Edmonton Downtown Condos for Sale

Edmonton Downtown Condos for Sale


View of Downtown Edmonton from south approaching Walterdale Bridge.

Over the past few years, the real estate market for downtown Edmonton condos has undergone significant changes. With the closure of the municipal airport in 2013, height restrictions were lifted, leading to the development of taller buildings in the downtown core. This has resulted in a transformation of the Edmonton skyline, with the JW Marriott Edmonton Ice District & Residences tower and the Stantec Tower, both located in the Ice District, leading the way. These towers have ushered in a new era of residential high-rise construction in Edmonton, with the Stantec Tower currently holding the title of the tallest building in Canada outside of Toronto. If you're looking for a luxurious and modern living space in the heart of the city, a downtown Edmonton condo may be just what you're looking for.

Edmonton Downtown Boundaries


Edmonton's Downtown is also known as the Central Core(not to be confused with the Downtown Neighbourhood). The Edmonton Central Core as defined in the Municipal Development Plan Bylaw 15100 consists of the Downtown neighbourhood along with the neighbourhoods that have a strong inter-relationship with the Downtown neighbourhood. These are Boyle Street, McCauley, Central McDougall, Queen Mary Park, Oliver, University of Alberta, Garneau, Strathcona, Cloverdale, Riverdale and Rossdale. The Edmonton Downtown Boundaries map above shows the neighbourhood boundaries in blue. The University of Alberta is not a residential neighbourhood so it is excluded here.

Edmonton Downtown Condos for Sale by Neighbourhood


Hover over the map above or the table below and click on the desired neighbourhood to see the related Edmonton Downtown Condos for Sale. After the search results open up, they can be refined using the "More Filters" button.

Edmonton Downtown Condos for Sale by Price Range


Click the appropriate link below to see Edmonton Downtown Condos for Sale grouped by price range. After the search results open up, they can be refined using the "More Filters" button.

Edmonton Downtown Condos for Sale(All)

All Downtown Condos

Edmonton Downtown Condo Lifestyle


Patrons at a busy downtown restaurant have their meal seated inside while the server hurries by to address the patio customers

The benefit of buying a home in the Edmonton downtown condo real estate market is that it provides an amazing lifestyle. The Downtown(Central Core) contains the top 5 walkable neighbourhoods in the city. What does this mean? It means you can park your car and explore your neighbourhood on foot. An abundance of amenities is at your doorstep as well as access to countless businesses. Stroll down Jasper Avenue. Enjoy the sights and smells at the Edmonton Downtown Farmers Market. Burn off some calories at the YMCA. Grab a coffee at your local coffee shop. Pick up a bite to eat from the corner restaurant. Spend a Sunday afternoon at Hawrelak Park. Catch an Oilers game at Rogers Place. The list is endless.

Edmonton Downtown Neighbourhood Profiles and Statistics


When looking for a condo, the choice of the neighbourhood is one of the most important decisions. The neighbourhood profile and statistics provide the data to make an informed decision. Click on the desired neighbourhood below to see the associated profile and statistics.

Edmonton Downtown Condo Market Trend

Knowledge of the market can help in choosing the right time to buy.

Below is a summary of Edmdonton Downtown Condo recent real estate sales activity. The four graphs include the "Time to Sell", "Odds of Selling", "Buying Pattern" and "Sold Price vs Finished Square Feet Scattergram".

Edmonton Downtown Condos - 2024-05-09

Time to Sell

Time to Sell Graph.

The "Time to Sell" graph showcases properties sold over the previous 12 months with their days on the market and sold prices.

Insights:

  • Price and Time Relationship: The average days on market (DOM) of 63 days alongside an average sold price suggests a relatively balanced market dynamic in this segment. Properties that are priced close to the average might be correctly aligned with market expectations, leading to a moderate selling time. A significantly higher or lower DOM could indicate mispricings or unique property features that either accelerate or decelerate sale times.
  • Market Readiness and Pricing Strategy: The average DOM provides a benchmark for sellers in terms of how long they might expect their property to be on the market before a sale is finalized. This insight can help sellers adjust their pricing strategies or improve property features to make their listings more competitive. For instance, properties lingering on the market longer than the average might need to reconsider their price or how they are marketed.
  • Investor Interest and Market Health: An average sold price of $222,538, coupled with the days on market, offers an indication of the health and accessibility of the market. This price point might be attractive to a broad range of buyers, including first-time homebuyers and investors, suggesting a steady demand. The average DOM provides insight into market liquidity, showing how quickly properties are moving, which can be crucial for investors looking for opportunities or homeowners considering selling.

Odds of Selling

Odds of Selling Graph.

The "Odds of Selling" graph displays the number of listings across four categories for the previous 12-month period. The graph includes the number of properties in each category and shows the calculated Odds of Selling, Monthly Selling Rate, and Months of Inventory.

