Where to Buy Real Estate in Canada 2023: Edmonton
Home prices in Alberta’s second-largest grew slightly in early 2023. It remains a popular destination for Canadians and newcomers in search of affordability.
Edmonton—nicknamed the “Gateway to the North” thanks to how connected it is with the rest of Canada via planes, trains and roadways—is the capital of Alberta and the province’s northernmost major city. It has a population of just over 1.1 million people.
Best places to buy real estate in Edmonton
In the table below, you’ll find the top neighbourhoods for real estate purchases in Edmonton. To view all the data, slide the columns right or left using your fingers or mouse. You can download the data to your device in Excel, CSV and PDF formats.
| wdt_ID | Rank | Neighbourhood | City | Benchmark price 2022 | 1-year growth | 3-year | 5-year | Value | Economics | Accessibility | Children |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | 1 | Terwillegar South | Edmonton | $339,368 | 7.4% | -4.7% | -5.3% | 4.0 | 5.0 | 2.2 | 51% |
| 2 | 2 | Terwillegar Towne | Edmonton | $511,503 | 12.6% | 15.2% | 8.4% | 3.6 | 5.0 | 2.2 | 51% |
| 3 | 3 | The Hamptons | Edmonton | $494,562 | 15.4% | 25.1% | 22.2% | 3.9 | 4.7 | 1.8 | 52% |
| 4 | 4 | Sherwood Park | Edmonton | $381,057 | 8.5% | 19.7% | -2.4% | 4.1 | 4.5 | 0.5 | 47% |
| 5 | 5 | Haddow | Edmonton | $496,675 | 7.6% | 11.8% | 2.3% | 3.5 | 5.0 | 2.2 | 51% |
| 6 | 6 | Secord | Edmonton | $95,666 | 5.9% | -19.8% | -55.1% | 4.6 | 3.9 | 0.6 | 37% |
| 7 | 7 | Jamieson Place | Edmonton | $390,506 | 5.2% | 1.9% | -2.1% | 3.8 | 4.7 | 1.8 | 52% |
| 8 | 8 | Macewan | Edmonton | $341,563 | 7.2% | 14.5% | 6.1% | 4.2 | 4.2 | 2.0 | 45% |
| 9 | 9 | Hodgson | Edmonton | $529,111 | 11.9% | 7.3% | 13.6% | 3.5 | 5.0 | 2.2 | 51% |
| 10 | 10 | Mills Haven | Edmonton | $411,320 | 9.2% | 15.9% | 9.4% | 4.0 | 4.5 | 0.5 | 47% |
| 11 | 11 | Broadview Park | Edmonton | $287,184 | -2.1% | -3.3% | -7.1% | 4.1 | 4.4 | 1.3 | 45% |
| 12 | 12 | Sherwood Heights | Edmonton | $399,340 | 6.8% | 12.6% | 7.8% | 3.9 | 4.5 | 0.5 | 47% |
| 13 | 13 | Summerwood | Edmonton | $336,353 | 6.4% | 2.4% | -8.1% | 4.0 | 4.4 | 1.3 | 45% |
| 14 | 14 | Brentwood | Edmonton | $392,100 | 6.4% | 12.1% | -3.1% | 3.9 | 4.5 | 0.5 | 47% |
| 15 | 15 | Falconer Heights | Edmonton | $426,935 | -12.1% | 1.1% | -4.4% | 3.4 | 5.0 | 2.2 | 51% |
| 16 | 16 | Dechene | Edmonton | $494,724 | 14.0% | 15.1% | 3.5% | 3.7 | 4.7 | 1.8 | 52% |
| 17 | 17 | Lakeland Village | Edmonton | $437,613 | 15.7% | 15.5% | 8.7% | 4.0 | 4.4 | 1.3 | 45% |
| 18 | 18 | Maplegrove | Edmonton | $411,826 | 2.0% | 17.2% | 10.6% | 3.9 | 4.5 | 0.5 | 47% |
| 19 | 19 | Broadmoor Estates | Edmonton | $432,000 | 13.5% | 1.4% | 16.9% | 3.9 | 4.5 | 0.5 | 47% |
| 20 | 20 | Ellerslie | Edmonton | $336,653 | 16.2% | 4.7% | -1.1% | 4.2 | 4.1 | 0.6 | 53% |
| 21 | 21 | Leger | Edmonton | $480,183 | -1.1% | 0.6% | -6.4% | 3.3 | 5.0 | 2.2 | 51% |
