Courtesy of Susan Sieg

No slump in Edmonton’s property market as numbers begin to cool

$203,742 apt./ condo UP 5.1% year-to-year

$546,101 detached UP 10.2% year-to-year

AVERAGE SALE PRICES

$290,569 row/ townhouse UP 14.7% year-to-year

3,467 NEW LISTINGS 2,591 SOLD LISTINGS

detached 2,036 645 detached 1,468 423

apt./ condo

apt./ condo

2.2 MONTHS OF INVENTORY

5,798 ACTIVE LISTINGS

75% SALES TO NEW LISTING RATIO

35 DAYS ON MARKET

Edmonton, September 3, 2024: There were a total of 2,591 residential unit sales in the Greater Edmonton Area (GEA) real estate market during August 2024. New residential listings amounted to 3,467. Total residential average prices came in at $435,094, a 1.2% decrease from July 2024. Detached homes averaged $546,101, decreasing 1.1% from July 2024. Row/townhouse prices fell 0.5% from July 2024. Apartment Condominium average prices dropped slightly to $203,742, a 0.3% decrease over last month.

“The hot summer season is definitely at an end as we can see clearly from the month-over-month numbers,” says REALTORS ® Association of Edmonton 2024 Board Chair Melanie Boles. “But the yearly comparison is telling a different story. This year’s home prices have increased in double-digit percentages for most residential categories, and the market is definitely more active as the number of sales continues to be stronger as well.” Overall, all residential listings averaged 35 days on the market. Statistics reflect market activity in August 2024 | Source: REALTORS ® Association of Edmonton | Market values stated are of the average of Edmonton and surrounding region. Individual home market values will vary and are affected by factors such as location, size, interior and exterior condition. Please call to get an up-to-date evaluation of your home.

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Call: 780.686.0068 susansiegsells@gmail.com ■ www.SusanSieg.com

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