Quick take: Edmonton's resale market softened in August, sales down, inventory up, prices flat to slightly lower, while the city simultaneously kept 18,544 homes moving through construction, one of the strongest population-adjusted building rates of any major Canadian market. Those two facts are usually reported separately. Looked at together, they point toward more choice and more negotiating room for buyers over the months ahead, whether they're shopping resale or new construction.
This article is part of my Edmonton New Construction Buyer’s Guide.
Free download: my New-Construction Buyer Checklist. Two printable pages, from your first show home visit to your one-year warranty.
Edmonton Real Estate Market Snapshot September 2026
The latest complete statistics available when this article was published cover August 2026, for Greater Edmonton (Edmonton and several surrounding municipalities), alongside CMHC's newest construction data reported September 16, 2026.
Sources: REALTORS® Association of Edmonton, August 2026 statistics; CMHC, Fall 2026 Housing Supply Report and August 2026 construction data; Bank of Canada, September 2, 2026 rate decision.
For current advertised mortgage-rate examples, see MortgagesForLess.ca's Alberta mortgage rates. For Bank of Canada announcements and local context, see Edmonton Home Team's Bank of Canada updates. Actual mortgage rates vary by lender, down payment, mortgage-insurance status, amortization, property and borrower qualifications.
What the Board's Own Numbers Show
Sales: 2,143 residential sales in August, down 15.4% from July and down 9.8% from a year earlier
New listings: 3,769, down 8.1% month over month but still up 3.3% year over year
Inventory: 15.1% higher than August 2025
Average selling price: $469,602, down 1.1% from July but up 1.8% year over year
MLS® HPI composite benchmark price: $426,900, down 0.6% from July and down 0.6% from August 2025
Sales-to-new-listings ratio: approximately 56.9% (2,143 sales ÷ 3,769 new listings)
The REALTORS® Association of Edmonton didn't officially call this a buyer's market. But its own language is worth paying attention to, the Association said there are indicators that "a shift in the wider market is taking place," and warned that ample supply without enough demand could put downward pressure on prices beyond normal seasonal patterns.
That sales-to-new-listings ratio of 56.9% still sits inside the standard "balanced" range on paper. What matters more is the direction: sales falling, inventory building, the benchmark price softening, and the board itself flagging what could happen next if demand doesn't keep pace.
Meanwhile, Edmonton Keeps Building
CMHC's newest data shows Edmonton had 18,544 homes under construction in August 2026, up from 18,289 in July. The pipeline has grown every month since spring:
May: 17,440
June: 17,878
July: 18,289
August: 18,544
The growth rate is slowing, though:
May → June: +2.5%
June → July: +2.3%
July → August: +1.4%
At the same time, approved units waiting to start construction have moved from 5,503 in June to 5,316 in July and 5,262 in August. That doesn't mean Edmonton builders have stopped building, they haven't. It means a very large amount of housing is still moving through the pipeline, while there are early signs worth watching around what comes next.
Edmonton Is Still Building at One of the Strongest Rates Among Major Canadian Markets
A raw number like 18,544 doesn't tell you whether that's actually a lot relative to the size of the city. CMHC's Fall 2026 Housing Supply Report answers that by comparing housing starts per 10,000 residents across major Canadian markets for the first half of 2026:
Calgary: 61
Edmonton: 51
Vancouver: 41
Ottawa: 37
Montréal: 30
Toronto: 19
Among the six markets CMHC compared, only Calgary built more per capita. Edmonton's rate is down about 20% from the unusually high pace set in 2025, but CMHC's own report notes construction here "remains above historical averages", meaning this is a slowdown from a very high level, not from a low one. A significant amount of housing is already committed and will keep moving toward completion regardless of what resale demand does in the short term.
Why Completions Bounce Around So Much
July completions jumped to 1,729 units. In August they dropped 11.4% to 1,532. I wouldn't read too much into either month by itself.
Multi-family construction makes completion numbers naturally lumpy. If a large apartment project finishes, hundreds of units can move into the completed category at essentially the same time, July's 1,729 completions included 908 apartment units, more than half the total, almost certainly reflecting one or two larger buildings wrapping up at once. The next month can then show a substantial decline without anything fundamentally changing in the market. That's why the overall construction pipeline is more informative than whether completions happen to be up or down in any single month.
What This Means If You're Buying
You likely have more room to compare homes, neighbourhoods, builders and specifications than you did a year ago, rather than feeling pressure to jump at the first listing that fits.
New construction and resale increasingly compete for the same buyers, a family looking at a detached home might be comparing a five-year-old resale property with a quick-possession home from a builder.
If you're considering new construction, look at the all-in price, not just the advertised base price. Confirm whether GST is included and whether the builder's price assumes an available rebate. Qualifying first-time buyers may be eligible for up to $50,000 through the [First-Time Home Buyers’ GST Rebate]. Builder incentives, such as appliances, air conditioning, landscaping, upgrades or possession terms, should also be valued based on what they are actually worth to you.
Financing conditions matter too. Buyers should compare current mortgage rates, but amortization can matter just as much. If your down payment is less than 20%, a 30-year insured mortgage may be available if you're a first-time buyer and/or purchasing a new build. See my 2026 guide to 30-year mortgages in Alberta for the current rules and payment trade-offs.
If you want a second set of eyes on a specific listing or builder offer before you commit, call or text Jay Lewis at 780-220-8449 no pressure, just a sounding board.
