Courtesy of Tracie Sarumowa

Numbers Give Clear Indication That Spring Market Has Begun

$194,101 apt./ condo UP 0.6% year-to-year

$517,313 detached UP 6.7% year-to-year

AVERAGE SALE PRICES

$282,557 row/ townhouse UP 13.9% year-to-year

3,597 NEW LISTINGS 2,467 SOLD LISTINGS

detached 2,131 668 detached 1,462 386

apt./ condo

apt./ condo

2.2 MONTHS OF INVENTORY

68.6% SALES TO NEW LISTING RATIO

39 DAYS ON MARKET

5,320 ACTIVE LISTINGS

Edmonton, April 2, 2024: There were a total of 2,467 residential unit sales in the Greater Edmonton Area (GEA) real estate market for March 2024. New residential listings amounted to 3,597, a number 32.4% higher than in February 2024. Total residential average prices came in at $420,959, a 3.4% increase from February 2024, and an 8% increase from March 2023. Detached homes averaged $517,131, increasing 1.7% from February 2024 and up from the previous year by 6.7%. Row/townhouse prices were up 2.5% from February 2024 and 13.9% when compared to March 2023, selling at an average of $282,557. Apartment Condominium average

prices hit $194,101, increasing 7% over last month and coming in 0.6% higher than the previous year. “It’s great to see an increase of just over 30% for new listings last month, but our overall inventory is still lower than last year by 15%.” says REALTORS ® Association of Edmonton 2024 Board Chair Melanie Boles. “Unit sales numbers are still strong, but not outpacing the new listings; they’re actually very balanced with each other and that’s positive for both buyers and sellers.” Overall, all residential listings averaged 39 days on the market. Statistics reflect market activity in March 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.

(780) 217-2432 tracie.sarumowa@exprealty.com Tracie Sarumowa Associate

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