Honest answers to the questions we hear most often from local buyers, sellers, and families relocating to Edmonton, Sherwood Park, St. Albert, Leduc, and Beaumont. Updated regularly to reflect current market conditions.

Is Edmonton a buyer's market or a seller's market right now?

Edmonton is currently in a balanced market, meaning neither buyers nor sellers hold a clear advantage. Inventory has grown compared to last year, giving buyers more choice, while well priced homes in good condition are still selling quickly. Conditions vary by property type and area, so the honest answer depends on the specific home and price point you're looking at.

How much does a house cost in Edmonton right now?

Prices vary widely by home type. Detached homes carry the highest average prices, townhouses sit in the middle, and condos remain the most affordable entry point. Edmonton continues to be one of the most affordable major cities in Canada, even with recent price growth. For an accurate number on a specific area or home type, a quick conversation with Mary or David will get you a current range.

Are mortgage rates expected to drop in 2026?

The Bank of Canada has held its policy rate steady through multiple announcements in 2026, and most forecasts expect rates to stay relatively stable for the rest of the year, though global events can shift that quickly. Variable rates are currently the more affordable option compared to fixed rates. Speaking with a mortgage broker before you start house hunting gives you a clear, current number to plan around.

Do I need a home inspection?

Yes. A home inspection typically costs a few hundred dollars but can uncover issues with the roof, furnace, plumbing, or foundation that could cost thousands to fix later. In Edmonton specifically, it's also worth asking whether any renovations, like a finished basement, were done with permits, and asking to see a current Real Property Report with a compliance stamp.

Does Alberta have a land transfer tax?

No. Alberta does not charge a land transfer tax the way Ontario does. Instead, buyers pay a much smaller land titles registration fee at closing. This is one of the cost differences that surprises a lot of buyers moving here from Ontario.

How long will it take to sell my home?

It depends heavily on pricing and presentation. Well priced detached homes in good condition are currently selling quickly, often within a month, while overpriced or poorly presented homes can sit for much longer regardless of the market. A proper comparative market analysis before listing is the best way to set realistic expectations.

What does it cost to sell a home, beyond commission?

Budget for legal fees, any outstanding mortgage penalties, and moving costs on top of commission. Getting a clear breakdown of these numbers before you list helps you understand your actual net proceeds rather than just the sale price.

Should I renovate before listing?

Not always. Cost effective updates like fresh paint, lighting, and decluttering tend to offer a better return than large renovations, which rarely pay back dollar for dollar at resale. A walkthrough with Mary or David before you spend money on upgrades will tell you what's actually worth doing for your specific home.

Is it cheaper to live in Edmonton than in Ontario?

For most families, yes, often significantly so, especially on housing. Alberta also has no provincial sales tax, which adds up over a year of everyday spending. Mary moved from Ontario to Edmonton in 2014 and David made the same move in 2021, so The Real Estate Team can speak to this comparison from firsthand experience, not just market data.

What should I budget for when moving from Ontario to Edmonton?

Beyond the home purchase, plan for moving costs, a home inspection, legal fees, and Alberta's land titles registration fee, which is lower than Ontario's land transfer tax. Many Ontario buyers are pleasantly surprised once they see the full cost comparison side by side.

Can I buy a home in Edmonton before I move, without seeing it in person?

Yes, and many relocating clients do exactly this. The Real Estate Team walks Ontario and BC clients through neighbourhoods, school catchments, and listings over video call, often before they've booked a flight, so they arrive already knowing where to focus their search.

Is it better to buy new construction or resale in Edmonton?

It depends on your priorities. New construction offers warranty coverage and modern layouts but comes with lot premiums and upgrade decisions that can add up quickly. Resale homes often offer more established neighbourhoods and mature landscaping at a lower starting price. Mary's background in new home sales and construction means The Real Estate Team can walk you through builder reputations and what upgrades are actually worth paying for, the way someone who has worked inside that industry would.

What should I ask a builder before signing a new home contract?

Ask about lot premiums, what's included versus considered an upgrade, the estimated possession timeline, and the builder's warranty coverage. These details vary more than most buyers expect, and getting clear answers up front avoids surprises later in the build.

Does it cost anything to work with a buyer's agent?

In most cases, no. Buyer representation is typically paid out of the proceeds of the sale by the seller, so there's usually no direct cost to you as a buyer for having an agent advocate on your behalf throughout the process.

What areas does The Real Estate Team serve?

Mary Bark and David Szusz serve all of Edmonton, Sherwood Park, St. Albert, Leduc, Beaumont, and the surrounding rural areas of Strathcona, Sturgeon, and Parkland County.

Have a question that isn't answered here? Reach Mary Bark and David Szusz of The Real Estate Team at RE/MAX River City.

The Real Estate Team | RE/MAX River City mary@thereteam.ca · david@thereteam.ca · 780-905-6255 · thereteam.ca