Top bidding war mistakes to avoid when buying a home in Edmonton

Don’t let your dream home slip away. Edmonton’s real estate market has become increasingly competitive, particularly for homes in desirable school zones, trendy neighborhoods, or family-friendly suburbs. Bidding wars can escalate quickly, driving up prices and turning the home-buying experience into an emotional rollercoaster.
Whether you’re a first-time buyer or upgrading your space, understanding how to navigate a bidding war can make or break your experience. This guide will walk you through the biggest mistakes buyers make—and how to avoid them so you can confidently compete and come out on top.

Why bidding wars are heating up in Edmonton

Bidding wars are becoming more common in Edmonton—especially in sought-after areas like Glenora, Terwillegar, and in neighbouring cities like St. Albert.

Edmonton has had 23 months in a row of lower year over year inventory – the number of available homes to view has steadily shrunk in the last year ranging from 6% less inventory to 24% less inventory depending on the month.

Even though February 2025 was slow, we are still 1.43% higher in year to date sales than last year’s record pace. We continue to live in a sellers market and prices for single family homes have increased by 11% year over year and we are down to 31 days on the market this year compared to 39 last year.

While our city is still more affordable than Vancouver or Toronto, a mix of limited inventory and strong buyer demand, particularly in the $400K–$600K range, is driving up competition across neighborhoods.

If you don’t have a smart strategy, you could end up overpaying or missing out altogether.

How to win a bidding war on a house in Edmonton

A solid plan can mean the difference between landing your dream home or missing out entirely. Here’s what you need to do:

• Get pre-approved early
• Work with a local real estate expert
• Act quickly and strategically
• Understand seller motivations
• Submit clean, compelling offers
• Set your budget—and stick to it

We’ve created a comprehensive guide on how to win a bidding war in Edmonton, breaking down the top common bidding war mistakes and providing strategic insights to help you secure your ideal home.

16 bidding war mistakes to avoid in Edmonton

Below, we break down the most common mistakes buyers make when entering a bidding war—plus local insights and tips to keep you ahead.

❌ Mistake #1: Skipping mortgage pre-approval

Sellers prioritize serious buyers. If you’re not pre-approved for a mortgage, your offer might not even be considered.

Benefits of pre-approval:

• Shows you’re financially ready
• Helps define your budget early
• Speeds up your offer process
• Makes you a stronger candidate in busy markets like Windermere or Sherwood Park

✅ Tip: Work with a mortgage broker before you start your search so you’re ready to compete when the right listing hits the market.

❌ Mistake #2: Waiting too long to make a move

Houses in popular neighborhoods like Rutherford or Summerside can receive multiple offers within hours of being listed. If you hesitate—even for a day—you risk losing out to a buyer who acted faster.

✅ Act fast: If a listing checks most of your boxes, book a showing right away. Don’t wait for the weekend or a second opinion from a friend. In a fast-moving market, speed often beats deliberation.

❌ Mistake #3: Not working with a local real estate agent

Real estate is hyper-local. An agent unfamiliar with Edmonton’s neighborhoods might not recognize trends, pricing strategies, or competition patterns. You could end up overpaying or losing out because your offer wasn’t competitive enough.

Work with an Edmonton-based agent who knows the ins and outs of your target communities. They’ll provide insights into how quickly homes are selling, what types of offers are winning, and how to make your offer stand out.

❌ Mistake #4: Getting emotionally attached too soon

It’s easy to fall in love with a house, especially if it ticks all the boxes—but emotional attachment can cloud your judgment. You may feel pressure to win at any cost, leading you to bid higher than you should or waive important conditions.

How to stay grounded:

• Define your “must-haves” vs. “nice-to-haves”
• Set a firm budget—and stick to it
• Be ready to walk away

There’s always another home. Strategic buyers come out ahead.

❌ Mistake #5: Making weak or incomplete offers

An incomplete or lowball offer makes it look like you’re not serious. Sellers are reviewing multiple offers quickly, and they want clean, confident bids—not ones that are missing paperwork or come in under market value with no explanation.

Ensure your offer is professionally presented, includes all necessary forms, and meets or exceeds expectations in price, conditions, and timelines. A strong, well-prepared offer can sometimes beat a higher price from a buyer who looks disorganized.

❌ Mistake #6: Ignoring the seller’s priorities

Many buyers focus only on price—but sellers have other motivations, too. Sellers may prefer:

• Flexible or quick possession
• Fewer conditions
• Strong deposits
• Firm offers (especially builders in Chappelle, Keswick, or Beaumont)

✅ Tip: Have your agent ask what the seller is looking for. If they want flexibility, be open to adjusting your possession date. If they’re downsizing and looking for fewer complications, minimize conditions. Matching their preferences can be just as important as price.

❌ Mistake #7: Submitting offers you’re not serious about

Submitting offers “just to test the waters” can backfire. You might end up winning and then backing out, potentially losing your deposit—or you might hurt your reputation with local agents.

Only make offers when you’re ready and committed. If you’re not sure about a home, keep looking. You want to be all-in when you submit an offer—not second-guessing yourself the next morning.

