What Makes Edmonton Ideal for Home Buyers?

1. Increased Buying Power: Lower mortgage rates mean you can afford more home for your budget.

2. Diverse Housing Options: From modern condos to spacious family homes, Edmonton offers something for everyone.

3. Strong Community Growth: Edmonton’s population and infrastructure growth make it an ideal place for long-term investments.

Tips for Success in Edmonton’s Real Estate Market

For Buyers:

• Get pre-approved for a mortgage to strengthen your offers.

• Focus on neighborhoods with growth potential like Tamarack, Summerside, and Windermere.

For Sellers:

• Preparation is key - stand out and drive the value higher.

• Work with experienced agents, like the Iconic YEG Real Estate Team, who understand Edmonton’s real estate trends.

Join Edmonton’s Thriving Real Estate Market Today!

Edmonton’s Real Estate Market is in the spotlight for a reason. Whether you’re buying your first home, upgrading, or selling your property, the current conditions favor action. With rising sales and steady price growth, now is the time to make your move in Edmonton, Alberta.

Click Here for a Free Edmonton Property Evaluation

Contact the Iconic YEG Real Estate Team today to get expert guidance on buying or selling your property. Let us help you succeed in Edmonton’s dynamic market.

Today, on Wednesday October 23, 2024, the Bank of Canada made a bold move, slashing its key interest rate by 50 basis points, bringing it down to 3.75%. This is the largest rate cut since the pandemic, and it marks the fourth consecutive rate reduction. But what does this mean for buyers and sellers in Edmonton's real estate market?

First, let’s break down why this rate cut is significant. The Bank of Canada’s priority has shifted from aggressively tackling inflation to ensuring it stays within its target range of 1-3%. With inflation now back under control, the central bank’s focus is on supporting economic growth, which has slowed under the weight of high rates. As Governor Tiff Macklem noted, the central bank is making these moves to help increase demand while maintaining stable inflation.

But while the interest rate cut is welcome news for many, not everyone is feeling immediate relief. Canadians are still dealing with rising costs of living—particularly when it comes to housing, rent, and groceries. Even though inflation has slowed, prices remain high, and it will take time for the average Canadian to feel the effects of lower borrowing costs.

So how does this affect the housing market, particularly here in Edmonton?

Real Estate Outlook in Edmonton

As interest rates decrease, more homebuyers may be encouraged to enter the market, leading to increased competition for homes. In Edmonton, where borrowing costs have been high, this rate cut could bring some much-needed relief for those sitting on the sidelines, waiting for a better time to buy.

With lower interest rates, buyers can now potentially qualify for larger mortgages or see reduced monthly payments, making homeownership more affordable. However, it’s important to remember that lower rates often lead to increased demand, which could drive up home prices, especially in markets where inventory is already tight. Rate cuts could quickly turn the tide, making an early spring market likely.

This creates a unique opportunity for both buyers and sellers. Buyers can take advantage of lower borrowing costs, but waiting too long might result in rising home prices as more people jump into the market. Sellers, on the other hand, may see a surge in demand as more buyers re-enter the market, making this an excellent time to list a property.

Timing is Key

For buyers, the question now is whether to act quickly or wait for further rate cuts. Economists predict another rate cut in December, potentially by 25 basis points. But waiting comes with risks, buyers who wait too long may find themselves in a hotter market with rising prices.

If you're a buyer, consider getting into the market now, especially if you can secure a shorter-term mortgage with a slightly higher rate. The reality is, timing the market is tough, and while future rate cuts may occur, prices could rise significantly by then.

For sellers, this is an ideal time to prepare your home for sale. With rates dropping and market activity expected to increase, getting ahead of the competition by listing your property now could help you secure a great price.

What About Mortgages?

For those with variable-rate mortgages, this rate cut brings good news. As the prime rate falls, so will mortgage payments, allowing more of your payment to go toward the principal rather than interest. For homeowners facing mortgage renewals in the next year or two, this cut is a positive step, though the rates may still be higher than the ones secured in previous years. Fixed mortgage rates, however, are not likely to change as dramatically, as they are tied to government bond yields, which fluctuate differently than variable rates.

What’s Next?

