As we turn the corner into August, Edmonton’s real estate market is showing early signs of seasonal cooling—and possibly more than that. With inventory climbing and subtle shifts in pricing, first-time home buyers may find themselves with more options and negotiating power than we’ve seen in recent months.

Inventory on the Rise: A Subtle Shift Ahead?

To help make sense of the numbers, I sat down with Jay Lewis of Lewis & Co Realty. Jay’s insights are always sharp, and this month was no exception.

“There’s a hint of fall in our market,” Jay said cautiously. “Inventory is up about 5% month-over-month, and compared to last July, it’s actually up 21%—that’s significant.”

As of the end of July, there were 7,083 active listings in Edmonton, up from 6,768 in June. While not a dramatic jump month-to-month, the year-over-year rise could suggest a gradual return to a more balanced market.

Sales Hold Steady—for Now

Despite the rising inventory, sales numbers have remained relatively flat.

“We saw 2,860 sales in July, compared to 2,877 in June,” Jay noted. “That’s not much of a change, but if inventory keeps rising while sales hold steady, we could be shifting away from the tight market we’ve seen recently.”

This could mean the early stages of a more buyer-friendly environment—something many first-time buyers in Edmonton have been waiting for.

Days on Market: Stable and Balanced

One key indicator we always watch is Days on Market (DOM)—how long properties are taking to sell.

“Detached homes took an average of 31 days to sell in July,” Jay shared. “That’s just a slight bump from 29 in June, and still down from 32 days last July. Overall, we’re seeing stability across all property types.”

This balance in DOM suggests that while some segments are cooling, we’re not seeing panic or stagnation. Buyers still need to act thoughtfully, but not necessarily in a rush.

Prices: Detached Homes Hold Strong, Others See Declines

While detached homes remain relatively stable in price—up 1.9% month-over-month and 6.8% year-over-year—other property types are starting to see downward pressure.

“Semi-detached homes dropped 1.5% in July,” said Jay. “Row houses saw a sharp 6.5% decline, and apartments dipped 2.6%. These are numbers we’ll want to watch closely.”

Detached homes averaged $534,000 in July, bouncing back from a small dip in June. “That $530K mark has been consistent all year,” Jay pointed out.

But some of the biggest price shifts came from more affordable segments:

• Townhomes fell to $290,000, below the $300K mark for the first time since February.
• Apartments dropped to $190,000, continuing a five-year trend of hovering around the $190–$200K range.

What This Means for First-Time Buyers

For first-time buyers, this could be a rare window of opportunity. With inventory increasing and prices softening—especially in condos and townhomes—you might have more room to negotiate and a better chance of finding the right home within your budget.

But navigating the market still requires guidance.

Whether you need help getting pre-approved, understanding mortgage options, or choosing between a condo and a townhome, I’m here to help. If you’re a first-time buyer in Edmonton, let’s connect. I can help you understand what you can qualify for, walk you through the approval process, and connect you with great real estate agents—like Jay—who know the market inside and out.

📍Want more local market updates and advice for first-time buyers?
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