Cheap Houses and Condos for Sale in Edmonton

Prices from $68,500 CAD to $199,900 CAD Listings last updated 06/23/2018

Cheap Homes in Edmonton

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Finding cheap houses for sale in Edmonton, AB

Get instant access to a lot of relevant information about Edmonton, AB real estate, including property descriptions, virtual tours, maps and photos. Point2 Homes gives you far more than a simple list of cheap houses for sale in Edmonton, AB, as the search results pages also have a lot of information on Edmonton, AB, right below the listings. Among the deep filtering functions on Point2 Homes, you can use Edmonton, AB real estate prices, square footage, amenities and many other criteria to help narrow down your search. Price drops are another feature at your disposal, which can be especially useful when you’re looking for cheap houses or cheap condos.

There are 843 cheap houses for sale in Edmonton, AB

Use the map view to find Edmonton, AB cheap homes for sale, based on city features or amenities that you may want close by. You can close in on a specific neighbourhood or area by simply drawing around it with the polygon or radius tools. Never miss an opportunity for a cheap home, by saving your searches. This way, you get new listings in your inbox, daily or every week, based on your preferences and your budget. If you’d like to get in touch with a professional, agents are displayed next to their listings, and they’re easy to contact through the online forms or directly by phone – all their contact information is displayed. If you want more options in terms of professional advice, you can click the Tools tab and Find an Agent, and you’ll get a list of helpful and knowledgeable real estate agents in Edmonton, AB. Visit the Point2 Homes blog and you can find up to date expert advice on many markets throughout Canada, regular market reports, neighbourhood scoops in cities throughout the provinces, best deals for cheap homes, and other useful recommendations.

CITY GUIDE
EDMONTON, ALBERTA

Set on the North Saskatchewan River, Edmonton is a vibrant city located in the province of Alberta. Also known as the “Gateway to the North”, Edmonton is very well connected with the northern areas of Canada, and is very strategically positioned near mining operations and the oil sands in Alberta and the Northwest Territories. The city has a population of 930,000, and was first inhabited as early as the 1700s. In terms of climate, Edmonton experiences very cold and snowy winters, alongside hot and mild summers. The climate is rarely humid, unlike other areas of Canada, and Edmonton is known to receive a generous amount of sunshine each year.

Owing to its position close to the oil sands, Edmonton, like Calgary, is a hub for oil and gas companies. It is also a centre for research, education, and technology. The city has experienced a market decline due to low oil prices, but things are looking up and it’s thought that the rising price of oil and efforts to redevelop the city will have a positive impact on the economy.

There are a number of arts facilities and museums in the city, as well as sports teams in various major leagues. Edmonton attracts a large number of tourists each year because of its celebration of culture and arts, as well as its convenient position just 220km west of the Rocky Mountains, where popular National Parks Banff and Jasper are located.

Popular areas in Edmonton include: Abbottsfield, Aldergrove, Allendale, Balwin, Baranow, Bearspaw and Brookside.

Edmonton, Alberta

Edmonton, Alberta
real estate market overview

Real Estate Market Overview

The market in Edmonton isn’t in the best of shapes, largely due to the low oil prices, weak labour market, and subsequently a lower demand for housing. Many people are sitting on their properties, eitherfor financial reasons, or in a bid to wait for the market to rebound. Prices are low and stable, and there’s a huge selection out there, and the next couple of years are expected to see gradual growth and stabilization.

For sellers, the conditions are less favourable, since buyers are stalling, and properties are sitting on the market for much longer than before. The resale market is seeing fairly low prices but a high inventory, and it’s expected that the market will pick up again when the economic conditions achieve more stability. The real estate market hasn’t seen a rapid drop in the last year or so.

This is largely due to the huge investment into the development of downtown Edmonton, which has helped to create more jobs and maintain a stable market. The recession did hit the real estate market quite hard, however it’s thought that the next couple of years will see growth in the economy, which should be followed by growth in real estate. This provides favourable conditions for both investors and first-time buyers, as there’s a large inventory to choose from, and prices still remain very cheap. There is currently a large number of vacant rental properties on the market due to higher unemployment levels and fewer migrant workers coming to Edmonton for the oil and gas industry.

real estate market overview

Cheap Real Estate Market Overview

There is a fairly steady supply of condominiums on the market, which provides favourable conditions for buyers, as there is a large range of properties to choose from. There has been a lot of condo construction and developments in recent years, which has created higher inventory levels.

This is less than favourable for sellers, as the sale of condo units is down year-over-year. However, despite this decline, the price of condos hasn’t changed dramatically since 2014, and has risen slightly since 2016. Housing prices are generally stable, slowly growing, and are relatively affordable compared to other large cities in Canada. The average price of a single-family home in 2016 was around $440,000, and 250,000 for a condo, with both figures remaining fairly stable as time goes on.

It’s thought that housing within the $300,000 to $400,000 range will be the most popular in coming years, especially 2-3 bedroom homes close to public transport. Single-family resale properties are generally very affordable and have stayed fairly stable, and year-over-year price changes are marginal, which is great for first-time buyers. Edmonton’s market is generally in favour of the buyer, with an elevated supply of properties and a large inventory.

cheap real estate market overview

Read more about living in Edmonton, Alberta.