As we move forward, expect more conversations around how these rate cuts will impact Edmonton’s real estate market. Buyers and sellers alike need to stay informed and be ready to act. With the Bank of Canada continuing to monitor economic data, future rate cuts are a possibility, but so is increased competition for homes. Whether you're buying or selling, now is the time to strategize and make the most of these changing conditions.

If you’re looking to buy or sell in Edmonton, reach out to the Iconic YEG Real Estate team. We’re here to guide you through the current market and help you make informed decisions. The next few months could bring exciting opportunities, and we want to ensure you’re ready to seize them.

As we navigate these changes together, let's remember that market timing can be tricky, but expert advice can make all the difference. At Iconic YEG, we’re committed to helping you every step of the way.

For any questions about this rate cut or how it might affect your real estate goals, feel free to contact me, Caitlin Heine, at Iconic YEG. 780-336-3176

If you’ve been thinking about selling your home in Edmonton and it’s valued under $600,000, you’re in a great position right now. With more than 80% of buyers in Edmonton focusing on homes in this price range, demand for properties like yours is higher than ever.

But markets don’t stay the same for long. Here’s why this could be the perfect time to sell, and how Caitlin Heine from Iconic YEG can help you make the most of your opportunity.

1. Strong Buyer Demand for Homes Like Yours

Right now, homes priced under $600,000 are seeing a lot of interest. In fact, 80% of buyers in Q3 2024 purchased homes in this price range, meaning there’s a steady stream of people actively looking for properties like yours. This kind of demand can lead to multiple offers and, in some cases, homes selling for more than the asking price.

If your home falls into this category, you’re in a prime position to benefit from this buyer activity.

2. Interest Rates Are Dropping

Another reason to consider selling now is that interest rates are on the decline, making it more affordable for buyers to secure mortgages. This has prompted many who were waiting on the sidelines to jump back into the market. As more buyers come into play, especially in the under-$600,000 range, your home could attract even more attention.

Listing now gives you the chance to capitalize on this increased buyer interest while the market is active.

3. Maximize the Value of Your Home

In today’s market, sellers have a great opportunity to get top value for their homes. With buyer competition so high, homes are moving quickly and selling at strong prices. By working with a REALTOR® like Caitlin Heine, you’ll get guidance on how to price your home competitively and attract the right buyers—potentially leading to a faster sale and more favorable offers.

4. Homes Are Selling Fast

In this price range, homes aren’t staying on the market for long. Buyers are eager to make offers on properties they love, and many homes are selling within days of being listed. If you’re considering selling, this means you can expect a quicker process than in slower markets. However, this also means you’ll want to be prepared and get your home ready to show as soon as possible.

5. Your Home Appeals to a Wide Range of Buyers

One of the advantages of selling a home under $600,000 is that it appeals to a wide variety of buyers—from first-time homebuyers to families looking to upgrade, and even investors looking for rental properties. This broad appeal can increase the number of interested buyers, which may lead to a quicker and more competitive sale process.

6. Work with an Experienced REALTOR®

Navigating the real estate market can feel overwhelming, especially when you want to make sure you’re getting the best value for your home. That’s where Caitlin Heine from Iconic YEG comes in. With her in-depth knowledge of the Edmonton market, Caitlin can help you through every step of the selling process—from pricing and staging to negotiating offers—ensuring that your home gets the attention it deserves.

7. Why Act Now?

While the market is strong right now, it’s important to remember that conditions can change. More sellers may decide to list their homes, increasing competition, or interest rates could shift. By listing your home today, you’re taking advantage of the current market dynamics while they’re in your favor.

8. Ready to Take the Next Step?

If you’ve been thinking about selling your home and it’s valued under $600,000, now is a great time to start the process. Whether you’re ready to move on to your next home or just curious about what your property might sell for in today’s market, reaching out to Caitlin Heine is the perfect first step.

Caitlin can provide a free, no-obligation home evaluation and give you personalized advice on how to prepare your home for sale. With her expertise, you’ll have a clear path forward to make sure your home sells quickly and for the best possible price.

Conclusion

With buyer demand high and interest rates falling, there’s a unique window of opportunity for sellers in Edmonton’s under-$600,000 market. If you’re considering selling, getting started sooner rather than later can help you make the most of this favorable market.

For a free home evaluation or to learn more about your options, contact Caitlin Heine at 587-336-3176 or caitlin@iconicyeg.com. Let’s talk about how to get your home sold quickly and for the best price.

