Krista Galenzoski's Home Trends

KRISTA GALENZOSKI

Predictable real estate patterns unaffected by interest rate changes.

AVG. SALE PRICE Detached $552,684

AVG. SALE PRICE Apt. Condo $199,564

ACTIVE LISTINGS 5,701

DAYS ON MARKET 38

Edmonton, October 2, 2024: There were a total of 2,256 residential unit sales in the Greater Edmonton Area (GEA) real estate market during September 2024. New residential listings amounted to 3,215. The total number of Detached unit sales was 1,299, a decrease of 11.1% over the previous month but still 8.2% higher than the previous year. Row/Townhouse unit sales decreased by 15.4% compared to August 2024 and sold 25.9% more than September 2023. Apartment Condominium unit sales were still 2.2% higher than the previous year but were down 12.6% from August 2024. Total residential average prices came in at $440,366, an 11.7% increase from September 2023. Detached homes averaged $552,684, up from the previous year by 11.9%. Row/townhouse prices rose 9.6% higher than September 2023 with an average selling price of $292,875. Apartment Condominium average prices 9.6% higher than the previous year. “As the nights get longer, so do the days on market in real estate,” says REALTORS® Association of Edmonton 2024 Board Chair Melanie Boles. “Not even cuts to interest rates can keep our market going at the hectic pace it’s been at this summer. We’re now seeing the usual slowdown, but also the continuation of elevation in home prices due to competition over lower inventory.” Overall, all residential listings averaged 38 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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780-231-6420 | Krista@KGRealty.ca