Insights:

  • Market Saturation and Competition: The odds of selling at approximately 25% suggest that only about one in four listed properties are sold within the observed period, pointing to a competitive market with high inventory. The high number of active listings (1,623) relative to sold (987) indicates that buyers may have many options to choose from, which can pressure sellers to be more competitive in pricing and property features.
  • Slow Market Movement: With 19.73 months of inventory, this indicates a slow-moving market. This metric suggests that at the current selling rate, it would take nearly 20 months to sell all active listings if no new listings were added. High inventory levels can lead to downward pressure on property prices as sellers compete to attract buyers. This is crucial for sellers to consider when timing their entry into the market or setting expectations for how quickly they can expect to sell their property.
  • Pending Sales Opportunity: The properties pending (68) is relatively low compared to active (1623) and not sold (1548). This may indicate the potential for more sales through negotiation.

Buying Pattern

Buying Pattern Graph.

The "Buying Pattern" graph, showcase the number of homes sold in each of the previous 12 months. The six months with the highest sales are highlighted in red, with the number of homes sold displayed at the top of each bar.

Insights:

  • Seasonal Trends and Market Activity: The distribution of the highest sales months suggests a strong seasonal trend in the real estate market. The peak in sales during the spring and summer months (April, June, July, and August) aligns with common market behavior where many buyers aim to purchase homes during warmer months to facilitate moving and settling before the new school year. Conversely, the relative strength in February and March could indicate a beginning surge as buyers start to enter the market, possibly to get ahead of the competitive spring and summer buying season.
  • April as a Prime Selling Month: The exceptionally high number of sales in April (136) could indicate multiple underlying factors such as favorable economic conditions, attractive listing prices, or a buildup of buyer demand from the slower winter months. This spike suggests that April may be an ideal month for sellers to list their properties, taking advantage of the increased buyer activity.
  • Strategic Planning for Buyers and Sellers: The data highlights strategic months for both buyers and sellers. Sellers might benefit from listing their properties in late winter to early spring to capture the increasing buyer interest peaking in April. On the other hand, buyers might face more competition and potentially higher prices during these peak months. Planning purchases during slightly off-peak times, like February or August, could benefit buyers looking for slightly less competitive market conditions.

Sold Price vs Finished Square Feet Scattergram

Pricing Scattergram Graph.

The "Sold Price vs Finished Square Feet Scattergram" graph highlights properties sold over the previous 3-month period. A trend line in red indicates the fair market value. To estimate a homes value, draw a vertical line up from the square footage to where it intersects the trend line.

Insights:

  • Consistent Pricing in Common Size Range: The tight cluster of properties within the 500 to 1200 square feet range around the trend line suggests a consistent market pricing for properties of these sizes. This is typically the range for smaller to medium-sized homes, which may cater to a larger demographic, including first-time homebuyers, small families, or downsizers. The consistent pricing within this range may reflect a well-understood value in the market, where buyers and sellers have mutual expectations about property worth based on size.
  • Variability in Larger Homes: The looser clustering of properties larger than 1200 square feet suggests greater variability in the prices of larger homes. This could be due to a number of factors including custom features, larger lot sizes, luxury amenities, or location benefits that contribute to price differentials. The variability indicates that larger homes are less standardized in value, and their pricing can be significantly influenced by unique characteristics and buyer preferences.
  • Market Depth and Buyer Segmentation: The graph’s trend with a positive slope indicates that larger homes generally fetch higher prices, which aligns with market expectations that more square footage commands a higher price. However, the variability in clustering for larger homes versus the tighter clustering for smaller homes also suggests different buyer segments in the market. Smaller homes attract a segment with more predictable pricing behavior, likely due to budget constraints and specific needs, whereas the market for larger homes may involve buyers with a broader range of priorities and financial capabilities, leading to more negotiated and varied pricing.

Edmonton Downtown Condo Real Estate Investors


The market indicators all point to now as a great time to purchase a condo in downtown Edmonton. Prices are low, inventory is high and the economy has momentum.

These low prices make the Edmonton downtown condo real estate market stand out as being quite affordable versus other Canadian cities. See why Tenants are flocking to Edmonton, and Investors Are Following.

Edmonton Downtown Condo Realtor


When choosing your realtor, it is important to find someone who understands your wants and needs. Your realtor should be in the business of asking questions.

Do you want to walk to work? Will you need to be located close to transit? What amenities are you looking for in a building? Do you need parks and green space nearby? Do you enjoy shopping/eating out and prefer to be located close to a High Street?

Someone with knowledge of the market is key. I have 20 years of experience as a residential investor in the Edmonton downtown condo market.

If you are thinking of selling or buying a condo in downtown Edmonton, call me.

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