Home Trends from Cynthia Harris

CYNTHIA HARRIS

CENTURY 21 All Stars Realty Ltd.

Housing Market Activity, Prices Continue To Climb in 2024

AVG. SALE PRICE Detached $546,390

AVG. SALE PRICE Apt. Condo $206,591

ACTIVE LISTINGS 5,841

DAYS ON MARKET 33

Edmonton, June 4, 2024: There were a total of 3,220 residential unit sales in the Greater Edmonton Area (GEA) real estate market during May 2024. New residential listings amounted to 4,325. Total residential average prices came in at $441,350, a 2.2% increase from April 2024. Detached homes averaged $546,390, increasing 3.0% from April 2024. Row/townhouse prices remained steady, showing no change from April 2024, selling at an average of $294,742. Apartment Condominium average prices hit $206,591, increasing 2.6% over last month. “We could be looking at the peak of our spring market right now, with 4,325 new listings having just hit the market,” says REALTORS® Association of Edmonton 2024 Board Chair Melanie Boles. “It also appears that current interest rates haven’t put a dent in buying activity this year, with more than 500 additional sales closing this month compared to May 2023. We could potentially be in for an even busier June, as the next Bank of Canada interest rate announcement on June 5th might spark more activity in the market.” Overall, all residential listings averaged 33 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.

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