About Caitlin Heine and Iconic YEG

Caitlin Heine is a top REALTOR® with Iconic YEG powered by RE/MAX Real Estate, specializing in helping homeowners sell their properties in the Edmonton area. With her personalized approach and deep knowledge of the market, Caitlin is committed to guiding her clients through successful real estate transactions.

If you’ve been pre-approved for a mortgage up to $500,000, now is the time to act. Edmonton’s real estate market is booming, and you’re entering the most competitive price range. With over 60% of all buyers in Q3 purchasing homes under $500,000, you’re competing with a huge portion of the market. And if we look at homes under $600,000, a staggering 80% of buyers fall into this category.

As more buyers enter the market this fall, and interest rates continue to drop, competition will only heat up further. You need a strategy to stand out and secure your dream home before someone else does.

Here’s how you can navigate the market successfully:

1. The Time is Now: Interest Rates Are Falling

With interest rates dropping, buyers who have been sitting on the sidelines are rushing back into the market. This means even more competition in an already crowded price range. If you’re approved up to $500,000, you’re already in a category with 60% of all buyers. Waiting could push you into an even more competitive environment as the fall season continues.

Falling interest rates can make homeownership more affordable for you, but they’re also opening the door for others to jump back in. Act now to avoid getting caught in a bidding war frenzy.

2. Get Pre-Approved and Be Ready to Act Fast

If you haven’t already, pre-approval is your first step. Not only does it show sellers you’re serious, but it allows you to act fast. With homes in the $300,000 - $500,000 range flying off the market, you need to be able to submit an offer quickly. Pre-approval ensures you’re ready to make moves as soon as you find the right home.

3. Expect Multiple Offers and High Competition

With over 60% of Edmonton’s buyers targeting homes under $500,000, expect multiple offers on most properties. It’s important to be strategic. Instead of getting caught in a bidding war, consider strengthening your offer with a larger deposit or flexible possession dates. This can make your offer stand out without stretching beyond your budget.

4. Be Flexible With Your Search

While certain neighborhoods are highly desirable, flexibility is key in this market. Expanding your search to surrounding areas could give you more opportunities and less competition. With 409 properties currently listed between $400,000 - $500,000, you have options—but those options won’t last long. Being open to different areas can increase your chances of finding the right home.

5. Work with a Top REALTOR® to Secure Your Advantage

When the market is this competitive, you need a skilled REALTOR® on your side. Caitlin Heine of Iconic YEG has the expertise to help you navigate Edmonton’s fast-paced real estate market. With years of experience, Caitlin knows how to craft offers that stand out in a competitive landscape, negotiate on your behalf, and win the deal.

If you want to maximize your chances of securing a home under $500,000 or even under $600,000 (where 80% of buyers are competing), Caitlin is the expert you need.

6. Prepare for Bidding Wars

With homes receiving multiple offers, bidding wars are becoming more common, especially in the under $500,000 range. It’s essential to have a clear strategy. Caitlin can help you determine how much over asking price you’re willing to go and ensure that any increase still fits within your pre-approved mortgage limit. You don’t want to overpay, but you also don’t want to miss out.

7. Stay Focused on Long-Term Goals

As competition heats up, it’s easy to make quick decisions, but it’s essential to stay focused on your long-term needs. Whether you’re planning for a growing family, need space for a home office, or want proximity to schools and amenities, keep your future in mind. The right home will align with your lifestyle, and Caitlin will help you find the perfect fit.

8. Be Ready to Move Fast: Don’t Delay

The combination of 60% of buyers competing under $500,000 and 80% under $600,000 means that homes are moving fast. You need to be prepared to make an offer quickly when the right home comes along. Caitlin will guide you through the process, ensuring you’re ready to act fast without feeling rushed.

9. Don’t Skip the Inspection

In the heat of competition, some buyers may be tempted to waive the home inspection to speed up the process. While it’s crucial to make your offer attractive, skipping the inspection can lead to costly surprises down the road. Instead of waiving it entirely, consider shortening the inspection period to make your offer more appealing while still protecting yourself.

The Time to Act Is Now

With 60% of all buyers in Edmonton purchasing homes under $500,000, and 80% under $600,000, you’re competing in the most active price range. Add in falling interest rates and an expected influx of buyers this fall, and the urgency couldn’t be higher. Acting now, with the right strategy, will give you the best chance of securing your ideal home before competition heats up even more.

