Home Trends from Indy Khosah

Indy Khosah

Numbers Give Clear Indication That Spring Market Has Begun

AVG. SALE PRICE Detached $517,3131

AVG. SALE PRICE Apt. Condo $194,101

ACTIVE LISTINGS 5,320

DAYS ON MARKET 39

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. 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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