| 22 | 22 | Lakeland Ridge | Edmonton | $379,920 | 0.4% | 4.3% | 9.6% | 3.9 | 4.4 | 1.3 | 45% |
| 23 | 23 | Eaux Claires | Edmonton | $301,437 | 15.9% | 6.3% | 0.1% | 4.4 | 3.8 | 2.2 | 54% |
| 24 | 24 | Carter Crest | Edmonton | $536,850 | 7.5% | 3.6% | -5.7% | 3.2 | 5.0 | 2.2 | 51% |
| 25 | 25 | Callaghan | Edmonton | $360,784 | 6.2% | -1.7% | -2.5% | 3.9 | 4.2 | 2.0 | 45% |
| 26 | 26 | Charleton Heights | Edmonton | $383,377 | -1.0% | 2.8% | -0.7% | 3.8 | 4.4 | 1.3 | 45% |
| 27 | 27 | Glen Allan | Edmonton | $459,442 | 2.6% | 12.6% | 15.0% | 3.7 | 4.5 | 0.5 | 47% |
| 28 | 28 | Blackmud Creek | Edmonton | $502,069 | 17.0% | 27.3% | 18.0% | 3.9 | 4.2 | 2.0 | 45% |
| 29 | 29 | The Orchards at Ellerslie | Edmonton | $432,917 | 15.3% | 18.5% | 13.8% | 4.0 | 4.1 | 0.6 | 53% |
| 30 | 30 | Rutherford | Edmonton | $471,073 | 13.8% | 13.4% | 24.3% | 3.9 | 4.2 | 2.0 | 45% |
| 31 | 31 | Davidson Creek | Edmonton | $436,800 | 7.5% | 8.7% | 0.5% | 3.7 | 4.4 | 1.3 | 45% |
| 32 | 32 | The Palisades | Edmonton | $349,569 | 13.1% | 15.3% | 1.4% | 4.2 | 3.8 | 3.0 | 53% |
| 33 | 33 | Nottingham | Edmonton | $608,699 | 29.5% | 30.8% | 7.1% | 3.6 | 4.5 | 0.5 | 47% |
| 34 | 34 | Maplewood | Edmonton | $449,504 | 2.5% | 5.2% | -2.3% | 3.5 | 4.5 | 0.5 | 47% |
| 35 | 35 | Anthony Henday South West | Edmonton | $504,614 | 10.7% | -8.2% | -1.6% | 3.3 | 4.7 | 1.8 | 52% |
| 36 | 36 | Gariepy | Edmonton | $474,238 | -5.9% | 0.8% | 6.4% | 3.3 | 4.7 | 1.8 | 52% |
| 37 | 37 | Clarkdale Meadows | Edmonton | $470,489 | 5.7% | 10.5% | 8.1% | 3.6 | 4.4 | 1.3 | 45% |
| 38 | 38 | Bulyea Heights | Edmonton | $598,959 | 6.9% | -0.4% | 4.4% | 3.0 | 5.0 | 2.2 | 51% |
| 39 | 39 | Pembina | Edmonton | $327,877 | 5.2% | 6.2% | -0.7% | 4.1 | 3.8 | 3.0 | 53% |
| 40 | 40 | Foxhaven | Edmonton | $511,043 | 5.9% | 10.0% | 12.0% | 3.5 | 4.5 | 0.5 | 47% |
| 41 | 41 | Rural South East | Edmonton | $492,681 | 15.5% | 21.7% | 18.4% | 3.8 | 4.1 | 0.6 | 53% |
| 42 | 42 | Evergreen | Edmonton | $64,951 | -7.7% | 7.6% | -10.1% | 5.0 | 2.9 | 1.0 | 48% |
| 43 | 43 | Ambleside | Edmonton | $453,123 | 8.1% | 8.0% | -0.7% | 3.6 | 4.2 | 2.0 | 45% |
| 44 | 44 | Cumberland | Edmonton | $372,487 | 9.1% | 9.9% | 5.8% | 4.1 | 3.8 | 3.0 | 53% |
| 45 | 45 | Mactaggart Area | Edmonton | $665,527 | 12.3% | 5.1% | 8.8% | 2.8 | 5.0 | 2.2 | 51% |
| 46 | 45 | Klarvatten | Edmonton | $391,392 | 12.4% | 13.4% | -3.3% | 4.0 | 3.8 | 2.2 | 54% |
| 47 | 45 | Wye Road Gardens | Edmonton | $391,126 | 1.2% | -23.3% | -24.9% | 3.4 | 4.5 | 0.5 | 47% |
| 48 | 45 | Charlesworth | Edmonton | $395,572 | 1.2% | 5.7% | -3.4% | 3.7 | 4.1 | 0.6 | 53% |
| 49 | 45 | Westboro | Edmonton | $400,455 | 2.3% | -12.8% | -38.8% | 3.4 | 4.5 | 0.5 | 47% |
| 50 | 45 | Lago Lindo | Edmonton | $355,262 | 6.9% | -0.3% | 0.2% | 4.0 | 3.8 | 2.2 | 54% |
Source: Zoocasa
How to read the table:
- Benchmark price 2022: The composite benchmark price as of Dec. 31, 2022. It represents all property types, including attached and detached homes, townhouses/row units and apartment units.
