Craig Pilgrim's Home Trends

For sale and SOLD are not the same. Edmonton’s Housing Supply Tightens as Number of Sales Sees Late Summer Rebound

AVG. SALE PRICE Detached $552,031

AVG. SALE PRICE Apt. Condo $204,315

ACTIVE LISTINGS 5,866

DAYS ON MARKET 33

Edmonton, August 2, 2024: There were a total of 2,941 residential unit sales in the Greater Edmonton Area (GEA) real estate market during July 2024. New residential listings amounted to 3,729. Total residential average prices came in at $440,466, a 0.4% increase from June 2024. Detached homes averaged $552,031, increasing 2.3% from June 2024. Semi-detached units sold for an average of $406,906, decreasing 3.6% from the previous month. Row/townhouse prices rose 0.7% from June 2024, selling at an average of $292,072. Apartment Condominium average prices hit $204,315, decreasing 3.4% over last month. “July’s heatwave didn’t stop home buyers from making the most of the market this month.” says REALTORS® Association of Edmonton 2024 Board Chair Melanie Boles. “The number of sales saw an unexpected bump considering things normally start to taper off after May and June have passed, while the added competition doesn’t seem to have impacted home prices just yet. The lower inventory available is something to keep an eye on, as we’ve seen the

effects too little supply has had on prices in other markets.” Overall, all residential listings averaged 30 days on the market.

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.

CLICK FOR FULL REPORT

Or Call With Your Real Estate Market Questions

780.914.6494 | cpilgrim@cominghome.ca