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Housing Market
Current Edmonton
Average Home Price
Volume
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Flexibility Index
High inventory and abundant new listings have given buyers more options, resulting in a relatively balanced market.
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INSIGHTS
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Rate Forecast
The 8-month outlook shows 5-year fixed rates around 3.85%, with potential dips before returning to stabilize near this level.
Rate Movement
Two Bank of Canada rate cuts totaling 0.50% are anticipated in the next 12 months, likely providing relief for borrowers and supporting lower fixed-rate mortgages.
Housing Market
The average Edmonton home sale price was $463,078 in July 2025 (down 0.4% from June, up 5.2% year-over-year).
Forecasted Rate Cuts
Q3 2025
1 CUT
Projected
Q4 2025
1 CUT
Projected
Q1 2026
0 CUT
Projected
Q2 2026
0 CUT
Projected
Next BOC rate cut expected in Q3 2025, with a current market probability of over 70%. Only rate cuts with a likelihood of 70% or higher are displayed.
Fixed Rates
Easing bond yields are nudging fixed mortgage rates down.
Variable Rates
Prime discounts continue to widen, signaling relief for variable-rate borrowers.
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EdmontonMORTGAGE RATES
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Edmonton's Best 5-Year Fixed Mortgage Rates
Those who want predictable payments and peace of mind
A 5-year fixed mortgage gives you stability. Your payments stay the same for five years, no matter how interest rates move. That makes budgeting easier, especially in a growing city like Edmonton. This might be your best option if you want to lock in your payments and not worry about rate changes.
We've analyzed thousands of mortgage rates from over 97 lenders across Edmonton and Alberta. That includes big banks, credit unions, and digital lenders. Our goal? To bring you the most competitive 5-year fixed options available today.
Edmonton's Best 3-Year Fixed Mortgage Rates
Those who want stability now but flexibility later
A 3-year fixed mortgage is a middle ground. Your payments stay steady, but only for three years. That's helpful if you're unsure how long you'll stay or think rates might drop soon. A 3-year fixed term gives you both security and flexibility.
In our experience, many Edmonton buyers like these mortgages because of their short-term predictability and long-term wiggle room.
Edmonton's Top Variable Rate Mortgages
Those with a more flexible budget
Variable-rate mortgages follow the prime rate, the interest rate banks charge their most creditworthy customers. This means your payment could go up or down depending on the market.
This option can save you money if you have room in your budget and are willing to accept unpredictability. It's often cheaper than fixed rates in the long run. We think it's a wise choice for Edmonton buyers if you're focused on long-term savings and can handle a few bumps along the way.
Who Offers Mortgages in Edmonton?
Edmonton offers a range of mortgage options, including big banks like RBC, TD, Scotiabank, CIBC, BMO, National Bank, and regional players such as ATB Financial or Canadian Western Bank. Branch access is smooth if you're already a customer, but the rates may not always be the lowest-comparing makes sense.
Local Credit Unions
Alberta credit unions often deliver better service and competitive rates, especially for long-time members. Here are key options in and around Edmonton:
- Servus Credit Union – Based in Edmonton, the largest credit union in Alberta with over 100 branches. Offers fixed and variable mortgages plus a profit-share program that can help reduce interest costs.
- connectFirst Credit Union – 42 branches across Alberta. Offers flexible fixed or variable terms from 1 to 5 years, including plans that let you pay down up to 20% of the principal annually.
- Christian Credit Union – Founded in Edmonton in 1952. Offers fixed and variable terms, open and closed mortgages, plus profit-sharing and flexible prepayment options.
- ABCU Credit Union Ltd. – Along with smaller ones like Vision, Lakeland, Rocky, Vermilion, and Khalsa, also offer insured mortgage options under provincial regulation.
Mortgage Brokers in Edmonton
A good mortgage broker works for you, not the lender. They shop around, negotiate on your behalf, and help you compare your options. That's especially helpful if you're buying your first home or dealing with a more complex situation.
One brokerage worth highlighting is Everyrate.ca. They're fully licensed in Alberta and offer a wide selection of lender rates, all in one place. Whether you're after the lowest rate, a flexible prepayment plan, or just want someone to walk you through it, Everyrate.ca helps you find the right fit, without the hassle.
Other well-known brokers in Edmonton include True North Mortgage, The Mortgage Force Team, Cheryl Wilkes Mortgages, Gagan Chahal, The Mortgage Girl (Jackie Woodward), Brent Leah Mortgages, Benchmark Mortgages, and Flare Mortgage Group.
We've spoken with people who've had great experiences working with brokers who break things down clearly and genuinely advocate for their clients. A good broker can make a big difference not just in what rate you get, but in how confident you feel through the process.
Alternative and Private Lenders
Private and alternative lenders fill in the gaps when banks say no. These might be worth looking into if you're self-employed, new to Canada, or have credit issues.
They usually charge higher rates, but a broker can help you understand if the trade-off makes sense. We always suggest asking questions, reading the fine print, and ensuring it fits your long-term plans.
How to Choose the Right Lender
There's no single best lender. The right choice depends on your budget, your goals, and how long you plan to stay in the home. Here are a few key things to keep in mind:
- Know how much you can comfortably afford, not just what you're approved for
- Get pre-approved to understand your borrowing power before you shop
- Compare rates and terms from more than one lender. Don't take the first offer
- Use a platform like Everyrate.ca to view mortgage offers from over 97 lenders across Alberta in one place
Edmonton's Housing Trends: What You Need to Know
Edmonton's real estate market still looks healthy, but the summer slowdown has cooled things slightly. After a brisk spring, prices eased and listings climbed. Here's where things stand as of July 2025.
