How is the Edmonton housing market shaping up?

The city is not plagued by the issues seen in powerhouse markets

How is the Edmonton housing market shaping up?

Edmonton is expected to remain one of Canada’s strongest markets until the end of 2022, according to Royal LePage.

“We’re coming back to normal,” said Tom Shearer, broker and owner of Royal LePage Noralta Real Estate. “Going through 2020 to 2022, we were in pandemic times with low interest rates, and the market was very, very active.”

Edmonton’s aggregate home price is expected to have a modest 4% annual gain, from $428,400 by the end of 2021 to $445,536 by the end of 2022.

This is a far cry from the overheated levels seen in powerhouse markets like Toronto, which is likely to see a year-end aggregate home price of around $1.080 million.

Read more: Things are heating up in Edmonton’s industrial segment

“Edmonton didn’t bubble up like a lot of other places,” Shearer said, noting that aside from affordability, the city offers the unique advantage of stability from a market perspective.

“Edmonton is the least exciting real estate market in all of Canada, or at least one of them,” Shearer says. “We don’t get too high or low like other big cities.”