Courtesy of Stacy McIntyre

2024 marks another strong year for sales and price growth Low inventory sets stage for continued seller’s market

$332,400 apartment $203,920 apt./ condo UP 19.8% UP 6.8% year-to-year

$747,500 detached $540,232 UP 10.6% UP 7.2% year-to-year

BENCHMARK PRICES AVERAGE SALE PRICES

$447,400 rowhouse $292,640 row/ townhouse UP 12.3% UP 5.9% year-to-year

1,239 NEW LISTINGS 1,322 SOLD LISTINGS 1,366 1,428

detached 542 353 apartment detached 613 357 apartment 766 277 apt./ condo 826 221 apt./ condo

106.7% SALES TO NEW LISTING RATIO 104.5%

44 DAYS ON MARKET

2.3 MONTHS OF INVENTORY 2.4

2,989 ACTIVE LISTINGS 3,491

Calgary, January 2, 2025: The year ended with 1,322 sales in December, a three per cent decline over last year. But nearly 20 per cent higher than long-term trends. Overall sales in 2024 were just shy of last year’s levels, as gains for higher-priced homes offset pullbacks in the lower price ranges caused by supply challenges. “Population gains over the past several years have supported sales activity that has outperformed long-term trends. In 2024, sales would likely have been higher if there was more supply choice, especially in the lower price ranges,” said Ann-Marie Lurie, Chief Economist at CREB ® . “That being said, we did start Edmonton, January 3, 2025: There were a total of 1,428 residential unit sales in the Greater Edmonton Area (GEA) real estate market during December 2024, a 25.4% decrease from November 2024 and 17.2% higher than December 2023. New residential listings amounted to 1,367. Total residential average prices came in at $435,549, reporting no change from the previous month, but reflected an overall increase of 12.2% compared to December 2023. Detached homes averaged $540,232, with no change from November 2024, and coming in 10.6% higher than the previous year. Apartment Condominium average prices rose 1.8% from

to see shifts occurring in the market in the second half of the year as supply levels started to improve for higher priced homes.” As of December, there were 2,989 units available in inventory, still below long-term trends for the month but a significant improvement over the lower levels reported last December and levels reported early this year. Improved rental choice and significant gains in new home activity helped boost new listings in the resale market, driving higher inventories in the year’s second half. Statistics reflect market activity in December 2024 | Source: CREB ® Calgary Real Estate Board. Market values stated are of the benchmark of the city of Calgary. 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. November 2024 to $203,920, ending the month of December 19.8% higher than the previous year. “It’s no surprise that we saw a decrease in the number of total residential new listings and unit sales month-over-month,” says REALTORS ® Association of Edmonton 2024 Board Chair Melanie Boles. “Despite this typical cooling off period of the market, we’re still feeling encouraged about the year ahead as average prices and unit sales were still ahead from this time last year.” Overall, all residential listings averaged 44 days on the market. Statistics reflect market activity in December 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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