The days are getting shorter, and the housing market in Edmonton is cooling off, with home prices dipping slightly from the previous quarter as buyers gain more options.
A new report from Royal LePage shows the aggregate price of a home in the Edmonton region increased 0.7 per cent year over year to $479,500 in the third quarter of 2026. However, prices dipped 0.6 per cent compared with the previous quarter.
The median price of a detached home rose 0.5 per cent year over year to $529,600, while condo prices increased 0.6 per cent to $207,700.
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“Edmonton entered the summer with solid momentum, but activity softened through the remainder of the season,” said Tom Shearer, broker and owner with Royal LePage Noralta Real Estate.
“Several factors contributed to the slowdown, including slower in-migration, flooding in the region and a lower sense of urgency among buyers. Inventory has grown compared to last year, and while buyers are not overwhelmed with choice, they now have more options, which has brought Edmonton into more balanced market territory.”
Shearer noted that home prices in Edmonton have remained relatively stable, with little change from last year or the previous quarter.
With more homes available and less pressure to act quickly, buyers have more time to weigh their options.
“Heading into the fall, we expect the market to continue moving toward balance, with prices holding firm or easing slightly,” added Shearer.
Shearer added that the first half of 2027 could bring steadier sales activity and a healthier balance between buyers and sellers. Several major development projects could also support job growth and renewed migration to the region, providing a foundation for housing demand heading into the spring market.
Royal LePage forecasts that the aggregate price of a home in Edmonton will increase 2.0 per cent in the fourth quarter of 2026 compared with the same quarter last year.
Nationally, the aggregate price of a home decreased 0.8 per cent year over year to $810,000 in the third quarter of 2026.
Royal LePage forecasts that the aggregate price of a home in Canada will increase 1.0 per cent in the fourth quarter of 2026 compared with the same quarter last year.
You can view the full report on the Royal LePage website.