Luxury is just that, a luxury, but not a necessity.
In February, CTV News Edmonton took a look at the five most expensive condos for sale in the city.
Four of those listings are still up at the same price.
This month, we wanted to look at homes the city has on offer on the other end of the scale.
With all the properties last month being over $1 million, we decided to slash that figure and see what could be bought for under $500,000.
The average price for a detached home in Edmonton for February was $567,913, according to the Realtors Association of Edmonton. That price is up 1.2 per cent from January and up 11.9 per cent from February 2024.
There were a total of 1,825 residential unit sales in February, with 1,015 of those being detached homes.
Detached homes were on the market for an average of 39 days, up 12 days from January.
“There’s been a definite shift in the market over the past month towards an early spring market,” says Realtors Association of Edmonton 2025 Board Chair Darlene Reid.
“Realtors know that prices will increase as the season gets busier and new inventory tends to decrease.
“If they are representing buyer-clients, they’re likely warning them to be ready to move fast when the right property comes up.”
Here are 10 houses for sale in Edmonton for under $500,000:
10 - $234,900 three-bedroom home in Alberta Avenue
Starting the list way under budget is this 1,073-square-foot bungalow in the Alberta Avenue neighbourhood.
The house, built in 1907, is the oldest one on this list.
There are three bedrooms and 1.5 bathrooms in the home, which has a partially-finished basement and a “spacious” backyard.
The property is a corner lot with commercial zoning, according to the listing.
The house has been on the market for 15 days and is located at 11503 96 St. NW.
9 - $349,000 three-bedroom bungalow in Sherbrooke
Heading west but staying north of the river is this 998-square-foot bungalow in the northwest Edmonton area of Sherbrooke.
The house is tied for smallest on the list at under 1,000 square feet, though the property does boast a large backyard.
The lot is subdividable and close to schools and amenities, including NAIT and Kingsway Mall, according to the listing.
The home was built in 1953.
The home has been on the market for 14 days and is located at 12030 127 St. NW.
8 - $399,900 five-bedroom bungalow in Montrose
Skirting closer to the river valley, which has been a trend in expensive properties through the last two articles in this series, is this 1148-square-foot bungalow.
The 1961 home was “extensively updated” between 2018 and 2019, including upgrades to the roof, windows, plumbing, furnaces and electrical systems.
The basement has a private entrance and is a legal suite, according to the listing.
The home has five bedrooms and two bathrooms and is located close to Yellowhead Trail and Anthony Henday Drive.
The listing is only a day old, as previous ones for this list had been taken down - possibly because they were sold - and is located at 12009A 64 St. NW.
7 - $410,000 three-bedroom four-level split in Sifton Park
Just north of the previous home, this 1,700-square-foot home breaks the $400,000 and single level house marks.
The four-level split has a detached garage and a large backyard space with mature trees.
There is plenty of space in the house, including a formal dining room, both living room, family room, large kitchen and office space.
The basement in the 1975 build is large, but unfinished.
The house has been on the market for two days and is located at 4711 132 Ave. NW.
6 - $419,900 five-bedroom bungalow in Thorncliffe
It’s back to the bungalows with this 1,502-square-foot, five-bedroom, two-bathroom home in west Edmonton.
The home features a large kitchen, finished basement and entertainment spaces.
The backyard, as has been the trend so far in this list, is large and houses the detached garage.
The home was built in 1971 but has had updates, including a new roof, according to the listing.
The home has been on the market for 18 days and is located at 8107 171 St. NW.
5 - $424,900 four-bedroom bungalow in Bergman
Swinging back to the east side is this 1,072-square-foot bungalow in the Bergman neighbourhood.
The 1963 home has a finished basement with a separate entrance, solid-oak kitchen cabinets and newer appliances and three-year old shingles on the roof.
The garage is detached, but is “oversized” and heated, according to the listing.
The back deck is partially covered and the backyard has space for a firepit and an RV parking spot.
The home has been on the market for 17 days and is located at 12216 42 St. NW.
4 - $429,900 three-bedroom bungalow in Evansdale
Staying north of the river (we will venture south of it soon) is this 998-square-foot home in north central Edmonton.
The three-bedroom, two-bathroom house was built in 1981, but has been “renovated extensively,” according to the listing.
Some of the renovations include a new kitchen, appliances, windows, shingles and four-piece bathroom on the main level.
There are also two gas fireplaces, a second kitchen in the basement, air conditioning and a detached garage for the home.
The house has been on the market for 15 days and is located at 8803 152B Ave. NW.
3 - $440,000 five-bedroom bi-level in Daly Grove
South of the river for the first time in this list is this 1,034-square-foot home in the southeast neighbourhood of Daly Grove.
The five-bedroom, two bathroom property has a separate entrance to the basement suite.
The large backyard backs onto a green space and sports fields by the Daly Grove School and Southwood Community League.
The home was built in 1980 and both the main floor and basement kitchens have updated kitchens.
The home has been on the market for 15 days and is located at 1851 40 St. NW.
2 - $479,900 four-bedroom five-level split in Satoo
This 2,032-square-foot home in the Mill Woods neighbourhood of Satoo is the largest on the list.
The three above-grade levels house the bedrooms, den, laundry, kitchen, dining area and more.
Further down is two full-height split levels for the basement, which is unfinished and contains another laundry area.
The two furnaces were upgraded in recent years to high efficiency models and the shingles are around seven years old, according to the listing.
The large backyard also backs onto a green space.
The home has been on the market for less than a day and is located at 8309 19 Ave. NW.
1 - $499,900 5 bedroom home in Kiniski Gardens
Sitting just under the limit for this list is this 1,328-square-foot bungalow in southeast Edmonton.
The five bedroom, three bathroom home was built in 1991 but boasts a new garage door, newer furnace and a newer kitchen.
The backyard has a large porch, gazebo and hot tub. Inside, the basement is fully finished, which is where two of the bedrooms and one of the bathrooms are.
The property is close to Kulawy Lake, Creeks Crossing Park and Mill Creek Ravine.
The house has been on the market for 18 days and is located at 3524 40 Ave NW.
