August Brings a Balance in Residential Unit Sales & Pricing

September 3, 2021

Edmonton, September 2, 2021: Total residential unit sales in the Greater Edmonton Area (GEA) real estate market for August 2021 increased 9.7% compared to August 2020 and decreased 6.8% from July 2021.

New residential listings are up year-over-year, increasing 12.9% from August 2020. However, new residential listings are down month-over-month, decreasing 6.0% from July 2021. Overall inventory in the GEA was down 1.9% from August of last year and decreased 4.1% from July 2021.

See full REA Press release and stats package below this MaxWell Summary:



For August, single-family home unit sales are up 5.2% from August 2020 and down 6.0% from July 2021 at 1,246. Condo unit sales increased 23.4% from August 2020 and decreased 8.4% from July 2021. Duplex/rowhouse unit sales were up 10.5% year-over-year and down 4.7% month-over-month.

All residential average prices are at $384,874, a 2.7% increase from August 2020 and down 1.3% from July 2021. Single-family homes averaged $460,963, a 4.9% year-over-year increase and a 1.1% decrease from July 2021. Condominiums sold for an average of $227,559, a 0.8% decrease year-over-year, and prices are down 5.2% compared to July 2021. Duplex prices increased 3.8% from August 2020, selling at $355,326, which was a 0.6% decrease from July 2021.


The MLS® Home Price Index (HPI) composite benchmark price* in the Greater Edmonton Area leveled out at $347,300, a 5.7% increase from August 2020, and down 0.7% from July 2021.

“The Edmonton market in August saw a healthy increase in new residential listings as compared to August 2020,” says REALTORS® Association of Edmonton Chair Tom Shearer. “The year-over-year residential unit sales in the GEA were higher than August of last year, while we have started to see slight decreases in the month-to-month activity. The market is starting to balance out after a very busy 18 months with pricing increasing a nominal amount year-over-year.”

Single-family homes averaged 35 days on the market, an 11-day decrease from August of last year. Condos averaged 59 days on the market, a six-day decrease year-over-year, while duplexes averaged 41 days on the market, a 10-day decrease compared to August 2020. Overall, all residential listings averaged 42 days on the market, decreasing by 10 days year-over-year and increasing by three days compared to July 2021.

*The MLS® Home Price Index (HPI) is a measure of real estate prices that provides a clearer picture of market trends over traditional tools such as mean or median average prices. It is designed to be a reliable, consistent, and timely way of measuring changes in home prices over time. You can find more information on the following pages.

MLS® HPI Benchmark Price*

(for all-residential sales in GEA1) August 2021 M/M % Change Y/Y % Change
SFD2 benchmark price $418,100 -0.5% 6.8%
Apartment benchmark price $183,800 -1.1% -0.6%
Townhouse benchmark price $209,300 -1.5% 0.3%
Composite7 benchmark price $347,300 -0.7% 5.7%

What is the MLS® HPI Benchmark Price? Find out here.

MLS® System Activity 2021

(for all-residential sales in GEA1) August 2021 M/M % Change Y/Y % Change
SFD2 average3 selling price – month $460,963 -1.1% 4.9%
SFD median4 selling price – month $420,500 -1.3% 2.4%
Condominium average selling price $227,559 -5.2% -0.8%
Condominium median selling price $215,000 -3.2% 0.0%
All-residential5 average selling price $384,874 -1.3% 2.7%
All-residential median selling price $364,927 -0.5% 2.8%
# residential listings this month 3,177 -6.0% 12.9%
# residential sales this month 2,056 -6.8% 9.7%
# residential inventory at month end 7,689 -4.1% -1.9%
# Total6 MLS® System sales this month 2,584 -6.5% 8.8%
$ Value Total residential sales this month $833,959,317 -7.4% 13.9%
$ Value of total MLS® System sales – month $1,002,957,989 -7.0% 14.5%
$ Value of total MLS® System sales – YTD $8,757,085,846 12.9% 79.4%

1 Greater Edmonton Area (Edmonton and municipalities in the four surrounding counties)
2 Single-family Dwelling
3 Average: The total value of sales in a category divided by the number of properties sold
4 Median: The middle figure in an ordered list of all sales prices
5 Residential includes SFD, condos, duplex/row houses and mobile homes
6 Includes residential, rural and commercial sales
7 Includes SFD, condos, duplex/row houses and mobile homes