The May 2026 stats just landed from the REALTORS® Association of Edmonton, and they're worth a few minutes of your time. The headline: it's not one market right now. It's two.
Detached homes are still climbing. Condos are going the other way. If you only look at the "average price went up" number, you'll miss the part that actually matters for your situation.
The big picture
Across the Greater Edmonton Area, there were 2,557 sales in May. That's up 3.2% from April, but down 13.4% from May of last year. So activity is picking up seasonally, the way it always does in spring — it's just running cooler than the frenzy we saw in 2025.
The bigger shift is inventory. New listings hit 4,855 in May, up nearly 22% in a single month and up 2.7% from a year ago. Overall inventory is now 23.9% higher than it was last May. That's the number I keep coming back to. More homes on the market means more choice, more time to think, and more room to negotiate. For two years buyers had none of those things. They're back.
The all-residential average price came in at $491,794 — up 2.7% from April and 6.3% from last May. The MLS® Home Price Index benchmark, which smooths out the noise from what types of homes happened to sell, sits at $432,200, basically flat month-over-month and down 1.8% from a year ago.
Detached homes: still the engine
This is where the strength is.
Detached homes averaged $604,744 in May — up 2.6% from April and 4.8% from last year. That 4.8% is doing the heavy lifting for the whole market. Detached sales were up 6.4% month-over-month, and new detached listings climbed 19.5% in May, so there's fresh supply coming on without prices giving any ground.
What I'm seeing on the ground matches this. Well-priced detached homes in the good St. Albert pockets — Jensen Lakes, Erin Ridge, Kingswood — are still moving, and the right ones are still getting competitive interest. The difference from 2025 is that buyers aren't being forced to strip every condition off their offer to compete. You can buy a house with an inspection and a financing condition again and still win it.
Condos and townhouses: the other half of the story
Here's the contrast.
Apartment-style condos averaged $206,282 in May — down 8.7% from April and down 3.7% from a year ago. Condo sales were up slightly month-over-month but 21.6% lower than last May. There's more supply, more competition between sellers, and prices are softening because of it.
Row and townhouse properties told a similar story: an average of $309,554, down 1.2% from April, with sales off 10.8% for the month and down almost 35% year-over-year.
Semi-detached landed in the middle — $433,478 average, up 2.3% from April but down 1.5% from last year, with sales actually up over both April and last May.
So the pattern is clear: the more "house" you're buying, the stronger the price trend. The more "attached" and entry-level you go, the more the scale tips toward buyers.
What this means for you
If you're buying a condo or townhouse: this is one of the best stretches we've seen in years. Inventory is up, prices are easing, and you have leverage. Take your time, compare a few, and don't be afraid to write a sensible offer under ask. If you've been renting and wondering whether to jump in, run the actual numbers — the gap between renting and owning at this level has narrowed.
If you're buying detached: you've got more selection than you did last spring, but don't expect a discount on the good ones. Price-correct detached homes are still moving. Get pre-approved, know your number, and be ready to act when the right one shows up — just know you don't have to abandon your conditions to do it.
If you're selling a condo: price it right the first time. With supply up and prices softening, the overpriced listings are the ones sitting. The market will reward a sharp price and punish an optimistic one.
If you're selling detached: you're in the stronger position, but "stronger" isn't "anything goes." Buyers have options now. Present the home well, price it to the recent comparables, and it'll perform.
My read
This is a healthy, balanced-to-buyer market with a split personality. The averages look calm on the surface, but underneath, detached and condo are pulling in opposite directions. Whatever side of a move you're on, the right strategy depends entirely on which half of the market you're standing in.
That's exactly the kind of thing worth a ten-minute conversation before you make a decision. If you're thinking about buying or selling around St. Albert or Edmonton — this spring or later this year — I'm happy to walk you through what the numbers mean for your specific situation, your neighbourhood, and your price range. Book a call or send me an email.
John
Market figures from the REALTORS® Association of Edmonton, May 2026, covering the Greater Edmonton Area.