Home Prices Keep Rising—But the Pace Is Easing
By July, the city's average selling price across all home types dipped to $463,078, a slight 0.4% decline from June, yet still about 5% higher than the same time last year. Detached houses averaged $578,442, up about 0.7% month-over-month and 4.8% above July 2024.
Semi-detached homes averaged $430,813; that's roughly 2% less than June yet still 5.8% higher than a year ago. Row/townhomes averaged $296,785 and apartments $209,711. Both segments declined modestly from June but remain higher year-over-year.
More Listings Are Coming, but Sales Have Cooled
July saw 2,860 residential sales, a slight drop from June and a 2.6% decline compared with July 2024. 4,387 new listings hit the market—about 7.8% more than June and 20% above last year. This influx of supply means there's more competition among sellers, which could lead to more strategic pricing and better-prepared homes. The total inventory now stands at 7,083 homes.
The Market Is Shifting Toward Balance
With sales lagging new listings, the sales-to-new-listings ratio sits around 65%, down from the high-pressure conditions earlier this year. That still favours sellers but signals a move toward balance. Buyers now have more choice and slightly more negotiating power, while sellers can no longer count on quick, above-list offers.
Rental Market Is Cooling Slightly
Rents have levelled off after last year's surge. Liv. Rent's July 2025 report pegs the average monthly rent for an unfurnished one-bedroom unit at about $1,304, up only $2 from June and about $15 below the same time in 2024. Furnished one-bedrooms average $1,471. Another local brokerage report put one-bedroom rents at $1,284 and two-bedrooms around $1,768.
Builders continue to add rental and multi-family units, which should help keep rents from spiking.
What This Means for You
- Sellers: Homes are still selling relatively quickly, but pricing and presentation matter more.
- Buyers: You have more choices than earlier this year. Pre-approval and clear priorities still help, but the urgency has eased.
- Investors & First-Time Buyers: Pay attention to segments that have softened—semi-detached, townhomes, and condos all saw small monthly price dips, offering potential value.
Quick Takeaways (July 2025)
| Metric | Value (July 2025) | Comment |
|---|---|---|
| Average sale price | $463,078 | Slightly lower month-over-month, about 5% higher year-over-year |
| Sales | 2,860 | Down modestly month-over-month and year-over-year |
| New listings | 4,387 | Up 7.8% from June, up 20% from a year ago |
| Inventory | 7,083 homes | Up from June, up 21.8% from last July |
| Sales-to-new-listings ratio | ~65% | Market is approaching balance |
| Average detached price | $578,442 | Up 0.7% m/m, up 4.8% y/y |
| Average semi-detached price | $430,813 | Down 2% m/m, up 5.8% y/y |
| Average townhome price | $296,785 | Down 4.1% m/m, up 1.6% y/y |
| Average condo price | $209,711 | Down 2.4% m/m, up 2.6% y/y |
| Average rent (1-bed) | $1,304 (unfurnished) | Roughly flat month-over-month; down slightly year-over-year |
Down Payment Requirements for Edmonton (July 2025)
Your down payment depends on the purchase price. With July's average prices, here's what you'll need:
| Property Type | Avg. Price | Minimum Down Payment Rule | Calculation | Minimum Down Payment |
|---|---|---|---|---|
| Detached | $578,442 | 5% on the first $500k + 10% above | $25,000 + 10% of $78,442 | ≈$32,844 |
| Semi-detached | $430,813 | 5% of total price | 5% × $430,813 | ≈$21,541 |
| Townhouse | $296,785 | 5% of total price | 5% × $296,785 | ≈$14,839 |
| Condo (Apartment) | $209,711 | 5% of total price | 5% × $209,711 | ≈$10,486 |
How the Rules Work
- For homes priced $500,000 or less, your minimum down payment is 5% of the full price.
- For homes between $500,001 and $999,999, you pay 5% on the first $500,000 and 10 % on the remainder.
- Homes priced at $1 million or more require a 20% down payment.
- If your down payment is under 20 %, mortgage default insurance is required.
What This Means for You
Average detached homes now require a down payment of at least $32,844. Semi-detached, townhomes and condos require $10–22k. Prices are still lower than in many other major Canadian cities, so Edmonton remains relatively affordable. Remember that if you buy higher-priced homes, your minimum down payment escalates quickly.
Looking Ahead
Edmonton's fundamentals remain solid. Job growth and infrastructure upgrades, such as LRT expansions, continue to attract buyers from across Canada. With more inventory hitting the market and prices moderating, the city appears to be moving toward long-term stability. You'll still need to act decisively when a good home hits the market, but the frantic pace of early spring has faded.
Property Taxes in Edmonton
Property taxes are a key part of your monthly homeownership costs in Edmonton. In 2025, the city approved a 5.7% increase to the municipal portion of the property tax bill. That works out to roughly $763 per $100,000 of assessed value—about $51 more than last year.
How Taxes Are Calculated
Your property taxes are based on the assessed value of your home as of July 1, 2024. The combined tax rate for 2025—including municipal and provincial education portions—is approximately 1.01% of your property's value.
For example, a home assessed at $465,500 would owe around $4,700 in total annual property taxes.
What to Know About Payment
Tax notices are sent out in May, with payment due by June 30. You can pay in full or sign up for the city's monthly payment plan. If you have a mortgage, your lender may collect and pay your taxes on your behalf.
Late payments are subject to penalties, and Edmonton does not accept credit cards directly.
Assessment Changes and Appeals
If your property's assessed value increased by more than the city average (around 8.4%), your tax bill may rise by more than 5.7%. You can review or appeal your property assessment up until March 19 each year.
Bottom line: Property taxes in Edmonton have gone up in 2025, and the amount you owe depends on your home's value and how it compares to others across the city. Check your tax notice and assessment details carefully to make sure everything's accurate.