Edmonton Home Sellers are Saving Thousands (even during COVID-19!)
July 28, 2020
Edmonton, Alberta has a lot to offer its residents and visitors, like North America’s largest mall, Canada's largest living history museum, and a year-round slate of festivals that inspired the city’s nickname, “Canada's Festival City”. It’s a wonderful place to live, work and play in—and a great place to save thousands in commission when selling your home!
Edmonton is the fifth largest city in Canada and the capital city of Alberta. Edmonton is the northernmost North American city with a population over one million and experiences some of Canada’s coldest winters, but Edmonton is actually one of Canada’s sunniest cities. During the summertime, Edmonton can see up to 17 hours of sun in a one day1! And despite the cold winters, they’re not so bad when the Aurora Borealis (Northern Lights) can be seen on a regular basis.
As for the real estate market, in June 20202 Edmonton saw a 13.7% increase in year-over-year sales and overall inventory decreased nearly 16.6% year-over-year, which means Edmonton is slowly headed towards a more balanced market. And even though we are in a pandemic, we are still seeing our Purplebricks home sellers in Edmonton successfully sell their home while saving thousands in commission!
And as for homebuyers? Although Edmonton is moving towards a more balanced market, it is still currently a buyer’s market. Now is a great time for homebuyers in Edmonton to take advantage of less competition and affordable prices almost unheard of in any other major city in Canada. As of June 2020, the average selling price for a home in Edmonton is $360,1792. If you purchase a home with a Purplebricks dedicated Home Buying REALTOR®, not only will you receive $2,000 in cash back*, our local agents will use their expertise to understand your needs and help you navigate the new market reality to land you your dream home. Added bonus – you can sign up for our automatic email alerts to keep you informed of homes that meet your criteria as soon as they hit the market.
Have a future post-secondary student in your home? You’re in luck, because Edmonton is home to 16 post-secondary institutions3, including the internationally recognized University of Alberta. A top five research university in Canada, the University of Alberta has more than 200 undergraduate programs and more than 500 graduate programs4. Impressively, at the time of writing, the University of Alberta has produced 75 Rhodes Scholars.
Over the past five years, Edmonton has been responsible for 25% of all net new jobs in Canada and has had a Gross Domestic Product (GDP), income and population growth three times the Canadian average5.
The oil and gas sector is the largest contributor to Alberta's GDP and plays an important role in Canada's overall economy6. But that’s not Edmonton’s only major sector, and the economy continues to grow and expand on its economic diversity. Edmonton is home to approximately 60% of all life science companies in Alberta, and provides 40% of the province’s advanced manufacturing output. The largest use of land is for agriculture, with roughly 1.7 million acres of farms covering 80% of the land7.
And did you know there is an exciting company that has an office in Edmonton? You guessed it, we do! If you’d like to join us in revolutionizing the real estate industry, visit our careers page to explore current opportunities. We also have remote working opportunities for licensed real estate positions.
Do you travel for work? No problem! With Edmonton's extensive bus and light rail transit (LRT) public transport services, there’s many convenient routes to help you get around the city. And the Anthony Henday Drive 78-km freeway encircles all of Edmonton, making it a commuter go-to in the region. If flying is more your speed, Edmonton International Airport has over 60 non-stop national, US and international destinations. The Skyshuttle makes getting to and from the airport a breeze.
As we hinted at earlier, there’s no shortage of things to do in Edmonton. West Edmonton Mall alone has a plethora of activities for the whole family to enjoy—from a waterpark, roller coasters, an underground aquarium, bowling alley, ice rink and so much more, you could spend a whole weekend exploring this mall! While the mall and some of these attractions are now open, some attractions may be currently closed or have visiting restrictions due to COVID-19, be sure to check their website before your visit8.
Edmonton has a booming culinary culture! With an array of up-and-coming bakeries, hyper-local bistros and craft beer taprooms, Edmonton’s food scene is gaining international recognition. The Independent9 newspaper in the UK deemed Edmonton “Canada's most exciting culinary city” for food that is “increasingly inventive and experimental”. You can find cuisine from Belgian to Scandinavian to Ethiopian to every other corner of the world in Edmonton. Check out Narcity's "46 Bucket List Restaurants Every True Edmontonian Needs To Try10" for some fan favourites! Due to COVID-19, some restaurants may be temporarily closed or offering only takeout services—visit the restaurant’s website for more details before you visit!
If you prefer to have fun outdoors, Edmonton’s River Valley, which is 22 times the size of New York’s Central Park11, is a great place to start. With 22 major parks and over 150 kilometres of trails, you can enjoy walks, bike rides, picnics, snowshoeing, cross-country skiing and more12. During the wintertime, Edmonton takes full advantage of their truly Canadian winters with city-wide snowball fights, deep freezer races, and spectacular views of the Northern Lights.
Ready to sell your home in Edmonton or want to call it “home”? A Purplebricks REALTOR® can help.
Purplebricks is here to support Canadians by providing them with a full-service real estate experience while saving them thousands in commission when selling their home. As for homebuyers, we share the commission by giving buyers $2,000 in cash back* when they buy a home with us. Call 1-877-888-3131 for more information.
1. Explore Edmonton
2. REALTORS® Association of Edmonton June 2020 Market Update
3. City of Edmonton
4. University of Alberta
5. Edmonton Industrial
6. Edmonton Global
7. Edmonton Global – Food and Agriculture
8. West Edmonton Mall
11. Explore Edmonton
12. Edmonton River Valley
13. Explore Edmonton - Festivals