Edmonton, Alberta Real Estate & Houses for Sale
Edmonton, AB Real Estate Market & Guide
Edmonton is the capital of Alberta, but with a population of about 960,000, it is the second-largest city in the province. It has enjoyed population growth of about 8 percent in the past 10 years. It is often referred to as the oil capital of Canada, where gas and oil are some of the primary sources of income. It is a lovely city experiencing growth in the technology industry as well, which makes it an attractive option for many young people looking for career opportunities in this high demand industry.
Edmonton is also known as "The Big E", but has gained a new nickname, Canada's "Festival City." As it continues to attract more world-class events throughout the year, Edmonton is drawing more visitors to its charming skyline.
The city is of course best known for its prominence in the oil industry, but there is more to the city than oil. It is home to the largest mall in North America and continues to be a shopping mecca for many in the province. As well, the city is steeped in history offering some prominent architecture, which the city deems its "Municipal Historic Resources." These buildings are protected from being torn down or overly renovated helping maintain the old-world charm for the historic parts of the city.
Adding to the historic feel of the city, you will also find lovely gardens adding more green space to enjoy.
The Edmonton Lifestyle
As its new nickname implies, Edmonton is attracting more and more festivals. This means there is always something happening in the city. However, you don’t need a festival to find something to do in Edmonton. It offers an exciting nightlife with a variety of clubs, movie theatres, restaurants and bars to choose from. You will never have a shortage of dining experiences to tempt your taste buds and you will also have all the conveniences close by with an impressive selection of shopping malls and larger-chain retailers to meet your needs.
Edmonton is also no stranger to the arts. From concerts to sports and art galleries to cultural events, you will have countless options to keep you entertained throughout the year.
The Commonwealth Walkway is a 10-kilometre path that travels through the North Saskatchewan River Valley. You can easily reach a number of attractions including the Indigenous Art Park, John Walter Museum and the Alberta Legislature by foot.
Sports enthusiasts are always on their toes with plenty of hockey, football, soccer, baseball or basketball games to attend. Regardless of the season, there is always a sporting event to get you cheering.
The Edmonton Economy
It is no secret Edmonton is viewed as the "oil capital" of Canada by many economic experts. With an endless pool of jobs and new projects popping up in the city, the gas and oil industries definitely keep the town’s economy pumped. In fact, 60 percent of the economy’s income can be attributed to the oil and gas industry alone. However, Edmonton’s tech jobs grew by 26 percent since 2014 with over 5,800 positions becoming available in the past five years. This places it 10th for Canadian cities that attract tech companies and talent. The technology education available in Edmonton has helped improve the talent pool with over 1,000 tech-based degrees awarded in the city each year. That places Edmonton seventh in Canada for tech graduates.
As Edmonton continues to thrive, the city offers many inviting neighbourhoods each with their own unique charm. The downtown core is the perfect choice for young singles that want to work and live in the city. Not only are there plenty of high-end condo apartments to choose from, but also an assortment of homes found on the outskirts of town to suit just about any budget.
Another highly desirable downtown neighbourhood is Oliver where you will find heritage buildings that maintain the history of the area. Although the buildings in Oliver feature some of the most stunning historic architecture to be found in the city, there are also a growing number of modern buildings adding to the area’s draw.
Many people prefer finding homes on the banks of the Saskatchewan River where a more peaceful suburban lifestyle awaits. Strathearn is surrounded by nature, as well as lovely homes, and recreational destinations for a happy balance of activity and relaxation Hazeldean is another river area that is popular, especially with families drawn to the quiet streets and mature trees. It is close to some of the city’s best schools. Crestwood also overlooks the river and offers a wide selection of detached homes as well as hiking trails and bike paths through the lovely MacKinnon Ravine.
Glenora is growing in popularity thanks to its great location, an assortment of homes and trendy shops. A true sense of community can be found in this area, making it an excellent choice for those who want a small-town feel, without the long commute. If you’re looking for mature homes built in the 1910s and 1920s, the peace and quiet of Westmount await. Its central location makes it a highly desirable area close to shops and homes on very serene neighbourhood streets.
New houses are popping up throughout the Bonnie Doon neighbourhood that also offers a central location. For the hipster seeking a trendier area, Ritchie is going through a gentrification phase making it perfect for young singles looking to get in while the area is still developing. These are just a few examples of the charming, homey neighbourhoods Edmonton has to offer.
Edmonton offers excellent elementary and high schools throughout the city’s districts. It has some of the highest-scoring schools in the province setting very high educational standards. Older students will find 10 post-secondary institutions, offering a broad range of programs for both graduate and post-graduate students.
Getting Around Edmonton
You can get into and around the city using the dependable bus and light rail transit (LRT) services. The LRT has 15 stops throughout Edmonton, but many choose to use the Downtown Bike Network to travel in the downtown area when weather permits.
Edmonton Real Estate
In the Edmonton real estate market, benchmark home prices dropped to their lowest in six years, reaching $316,200. This represents an 8.29 percent drop over the past five-year period. The average home prices for a detached single-family home in the Edmonton census metropolitan area dropped to $420,939. There was also a drop in year over year new home sales listings from 1,480 in October 2018 to 1,397 in October 2019 in the Edmonton housing market. Although this sounds discouraging for those wishing to sell their homes, it offers a great opportunity for people looking to buy in a city where the economy is doing well, and jobs are available.
If you would like more information on buying a home in Edmonton, contact our real estate agents today.