Don’t wait until the market becomes even more competitive. Contact Caitlin Heine today at 587-336-3176 or caitlin@iconicyeg.com and start your journey to homeownership with Iconic YEG, Edmonton’s real estate experts.

About Caitlin Heine and Iconic YEG

Caitlin Heine is a leading Edmonton REALTOR® with Iconic YEG real estate team that specializes in personalized service and strategic real estate transactions. With deep knowledge of the local market and a commitment to delivering results, Caitlin helps buyers navigate Edmonton’s competitive landscape with confidence.

As we step into the latter part of 2024, Edmonton's real estate market continues to be a focal point for buyers, sellers, and investors. Whether you're planning to buy your first home, sell a property, or invest in the Edmonton market, staying informed is crucial. Here's an in-depth look at the latest trends and what they mean for you.

Strong Growth in Edmonton Home Prices

The Edmonton housing market has shown resilience and growth throughout 2024. The average selling price of a home in Edmonton reached $400,200 in August, marking a notable 7.6% increase year-over-year. This upward trend isn't just limited to single-family homes. Townhouses and multiplexes saw the most significant price surge, with a 14.7% increase, pushing the average price to $270,000. Condos also gained traction, with prices rising 10.7% to an average of $197,800.

Why does this matter? For homeowners, this means your property’s value is likely increasing, making it an ideal time to consider selling. For buyers, understanding these trends helps you navigate price expectations and make informed decisions.

Sales Trends: A Shifting Market

While home prices continue to climb, sales activity has experienced a slight cooling off. The Realtors Association of Edmonton (RAE) reported an 11.8% decrease in residential unit sales from July to August 2024. However, sales remain robust on a year-over-year basis, with a 15.8% increase compared to August 2023.

Key Takeaways:

• Detached Homes: Sales decreased month-over-month but saw a 12.5% increase year-over-year.

• Semi-Detached and Townhouses: Despite a summer slowdown, these segments experienced an 18.8% and 19.2% annual growth, respectively.

• Condominiums: While sales dipped slightly from July, they still posted a strong 22.6% increase compared to last year.

This trend suggests that while the market is cooling slightly from its summer highs, it remains competitive, particularly for certain property types.

Rising Rents Reflect Tight Inventory

The rental market in Edmonton is mirroring the sales market, with the average rent climbing 9.0% year-over-year to $1,570 in August 2024. Notably, bachelor apartments saw a significant 16% increase, reflecting the high demand for rental properties in the city.

What does this mean for you? If you're an investor, this is a strong signal that the rental market remains a lucrative opportunity. For renters, it's essential to act quickly and be prepared for competitive pricing.

Interest Rates and Their Impact

Mortgage rates are another critical factor influencing the market. With Canada’s policy rate at 4.25%, borrowing costs remain a significant consideration for buyers. For every $100,000 in mortgage balance, monthly payments range from $536 at a 4.04% fixed rate to $593 at a 5.15% adjustable rate.

Why you should care: Small changes in interest rates can significantly impact your monthly payments. Buyers should stay informed about rate trends and consider locking in rates when favorable.

What’s Next for Edmonton’s Real Estate Market?

Looking ahead, the Edmonton market is likely to see continued growth, albeit at a more balanced pace. The slight increase in days on market suggests a shift towards a more balanced market, giving buyers a bit more room to negotiate while still favoring sellers in many areas.

For Sellers: If you're considering selling, now might be the right time to capitalize on high prices, especially in the detached and townhouse segments.

For Buyers: As the market cools, there could be more opportunities to negotiate, but expect continued competition, particularly in high-demand neighborhoods.

Conclusion: Navigating the Market with Confidence

Edmonton’s real estate market in 2024 is dynamic, with rising prices and a competitive landscape. Whether you’re buying, selling, or investing, staying informed and agile is key. Partnering with an experienced real estate team like Iconic YEG can provide you with the insights and guidance needed to succeed in this market.

Why choose Iconic YEG? Our team is dedicated to providing the most current market insights and personalized advice, ensuring you make the best decisions in this ever-changing market. Whether you’re a first-time homebuyer, a seasoned investor, or looking to sell your property, we’re here to help you every step of the way.

Want to know more?

