In September 2024, the Greater Edmonton Area (GEA) real estate market saw 2,256 residential unit sales, a 12.6% decrease from August. New residential listings totalled 3,215, down 4.6% from the previous month, while overall inventory fell 1.7%.
Detached homes recorded 1,299 sales, an 11.1% decrease from August. The average price for detached homes was $552,684, up 1.3% from the previous month. These homes averaged 37 days on the market, an increase of two days from August.
Semi-detached homes saw a 15.8% decline in sales from August, with an average price of $413,252, down 0.3%. The average time on the market they remained unchanged at 30 days.
Row/townhouses experienced a 15.4% drop in sales compared to August. The average selling price was $292,875, a 0.7% increase from the previous month. Row/townhouses averaged 36 days on the market, six more than in August.
Apartment condominiums had a 12.6% decline in sales month-over-month. The average price was $199,564, down 2.3% from August. Apartment condos averaged 48 days on the market, seven days longer than the previous month.
The MLS® Home Price Index (HPI) composite benchmark price for the GEA was $406,400, a 0.2% decrease from August 2024.
Need more information as to what this means for you? Reach out to us today - we look forward to hearing from you.
Cited: Realtors Association of Edmonton (2024, October 2). Monthly Market Statistics Update. Realtors of Edmonton. Retrieved October 3, 2024, from https://realtorsofedmonton.com/stat-type/monthly-market-statistics/
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