Edmonton, often called the “Gateway to the North,” is Alberta’s capital and the northernmost major city in the province. Well connected by road, rail and air, the city serves as an important regional hub and is home to just over 1.1 million people in its metropolitan area.
- Best places to buy real estate in Edmonton
- How to read the table
- Recent market trends in Edmonton
- Outlook for Edmonton real estate
- Edmonton’s top three neighbourhoods
- Methodology
Best places to buy real estate in Edmonton
This table highlights Edmonton neighbourhoods that scored best for homebuyers. It includes benchmark prices, short- and longer-term growth, and neighbourhood ratings for value, economic strength and accessibility. Use horizontal scrolling on mobile or desktop to view all columns, and download the data in Excel, CSV or PDF formats if you need to analyze it offline.
| wdt_ID | Rank | Neighbourhood | City | Benchmark price 2022 | 1-year growth | 3-year | 5-year | Value | Economics | Accessibility | Children |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | 1 | Terwillegar South | Edmonton | $339,368 | 7.4% | -4.7% | -5.3% | 4.0 | 5.0 | 2.2 | 51% |
| 2 | 2 | Terwillegar Towne | Edmonton | $511,503 | 12.6% | 15.2% | 8.4% | 3.6 | 5.0 | 2.2 | 51% |
| 3 | 3 | The Hamptons | Edmonton | $494,562 | 15.4% | 25.1% | 22.2% | 3.9 | 4.7 | 1.8 | 52% |
Source: Zoocasa
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How to read the table:
- Benchmark price 2022: The composite benchmark price as of Dec. 31, 2022, covering all property types—detached homes, townhouses/row units and apartments.
- 1-year, 3-year and 5-year growth: The percentage change in the composite benchmark price over each period.
- Value, economics and accessibility: Each neighbourhood is scored from 0 to 5. Higher scores indicate better value for money, stronger local economic indicators (income and education) and easier travel options by walking, cycling or public transit.
- Children: The share of households in the neighbourhood with children.
- See the full methodology for details on how rankings are calculated.
Recent market trends in Edmonton
Edmonton’s housing market remained notably strong through the first half of 2022, showing resilience to rising interest rates longer than many other Canadian cities. The average home price peaked at $417,465 in May 2022 and stayed robust through the summer months.
According to eXp Realty agent Drew Carlson of Carlson Real Estate Group, market conditions were strong from January until mid‑July, with prices rising and demand high. Many properties received multiple offers—sometimes 10 to 20—and often sold above asking price, a pattern that was unusual for Edmonton.
Because Edmonton is relatively affordable compared with larger metropolitan areas, it attracted buyers from other provinces during the pandemic and into 2022. As average prices climbed, detached homes became less attainable for some buyers, pushing demand toward townhouses and duplexes.
Carlson notes that the typical budget for many local buyers sits around $350,000 to $450,000. When detached homes exceeded that range, buyers shifted their focus to attached options, increasing competition in that segment.
Outlook for Edmonton real estate
By early 2023, average prices in Edmonton edged up slightly—reaching $369,286 in February 2023, a 2.2% increase since December. Growth is expected to continue as Edmonton remains an attractive, affordable option for both Canadians and newcomers.
Carlson says market conditions stabilized late last year and buyer interest is returning. Multiple offers have reappeared in some neighbourhoods, and with a growing population, demand is likely to rise.
Inventory remains constrained: there were 5,686 homes listed at the end of February. Although this was an increase from the historic lows seen earlier, supply is still limited and buyers can expect competition. In a market described as “balanced,” properties tend to move quickly when well priced.
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Top neighbourhoods in other regions
Alberta
• Calgary • Edmonton
Nova Scotia
• Halifax
British Columbia
• Burnaby, New Westminster, Richmond • Coquitlam, Port Coquitlam, Port Moody • Langley, Pitt Meadows, Maple Ridge • North Shore • Vancouver
Ontario
• Durham Region • Halton Region • Peel Region • Toronto • York Region
Edmonton’s top three neighbourhoods
1. Terwillegar South
Terwillegar South lies in southwest Edmonton within the larger Terwillegar Heights area. At the end of 2022 the composite benchmark price was $339,368—about 5% lower than five years earlier but up 7% from the previous year. The neighbourhood offers strong value (score: 4.0) and excellent economic indicators (5.0). Accessibility by walking, transit and cycling scores lower (2.2). Roughly 51% of households here include children, making it a family-oriented community.
View Terwillegar South listings on Zoocasa.
2. Terwillegar Towne
Located adjacent to Terwillegar South, Terwillegar Towne is a newer neighbourhood with most homes built after 1995. Its benchmark price finished 2022 at $511,503—up 12.6% year‑over‑year and 8.4% over five years. The area scores 3.6 for value and tops the economics metric with a 5.0. Like neighbouring Terwillegar South, residents commonly rely on private vehicles; accessibility is rated 2.2 and about 51% of households have children.
View Terwillegar Towne listings on Zoocasa.
3. The Hamptons
The Hamptons sits in west Edmonton with quick access to Anthony Henday Drive and routes to the airport and southern parts of the city. Its benchmark price was $494,562 at the end of 2022, up 15.4% year‑over‑year and 22.2% over five years. The neighbourhood scores well for value (3.9) and economics (4.7), though accessibility ranks lower (1.8), reflecting a greater reliance on cars for many trips.
View The Hamptons listings on Zoocasa.
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Further reading about buying a home:
- Mortgage rules when buying a second property in Canada
- Mortgage refinance calculator
- Video: How the Bank of Canada’s interest rate affects you
- The best 5-year variable mortgage rates in Canada
What does the * mean?
Some links are affiliate links and may generate revenue for MoneySense (owned by Ratehub Inc.). If a link has an asterisk (*) or is marked “Featured,” it is an affiliate link. “Sponsored” indicates paid placement. Editorial coverage is independent: inclusion and ranking are not influenced by payments. For details, see the MoneySense monetization policy.
About this article
This content package was produced by MoneySense in collaboration with Zoocasa and presented with financial support from Ratehub.ca. The study and reporting reflect independent editorial work.