Every year, Edmonton’s real estate market slows down when the snow arrives. It’s a predictable pattern, and it can work in your favour if you’re thinking about buying.
Watch my video or keep reading to learn what to expect and how to prepare for Edmonton’s winter housing market as a homeowner or homebuyer.
How the Edmonton Housing Market Changes Through the Year
The Edmonton market follows a seasonal rhythm that shows up year after year.
- Spring: This is when most people buy, so activity peaks.
- Summer: The real estate market slows down.
- September and October: The market picks up again.
- November to February: The housing market quiets down until the spring market starts building again.
This has little to do with the headlines. Families don’t want to move in a snowstorm, and many people wait for spring.
What Winter Means for Edmonton Home Prices
When fewer buyers are out shopping, prices tend to come down a little. That includes popular areas, even hot places like Sherwood Park.
Right now, list prices are dropping by about $10,000 to $15,000. The list price is the price a seller asks when they put the home on the market. It’s a modest adjustment, but it’s the kind of savings that doesn’t often show up in Edmonton’s busy spring market.
Why Should I Buy a Home During the Winter in Edmonton
If you’re ready to buy, a slower market has some practical advantages:
- Fewer buyers means less competition for the homes that are listed
- Sellers who are still listing in winter are often serious about selling, which can make them more open to negotiating
- You may have more time to view homes and make decisions without feeling rushed
Winter isn’t the right time to buy a home for everyone. Fewer homes may come up for sale, and your own timeline matters more than the season. But if you’re planning to buy anyway, there’s no reason to assume you have to wait for spring.
Get Pre-Approved Before You Start Looking for a Home
A mortgage pre-approval is a lender’s review of your income, debts and down payment that tells you how much you can likely borrow. It gives you a clear budget before you start looking at homes.
It also typically comes with a rate hold, which protects your interest rate for a set period while you shop. With rates in the news lately, that kind of certainty is important.
Getting pre-approved first means:
- You know your budget before you fall in love with a home
- You’re ready to act quickly when the right one comes along, even in a slower market
- You avoid surprises that can slow down a purchase later
If you’re thinking about buying this winter, the steps are straightforward:
- Get pre-approved so you know your numbers
- Start watching listings in the areas you like
- Pay attention to price drops on homes you’re interested in
- Talk through your plan with a broker before you make an offer
If you're looking to buy a home or renew your mortgage, contact me to review your options.
Connect with me
- Phone: 780-721-4879
- Facebook: Jason Scott Mortgage Broker
- LinkedIn: jasongscott
If you’re looking to get pre-approved for a mortgage to buy a property in Edmonton, fill out my online application. I’m here to help you every step of the way.
About Jason Scott, Edmonton Mortgage Broker
Looking for a personalized mortgage solution? As an Edmonton Mortgage Associate, I’ll be your trusted partner who will help you get the right mortgage for your family home or Investment property. I’m Jason Scott, and I’ll be your Mortgage Broker in Edmonton.