January is, and likely always will be, the second slowest month for the Edmonton housing market year after year - second only to December. Just check out the Alberta Economic Dashboard graph on MLS total sales for a visualization of the seasonality that drives our market.
The 2026 property market has kicked off with a notable replenishment of supply (houses actively listed for sale). While sales saw a seasonal and year-over-year dip, new listings surged by over 84% compared to December, providing buyers with much-needed choice as we move into the first quarter. More choice is great, right? For buyers. For sellers, it means more competition - you’re not the only game in town anymore. Let’s dig in to the numbers.
At a Glance — Greater Edmonton Area (January 2026)
Sales slowed from December—a typical seasonal trend—but new listings flooded in at nearly double the previous month's rate. What should not be overlooked is the year-over-year trend. With inventory levels rising to 4,901 units and months of inventory sitting at 4.3, the market is shifting toward a more balanced state compared to the tighter (and at times frantic) conditions seen last year. There are literally 34% more houses on the market today than there were this time last year, yet prices remain stable. That’s an anomaly - more supply typically means prices come down. Given the seasonal bump we see in activity once the snow melts, I anticipate that this spring will see the days-on-market average come down significantly, but only if the surge in inventory settles down a bit.
Market activity has stretched across the board, with Row/Townhouses and Condos spending significantly more time on the market compared to this time last year.
The Bigger Picture: 2026 vs 2025 So Far
As we begin the new year, the Greater Edmonton Area is showing a distinct trend of higher inventory and slower sales velocity compared to the start of 2025:
More choice, slower pace: New residential listings are up nearly 5% year-over-year, while sales have dropped over 27%.
Prices remain resilient: Despite slower sales, the average and median residential prices are both up approximately 3% over last January.
Shift to Balance: A jump from 48 to 59 days on market indicates that buyers are taking more time to evaluate the increased options available to them. It also signals that sellers are not pricing their homes correctly in order to reflect the changes in buyer’s urgency. With more choice comes a need for sellers to be much more competitive. Gone are the days where you can list on Friday and be Sold on Sunday.
What This Means for Buyers
If you were frustrated by the lack of inventory in late 2025, January’s numbers are a breath of fresh air:
Inventory is replenishing. With over 2,500 new listings hitting the market in January alone, you are no longer limited to "leftover" inventory from the fall.
Increased Negotiating Power. Months of inventory have climbed to 4.3, moving the market into a more balanced environment compared to the seller-favored conditions of last year.
Condo Prices are Surging. While other segments are relatively stable, apartment condos saw a massive 11.1% year-over-year price increase. If you’re looking to buy a condo, the "bargain" window may be closing as demand shifts toward more affordable housing options.
Buyer tip: With average days on market now approaching 60 days, don't feel pressured to rush into an offer. Use the extra time to perform thorough due diligence and negotiate on price or conditions.
What This Means for Sellers
The high-inventory start to the year means you have more competition than you might have expected. You’re not just selling your house. You’re selling your house compared to what your neighbors, and others offering a similar product, are also trying to sell. Keep these tips in mind:
Pricing is critical. Detached and townhouse prices have seen year-over-year dips. Buyers have more options now, so overpricing your home could lead to a significantly longer stay on the market. Get a free home evaluation from someone that does this as their full time job (like me). I’m confident enough to say that you should shop around. If there’s a price you absolutely can not go below, a good realtor will tell you what you need to do in order to command that price. If it’s unrealistic, not only should they tell you so, they should also build you a plan to get you that price. This isn’t about opinion - it’s about facts, action items, and data - and if the realtor can’t build a plan, hire someone that can.
Staging and Presentation matter more than ever. In a balanced market, your home needs to stand out. Professional photography and clear marketing are essential to capture interest early. If your agent isn’t willing to hire a professional photographer, assist with staging advice, arrange renovation quotes and truly market your property, including having conversations with buyers agents, knocking on doors in your community, and breaking down barriers, what are you actually paying them for?
The "Apartment Advantage." If you are selling a condo, you are in a strong position relative to other segments, with prices significantly higher than they were a year ago. This has a lot to do with Edmonton’s rapid population growth,. People need a place to live, and ownership is the belle of the ball. Folks that want to start building equity but can’t purchase a single-detached property are flocking to the apartment-style condo market in droves. The aging population and downsizers also makes up a huge proportion of buyers in this segment.
Seller tip: Don't be discouraged by slower sales numbers; they reflect a market returning to a healthy balance. Focus on hitting the "sweet spot" for pricing in your specific neighborhood to ensure you attract serious buyers within the first 7 days. I’m averaging just over a week from listing a home to accepting an offer, so I’m here to tell you that the market average doesn’t have to be your reality. We can move your properly quickly if it’s done right.
FAQ
Is it officially a buyer’s market now?
Not quite. With 4.3 months of inventory, we are in a "balanced" market. A true buyer's market usually requires 6+ months of inventory. However, it is significantly more buyer-friendly than it was a few months ago.
Why are apartment-style condo prices up so much while townhouses are down?
We are likely seeing a shift in affordability. As detached and semi-detached prices remain high, more buyers are looking toward the apartment condo segment, driving up demand and prices there. Senior downsizers and the aging population also contribute as folks recognize the value of not having a large property to maintain.
Are homes still selling above asking price?
Yes, although it is becoming less common. With average days on market up to 59 days, the "bidding war" environment has cooled significantly, and more sales are happening at or slightly below list price. This also depends on the area - single detached homes in Sherwood Park, for example, are still highly sought after, while in areas like Edgemont and Secord that are seeing large townhouse and apartment-style condo projects going live, buyers have more options. Generally, the newer the neighborhood, the less likely you are to see a bidding war situation. It’s also very reliant on the price point. Luxury homes still move very slowly, and that’s not likely to change.
Let’s Make a Plan
Whether you’re looking to buy your first home or sell a detached property, navigating a shifting market requires the right data and a clear strategy.
Call or text 780-232-2064 or email mike@pabianrealty.ca to discuss your 2026 real estate goals.
Sources
REALTORS® Association of Edmonton — January 2026 Residential Statistics & News Release.