- 1-year, 3-year and 5-year growth: The percentage increase or decrease in the composite benchmark price (all property types) over each time frame.
- Value, economics and accessibility: These neighbourhood characteristics are each scored on a scale of 0 to 5, with 5 representing the most value for your money, high levels of income and education, and ease of travel by foot, bike and public transit.
- Children: The neighbourhood’s percentage of households with kids.
- Read the detailed methodology behind our rankings.
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What’s happened in the Edmonton real estate market?
Edmonton’s real estate market was hot through the first half of 2022, managing to withstand the impact of rising interest rates for longer than many other major markets across Canada. The average home price in Edmonton eventually peaked at $417,465 in May 2022, and it maintained its strength right through the summer.
“Market conditions in Edmonton were strong from January right up until July. Prices appreciated and demand was high until it finally began tapering off mid-summer,” explains eXp Realty agent Drew Carlson, of Carlson Real Estate Group. (Zoocasa, the author of this study, is wholly owned by eXp World Holdings.) “Most properties received multiple offers, sometimes even 10 to 20 offers, and were selling over asking, which isn’t typical for the Edmonton market.”
Since Edmonton is a comparatively affordable market, it quickly became a hotspot for out-of-province buyers during the pandemic and into 2022. Townhouses and duplexes were in high demand as Edmonton’s average price rose and detached homes became unaffordable for some buyers.
“The $350,000-to-$450,000 range is the [sweetspot] for most buyers [in Edmonton],” says Carlson. “However, last year, many prospective buyers with this budget were priced out of the detached market and shifted their interest to townhouses and duplexes.”
What’s next for real estate in Edmonton?
Prices in Edmonton have increased ever so slightly from last year, with the average price reaching $369,286 in February 2023, up 2.2% from December. Growth is expected to continue because Edmonton is a popular destination for both Canadians and newcomers in search of affordable properties.
“Conditions became more stable towards the end of last year, and market interest is picking up again,” says Carlson. “We’re seeing multiple offers again, and as the population in Edmonton continues to grow, I expect demand will grow with it.”
Supply is tight across many Canadian real estate markets right now. Edmonton is no exception, with just 5,686 homes available on the market at the end of February. While that number is up from the historic lows of last year, inventory is still limited, and buyers will face a lot of competition.
“Although we’re currently in a ‘balanced market,’ buyers do have to react quickly, as properties are trading hands fast because inventory is so limited,” says Carlson.
Top neighbourhoods in other regions
Edmonton’s top three neighbourhoods
1. Terwillegar South
Terwillegar South is a neighbourhood in southwest Edmonton, located within Terwillegar Heights, which is bounded by Terwillegar Drive and the neighbourhood of Terwillegar Towne. Terwillegar South’s average home price at the end of 2022 was $339,368, 5% lower than it was five years earlier, but up 7% from one year earlier. The affordable price contributes to the neighbourhood’s high value score of 4, and Terwillegar South scores an impressive 5 on economics. However, with a score of 2.2, it has room to improve on accessibility. Just over half the households (51%) here have children.
View Terwillegar South real estate listings on Zoocasa.
2. Terwillegar Towne
Terwillegar Towne is a neighbourhood in southwest Edmonton, bordering Terwillegar South. It is a newer neighbourhood, with all residential construction occurring after 1995. Homes in Terwillegar Towne finished 2022 at an average price of $511,503—13% higher than one year earlier and 8% higher than five years earlier. The neighbourhood has a value score of 3.6 and a strong economics score of 5. Just over half of the households (51%) in Terwillegar Towne have children. Residents must generally rely on their own cars for transportation, so the neighbourhood’s accessibility score is a low 2.2.
View Terwillegar Towne real estate listings on Zoocasa.
3. The Hamptons
The Hamptons is a neighbourhood in west Edmonton. It’s close to Anthony Henday Drive, a freeway that provides access to the south of the city, including Edmonton International Airport. The average price of a home in the Hamptons was $494,562 at the end of 2022. That means the average price was 15% higher than one year earlier and 22% higher than five years earlier. The neighbourhood has a strong value score of 3.9 and an even better economics score of 4.7. However, it ranks poorly for accessibility, with a score of 1.8.
View The Hamptons real estate listings on Zoocasa.
Read more about buying a home:
- Mortgage rules when buying a second property in Canada
- Mortgage refinance calculator
- Video: How the Bank of Canada’s interest rate affects you
- The best 5-year variable mortgage rates in Canada
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High accessibility scores and tons of new infill coming on line in these older neighbourhoods