Edmonton Real Estate Market Update - Aug 2023

Edmonton Real Estate Market Update - Aug 2023

If you're a prospective homebuyer or seller in Edmonton, you're likely eager to know how the real estate market is performing. Well, look no further, because we've got the latest insights for you. In this article, we'll dive into the Edmonton Real Estate Market Update for August 2023. Whether you're eyeing a single-family detached home, a cozy condo, or a stylish townhome, we have the data you need to make informed decisions.

New Listings and Total Homes for Sale

The Edmonton real estate market in August 2023 saw a total of 2447 homes listed for sale. This represents a slight -4% decrease from the previous month. While the number of listings dipped slightly, Edmonton continues to offer a diverse range of housing options for buyers.

Homes Sold in Edmonton

Now, let's talk about the most crucial metric: home sales. In August 2023, Edmonton witnessed 1594 homes sold, marking a 1% increase compared to the previous month and a significant 35.9% surge compared to the same month last year.

August 2023 Edmonton MLS Listings Sold Vs New Listings Bar Graph

Average and Median Prices

Single-Family Detached Homes

  • Average Price: $495,344.7

  • Median Price: $448,000

For those seeking the quintessential suburban lifestyle, single-family detached homes remain a popular choice. The average price increased slightly by 0.6% month-over-month and 2.2% year-over-year, while the median price experienced a minor decrease of -0.4% month-over-month but still rose by 1.8% year-over-year.

August 2023 Edmonton MLS Listings Single Family Home Line  Graph

Half-Duplex Homes

  • Average Price: $374,135.7

  • Median Price: $374,000

If you're considering a half-duplex, the average price decreased by 2.6% month-over-month, but it's still 2.5% higher compared to last year. Meanwhile, the median price saw a 0.6% month-over-month increase and an impressive 6% year-over-year boost.


  • Average Price: $190,582.4

  • Median Price: $175,000

Condo enthusiasts will be pleased to know that prices are relatively stable. The average price dipped slightly by 1% month-over-month and a marginal -0.2% year-over-year. The median price, on the other hand, increased by 0.6% month-over-month and a solid 3.6% year-over-year.


  • Average Price: $248,289.9

  • Median Price: $239,900

Townhomes, a great choice for urban living, experienced a -3.6% month-over-month decrease in average prices but remain 1.7% higher than last year. The median price decreased by -5.9% month-over-month and -1.5% year-over-year. 

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Sales-to-New-Listing Ratio

For sellers, it's crucial to understand the sales-to-new-listing ratio. In August 2023, this ratio for Edmonton stood at 0.65. This indicates a market that is favouring the sellers

August 2023 Edmonton MLS Listings Sales-to-New-Listings Ratio Line Graph

Cumulative Days on Market

If you're wondering how long it takes for different types of properties to sell in Edmonton, here's the breakdown:

  • Detached Single-Family Homes: 63 days

  • Half-Duplex Homes: 58 days

  • Condo/Apartment Units: 92 days

  • Townhomes: 59 days

Understanding the days on market can help you gauge market dynamics and plan your buying or selling strategy accordingly.

August 2023 Edmonton MLS Listings Days on Market Bar Graph

Stay Informed and Make Informed Decisions

In conclusion, the Edmonton real estate market in August 2023 showcases a dynamic and competitive landscape. With a variety of housing options and a growing number of sales, it's a market where both buyers and sellers can find opportunities.

Data Status: A (Active), P (Pending), S (Sold), X (Expired), T (Terminated), W (Withdrawn).
Sources: The data is sourced from the MLS.The information provided in this blog is ‘as is’ with no guarantee of accuracy or completeness.

Copyright 2024 by the REALTORS® Association of Edmonton. All Rights Reserved.
Data is deemed reliable but is not guaranteed accurate by the REALTORS® Association of Edmonton.
The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA.