On Thursday, November 5, the federal government tabled Budget 2026, and tucked into the housing chapter is a change that matters to anyone who buys, sells or builds homes in Alberta. Ottawa plans to keep the foreign buyer ban in place for two more years, but to carve out new residential properties. Existing homes stay off limits to foreign buyers. Brand new ones will not.

If you have been wondering whether this opens the floodgates, or whether it changes anything for your own plans, here is a plain language walk through what we know, what we do not know yet, and what it means in the Edmonton market.

What Is Changing

The federal ban on foreign purchases of residential property came into force on January 1, 2023. It was first meant to last two years. In February 2024 it was extended to January 1, 2027, and it was set to expire then.

Budget 2026 proposes to extend the ban on foreign purchases of existing residential properties to January 1, 2029, while exempting new residential properties. The government says this keeps the vast majority of the market available for Canadians, while also drawing more investment into new housing supply.

The budget also says Ottawa will keep supporting other measures, including those from other levels of government, that address housing pressures such as speculation. Legislation and a regulatory process are promised "in short order."

The most important point for today: this is a proposal. Until legislation passes and regulations are written, the ban applies exactly as it does now.

A Quick Refresher on How the Ban Works

The ban applies to people who are not Canadian citizens or permanent residents, and to corporations controlled by them. It covers residential property in urban areas, meaning detached homes, semi detached homes, townhomes and condo units, along with buildings of up to three units, and it includes vacant land zoned for residential use. Buildings with four or more units and rural or recreational properties are not covered. The Edmonton area is covered.

There are exceptions that already exist. Certain temporary residents such as qualifying workers and international students, refugees and protected persons, and spouses buying with an eligible Canadian partner can buy under set conditions. There is also an exception for buying property to develop it.

The penalties are real. A foreign buyer who breaks the rule can face a fine of up to $10,000 and a court can order the property sold. Anyone who knowingly helps a prohibited purchase can face the same fine, which is why we take buyer status seriously on every file.

What We Still Do Not Know

The budget does not define "new residential property," and it does not give an effective date. Those details will decide how much this matters in practice. A few questions we are watching:

1. Does "new" mean only a home that has never been lived in, bought directly from the builder?

2. Does it include presale condos and homes bought before construction is finished?

3. What happens when a foreign owner later sells that new home? Does the next buyer face any restriction, and does the unit become "existing" the day it changes hands?

4. Will there be occupancy or resale conditions to prevent short term flipping?

5. Will land and lots count, or only completed homes?

Until the regulations answer these, anyone who is not a Canadian citizen or permanent resident should not assume a purchase is allowed. Talk to a real estate lawyer first.

Why Builders Asked for This

The home building sector has been asking for this change. The argument is simple. Presales are how many projects get financed, and foreign capital has historically helped bring shovels to the ground, with the Canadian Home Builders Association pointing out that those buyers take on early risk. The sector has argued that opening new construction to them would help get more homes built. Australia, which faces a similar housing shortage, bans foreign purchases of existing homes but allows new builds, and that model has been discussed as a template for Canada.

Critics will point to the other side. Affordability is the reason the ban exists, and some will worry that foreign money chasing new condos could push up prices at the entry level, or that it adds to speculation. Ottawa is betting that protecting the existing home market while opening new construction strikes the right balance. Reasonable people can disagree, and the evidence on how much foreign buyers move prices has always been debated.

What It Means for the Edmonton Market

Edmonton is an interesting place to see this land. Our builders have been busy. CMHC reports that Edmonton hit a record 21,337 housing starts in 2025, and while construction has moderated in 2026, with CMHC noting starts down more than 20 percent, activity is still above recent historical averages. CMHC also ranks Edmonton at the top nationally for its balance of housing supply and demand.

The resale market is softer. The REALTORS Association of Edmonton reported 1,959 sales in September 2026, down 8.8 percent from August and 10.3 percent from September 2025. New listings were 3,864, up 11.3 percent year over year, and inventory was up 16.7 percent from a year ago. The average residential price was $466,080, up 2.9 percent year over year, with detached homes averaging $569,820 and apartment condos averaging $208,672. In other words, Edmonton is moving toward balance, with more choice for buyers and less urgency.

Here is the practical read. In a market with growing inventory and unabsorbed new homes in some segments, an extra pool of buyers for new construction could help builders move projects forward. But Edmonton does not have the price pressure of Toronto or Vancouver, and unlike Ontario and British Columbia, we do not add a provincial or municipal foreign buyer tax. The ban was never the main thing holding Edmonton back, so we would expect any effect here to be modest and to show up first in new condo and townhome projects.

If You Are Buying

1. If you are a Canadian citizen or permanent resident, nothing changes for you. You are not affected by the ban or by this exemption.

2. If you are relocating to Edmonton from Ontario or anywhere else in Canada, you are a Canadian buyer. Your move is not touched by this, and you will have more inventory and negotiating room than buyers did a year or two ago.

3. If you are considering a new build, ask the builder directly how they will handle buyer status, deposits and closing while the rules are still being written. Get answers in writing.

4. If you are buying a new condo, read the disclosure and condo documents carefully, including the budget, reserve fund plan and any special assessment history. New does not mean risk free.

5. If you are not a Canadian citizen or permanent resident, check with a real estate lawyer before you make any offer. Existing homes remain restricted, and the new home exemption is not law yet.

If You Are Selling

Will this raise the value of my resale home? Probably not in any big way. The exemption points foreign demand toward new construction, not existing homes, so we do not expect it to push resale prices up.

Could it hurt my resale home? It may add some competition for buyers, since a new build becomes slightly more attractive to a wider pool of buyers. That is a small factor next to pricing, condition and timing.

Does it matter if I am selling to a buyer from outside Canada? Yes. If your buyer is a foreign national, the ban still applies to your existing home unless an exception fits. Your REALTOR should confirm buyer status early so your deal does not fall apart later.

I own a new build and plan to sell soon. Should I worry? Watch the regulations. How "new" is defined and what happens on resale could affect who can buy your home.

What to Watch Over the Next Year

The key dates and details to follow are the draft legislation, the regulations that define new residential property, and the effective date for the exemption. We also expect to see how builders respond with presale launches in Edmonton and area communities such as Sherwood Park, St. Albert, Leduc, Beaumont, Spruce Grove and Fort Saskatchewan. Mortgage rates, immigration levels and the fall slowdown in resale activity will matter more to most Edmonton buyers and sellers than this change.

The Bottom Line

This is a targeted change, not a reopening of the market. Existing homes stay protected for Canadians through at least January 1, 2029, new homes are set to become available to foreign buyers once the rules are finalized, and for most Edmonton families the day to day impact will be small. What does matter is knowing exactly where you stand before you buy or sell, and the details are still to come.

If you have questions about how this affects your plans, or you are weighing a new build against a resale home, call or message us and we will walk you through it.

780-905-6255 · thereteam.ca

Mary Bark & David Szusz, The Real Estate Team, RE/MAX River City

Sources: Government of Canada, Budget 2026, Chapter 3 (November 5, 2026); Canadian Mortgage Trends/Bloomberg (November 2026); Daily Hive (November 2026); Castanet (November 2026); The Realist (November 2026); federal foreign buyer prohibition Act and Regulations, commentary by Cassels and Fasken; Canadian Press via Advisor.ca (February 2024); REALTORS Association of Edmonton September 2026 statistics, via CREA and Daily Hive; CMHC Spring and Fall 2026 Housing Supply Reports, via Western Standard; REALTORS Association of Edmonton Q2 2026 Quarterly Market Report.

Edmonton's housing market is easing into the late fall, and a Bank of Canada rate increase has arrived just as buyers and sellers are planning their next move. Here is what the October numbers say and how to use them.

Edmonton Market Snapshot, October 2026

The REALTORS® Association of Edmonton reported 1,882 residential sales across the Greater Edmonton Area in October, down 3.5% from September and down 8.3% from October 2025. New listings came in at 3,264, down 11.2% from September but up 2.9% from a year ago. Inventory slipped 6.6% from September, yet it remains 15.2% higher than last October. Monthly statistics put the market at roughly 4.0 months of inventory, which is balanced territory.

The average selling price across all residential types was $457,641, down 2.0% from September and up 0.5% from a year earlier. Prices are steady, not surging, and buyers have more choice than they did last fall.

Prices by property type tell a more detailed story:

Detached homes averaged $550,510, down 3.4% from September and down 1.8% from last year. Sales fell 5.3% month over month.

Semi detached homes averaged $410,683, down 0.6% from September and down 4.3% year over year. Sales rose 16.1% from September.

Row and townhomes averaged $297,691, up 2.9% from September and up 0.1% from last year.

Apartment condominiums averaged $213,245, up 1.8% from September and up 5.1% year over year, although sales fell 19.6% from September and 30.9% from last year.

Darlene Reid, 2026 Board Chair of the REALTORS® Association of Edmonton, noted that activity is tapering off seasonally as sales, new listings and average prices decreased last month. She also pointed out that sellers should not be discouraged, since serious buyers are active this time of year and the right home can still compete.

The Bank of Canada Rate Increase

On October 28, the Bank of Canada raised its target overnight rate by 25 basis points to 2.5%. The Bank pointed to high energy costs and rising input prices and left the door open to further increases. The next scheduled announcement is December 9.

For mortgage holders, the effect depends on the product. Variable rate borrowers will see their costs rise right away as prime rates move up. Fixed rate mortgages are unaffected until renewal, though rising bond yields are expected to push up fixed rates for new mortgages and renewals. A higher rate also trims borrowing power, so it is worth confirming your numbers before you shop.

What This Means If You Are Buying

You have more selection and more time than a year ago, and homes in several categories are holding steady in price. Speak with your lender now, compare fixed and variable options, and get pre approved before the next rate announcement. Condo buyers should review the condo documents carefully, including the reserve fund and recent special assessments. If you are relocating from another part of Canada, we can arrange video tours and prepare you before you arrive.

What This Means If You Are Selling

Serious buyers are still out there, and well priced homes continue to attract them. Price to the current market, invest in strong photography, and be ready for buyers who are watching their budgets closely after the rate move. Overpricing in a balanced market usually means more days on market and a price reduction later.

Thinking About a Move?

Averages never tell the whole story of your street or your home. For a custom value or a search built around your budget, contact Mary Bark and David Szusz of RE/MAX River City.

Mary Bark and David Szusz, RE/MAX River City, thereteam.ca, 780.905.6255

Sources: REALTORS® Association of Edmonton, October 2026 market release (Greater Edmonton Area), published November 3, 2026. Inventory months from RAE October 2026 monthly statistics. Bank of Canada decision of October 28, 2026, as summarized by RE/MAX Canada.

Your straight answer guide to the quiet shift in who is building what in Alberta, and what it means if you are buying a first home or planning your move up.

Over the past few weeks, owners at The Berkeley, a downtown Edmonton condo building near 101 Avenue and 116 Street, have gone public about letters from investment firms offering to buy their units. Some owners have used the word predatory. Their concern is that enough units in the hands of one buyer can turn an entire building into a rental. That is called a condo deconversion, and it matters to anyone buying or selling in Edmonton and Area, because condos are the front door to ownership for a huge share of first time buyers.

What a Deconversion Actually Is

There are two versions. In the first, an investor buys up units in a building that already exists, then moves to wind up the condo and operate the whole building as rentals. Under Alberta's Condominium Property Act, condo status can be terminated by a court application or by a unanimous vote of owners, and once the termination is registered, the condo corporation ceases to exist. A judge hearing a termination application has to be satisfied that it is just and equitable when the rights and interests of the owners as a whole are considered. The Realtors Association of Edmonton has asked the province to give a group that owns multiple units just one vote, so it cannot force other owners out. Service Alberta's minister has said his office is aware of the concerns and is looking into them.

In the second version, a developer plans a condo project and switches it to rental before or during construction. CMHC says this is happening in some markets because rental projects currently have better financing and policy support than condos that struggle to sell.

None of this is brand new. Back in 2014, Edmonton brokers were describing condo to rental conversions as one of the biggest forces in the local apartment market. What is different now is the scale of rental construction sitting behind it.

What Edmonton Owners Are Reporting

In late September, Global News reported that owners and board members at The Berkeley were being flooded with letters from companies offering to buy their units. The letters promoted converting the building to rentals and promised above market prices. Owners worried that a company could reach a majority voting stake and leave everyone else with few options.

Darlene Reid, board chair of the Realtors Association of Edmonton, described the pattern. Rather than approaching the board with an offer for the whole building, she said, firms approach individual owners one at a time until they hold a controlling interest. From there they can take control of the board and issue special assessments or levies that remaining owners may not be able to afford. She also raised the concern that a building's reserve fund, which can reach seven figures, can end up as the down payment on a company's next acquisition. Reid said the approach is showing up at several Edmonton buildings, and called it legal but, in her view, not ethical.

Harmani Investments, an Edmonton company named by owners, told Global News its goal is long term rental housing, that it makes voluntary offers and that it exercises the rights that come with the units it owns. The company acknowledged that not everyone supports condo deconversion.

According to CTV News Edmonton, about three quarters of the owners at The Berkeley have formed a coalition to resist the offers. Reid also pointed out that units can be worth a lot more when sold as part of a whole building than as individual units, which is why owners should understand the full picture before they respond to any letter.

Investor ownership of rentals is already high here. A 2023 CBC analysis of research on the topic reported that investors owned about 48% of purpose built rentals in Edmonton, nearly double the 20 to 30% estimated nationally.

Rental Versus Ownership: What the Construction Numbers Say

CMHC publishes starts by tenure for Edmonton and Calgary, so those are the Alberta markets we can measure directly.

Across Canada's seven largest markets, which include Edmonton and Calgary, purpose built rental apartment starts hit 69,475 in 2025, double the 34,259 condo apartment starts. In 2019 the picture was reversed, with 28,877 rental starts against 47,719 condo starts.

Alberta housing starts are down 16% from January to August 2026, 30,557 compared with 36,177 a year earlier, in centres with populations of 10,000 or more.

In Edmonton, total starts fell 20% in the first half of 2026 after two record years, and CMHC says softer rental conditions are a big reason developers are being more selective.

Edmonton is bucking the national condo story. Condo apartment starts rose 14% in the first half of 2026, now make up nearly one quarter of apartment starts compared with about 3% in 2023, and completed unsold condo inventory fell by almost half. For perspective, the City of Toronto started only 156 condo units in the same six months, against an average of about 7,000 a year over the previous decade.

In Calgary, rental starts dropped more than 30% in the first half while ownership demand held up better, and unsold condo inventory fell 59%.

The takeaway: Edmonton is still building ownership housing, which is good news. But existing condo buildings are where the deconversion risk sits, and that is the stock many first time buyers rely on.

Why Entry Level Supply Matters So Much

Here is the ownership ladder in Greater Edmonton as of August 2026, using median prices:

Apartment condo: $190,000

Row or townhouse: $292,450

Semi detached: $417,500

Detached: $525,000

Every deconverted building removes rungs from the bottom of that ladder. First time buyers lose lower priced inventory, and renters who might have bought in a few years stay renters. Owners who sell into a bulk deal may get a good price, but the building leaves the ownership market for good.

The Missing Middle: Where Move Up Buyers Get Squeezed

The townhome is the step between a condo and a semi or detached home, and it is the one to watch. CMHC expects total new home starts in Edmonton to fall for a fifth year in a row, with single detached, semi detached and row home starts all expected to fall again in 2026.

The monthly data bundles semis, rows and apartments into one "all others" category, so we cannot isolate townhome starts precisely. What we can see is that from January to August 2026, Edmonton area single detached starts were down 17% (3,941 versus 4,732) and all other types were down 13% (8,713 versus 9,969).

There is encouraging news too. CMHC reports that missing middle housing kept expanding in Edmonton in 2025, and the City of Edmonton had permits in place for about 97% of its target of more than 7,700 missing middle units by November 2026. Edmonton also has no measurable housing supply gap according to CMHC, which puts it in far better shape than most big cities.

For now, move up buyers have the advantage. Townhome inventory is up 32.7% from a year ago, homes are averaging 45 days on market, and the median price is down 0.9%. The risk is further out. If the pipeline of new townhomes thins while demand recovers, the same squeeze that hit other markets can show up here.

What This Means If You're a First Time Buyer

1. Treat the condo documents as seriously as the unit. Have your lawyer review the reserve fund, the bylaws and the building's finances before you remove conditions.

2. Ask who owns the building. If one investor already holds a large share of the units, or the board says firms have been approaching owners, that matters for your future voting power, your condo fees and your resale.

3. Use your leverage. Apartment condos are sitting at about 5.1 months of supply, which is a buyer's market with room to negotiate.

4. Look at townhomes early. At a median of $292,450, a row home can be a smarter first purchase than many people expect, with a yard or garage and a built in path to your next move.

What This Means If You Own a Condo or Townhome

Question: What should I do if an investment firm sends me an offer?

Answer: Do not sign or commit to anything on the first conversation. Units can be worth considerably more when sold as part of a whole building, so get independent legal advice and a current market comparison before you respond. Tell your condo board about the offer too, since other owners are likely getting the same letter and coordinating can change the outcome. We are not lawyers, but we are glad to walk you through what your unit is worth today.

Question: Should I sell before my building changes hands?

Answer: It depends on your building, your timeline and how many units are already held by one party. That is a street by street conversation.

Question: I am ready to move up from a condo. Is now a good time?

Answer: Selling an apartment condo is the tougher side of this trade right now, while townhome and semi buyers have more selection and negotiating room. Timing both sides well is worth planning in advance.

The Bottom Line

Edmonton and Area is still building homes people can afford to own, and that sets us apart from most of the country. But the bottom rungs of the ladder are not guaranteed, and the middle rung is the one to watch over the next couple of years. If you are buying your first home, moving up from a condo, or holding a letter from an investor, we would rather talk it through than have you guess.

Have a question about your building, your price point or your timeline? Reach out, we will give you a straight answer.

780-905-6255 · thereteam.ca

Mary Bark & David Szusz, The Real Estate Team, RE/MAX River City

Sources: CMHC Fall 2026 Housing Supply Report, CMHC Housing Market Outlook 2026, CMHC housing starts data for August and September 2026, CMHC Spring 2026 Housing Supply Report, Global News (September 29, 2026), CTV News Edmonton (October 7, 2026), CBC News Edmonton, CBC News investor ownership analysis (2023), Alberta Condominium Property Act, Mortgages for Less Edmonton August 2026 market report, Canadian Apartment Magazine.

St. Albert continues to be one of the most searched communities in the Edmonton area, and the latest figures show a market that is active, steady, and rewarding for well prepared buyers and sellers. Here is a clear look at where home prices and demand stand today.

St. Albert Market Snapshot, August 2026

The most recent full month of St. Albert data from the REALTORS® Association of Edmonton shows the following:

Average sale price: $531,000 for all home types, up 2.5% from August 2025.

Average asking price: $560,000, essentially flat compared with last year.

Sales: 135 homes sold, up nearly 23% from the same month last year.

New listings: 167, down about 15% from August 2025.

Average days on market: 35 days, compared with 34 a year ago.

Ask to sell ratio: 1.000, meaning homes sold right at their asking price on average.

Year to date, the average St. Albert sale price sits at $552,000, up about 4% from the same period in 2025. Average days on market for the year is 42, up from 38 last year, which tells us the pace has relaxed slightly compared with a year ago even as August sales picked up.

For single family homes, other August reporting put the average price at $625,434, up roughly 6% year over year, with 88 detached sales in the month.

How St. Albert Compares to the Region

Across the Greater Edmonton Area, September 2026 data shows an average selling price of $466,080, up 2.9% year over year, and a benchmark price of $423,100. Regional inventory is up 16.7% from last year, which gives buyers more choice across the market. St. Albert's average price sits well above the regional figure, a reminder of how strongly families value its schools, trails, and community feel.

What This Means If You Are Buying

Sales are up while new listings are down, so the best homes are not sitting around. With homes selling at about asking price, there is little room to assume a big discount, but there is also no sign of the bidding war frenzy from earlier years. Get your financing in place, know your top priorities, and be ready to act on a home that checks your boxes. Properties that have been listed longer than the 35 day average may offer more room to negotiate on terms.

What This Means If You Are Selling

Fewer new listings means less competition for your home, and the ask to sell ratio shows that realistic pricing is being rewarded. Price your home to match current sold comparables rather than last year's headlines, and present it well. Homes priced correctly from day one tend to attract the strongest early interest, while overpriced listings are the ones that stretch the days on market figure.

Thinking About Your Next Move in St. Albert?

Averages are a starting point, and every street and price range moves a little differently. If you would like a straight answer on what your home is worth or what your budget can buy in St. Albert, we would be glad to walk you through it.

Mary Bark and David Szusz, REALTORS® with RE/MAX River City, serve St. Albert, Sherwood Park, Leduc, Beaumont, and all of Edmonton and area.

Mary Bark and David Szusz, RE/MAX River City, thereteam.ca, 780.905.6255

Sources: REALTORS® Association of Edmonton data as reported by Christina Reid, Century 21 (St. Albert Real Estate Market Statistics Update, August 2026); Yahoo News Canada (October 1, 2026); Daily Hive Edmonton (October 5, 2026).

By Mary Bark & David Szusz, The Real Estate Team, REMAX River City

Published October 8, 2026

If you own a home in an established Edmonton neighbourhood, are shopping for an infill property or are considering selling a lot with redevelopment potential, the latest provincial announcement is worth understanding.

The first step is to separate the announcement from what can actually be approved on a particular property. A headline cannot tell you the full story of a lot, an application or a construction project.

What has been announced?

On October 8, Alberta directed Edmonton to restore parameters for high density infill housing types, density and height from before its 2024 zoning changes, along with minimum on site parking requirements from before 2020. The City has three months to amend its bylaw and 18 months for a broader review involving public and industry consultation.

The province describes its goal as supporting appropriately scaled infill with adequate infrastructure, rather than ending infill development.

Source: Government of Alberta, Growing neighbourhoods responsibly, October 8, 2026.

What is infill housing?

Infill means adding housing within an existing neighbourhood. Depending on the site and applicable approvals, that might involve replacing an older home or adding more homes to an already developed area. It is a broad term, so it helps to ask what kind of project is being discussed.

Does this mean every project stops immediately?

The provincial news release sets a timetable for bylaw changes. It does not explain how every existing permit, pending application or project under construction will be treated.

Avoid assuming an approved project has been cancelled, or that an unapproved proposal can proceed under earlier rules. Those are different situations. Before making a purchase or development decision, ask the City for current, property specific confirmation of the applicable rules and permit status.

If you are buying a home

Look at both the home and the surrounding properties. What exists today? Are there active applications or approved projects nearby? What questions about parking, privacy or access would affect your decision?

If redevelopment potential is part of the appeal, make it a separate due diligence item. Ask for documentation supporting the proposed use, rather than relying on a listing description, an old drawing or what was possible on a neighbouring lot.

Your questions should include:

• What rules apply to this specific parcel at the time of purchase?

• Is the proposed project approved, under review or only a concept?

• What parking and servicing requirements need to be confirmed?

• Could the transition affect the intended use or timeline?

If you are selling

Be precise about what you are offering. An existing home, a lot with potential and a property with an approved development permit are different propositions.

If your marketing mentions redevelopment, review the wording and supporting information before going live. Buyers should be able to distinguish confirmed approvals from possibilities that still require investigation.

There is also no sound basis for promising that this announcement alone will increase or decrease the value of every home. For your selling plan, focus on relevant comparable sales, current competition and the features of your property, while monitoring how buyers respond to the evolving rules.

If you already own a home nearby

Start with the specific project or concern. A useful question is, “What has been applied for or approved at this address?” That creates a clearer conversation than relying on a general description of what might be built.

Keep an eye on the City's implementation updates and opportunities to participate in consultation. Save the date and source of any information you rely on, because an early announcement and the final adopted wording may answer different questions.

Planning your next move?

Whether you are buying, selling or weighing the potential of a property, our team can help identify the questions that matter to your decision and where additional confirmation is needed.

Connect with Mary Bark & David Szusz at The Real Estate Team through thereteam.ca.

REMAX River City

Information reflects the October 8, 2026 provincial announcement. Confirm current requirements and the treatment of individual permits and applications directly with the City of Edmonton before relying on development potential.

Sherwood Park buyers and sellers got a change of pace in August. After a busy spring and early summer, activity cooled while home values held steady. If you are searching for Sherwood Park home prices or wondering what the market is doing right now, here is what the latest numbers show.

Sherwood Park Market Snapshot, August 2026

Average sale price: $520,000. That is up about 2.2% from roughly $509,000 in August 2025. Prices are climbing, but gently.

Homes sold: 96. Sales were down about 20.7% from 121 in August last year, a clear sign of a more relaxed pace.

Average days on market: 40. A year ago the average was about 31 days, so homes are taking roughly nine days longer to sell.

New listings: 146. That is down about 7% from 157 a year earlier, so sellers are not flooding the market.

Sale to asking price: about 99.8%. Homes that sold still closed very close to the asking price.

Average asking price: $586,000. Asking prices are up about 11% year over year, which suggests some sellers are listing higher than recent sales support.

The Bigger Picture

Looking at January through August 2026, the market is steadier than the August numbers alone might suggest. Sales are up about 1.6% over the same period in 2025, with 1,012 homes sold. The year to date average sale price is $524,000, up about 2.7%. Average days on market sit at 35, compared with 29 last year.

In plain terms, Sherwood Park is moving from a fast market toward a more balanced one. That is a transition, not a downturn.

What This Means for Buyers

Buyers have a little more room to breathe. Longer days on market mean less pressure to make a rushed decision, and more time to compare homes, book second showings, and negotiate terms. With homes selling near asking price, the best results still come from being well prepared, with financing approved and a clear picture of what comparable homes have actually sold for.

What This Means for Sellers

Sellers still have a healthy market, but pricing matters more than it did in the spring. The gap between average asking price and average sale price is a reminder that homes priced to recent sales attract the strongest interest, while overpriced listings tend to sit. Good photography, careful preparation, and a pricing strategy based on current comparables make a real difference.

Thinking About Making a Move in Sherwood Park?

Every street and every home is different, and averages only tell part of the story. If you want to know what your home could sell for, or what your budget can buy in Sherwood Park, Strathcona County, or anywhere across the Edmonton area, we would be glad to help.

Mary Bark and David Szusz are REALTORS® with RE/MAX River City, serving Edmonton, Sherwood Park, St. Albert, Leduc, Beaumont, and rural Strathcona, Sturgeon, and Parkland Counties.

Market data source: Sherwood Park Real Estate Market Update, August 2026 Statistics, Chris Reid, Century 21 Leading, published September 24, 2026. Figures are averages and can vary by neighbourhood and property type.

Mary Bark and David Szusz, RE/MAX River City, thereteam.ca, 780.905.6255

Posted September 22, 2026 by Mary Bark

If you have been watching the St. Albert market this year, you already know it has been quieter than the sprint we saw through 2023 and 2024. The latest numbers from the Realtors Association of Edmonton, covering July 2026, confirm that the market has settled into a steadier rhythm. Prices are still climbing, but the pace of activity has slowed enough that both buyers and sellers need a clear read on what is actually happening before making a move.

The St. Albert Market Snapshot

The average sale price in St. Albert reached $550,000 in July 2026, up 3.24 percent compared with the same month last year. Year to date, the average sale price sits at $555,000, up 4.29 percent from the same period in 2025, so the appreciation trend has held steady through the first seven months of the year.

The average asking price, meanwhile, was $527,000, down 2.93 percent from last year. That gap between a lower asking price and a higher sale price tells the real story, sellers are pricing more realistically to attract offers, and it is working. The ask to sell ratio sits at just over 100 percent, meaning homes are generally selling at or slightly above list price.

Homes sold in an average of 38 days in July, which is actually 9.52 percent faster than a year ago, even though overall sales activity has cooled. Only 140 properties sold in July, down 17.65 percent year over year, and new listings were down 7.69 percent to 180. Fewer homes are changing hands, but the ones that do are moving briskly. Looking at the full year so far, days on market have crept up to 43 on average, about 13 percent slower than the first seven months of 2025, a reminder that any single month can move faster or slower than the broader trend.

What This Means If You Are Buying

Fewer new listings means less to choose from, so if you find a home that fits, do not assume you have unlimited time to decide. Homes that are priced realistically are still selling close to or slightly above asking, which tells us serious buyers are competing for the right property even in a calmer overall market. Get your financing lined up before you start touring so you can move quickly once the right listing appears.

What This Means If You Are Selling

The drop in new listings actually works in your favor. With less competition on the market, homes that are positioned well are selling in under six weeks on average. Pricing still matters more than it did during the peak years, buyers are comparing carefully, but a realistic asking price paired with strong presentation is producing solid results. This is not a market where you need to discount aggressively to attract interest.

The Bottom Line

St. Albert has moved from an intensely competitive seller's market into something steadier, prices still rising, activity somewhat cooler, and homes that are priced right still selling quickly. Whether you are buying your first home here or getting ready to list, the numbers say this is a market that rewards preparation over guesswork.

Curious what these numbers mean for your specific street or price range? Let's talk it through.

Mary Bark and David Szusz, RE/MAX River City, thereteam.ca, 780.905.6255

Sources: Realtors Association of Edmonton market statistics, reported by Christina Reid, Century 21 (St. Albert Real Estate Market Statistics Update, July 2026).

Fall is creeping into the river valley, the Oilers are gearing up for another season, and the Edmonton housing market is doing something it hasn't done in years: quietly handing buyers a bit of breathing room. If you've been sitting on the fence about buying, selling, or adding to your investment portfolio in YEG, here's your no-fluff, straight-from-the-street breakdown of where things stand right now.

The Big Picture: A Market Finding Its Balance

Edmonton's composite benchmark home price sat at $429,100 in July, essentially flat compared to a year ago. That's not a typo — after a couple of years of Edmonton grabbing headlines for double-digit price growth, things have cooled into something far more sustainable. Resale residential homes averaged $423,900, up a modest 2.1% year-over-year, and the sales-to-new-listings ratio points to genuinely balanced conditions.

Translation: this isn't a crash, and it isn't a frenzy. It's a market that's finally behaving like a grown-up.

Inventory has been building steadily while new listings hold roughly flat, which means buyers are getting more selection and a little more negotiating power than they've seen in years. Condos are where the shift is most obvious — condo sales fell 21.3% year-over-year in July, the steepest drop of any property type in the city, which tells us softening demand is concentrated there rather than spread evenly across the board.

And Edmonton is still doing what Edmonton does best: staying affordable. At roughly $429,100, our benchmark price is well below Calgary's $569,200 and a fraction of what you'd pay in Toronto or Vancouver. That affordability gap is the quiet engine behind a lot of the interest we're still seeing from out-of-province buyers and investors.

For Buyers: More Room to Breathe (and Negotiate)

If you've been priced out of Edmonton in past years, this is worth paying attention to. With inventory up and the market edging toward buyer-favourable territory, you have more to choose from and more leverage at the negotiating table — think conditions on financing and inspection actually getting accepted, and less pressure to waive them just to compete.

On the financing side, the Bank of Canada held its policy rate at 2.25% on September 2nd, the seventh hold in a row, and lenders' prime rate is sitting steady at 4.45%. The best 5-year fixed rates in Edmonton are hovering around 4.24%. The takeaway: rates aren't dropping further this year, so if your pre-approval math works today, waiting for a rate cut probably isn't the winning strategy. Buying in a balanced market with predictable rates beats trying to time a market that isn't moving.

For Sellers: Pricing Right Matters More Than Ever

With the benchmark price down slightly month-over-month and buyers gaining options, the "list high and see what happens" approach is riskier than it was two years ago. Homes priced accurately for their condition and neighbourhood are still moving — Edmonton remains a genuinely healthy market — but overpricing now tends to mean sitting longer and eventually chasing the market down instead of catching it at the top.

If you're thinking about listing this fall, lean into what's still working in your favour: steady buyer demand, strong affordability optics compared to other major Canadian cities, and continued interest from newcomers relocating to Alberta. A sharp pricing strategy and solid presentation will do more for you right now than trying to squeeze out top dollar with an aggressive number.

For Investors: The Rental Story Is Still Strong

While resale condos have softened, the rental side of the market tells a different, more encouraging story. Vacancy sits in the low-to-mid 3% range across the city, with rental condos running especially tight at around 1.7% vacancy — a clear sign that demand for well-located rental units hasn't gone anywhere. CMHC projections put average two-bedroom rents around $1,624 for 2026.

Combine that with an average home price still well under half a million dollars, and Edmonton continues to pencil out as one of the more accessible cash-flow markets in the country compared to Calgary, Toronto, or Vancouver. Softer condo resale prices paired with strong rental fundamentals can actually be a gift for investors buying now — you may be picking up units at a more reasonable basis while rental demand keeps climbing.

The Takeaway

Edmonton's market this September is calm, balanced, and, frankly, a nice change of pace from the whiplash of recent years. Buyers have more room to shop and negotiate. Sellers who price smart are still winning. And investors are looking at a rental market with real staying power underneath a resale market that's taking a breather.

Whether you're buying your first home, listing your current one, or looking to grow your portfolio, the fundamentals here are worth a real conversation — not just a headline. Reach out anytime to talk through what this market means for your specific situation.

Market data referenced from the REALTORS® Association of Edmonton, CREA, WOWA.ca, CMHC, and the Bank of Canada, current as of early September 2026.

A first time buyer in Canada can now combine the First Home Savings Account, a Home Buyers' Plan withdrawal of up to $60,000, and a federal tax credit, and if they are buying new construction, a GST rebate worth up to $50,000, all in the same purchase.

Most of the confusion buyers run into is not a lack of programs, it is outdated information. A program that helped buyers for years was quietly shut down in 2024, and new tools have replaced it. If you are getting ready to buy your first home in Edmonton and Area, here is what is actually true right now.

What is gone

The federal First Time Home Buyer Incentive, the program where the government contributed 5 or 10 percent toward your down payment in exchange for a share of your home's equity, was discontinued in March 2024. If a friend, a blog post, or an old mortgage brochure mentions it, that information is out of date. No new applications are being accepted, full stop.

