Embracing Affordability: A Guide to Relocating to Edmonton

Moving to a new city is an exciting adventure, and for those considering a move to, Edmonton stands out as a vibrant and welcoming destination. Nestled in the heart of Alberta, this city boasts a unique blend of urban sophistication and natural beauty. In this blog post, we'll explore the reasons why relocating to Edmonton might just be the fresh start you've been dreaming of.

1. Thriving Job Market: Edmonton is a city with a robust economy, offering ample opportunities for career growth. As the capital of Alberta, it serves as a major hub for industries such as oil and gas, technology, healthcare, and education. Job seekers will find a diverse range of employment options, making Edmonton an attractive destination for professionals looking to relocte and advance their careers.

2. Rich Cultural Scene: Culture enthusiasts will feel right at home in Edmonton. The city is home to a vibrant arts community, with numerous theaters, galleries, and cultural events throughout the year. The Art Gallery of Alberta and the Royal Alberta Museum are just a couple of the cultural gems waiting to be explored. Additionally, Edmonton hosts numerous festivals, celebrating everything from film and music to food and winter sports.

3. Natural Wonders at Your Doorstep: For nature lovers, Edmonton is a paradise. The city is surrounded by stunning landscapes, including the iconic Canadian Rockies. Within the city itself, the North Saskatchewan River Valley offers an extensive network of parks and trails, providing ample opportunities for outdoor activities such as hiking, biking, and picnicking. Edmontonians take full advantage of their beautiful surroundings, no matter the season.

4. Family-Friendly Communities: Edmonton has consistently ranked as one of the best places to raise a family in Canada. The city offers a range of excellent schools, family-friendly neighborhoods, and recreational facilities. From interactive museums like Telus World of Science to the Edmonton Valley Zoo, there are plenty of educational and entertaining activities for families to enjoy together. Top family communities include Terwillegar, The Meadows and Hermitage.

5. Diverse Culinary Scene: Food lovers rejoice! Edmonton's culinary scene is diverse and thriving. From local farmers' markets to international restaurants, there's something to satisfy every palate. The city takes pride in its farm-to-table ethos, with many establishments featuring locally sourced ingredients. Whether you crave comfort food or exotic flavors, Edmonton has it all.

6. Affordability: Dispite, real estate prices skyrocketing accross Canada, Edmonton is still a very affordable place to purchase real estate. Whether you choose to purchase a single family house, townhouse or retirement condo, Edmonton has many great places to live with a focus on 15 minute cities. 

Conclusion: Relocating to Edmonton is more than just a change of address; it's an opportunity to embrace a high-quality lifestyle in a city that values community, culture, and the great outdoors. Whether you're drawn to the economic opportunities, the cultural richness, or the natural beauty, Edmonton has something for everyone. So, pack your bags, and get ready to call this dynamic Canadian city your new home. Welcome to Edmonton – where adventure meets opportunity.

With so many people moving to Edmonton in the last few years, virtual buying has become a popular way to purchase homes. Thinking of relocating to Edmonton and need to buy virtually? Learn how virtual home buying works. 

What is a 15 Minute City and does Edmonton have them?

The concept of 15-minute cities is an urban planning and design idea that aims to create more sustainable, livable, and interconnected communities. The idea is to organize cities in such a way that residents can meet most of their daily needs within a 15-minute walk or bike ride from their homes. This concept was popularized by Professor Carlos Moreno, a French-Colombian researcher.

In a 15-minute city, residents are in close proximatity of essential services such as grocery stores, schools, workplaces, healthcare facilities, and recreational areas are located within a short distance from residential areas. The Streets are designed to be pedestrian and cyclist-friendly, with well-maintained sidewalks, bike lanes, and green spaces for a high walkability.

It is a mixed land use developement which is diversified within neighborhoods, promoting a mix of residential, commercial, and recreational spaces. This reduces the need for extensive commuting and an emphasis on supporting local businesses, encouraging a more self-sufficient local economy.

The goal of 15-minute cities is to reduce reliance on cars, decrease commute times, promote a sense of community, and enhance the overall quality of life for residents. The concept is being explored and implemented in various cities around the world as a response to urbanization challenges and the desire for more sustainable urban living.

Does Edmonton offer 15 minute cities

Edmonton offers several communities which are close to 15-minute cities. However, Edmonton has plans in place to create more in the Orchards, Meadows and Heritage Valley.  These neighborhoods offer several potential benefits that contribute to a more sustainable, enjoyable, and community-oriented lifestyle especially for those who work remotetly.

Overall, the 15-minute city concept aims to create urban environments that prioritize the well-being of residents, promote sustainable living practices, and build strong, interconnected communities. It aligns with the growing awareness of the importance of sustainable development and the desire for a more balanced and fulfilling urban lifestyle.

Total residential unit sales in the Greater Edmonton Area (GEA) real estate market for October 2023 came to 1,812, decreasing from September 2023 by 12.0%, but showing an increase of 21.0% over October 2022. New residential listings amounted to 2,753, which is 8.8% lower than September 2023, and 5.8% higher than October 2022. Overall inventory in the GEA showed decreases of 12.7% from October of last year and 4.9% from September 2023.

For October, detached unit sales totalled 1,055, a decrease of 12.7% from September 2023, but up 12.6% from the previous year. Duplex sales were down 9.2% month-over-month but showed an increase of 20.7% from October 2022. Row/Townhouse unit sales were down 2.2% from September 2023 and up 26.4% year-over-year. Apartment Condominium unit sales saw numbers increase 57.3% from last year and dip 19.2% lower than September 2023.

Total residential average prices came in at $396,550, a 0.6% increase from September 2023, and a 0.7% decrease from October 2022. Detached houses averaged $486,751, amounting to a 1.8% year-over-year increase, but a 1.4% decrease from September 2023. Semi-detached sold for an average of $385,895, resulting in a 4.2% increase year-over-year, and a 9.0% increase from the previous month. Row/townhouse prices were down 3.1% from September 2023 and down 0.6% when compared to October 2022, selling at an average of $258,779. Apartment Condominium average prices hit $203,663 showing increases of 11.8% from last month and 8.9% from last year.

The MLS® Home Price Index (HPI) composite benchmark price* in the GEA came in at $377,000, resulting in a decrease of 0.8% from September 2023, and a year-over-year increase of 0.6% from October 2022.

“We’ve seen in other markets what a low supply of inventory can do to home prices,” says REALTORS® Association of Edmonton 2023 Board Chair Melanie Boles. “And that applies on a smaller scale to any market during the colder season. There are buyers who can’t wait until spring when more properties become available, and they’re willing to spend more on the right place. But until we see interest rates come down, for many people those detached homes are still out of reach.”

Detached homes averaged 43 days on the market, increasing one day from September 2023. Semi-detached homes averaged 47 days on the market, an increase of 10 days from the previous month, and row/townhouses showed now change, averaging 42 days on the market. Apartment condominiums averaged 61 days on the market, showing a seven-day decrease from September 2023. Overall, all residential listings averaged 46 days on the market, increasing by two days month-over-month and dropping by four days in comparison to October 2022.