If you’ve been keeping an eye on Edmonton’s townhouse market, you might have noticed something unusual this summer — prices have taken a dip, and not just by a little. In July, the average row/townhouse price slid to $296,785 — that’s $20,000 lower than June, marking a 4.1% monthly drop and bringing annual growth down to just 1.6%.

Normally, we see townhouse prices ease in the fall, but this year the dip arrived three months early. Whether this is a one-month blip or the start of an early fall market remains to be seen — but for buyers, it could mean opportunity.

More Listings, More Choice

The number of new townhouse listings jumped 13% month-over-month and a hefty 21% year-over-year, giving buyers more options than we’ve seen since before COVID. Across all property types, Edmonton saw 4,387 new listings in July, up 7.8% from June and 20% compared to last year.

Overall inventory hit 7,083 active listings — a 21.8% jump from last July. Yet, despite the growing supply, sales have slowed. Only 2,860 homes sold in July, down 2.6% from last year.

According to Darlene Reid, Chair of the Realtors Association of Edmonton (RAE), “motivated sellers might be willing to lower their price to close the deal, and buyers’ options remain plentiful.”

Still a Seller’s Market (For Now)

While inventory is rising, Edmonton is still technically in a seller’s market, with just 2.7 months of supply overall. Townhouses are in a slightly more balanced spot, with 1.7 months of supply — up from 1.5 months a year ago — and they’re sitting on the market a little longer, at a median of 19 days compared to 17 days last year.

Michelle Patterson Nipp, Edmonton realtor, notes that whether you’re in a buyer’s or seller’s market depends heavily on the type of property and location. In some neighbourhoods, well-priced listings still get snapped up quickly.

Why This Matters for First-Time Buyers

If you’re looking to break into Edmonton’s market, especially in the townhouse segment, this shift could work in your favour:

• Lower prices now vs. waiting until fall
• More listings to choose from — less pressure to make a rushed offer
• Potential negotiating power with motivated sellers

Bonus for Downsizers

This isn’t just good news for first-time buyers — downsizers could also benefit. With the cost of larger homes holding steady or even ticking up, homeowners thinking about selling their detached property can still capture strong value on their sale, then turn around and buy a townhouse at a discount compared to just a month ago.

That means more leftover equity, lower ongoing costs, and the chance to simplify life without sacrificing financial gain.

Make Your Move

Whether you’re buying your first home or selling to downsize, getting pre-approved for your mortgage first ensures you can act fast when the right property comes along — without scrambling at the last minute.

If you’re ready to explore Edmonton’s townhouse market, I want you to see that NOW is the time to act. Let’s chat about your mortgage options and get you moving with confidence.