Contact Caitlin Heine, Owner of Iconic YEG to chat

587-336-3176 or caitlin@iconicyeg.com

Are you searching for a vibrant community that blends small-town charm with urban convenience? Look no further than Downtown Leduc, Alberta’s hidden gem. This thriving neighborhood is more than just a place to live; it’s a place where you can truly build a life, surrounded by opportunities, culture, and a warm, welcoming community.

A Lively Community with Heart

Downtown Leduc stands out with its picturesque streets, well-preserved historic buildings, and inviting public spaces. The community spirit here is unmatched, with a calendar full of events that bring residents together, such as the popular Leduc Farmers Market and the Leduc Arts Foundry. These events are more than just gatherings—they’re celebrations of local talent, culture, and artistry that enrich the lives of everyone who calls Leduc home.

One of the many perks of living in Downtown Leduc is its accessibility. Whether you’re commuting to work, running errands, or exploring local attractions, everything is just a short distance away, thanks to the area’s efficient public transportation and well-designed infrastructure.

A Thriving Economy with Endless Opportunities

Downtown Leduc is an economic powerhouse, offering a fertile ground for businesses to grow and prosper. The downtown area is teeming with unique boutiques, specialty shops, and a diverse array of cafes and restaurants that showcase the best local flavors. For entrepreneurs and small business owners, Leduc provides an encouraging environment, making it an ideal place to start or expand a business.

Families will find Downtown Leduc particularly appealing, with its top-rated schools, both public and private, and a wide range of recreational facilities. Whether it’s parks, swimming pools, or sports complexes, there’s always something to do, ensuring that every member of the family can enjoy an active and fulfilling lifestyle.

Real Estate: A Market Full of Potential

The real estate market in Downtown Leduc is brimming with opportunities. Whether you’re searching for a cozy starter home, a luxurious condo, or an investment property, you’ll find a variety of options to suit your needs and budget. As Leduc continues to grow and develop, property values remain stable, making it a smart investment for the future.

Explore Properties for Sale in Downtown Leduc

Navigating the Leduc real estate market is easier with a knowledgeable local expert like Allisha McKenzie of RE/MAX by your side. Allisha has her finger on the pulse of the community and understands the nuances of the market, ensuring you find a home that perfectly matches your lifestyle and budget. With her guidance, the process of buying or investing in Leduc becomes a rewarding and stress-free experience.

Conclusion: Your Future Begins in Downtown Leduc

Choosing Downtown Leduc means more than just finding a place to live—it’s about becoming part of a community that values connection, culture, and convenience. Whether you’re a young professional, a growing family, or planning your retirement, Leduc offers the perfect setting to plant roots and grow. Don’t wait to explore everything Downtown Leduc has to offer. Take the first step toward building your dream life in this exceptional community today.

Contact Allisha Today

Leduc, Alberta, is a vibrant city that strikes the perfect balance between small-town charm and big-city convenience, making it an ideal place to settle down. With top-tier schools, expansive parks, and endless recreational opportunities, Leduc offers a thriving environment for families. Whether you’re searching for a brand-new build or a home with character, Leduc’s real estate market is brimming with opportunities. And with the expertise of Allisha McKenzie and the dedicated team at Iconic YEG, your journey to finding your dream home will be seamless and enjoyable.

Top Schools in Leduc: Investing in Your Child’s Future

For families considering a move, Leduc’s excellent schools are a significant draw. The city is home to a variety of highly-regarded public and Catholic schools, catering to students from kindergarten through high school. Schools like Leduc Composite High School and Notre Dame School are renowned for their strong academic programs and vibrant extracurricular activities, helping students excel both inside and outside the classroom.

Leduc’s educational environment ensures that your children receive the support they need to thrive. Whether they’re just beginning their educational journey or preparing for post-secondary pursuits, Leduc’s schools are dedicated to helping students reach their full potential.

Parks and Recreation: Embrace the Outdoors in Leduc

Nature enthusiasts will fall in love with Leduc’s abundance of parks and green spaces. With over 60 parks, the city offers ample opportunities to enjoy the outdoors year-round. Families can enjoy leisurely walks through Fred Johns Park, complete with playgrounds, picnic areas, and scenic lakeside views, providing the perfect setting for relaxation. William F. Lede Park is a hub for sports enthusiasts, featuring soccer fields, baseball diamonds, and easy access to Telford Lake for canoeing and kayaking.

