Edmonton Real Estate Market Update: September 2026

Last updated: October 4, 2026

Edmonton’s fall market came in as the seasonal pattern predicted — but one number underneath it is more interesting than the headline. Sales fell 10.3% year-over-year to 1,959, inventory climbed 16.7% above last September to 8,062, and the sales-to-new-listings ratio dropped to 51% from 63% a year ago.

Meanwhile the average price rose 2.9% year-over-year to $466,080, the median was flat at $435,000, and the MLS® Home Price Index — the only measure that compares like homes to like — came in down 0.3%.

Three measures, three answers. That gap is the real story of September, and it’s the part most coverage skips. All figures come from the REALTORS Association of Edmonton (RAE), covering the Greater Edmonton Area — Edmonton plus St. Albert, Sherwood Park, Leduc, Fort Saskatchewan, Spruce Grove, and Stony Plain.

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The Headlines

The one-line read: sales keep cooling, supply keeps arriving, and the market has moved from seller-favourable to genuinely balanced. That shift is the story — not a crash, and not a boom.

Key takeaways:

• Sales (1,959): down 8.8% month-over-month, down 10.3% year-over-year
• New listings (3,864): up 7.2% month-over-month, up 11.3% year-over-year
• Inventory (8,062): up 16.7% from September 2025
• Average price ($466,080): down 0.8% month-over-month, up 2.9% year-over-year
• Average days on market: 44, up three days from August and five from last September

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What the Prices Actually Say

This is where September diverges from the previous few months, and it’s worth slowing down for.

The average residential price rose 2.9% year-over-year to $466,080. The median was flat at $435,000. The MLS® Home Price Index (HPI) composite benchmark fell to $423,100, down 0.3% year-over-year.

They disagree because they measure different things. The average is total dollar volume divided by number of sales — so when more expensive homes sell, it rises even if every home is worth exactly what it was last year. The median sits in the middle of the sale list and barely feels that mix. The HPI tracks a “typical” home with consistent attributes, neighbourhood by neighbourhood, and is the only one that isolates real price movement from changes in what happened to sell.

So when the average says +2.9% and the HPI says −0.3%, the honest reading is that the mix of homes sold is inflating the headline, and underlying prices are flat to marginally down. The five-year September record on the average makes the same point: $394,510 (2022), $394,029 (2023), $440,642 (2024), $452,888 (2025), $466,080 (2026). A market grinding slowly upward, not one sprinting.

Key takeaways:

• Average +2.9% · median 0.0% · HPI −0.3% — three different answers for one month
• The gap is a mix effect: pricier homes selling skews the simple average
• The HPI is the apples-to-apples measure, and it says flat-to-slightly-down
• Don’t read a rising average as broad appreciation

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Supply and Demand

The balance has genuinely changed. The sales-to-new-listings ratio fell to 51%, down from 63% in September 2025 — and 51% is the weakest September reading since 2022, which also printed 51%.

Months of supply works out to about 4.1 (8,062 inventory ÷ 1,959 sales), up from 3.8 in August. Days on market stretched to 44, five days longer than last September. And the sale-to-list-price ratio slipped to 98% — meaning the average Edmonton seller accepted 2% below asking. Last September it was 99%.

None of that is alarming on its own — fall always cools, and this continues the trend we flagged in the August 2026 update. What isn’t purely seasonal is that inventory is 16.7% higher than a year ago after months of new listings outpacing sales. Supply is arriving faster than it’s being absorbed, and that’s what moves a market from balanced toward buyer-favourable.

The RAE’s Board Chair, Darlene Reid, put the risk plainly: “The rising inventory in our market could soften that growth even further.”

Key takeaways:

• SNLR: 51%, down from 63% a year ago — the weakest September since 2022
• Months of supply: about 4.1, up from 3.8 in August
• Days on market: 44 (+5 year-over-year); sale-to-list ratio: 98% (from 99%)
• Inventory is still accumulating, not drawing down

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Price Breakdown by Property Type

Here’s where a single “Edmonton market” number hides the most. Tap through the metrics to see how the four property types actually compare.

Detached homes held up. They averaged $569,820 (−1.1% month-over-month, +2.9% year-over-year) on 1,221 sales — the only segment where the gain is real rather than a mix effect. The single-family HPI benchmark, $518,900, was essentially unchanged at −0.0%.

