The market shifted on us this spring, and I want to be straight with you about what I'm actually seeing.
Since mid-March, active inventory in St. Albert has climbed to roughly 280 homes — about 40% higher than this time last year. That's not a crash. That's breathing room.
What 280 listings actually means
For context, the all-time low was late 2021 when we had maybe 80 active listings across the entire city. That was brutal. Multiple offers on everything, conditions stripped out, buyers writing love letters. The worst kind of market if you're on the buying side.
Today's not that. Today you can book a showing, think about it overnight, maybe go back for a second look. That's normal. For two years it wasn't, and people forgot what normal feels like.
Where prices sit
Median sale price across St. Albert in April was around $510,000. That's essentially flat year-over-year — up maybe 2% from April 2025, which is less than inflation. Jensen Lakes and Heritage Lakes are still commanding premiums at $620K+ median, but Braeside and the older pockets are softer. I'm seeing some Braeside detached homes listed under $400K again, which hasn't been common since 2022.
The condo market's a different story. There are 45+ active condo listings in the city right now — that's two years of supply at current absorption. If you're a first-time buyer, this is probably the best entry point since 2020. Sellers of condos? You're going to need to be competitive on price.
The negotiation landscape
Here's something I haven't said in years: buyers are getting conditions accepted again.
I'm closing a deal this week in Erin Ridge where the buyer got financing, inspection, and a 60-day possession. Last year that buyer would've been laughed out of the room. We had four comparable sales in the neighbourhood to support the offer, the seller knew it, and we came to terms in three days.
It's not 2019 — you're not lowballing 10% under ask and getting a deal. But 2-3% under ask with conditions? That's happening regularly now. The market's balanced, maybe slightly favouring buyers in the lower price brackets.
What I'd do if I were buying today
- Get pre-approved and know your real number. Rates have held for six months — 4.24% on a five-year fixed is what I'm seeing. Don't guess. Know what the payment looks like.
- Look at days on market. Anything over 30 days in this market means there's a reason. Might be the price, might be a problem with the property, might be a difficult seller. Ask me — I'll tell you which one it is.
- Don't sleep on the older neighbourhoods. Akinsdale, Downtown, parts of Woodlands — these have character homes on mature lots that the new builds in Jensen Lakes can't replicate. The trade-off? You might need to budget for a furnace or windows in 5-7 years. Factor that in.
- Condos are genuinely undervalued. If you're renting at $2,000+ a month, run the numbers on a condo. At current prices and rates, the spread between renting and owning has narrowed significantly.
The wildcard
Election year in Alberta always makes people nervous. I've seen three of them since I started in this business. The pattern: activity dips in the 30 days before, then picks up sharply after. If you're serious, don't wait because of politics. The market doesn't care about your ballot — it cares about interest rates and inventory, and both are relatively stable right now.
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If you're thinking about buying in St. Albert — whether it's next month or next year — I'm happy to talk through the numbers, the neighbourhoods, and what's realistic for your situation. Book a call or drop me an email.
John