By Altus Group | June 13, 2017

Edmonton Flash Report 2017

New multi-family home sales showing signs of renewed life.

Commercial investment & land market

  • Total investment property sales volume for 2016 in the Edmonton Market Area was $2.32 Billion marking a reversal in the downward trend.
  • After declines in 2014 and 2015, the 11% increase in investment property sales volumes in 2016 was welcome news.
  • The increase in residential land sales volume in 2016 was focused in Medium Density and Low Density land.
  • The largest deal recorded in Q1 2017 was for Edgewater Village, a 694 unit high-rise apartment project purchased by Greystone Managed Investments and Timbercreek Asset Management for $191 Million.

Industrial & office markets

  • 1.1 million square feet of new office space added to the Edmonton office market last year.
  • Almost 4 million square feet of new industrial space was completed in the past 8 quarters in the Edmonton Market Area.
  • After modest levels of new supply in the 2012 to mid 2016 period, about 1.1 million square feet of new office space was completed in the Edmonton Market Area in the second half of 2016.

Residential development market

  • New multi-family condominium townhouse and apartment sales in the Edmonton Market Area totalled 1,553 units in 2016, down a modest 5% from 2015.
  • While sales of new apartment units continued to decline in 2016, townhouse sales finished the year up by 9%.
  • At the end of Q1 2017, the approximately 1,900 unsold units in active new condominium apartment projects represented about 22 months of supply.


  • Homebuying intentions are up this year among renters in Edmonton, according to Altus Group’s FIRM Spring 2017 survey.
  • While renters are more optimistic about making home purchases, homebuying intentions among current homeowners remain muted.
  • Given that almost half of new home buyers in Edmonton in recent years purchased using high-ratio mortgages, the tighter mortgage insurance rules introduced in the fall of 2016 have no doubt had a negative impact on the number of new home buyers.
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