Semi-detached homes averaged $412,974, down 2.7% from August and 4.8% below September 2025, on 212 sales. New semi-detached listings rose 25.4% year-over-year — the largest supply increase of any type.

Row/townhomes averaged $289,640, down 2.9% month-over-month and 4.5% year-over-year, on sales that fell 20.1% — the steepest decline in the market. The townhouse HPI benchmark dropped 3.4%, weakest of the four.

Apartment condos averaged $208,672, down 3.1% month-over-month but up 0.6% year-over-year on 280 sales. Condos are the only segment drawing fewer new listings than last year (−5.3%), and the slowest to sell at 50 days.

Key takeaways:

• Detached is holding: $569,820 average, +2.9% year-over-year, HPI flat
• Entry-level segments are not: semi −4.8%, townhouse −4.5% year-over-year
• Townhouse sales fell 20.1% year-over-year — the weakest demand in the market
• Condos take longest to sell (50 days) but are the only segment with fewer new listings

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What It Means for Buyers

This is the best-balanced Edmonton market in over a year, and September added to it rather than reversing it.

Inventory at 8,062 units is 16.7% above last year, days on market stretched to 44, and sale-to-list slipped to 98%. Every one of those shifts hands a little more leverage to the buyer.

That leverage is concentrated at the entry level. Townhomes averaged $289,640 and condos $208,672, both carrying soft demand and rising supply. A ~$10,771 minimum down payment on an average condo, in a market with 4.1 months of supply, is a different position than buyers faced in the spring.

Two things worth doing before you shop. Run your numbers against a real rate — the mortgage calculator shows today's payments, and our down payment guide covers the cash you'll need. Then factor in the carrying costs lenders count, which our property taxes in Edmonton breakdown covers.

Looking at a specific community? The Summerside buyer guide and the Orchards at Ellerslie guide break down real price points.

Key takeaways:

• More inventory (8,062) and slower sales (44 days) mean real negotiating room
• Entry-level segments — townhomes and condos — carry the softest demand
• Sale-to-list at 98% means asking prices are, on average, not being met
• Get pre-approved against today's rates before you fall in love with a listing

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What It Means for Sellers

The market is still working for well-priced homes — it just isn't working for aspirational ones.

Detached homes remain the strongest segment, averaging $569,820 and up 2.9% year-over-year, with the HPI benchmark flat. Priced against recent comparable sales, that's the healthiest part of the market.

Everywhere else, the competition is real. There were 3,864 new listings in September, 11.3% more than last year, and buyers now have 4.1 months of supply to choose from. Sit with the 98% sale-to-list ratio: the average Edmonton seller accepted 2% below asking. Price above your comparables and you're negotiating from a widening gap while the days-on-market clock runs against you.

The playbook hasn't changed from August, but it matters more: price from day one against what has actually sold in the last 60 to 90 days, not spring expectations. Presentation earns the showing; pricing earns the offer. If you're planning a move rather than a sale, the Edmonton Real Estate 2026 outlook frames where the market is heading.

Key takeaways:

• Detached is still the strongest segment; entry-level faces the most competition
• 98% sale-to-list means asking prices are, on average, being trimmed
• 3,864 new listings (+11.3% year-over-year) is what you're competing against
• Price against the last 60–90 days of real comparables, not spring expectations

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Frequently Asked Questions

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Summary

Edmonton's September 2026 data shows a market settling into balance, not one breaking down. Sales fell 10.3% year-over-year to 1,959, inventory ran 16.7% above last September at 8,062, and the sales-to-new-listings ratio dropped to 51% — the weakest September in four years. Prices, measured properly, are flat: the HPI composite fell 0.3% year-over-year and the median was unchanged, even as the average held a 2.9% gain the mix of sales is inflating.

For buyers, that means more choice and more room than any point in the past year, with the softest conditions in townhomes and condos. For sellers, detached homes are still moving at strong prices while everything else has to be priced against what actually sold. The shift has been building since spring — the June 2026 update first flagged inventory moving into elevated territory, and it has only deepened since.

Want to know how these numbers apply to your specific property or search? Book a free consultation and we'll work through it against live Edmonton data.