Average price, City of Edmonton, all residential
about $435,000As of September 2026.Source
Median price, City of Edmonton, all residential
about $415,000As of September 2026.Source
Greater Edmonton Area MLS HPI composite benchmark
$423,100As of September 2026.Source
Population of the City of Edmonton
1,010,899As of 2021 Census.Source
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Edmonton is one of the larger cities in Canada where a typical home still costs well under half a million dollars. That helps buyers. For someone who wants to borrow against a home, it means the dollars of room are smaller than the percentages suggest.

Edmonton’s board figures and what they imply for equity

The REALTORS Association of Edmonton’s September 2026 tables show the City of Edmonton with 1,299 sales, an average price of about $435,000 and a median of about $415,000 across all residential types. Inventory stood at 5,999 units, or 4.6 months. Detached homes averaged about $547,000 with a median near $490,000, and apartment condominiums averaged about $202,000 with a median near $175,000. The Greater Edmonton Area, which takes in places such as St. Albert, Sherwood Park and Spruce Grove, averaged $466,080 and had an MLS HPI composite benchmark of $423,100.

Edmonton’s 2021 population was 1,010,899, which is 8.3% above its 2016 count. A growing city does not mean your own home gains value, and the Association said the rise in inventory could soften price growth further.

Why an Edmonton condo owner is offered less than the equity suggests

Per the Financial Consumer Agency of Canada, a second mortgage can reach 80% of appraised value, and the first mortgage balance comes off that figure. In the detached example above, a $330,000 first mortgage leaves $62,000 of room under the ceiling, and a $60,000 loan uses nearly all of it. In the condo example, $65,000 of equity becomes $30,000 of room.

The practical lesson is that a loan sized to a number you heard, not to your appraisal, often comes back smaller. Run the calculator with your own mortgage balance first, then keep a cushion for fees.

Costs: what Edmonton homeowners actually pay

Alberta does not charge a land transfer tax on a purchase, and a second mortgage on a home you already own is not a purchase. What you pay at the Land Titles Office is a registration charge. The Government of Alberta says the levy on mortgages is $5 for every $5,000 for registrations received on or after October 20, 2024. For an $80,000 second mortgage that is 16 units of $5,000, or $80, with a flat fee on top that we have not confirmed.

Add appraisal, title search, title insurance and legal fees, which the Financial Consumer Agency of Canada lists as the usual administrative costs, plus any lender or broker fee. On a $20,000 loan these can look large next to the amount borrowed. Our consolidation page shows how a first year of fees compares with interest saved.

What happens in Alberta if payments stop

Alberta mortgages are enforced through the courts. Under section 41 of the Law of Property Act, the time fixed for redemption in an order is six months from the date of the order for land other than farm land, and a court may decrease or extend that period. In plain terms, the court sets a deadline, and the home can still be lost if the debt is not paid or the home is not sold by then.

If you are already behind, speak to a lawyer or a Licensed Insolvency Trustee before you take on another loan. Our power of sale page describes the Ontario process, so do not read its timelines as Alberta’s.

How easily an Edmonton home sells

A second mortgage lender asks how fast and for how much the home would sell. The City’s September 2026 figures show 4.6 months of inventory, and the Association noted that sales slowed after the school year began while new listings rose 7.2% from August in the wider area. That is not a market in trouble, but it is less forgiving than it was when inventory was tight. A lender may ask more about the property type and your first mortgage.

City, region and the wrong comparison

It is easy to pick the wrong benchmark in Edmonton. The Greater Edmonton Area average of $466,080 includes St. Albert, Sherwood Park and other municipalities where prices run higher, so it overstates what a typical City of Edmonton home sells for. The City’s own table shows about $435,000. Using the wider figure for a home inside the City would make your equity look about $31,000 larger than the City average implies.

The same care applies to property type. Detached homes averaged about $547,000 and apartment condominiums about $202,000 in the City, a gap of roughly $345,000. A lender asks for your property type first for that reason, and a condo owner should expect the smaller dollar room shown in the example above before any fees.

When you work out your numbers, use the figure that matches both your municipality and your property type, then lower it a little to allow for the appraisal.

Questions for an Edmonton-area broker

Before anyone handles your documents, ask for their mortgage broker licence number: the Real Estate Council of Alberta requires one from anyone dealing in mortgages for others for pay, unless an exemption applies. The Alberta page sets out the province’s rules. To put an Edmonton file in front of a professional, look at your options.

An Edmonton detached home at the September 2026 City median

The $490,000 value is the rounded September 2026 median detached price for the City of Edmonton in the REALTORS Association of Edmonton table, used as a stand-in for an appraised value. The $330,000 first mortgage and the $60,000 loan are made up. The 80% ceiling is the one the Financial Consumer Agency of Canada gives for a second mortgage.

Home value used
$490,000
80% of the home value
$392,000

$490,000 x 0.80

Room under the ceiling before any loan
$62,000

$392,000 minus $330,000

Combined loan-to-value with a $60,000 loan
79.6%

$390,000 / $490,000

Room left after the loan
$2,000

$392,000 minus $390,000

Room left under the ceiling after the loan
$2,000

The loan fits, but only just. A small change in the appraisal, or a lender fee added to the loan, could push the plan over the ceiling.

Illustration only. The figures are made up to show the arithmetic. They are not a quote, a rate or an offer.

An Edmonton apartment condo at the September 2026 City median

The $175,000 value is the rounded September 2026 median apartment condominium price for the City of Edmonton, used as a stand-in for an appraised value. The $110,000 first mortgage and the $20,000 loan are made up.

Home value used
$175,000
Equity before the new loan
$65,000

$175,000 minus $110,000

80% of the home value
$140,000

$175,000 x 0.80

Combined loan-to-value with a $20,000 loan
74.3%

$130,000 / $175,000

Room under an 80% ceiling before the loan
$30,000

Equity of $65,000 sounds comfortable, yet the room is $30,000, and a $20,000 loan leaves $10,000. On a small loan, fixed costs such as an appraisal and legal fees are a big share of what you borrow.

Illustration only. The figures are made up to show the arithmetic. They are not a quote, a rate or an offer.

Questions people ask

Edmonton city average versus Greater Edmonton Area average: are they the same?

No. The REALTORS Association of Edmonton reported a Greater Edmonton Area average of $466,080 for September 2026, while its City of Edmonton table shows about $435,000. The wider area includes places like St. Albert and Sherwood Park, where prices run higher.

After an Alberta foreclosure order, how long can I stay in my Edmonton home?

Alberta's Law of Property Act section 41 sets the redemption period at six months from the order for land other than farm land, and a court can shorten or extend it. A lawyer can tell you which dates apply to your file.

What explains the small amount of room offered to Edmonton condo owners?

Condo values are low in Edmonton. The City table for September 2026 shows an average of about $202,000 and a median near $175,000 for apartment condominiums, so 80% of the value minus a mortgage can leave only a few thousand dollars.

Might slower selling change what an Edmonton lender offers?

It can. A lender wants to know how quickly the home would sell if it had to. The City of Edmonton table for September 2026 shows 4.6 months of inventory, and the Association said inventory was 16.7% higher than a year earlier across the wider area.

Bridging to a new Edmonton home: could a second mortgage do it?

A bridge loan is a different product from a second mortgage, with its own costs and its own exit plan. Compare the fees and the end date on our bridge loan page, and ask a licensed professional which structure fits your sale and purchase.

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Sources