For those who prefer indoor activities, the Leduc Recreation Centre offers year-round fitness and fun. Whether you’re into swimming, skating, or joining a fitness class, this community center provides something for everyone to stay active and engaged.

Leduc Real Estate: A Growing Community with Diverse Housing Options

Leduc’s real estate market is a reflection of the city’s growth and diversity. With new developments continually emerging and established neighborhoods maintaining their timeless appeal, there’s a home for every taste and budget.

If modern living with the latest amenities appeals to you, newer neighborhoods like Southfork and Robinson offer contemporary designs with easy access to schools, parks, and shopping centers. For those who appreciate larger lots, mature trees, and homes with character, neighborhoods like Corinthia Park and Meadowview offer a charming atmosphere that’s increasingly rare in newer developments.

Whether you're a first-time buyer, looking to upgrade, or seeking an investment property, Leduc’s real estate market has plenty to offer.

Search All Homes For Sale in Leduc

Allisha McKenzie and Iconic YEG: Your Trusted Partners in Leduc Real Estate

Navigating the real estate market can be overwhelming, but with Allisha McKenzie and the seasoned professionals at Iconic YEG, you’ll have expert guidance every step of the way. Allisha’s deep knowledge of Leduc’s neighborhoods, combined with the extensive resources and support of Iconic YEG, ensures a smooth and successful home-buying experience.

From identifying the perfect property to negotiating the best deal, Allisha and the Iconic YEG team work tirelessly to make sure you’re informed and confident throughout the process. Their local expertise, personalized approach, and commitment to client satisfaction make your journey to finding a home in Leduc both enjoyable and stress-free.

Why Choose Leduc?

Leduc offers an exceptional quality of life, blending community spirit with access to modern amenities. The city’s dedication to education, parks, and recreation makes it an outstanding place to raise a family, while the robust real estate market ensures there’s something for everyone. With the expert guidance of Allisha McKenzie, you can trust that your search for the perfect home will be both exciting and hassle-free.

If you’re ready to explore everything Leduc has to offer, contact Allisha McKenzie today and let her and the Iconic YEG team help you find your ideal home in this incredible community!

The real estate market in Edmonton is buzzing with new opportunities as mortgage rates continue to drop, reaching levels not seen since early 2023. For both buyers and sellers, these shifting rates present unique advantages, and the Iconic YEG Real Estate Team, led by Caitlin Heine, is here to help you navigate this dynamic market.

Why This Matters to Buyers

With the 30-year fixed mortgage rate now at approximately 6.16%, homebuyers in Edmonton can capitalize on lower monthly payments and potentially lock in a rate that offers significant long-term savings. This reduction in rates is particularly advantageous for first-time homebuyers, who may now find themselves with increased purchasing power. Whether you're eyeing a family home in the suburbs or a trendy condo downtown, now is the time to act.

Caitlin Heine and the Iconic YEG team understand the importance of timing in real estate. They can provide personalized guidance to help you secure the best mortgage rates, ensuring that you make a savvy investment. With Iconic YEG's deep knowledge of the Edmonton market, you'll have the support you need to find a property that not only meets your needs but also positions you for future growth.

What Sellers Need to Know

For sellers, falling mortgage rates are likely to bring more buyers into the market, which could lead to quicker sales and potentially higher offers. However, this influx of activity also means that competition among sellers might increase. Positioning your property correctly from the start is essential to stand out.

Iconic YEG specializes in creating tailored marketing strategies that highlight your property's unique features. Caitlin Heine and her team use cutting-edge techniques and in-depth market analysis to attract serious buyers quickly. By listing with Iconic YEG, you’ll ensure your home is showcased to its fullest potential, appealing to the broadest range of motivated buyers.

Why Choose Iconic YEG?

Iconic YEG isn't just another real estate team; it's a collective of passionate professionals dedicated to exceeding client expectations. With a focus on personalized service and expert advice, Caitlin Heine and her team are committed to helping you make informed and favorable real estate decisions. Whether you're buying or selling, Iconic YEG is your partner in navigating the Edmonton real estate market.

Don’t miss out on this opportunity—reach out to Caitlin Heine and the Iconic YEG team today. Let’s make your real estate goals a reality in this advantageous market climate.