Edmonton Real Estate Market Update: How to Win in Multiple Offer Situations

May 12, 2025

Spring is in full swing in Edmonton's real estate market, and our team is seeing significant activity across all property types. As inventory remains tight and competition fierce, we wanted to share our latest market insights and provide you with proven strategies for winning in multiple offer situations.

Current Market Stats: Edmonton's Hot Spring Market

The numbers don't lie - Edmonton's real estate market continues to show strong growth:

• Month-over-month inventory has increased by 10.3%

• Month-over-month sales are up by 5.4%

• Year-over-year selling prices have increased by 8.2%

• Months of inventory sits at just 2.2 (indicating a strong seller's market)

• Properties are spending less time on the market

After a brief period of uncertainty around the recent election, market activity has not only maintained momentum but accelerated. Properties in the affordable price range are routinely receiving multiple offers, with some homes selling for as much as $171,000 over asking price in just one day.

Top 6 Tips for Winning in Multiple Offer Situations

In today's competitive environment, having a strategic approach is essential. Here are six key strategies our team has successfully used to help clients win in multiple offer scenarios:

1. Get a Strong Pre-Approval

Before you start house hunting, secure a solid pre-approval with your mortgage broker. This puts you in a position of power during negotiations because you know exactly what you qualify for. For maximum impact, ask your lender to include the specific property address on your pre-approval letter when making an offer.

2. Write a Personal Letter

Don't underestimate the emotional aspect of home selling. A thoughtful letter to the seller explaining your situation, sharing a bit about your family, and describing how you envision your life in their home can make a meaningful difference. This personal touch has helped many of our clients stand out in competitive situations.

3. Tighten Your Conditional Period

While the standard conditional period is typically around 10 business days, consider shortening this timeframe if you're comfortable doing so. Many successful offers include 3-7 business day conditional periods. Just be sure to coordinate with your mortgage broker to ensure they can meet this timeline.

4. Accommodate the Seller's Ideal Closing Date

Flexibility on closing can be a powerful negotiating tool. Whether the seller needs a quick close or a longer timeline, aligning your offer with their preferences can give you a significant edge.

5. Submit a Strong Deposit

In Alberta, your deposit is held in trust and remains safe until conditions are removed. While the standard minimum deposit is around $5,000, coming in with $10,000 or more signals financial strength and serious intent, even though it's largely symbolic until you go unconditional.

6. Work with an Experienced Realtor

Partner with a realtor who has extensive experience handling multiple offer situations. A good agent will build rapport with the seller's representative, present your offer professionally, and strategically position you for success. Their network and reputation in the community can make all the difference.

What We're Seeing on the Ground

Our team is witnessing particularly strong demand in several segments:

• Properties with Income Suites: These are selling "like hotcakes" due to their investment potential and mortgage helper benefits.

• Townhouses: With just 1.4 months of inventory available, townhouses are being snapped up as soon as they hit the market.

• Condos: After a period of slower activity, the condo market has picked up significantly, with previously stagnant listings now moving quickly.

New Construction Opportunities

While resale properties are seeing intense competition, we're also offering some exciting new construction opportunities that aren't yet reflecting the recent 8.2% price increases in the broader market. These include:

• Single-family homes with secondary suites

• Multi-family properties

• Properties with quicker possession timelines (under construction but not requiring the full 10-12 month pre-construction wait)

Many of these opportunities are available off-market through our team, giving our clients access to inventory that most buyers won't see.

Looking Ahead

As we move into summer, we expect the strong market fundamentals to continue. Consumer confidence is high, and both buyers and sellers are taking action. For those who have been waiting on the sidelines, now could be an excellent time to make your move, whether you're looking to upgrade, invest, or sell a property that you've been holding onto.

Our team is here to help you navigate this competitive market with proven strategies and exclusive opportunities. Contact us today to discuss your real estate goals and how we can help you achieve them in this dynamic market environment.

https://www.aofteam.com/contact

The AOF Team