About the Edmonton Real Estate Market by Decade.
In the early 1960s, Edmonton had a large luxury real estate boom. These homes can be found in Aspen Gardens, Grandview Heights, Parkview, Pleasantview, Malmo Plain, Laurier Heights and Rio Terrace. The more affordable houses were built in Balwin, Belvedere, Delwood, Elmwood, Forest Height, Glengarry, Kenilworth, Kensington, Killarney, Lendrum Place, Meadowlark Park, Ottewell, Rosslyn, West Meadowlark Park and York.
Edmonton real estate construction in the late 1960s slowed substantially but still continued with new homes still being built in Beverly Heights, Delwood, Duggan, Glenwood, Greenfield, Kildare, Kilkenny, Lansdowne, Mcleod, Rundle Heights and York. Luxury house construction also continued in Brookside, Laurier Heights, Patricia Heights, Royal Gardens and Westbrook Estate.
A large portion of Edmonton houses is built in the 1970s. These homes are typically built rectangular or L-shaped featuring three good-sized bedrooms. Most Edmonton houses built in the early 1970s have little insulation compared to modern requirements. Houses constructed in southwest Edmonton in the early 1970s are located in are in the communities of Pleasantview, Duggan, Steinhauer, Rideau Park and Brander Gardens. West Edmonton in Thorncliffe, Belmead, Aldergrove and Westridge. North Edmonton in Homesteader Caernarvon, Lorelei, Beverly Heights, Evansdale, Forest Heights and Northmount.
During the late seventies, the Edmonton housing market boomed in the Castledowns area and inn Millwoods in Bannerman, Carlisle, Dunluce, Baturyn, Beaumaris, Greenview, Hairsine, Hillview, Kernohan, Meyonohk, Pollard Meadows, Sakaw Tipaskan and Belmont. Several houses were also constructed in west & southwest Edmonton in Blue Quill, Ermineskin, Gariepy, Lymburn, Ormsby Place, Ramsay Heights and Steinhauer.
n the 1990s, Edmonton residential growth was still slow and steady and began being flooded with cookie-cutter 2-story houses on zero lot lines. Although there were exceptions in the luxury community of Riverbend and the newest district of Lewis Estates.
In 2000, the Edmonton real estate market was a swing of ups and downs. The early 2000s had steady growth until 2006 when we had a massive real estate boom. During this time, the majority of houses for sale in Edmonton were receiving unconditional offers with multiple bids. This real estate boom was only short-lived and cashed by mid-2007. By the end of 2009, there was a surplus of foreclosures and vacant properties in our city and Edmonton house prices had begun to drop.
If you are dreaming of a new build, they can be found in communities on the edge of our city and a few interior Edmonton neighbourhoods that are undergoing revitalization including Glenora near the downtown core, Pleasantview in southwest Edmonton, Belgravia near the University of Alberta and Westmount.
After the turn of the century, Edmonton house prices stayed stable, but no equity was built by the time factor, leaving many sellers to sell for a bit less than what they purchased their home for years earlier. Today, this is still the case, with many Edmonton home sellers unsure of whether to sell or wait out another decade. As a home buyer in Edmonton, there are plenty of homes to choose from in all price ranges. Contact us and start your house-hunting today!