What This Means If You're Selling
Understanding your competition matters more than it did a year ago, and your competition may not just be another resale home down the street. If you're near an active new community, buyers may be comparing your home against a brand-new property.
That comparison isn't purely about price. A resale home may already have landscaping, fencing, a deck, window coverings, appliances or a finished basement; a new home may offer warranty coverage and modern systems. Buyers weigh the whole package.
With inventory up 15.1% year over year, accurate pricing from the start matters. Overpricing into a market with this much competing supply typically means a longer time on market and eventual price reductions.
If you're weighing when to list or how to price against nearby new construction, reach out to Jay Lewis at 780-220-8449 or jay@jaysells.ca for a current comparison of your specific street.
What This Means If You're Building or Considering New Construction
A growing under-construction count paired with a shrinking not-yet-started pool suggests the next wave of completions will land in a resale market that's already softening, worth factoring into your timing if you have flexibility.
If you want a deeper comparison of the two paths, I've written a full guide to new construction vs. resale homes in Edmonton, covering warranty coverage, GST treatment, contract terms and what to watch for with a builder's sales representative.
Before you register with or visit a builder's show home, contact Jay Lewis at 780-220-8449 if you want your own representation, builder cooperation and registration policies vary, and some require your REALTOR® to be identified at the first visit.
So, Is Edmonton Becoming a Buyer's Market?
The numbers tell us something more useful than the label. Inventory is higher, sales are lower, the benchmark price has softened slightly, and the REALTORS® Association of Edmonton is openly warning that prices could face additional downward pressure if demand doesn't keep pace with supply. That's a market shifting in the buyer's direction.
But Edmonton isn't experiencing a housing-market collapse. The benchmark price is only 0.6% lower than a year ago, while the average selling price remains 1.8% higher. Both things can be true at once: buyers can be gaining leverage without prices falling dramatically.
What I'm Watching Next
The more interesting question isn't whether we can officially call Edmonton a buyer's market today, it's what happens next. Resale inventory is already elevated and demand has softened, while 18,544 homes remain under construction and Edmonton posts one of the strongest population-adjusted building rates among major Canadian markets. If resale inventory stays elevated while that construction pipeline moves toward completion, buyers could gain additional leverage. If demand strengthens enough to absorb the new supply, the picture could shift again. That's why I'm watching the pipeline, not just this month's sales number.
For buyers right now, the important thing is that you have something valuable: more choice. Use it.
Get the New-Construction Buyer Checklist
Trying to decide between new construction and resale in Edmonton or the surrounding area? Contact Jay Lewis for a new-construction buyer checklist and a side-by-side comparison of what your budget can buy in both markets.
Call or text Jay Lewis: 780-220-8449 Email: jay@jaysells.ca Website: jaysells.ca
Get my free New-Construction Buyer Checklist
Thinking about a new build? My free, printable 2-page checklist covers what to check at every stage, from your first show home visit to your one-year warranty.
Frequently Asked Questions
Is Edmonton a Buyer's Market in 2026?
Edmonton is showing more buyer-friendly conditions, but the market is not uniform across every neighbourhood, property type or price range. In August, inventory was 15.1% higher than a year earlier while residential sales were 9.8% lower. The better takeaway is that many buyers have more choice and negotiating room than they did earlier in the year.
How Many Homes Are Under Construction in Edmonton?
CMHC reported 18,544 homes under construction in the Edmonton CMA in August 2026, up from 18,289 in July.
Is Edmonton Still Building a Lot of Homes Compared With Other Canadian Cities?
Yes. Edmonton recorded approximately 51 housing starts per 10,000 residents in the first half of 2026, placing it among the highest construction rates of the major markets compared in the CMHC report.
Why Are So Many Homes Still Under Construction if the Market Is Slowing?
Construction responds to changing conditions with a delay. Homes and multi-family projects that are already underway continue toward completion even when resale demand begins to soften.
Could More New Construction Push Edmonton Home Prices Lower?
More supply can increase buyer choice and competition, but construction alone does not determine prices. Demand, population growth, interest rates, location, property type and the pace at which inventory is absorbed all matter.
Should I Wait to Buy a Home in Edmonton?
There is no reliable way to identify the exact bottom of a housing market in advance. More inventory can create better selection and negotiating opportunities, but the decision should depend on the specific property, your financing, your timeline and how long you expect to own the home.
Why Did Edmonton Home Completions Drop in August?
Monthly completions can vary significantly, particularly when large multi-family projects finish in batches. One month's decline does not necessarily indicate that construction activity has stopped or materially changed direction.
Sources and Important Information
Thinking About Buying in Edmonton?
If you're comparing your options or planning a move in Edmonton, Sherwood Park, Fort Saskatchewan, Devon, Spruce Grove or Stony Plain, I can help you understand how the details fit into the bigger picture. With more than 25 years in new construction, on the trades and sales sides, I bring a builder’s eye perspective to the buying process.
Call or text Jay Lewis at 780-220-8449
Jay Lewis | REALTOR® | RE/MAX Excellence
Want to see more Edmonton real-estate updates from JaySells.ca in Google? Add JaySells.ca as a Preferred Source.
This article provides general information only and is not legal, tax, accounting or mortgage advice. Real-estate market statistics, construction data and mortgage rates can change. Confirm information that applies to your specific transaction with the appropriate qualified professional. The August 2026 completions figure for Edmonton is cited as reported by CMHC's September 16 release.
