Edmonton Real Estate Market Update: November 20–26, 2024

The latest data from the REALTORS® Association of Edmonton provides valuable insights into the city's real estate market activity over the past week. Here's a snapshot of the trends:

1. Unit Sales: There were 479 residential unit sales, reflecting a 9% increase compared to the previous week. This uptick indicates strong buyer activity, possibly driven by favorable market conditions or seasonal demand.

2. New Listings: New residential listings totaled 466, marking a 7% decrease from the prior week. This decline could suggest a tightening inventory, which may lead to increased competition among buyers.

3. Average Price: The average residential price rose to $429,000, a 1% increase from last week. This consistent growth highlights a steady demand for homes in Edmonton.

4. Median Price: The median price sits at $410,000, representing a 2% decline compared to the previous week. This slight drop might indicate a shift in buyer preferences toward more affordable properties or a balanced correction in the market.

Key Takeaways:

• The Edmonton market continues to show resilience with increasing unit sales and stable pricing.

• The decrease in new listings may lead to a competitive environment for buyers in the coming weeks.

• A slight decline in median prices suggests opportunities for buyers seeking affordable homes.

Overall, these trends reflect a robust market with opportunities for both buyers and sellers. If you're considering entering the Edmonton real estate market, now might be the right time to act! For personalized advice, reach out to your trusted REALTOR®.

Edmonton, March 2, 2018: Spring has hit the real estate market in the Edmonton Census Metropolitan Area (CMA), bringing strong unit sales and average price increases.

When compared to January 2018, unit sales across all categories increased, with single family home sales increasing 22.97%, condo sales increasing 14.17% and duplex/rowhouse sales increasing 21.28%. Year over year single family homes unit sales decreased 4.21%, condo sales decreased 4.92% and duplex/rowhouses sales decreased 7.32%. Year to date sales for all residential categories was up 2.43% compared to February 2017.

Month over month and year over year average unit prices increased across all categories. The average price of a single family home was $442,206, which was an increase of 3.14% compared to January 2018 and an increase of 3.73% compared to February 2017. The average price of a condo was $236,808, an increase of 4% month over month and 1.48% year over year. The duplex/rowhouse average price increased to $354,638, up 1.73% relative to January 2018 and up 2.62% relative to February 2017.

“February turned out to be a busy month for REALTORS®, which was reflected in the increases in sales activity and average prices across all categories of residential properties,” said Darcy Torhjelm, Chair of the REALTORS® Association of Edmonton.

Inventory increased 10.90% compared to January 2018 and was up 8.67% compared to February 2017. Listings also increased, up 4.03% month over month and 5.92% year over year. 

Days on market decreased for all categories compared to January 2018. Single family homes took an average of 59 days to sell, condos required 75 average days and duplex/rowhouses needed 64 days to sell. Overall the average days on market for all residential properties was 65, which was 10 days faster than January 2018 and identical to February 2017.

MLS® System Activity for February 2018

1 Census Metropolitan Area (Edmonton and surrounding municipalities) 

2 Single Family Dwelling
3 The total value of sales in a category divided by the number of properties sold 
4 The middle figure in a list of all sales prices
5 Residential includes SFD, condos and duplex/row houses. 
6 Includes residential, rural and commercial sales

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