❌ Mistake #8: Waiving conditions without doing your homework

Removing conditions like home inspections or financing can make your offer more attractive, but it also increases your risk, especially in older neighborhoods like Westmount or Highlands.

Common conditions:

• Home inspection
• Financing
• Sale of your current home

✅ Advice: Only waive conditions if you’ve done due diligence beforehand. For example, have your financing fully reviewed by your lender, or arrange a pre-offer inspection. This strategy works best when you’re confident about the property and your financial stability.

❌ Mistake #9: Overbidding without checking comparable sales

Bidding based on emotion or fear of missing out can cause you to overpay—sometimes by tens of thousands. This can lead to buyer’s remorse or worse, issues with financing if the home doesn’t appraise at the price you offered.

What to do instead:

• Review recent sales (comparable’s or “comps”)
• Analyze neighborhood trends (e.g., Bellevue vs. Highlands or Tamarack vs. Mill Woods)
• Understand true market value

🔗 Reference: RECA – Understanding Fair Market Value

❌ Mistake #10: Forgetting about closing costs and future repairs

Winning a bidding war is exciting—but don’t drain your budget. Many buyers max out their budgets on the purchase price and then scramble to cover these extra expenses. You still need to cover:

• Legal fees
• Property taxes
• Immediate repairs
• Home insurance
• Inspection costs
• Moving fees
• GST

💰 Budget Tip: Build a buffer into your budget—1.5% to 2.5% of the purchase price is a good rule of thumb. And during showings, keep an eye out for aging appliances, roof condition, or older windows that may need replacement soon.

❌ Mistake #12: Assuming affordable areas mean less competition

Even in more affordable neighborhoods like North Edmonton, buyers are running into multiple-offer situations. Buyers who assume “less desirable” neighborhoods are safer from bidding wars can be caught off guard and lose out because they didn’t prepare for competition.

Areas like McConachie, Klarvatten, and Canossa may look like “deals” on paper but can attract many buyers at the same price point.

✅ Tip: Treat every offer like a potential bidding war. Look at the days on market and recent sale prices for similar homes. If homes are going fast and over list, prepare to compete—regardless of neighborhood.

❌ Mistake #13: Forgetting who you’re competing against

Buyers relocating from Ontario or British Columbia often come with more equity and can afford to offer well over asking. Locals hoping to upgrade may struggle to keep up.

Out-of-province buyers are helping drive prices up—especially in desirable or move-in ready homes.

✅ Tip: Know your competition. If a listing is attracting out-of-town attention or shows extremely well, be ready to compete—or shift focus to homes needing cosmetic updates.

❌ Mistake #14: Confusing list price With market value

Some sellers purposely list their homes below market value to generate buzz and encourage multiple offers. If you treat the list price as the “real” value, you’ll likely be outbid—or miscalculate how much the home is worth.

Based on the data from March, we’re seeing that the highest rates of housing prices selling over list price in Edmonton are for houses that sold in Sherwood Heights, Beverly, Home Steader, and Forest Heights. Additionally, properties requiring renovation in mature neighborhoods generated significant interest when priced below market value.

What to do instead: Use a comparative market analysis to determine market value, not list price. Understand that a $480K home might actually be worth $520K and adjust your strategy accordingly. Your agent should help you make this judgment call.

❌ Mistake #15: Letting your agent push you too far

Some agents are focused on winning, not what’s right for you. They may push you to increase your bid or remove conditions to get the deal done—even if it’s not in your best interest.

✅ Advice: Work with an agent who listens, respects your limits, and offers balanced advice. It’s okay to slow down or walk away. A good agent supports your goals—not their commission.

❌ Mistake #16: Refusing to expand your search area or property type

Sticking to one neighborhood in a specific community or only wanting a detached home can limit your options. Some buyers zero in on one or two neighborhoods and ignore surrounding communities that offer better value and less competition.

Stay open-minded. Consider townhomes, duplexes, or nearby communities that offer similar amenities with less competition. You may find a better fit—and a smoother buying experience—just outside your initial criteria.

Edmonton specific bidding tips

• In older neighborhoods like Highlands and Bonnie Doon, get an inspection—but shorten the due diligence window to stay competitive.
• In new developments around South Edmonton or Beaumont, builders often prefer clean offers* with quick closings.
• In St. Albert or Sherwood Park, expect to go over asking—but only if the price is fair to begin with.
• Avoid submitting “just-to-see” offers. Even lowball bids can skew comps and fuel bidding frenzies.

💡 What’s a clean offer? A clean offer means less complicating factors. This can include: no conditions or shorter time frames, no off putting terms where the seller is asked to do more than they originally intended or less for that matter, or a clear and competitive price.

Your next move starts here

Winning a bidding war in Edmonton takes more than luck—it takes strategy, preparation, and the right guidance.

Let Royal LePage Noralta Real Estate help you navigate the process confidently. Whether you’re just getting started or about to submit an offer, our experienced team is here to help you make smart, informed decisions.

Contact us today to schedule a free consultation and start your home search with the right plan.