A new real estate report found that Edmonton and Calgary outpaced the rest of Canada with the biggest jumps in housing sales over the last four years.
The newest report from real estate platform Zoocasa found that housing sales in both of Alberta’s major cities exploded by 146% between 2020 and 2024.
Edmonton’s MLS home sales reached 13,518 in 2024, compared to 5,498 sales in 2020.
Zoocasa
While the numbers far outpace most cities in Canada, they make sense when considering the province’s population surge over the past few years.
The Alberta population increased by 4.4% when 202,234 people flocked to the province in a single year between January 2023 and 2024.
Zoocasa says the significant increase is the highest the province has seen since 1981 and “is a positive indicator of the region’s future growth potential.”
The report also cites Alberta Government statistics tracking interprovincial migration, which found that Alberta was the only province in Canada with significant net gains from people migrating from different regions and territories, with 12,482 people in the first quarter of 2024.
The government’s “Alberta is Calling” campaign also took advantage of the province’s affordable housing market compared to other major Canadian cities. According to many former Vancouverites, the comparatively low cost of living in Alberta was a major draw.
As of May 2024, the non-seasonally adjusted residential home prices in Edmonton are $392,700, while in Calgary, they are $587,100.