What is actually working for you in 2026

First Home Savings Account. This is the strongest tool available right now. Contributions are tax deductible like an RRSP, and withdrawals for a qualifying first home are completely tax free like a TFSA. You can contribute up to $8,000 per year, up to a $40,000 lifetime limit. If you have a partner also buying for the first time, that is $80,000 combined before you have touched anything else.

RRSP Home Buyers' Plan. The withdrawal limit was raised to $60,000 from RRSP savings, tax free, to put toward your first home. It gets repaid over 15 years, interest free, directly into your own RRSP.

Home Buyers' Tax Credit. A $10,000 amount claimed on your tax return generates a $1,500 non refundable federal credit. It is easy to miss because it happens at tax time rather than at closing, but it is real money back.

GST or HST rebate on new construction. If you are buying new, a first time buyer rebate now covers the full GST on homes up to $1 million, with a partial rebate up to $1.5 million. For a new build in a community like Chappelle or Terwillegar Towne, this can mean tens of thousands of dollars back.

30 year amortization on insured mortgages. First time buyers purchasing new construction can now access 30 year amortizations on insured mortgages, up from the traditional 25, which lowers the monthly payment even if it adds interest over the life of the loan.

Why Alberta buyers have it a little easier

Unlike Ontario or British Columbia, Alberta does not charge a provincial land transfer tax, so there is no land transfer rebate to chase here because there is no land transfer tax to rebate. That is one less form to fill out and one more reason your closing costs in Edmonton and Area tend to run lighter than in Toronto or Vancouver.

Where this actually lands for Edmonton buyers

Condo and apartment style homes across the region carry a benchmark price around $202,000, a genuinely accessible entry point once you stack even one or two of these programs against a down payment. A couple maximizing their FHSAs and Home Buyers' Plan withdrawals could realistically bring $100,000 or more in tax advantaged funds to a first purchase, before a single dollar of their own regular savings comes into play.

The bottom line

The programs exist, they are generous, and most first time buyers are only using one or two of them without realizing the rest are sitting right there. The bigger risk is planning around a program that no longer exists rather than the ones that do.

If you are a first time buyer trying to figure out which of these actually apply to you, or want a straight answer on what you can afford in today's market, Mary Bark and David Szusz walk Edmonton and Area buyers through exactly this every week, no pressure, just the real numbers.

The Real Estate Team, RE/MAX River City 780 905 6255 · thereteam.ca

Edmonton's benchmark home price fell to $431,300 in June 2026, down slightly from May and 2.1 percent lower than a year earlier, marking one of the clearest signs yet that the region's tight seller's market is loosening.

For the past two years, "Edmonton and Area" has been one of the hottest markets in the country. Bidding wars, multiple offers, and homes selling in days rather than weeks became the norm. That story is changing, and if you are buying, selling, or holding property here, the shift matters.

What actually happened in June

According to the Realtors Association of Edmonton, the Greater Edmonton Area recorded 2,746 sales in June 2026. That is a solid jump from May, but still down 4.1 percent compared to June 2025. New listings came in at 4,475, and while that number pulled back slightly from the month before, it is up more than 10 percent from a year ago. Put those two trends together and inventory across the region is now sitting 22.2 percent higher than it was last June.

More listings, softer sales, and a benchmark price that has edged down for two straight months all point the same direction. Edmonton is moving from a seller's market toward something closer to balanced. Single family detached homes told a similar story, with benchmark prices dipping slightly month over month even as they held modest year over year gains.

What this means if you are selling

A balanced market does not mean your home won't sell, it means the strategy that worked in 2024 will not automatically work in 2026. Overpricing and waiting for a bidding war is a far riskier bet today than it was even six months ago. Pricing accurately from day one, presenting the home well, and being ready to negotiate are what separate a 10 day sale from a 60 day sale right now.

What this means if you are buying

If you have been priced out or outbid in the last two years, this shift is good news. More inventory means more selection and more room to negotiate on price, closing dates, and conditions. Buyers who felt like they had no leverage in 2024 are starting to get some back.

What this means if you are investing

Softer prices paired with Edmonton's continued population growth is a combination worth paying attention to. Values are not spiking, but the underlying demand that supports rents and long term appreciation has not gone anywhere. For investors, a cooling price environment with strong population fundamentals is often the window worth watching closely, not avoiding.

The bottom line

Numbers shift month to month, but the trend across June points to a market recalibrating after two intense years. Whether that means adjusting your asking price, finally making an offer, or reassessing your investment timeline, the right move depends on your specific property, neighbourhood, and goals.

If you want a straight answer on what this means for your street, your price range, or your next purchase, reach out. Mary Bark and David Szusz have helped families and investors across Edmonton, Sherwood Park, St. Albert, Leduc, Beaumont, and the surrounding area navigate exactly this kind of shift, and we would rather give you the real picture than a sales pitch.

The Real Estate Team, RE/MAX River City 780 905 6255 · thereteam.ca