If buying a home is on the vision board for the new year, you’ll want to buckle up — because it’ll cost you in Canada.
While Calgary is often seen as a cheaper living alternative to other major Canadian cities, homes still come with a hefty price tag. That also goes for the fellow Alberta city of Edmonton, which is a hot spot for those looking for more affordable real estate.
Royal LePage released a report breaking down Canada’s real estate market predictions for 2025, forecasting what home prices will look like this year in cities around the country.
While a « return to stability » is on the horizon « home prices are expected to rise next year in all major markets across the country, » the report said.
Alberta still has a leg up on other Canadian spots, especially compared to the likes of the GTA and Montreal area, but prices are still increasing.
Here’s what you could be paying for a house in Calgary and Edmonton in 2025.
Calgary
In the fourth quarter of 2025 home prices in Calgary are set to increase a moderate amount, with a 4.0 percent increase predicted year over year. This will bring the aggregate price of a home up to $728,104.
The median price for a single-family detached property is set to go to $836,000 in the same period, and the median price of a condominium is expected to increase to $278,154.
While the real estate market for the city was busy in 2024, the report said that it seems to be stabilizing.
« We anticipate that 2025 will bring another robust market. However, it will be more balanced in certain housing styles and price points,” said Corinne Lyall, broker and owner, Royal LePage Benchmark.
Edmonton
Alberta’s second-biggest city is a popular option for those looking for cheaper housing, but things are set to get pricier.
« In Edmonton, the aggregate price of a home in the fourth quarter of 2025 is forecast to increase 9.0 percent year over year to $494,860, » the report said.
The median price of a single-family detached property is set to increase a massive 12.0 percent to $554,288, and for a condominium, it’s expected to increase 8.0 percent to $214,488.
Tom Shearer, broker and owner, Royal LePage Noralta Real Estate said that « Edmonton is expecting much more aggressive price appreciation in 2025 » compared to other Canadian cities.
The report pointed to the continuously growing local population and « spillover buyer and renter demand from Calgary » driving demand for real estate. Edmonton offers cheaper real estate and cost of living, pushing many in Alberta to live there.
“Price appreciation will be driven by a shortage of inventory in 2025. Most homes hitting the shelves are being quickly scooped up, leaving supply significantly diminished. It is unlikely that inventory can be replenished to a healthy level by spring, when the next big wave of demand is expected, » Shearer added.
Source: Narcity – Read More
