As the summer season draws to a close, the Edmonton real estate market continues to show dynamic shifts. Here’s a breakdown of the latest statistics for the week ending August 28, 2024:

Unit Sales

This past week, Edmonton saw a total of 589 unit sales, which represents a 7% decrease from the previous week. While this dip may seem significant, it’s important to note that seasonal fluctuations are typical as we approach the end of summer. Fewer sales may also indicate a natural slowing down after the busy summer months, providing a moment for buyers and sellers to recalibrate their strategies.

New Listings

The market had 759 new listings this week, a slight 1% decrease from last week. This marginal reduction suggests that while sellers are still actively listing properties, they are doing so at a slightly slower pace. This could be due to a variety of factors, including the upcoming back-to-school season or sellers waiting to see how the market develops over the next few weeks.

Average and Median Prices

Despite the decrease in both unit sales and new listings, property prices in Edmonton have seen a notable increase this week. The average price of a home rose to $447,000, marking an 8% increase from the previous week. Similarly, the median price climbed to $421,000, reflecting a 4% increase.

These upward trends in average and median prices suggest that while fewer homes are being sold, the ones that are selling may be higher-priced properties, indicating a potential shift in buyer preferences or a strengthening market for higher-end homes. It also reflects the resilience of Edmonton’s real estate market, where property values remain robust even amid fluctuating sales volumes.

Looking Ahead

As we move into the fall, it will be interesting to observe how these trends evolve. Will the market stabilize, or will we continue to see significant fluctuations in both sales and prices? For now, Edmonton's real estate market appears to be maintaining its momentum, even as some indicators show a cooling-off period.

### Conclusion

Whether you’re buying, selling, or just keeping an eye on the market, staying informed about the latest trends and statistics is crucial. As always, working with a knowledgeable realtor who understands the nuances of the market can provide valuable insights and guidance tailored to your unique situation.

The statistics provided in this post are sourced from the Realtors Association of Alberta.

Feel free to reach out if you have any questions or need more information about the current market conditions!

As we approach the end of August, the Edmonton real estate market has shown some intriguing shifts. Here's a breakdown of the latest statistics and what they might mean for buyers, sellers, and investors.

Unit Sales on the Rise

This week, we saw a total of 632 unit sales across Edmonton, marking an 8% increase compared to last week. This uptick suggests a strong demand in the market, likely driven by buyers eager to secure properties before the fall season. Whether you're looking to buy or sell, this momentum in sales is a positive indicator of the market's vitality.

New Listings Decline

On the other side of the spectrum, the number of new listings has dropped significantly. With 767 new listings this week, we’re seeing a 14% decrease from the previous week. This decline could signal tightening inventory, which might create more competition among buyers. For sellers, this could be an opportune moment to list, as fewer listings could mean less competition and potentially faster sales.

Price Adjustments

In terms of pricing, the average price of homes in Edmonton this week is $416,000, reflecting a 4% decrease from last week. The median price also saw a slight drop, now standing at $405,000, down 2% from the previous week. These adjustments may indicate a cooling in the market, possibly due to the seasonal shift or changing buyer sentiment. For those in the market to buy, this could present an opportunity to negotiate a better deal, while sellers might need to be more strategic in their pricing.

In summary, the Edmonton real estate market is experiencing some interesting changes as we head towards the end of summer. With sales up, listings down, and prices slightly adjusting, it's essential to stay informed and strategize accordingly, whether you're buying, selling, or investing.

*All statistics are sourced from the Realtors Association of Alberta.*

The Edmonton real estate market continues to evolve as we enter the latter part of summer. The latest statistics for the week ending August 7, 2024, highlight some interesting trends that both buyers and sellers should take note of.

Weekly unit sales in Edmonton saw a slight decline, with a total of 582 units sold, representing a 6% decrease from the previous week. While this dip may raise concerns, it's important to consider the broader context. Fluctuations in weekly sales are common, especially as we move through the summer months when market activity can vary.

New listings also experienced a small decrease this week, with 793 new properties coming onto the market, down by 1% from the previous week. This minor drop suggests that while the market is slightly cooling, there is still a steady flow of new inventory for buyers to consider.

On the pricing front, the average home price in Edmonton rose to $448,000, marking a 3% increase from last week. The median price also saw a rise, reaching $416,000, which is up 2% from the previous week. These price increases indicate a continued demand for properties in Edmonton, potentially driven by a competitive market environment.

Overall, while the number of sales and new listings saw slight declines, the upward trend in prices suggests that Edmonton's real estate market remains robust. Buyers should be prepared for potential price increases, and sellers can take advantage of the current market conditions.

*These statistics are sourced from the Realtors Association of Alberta.*

As summer continues, the Edmonton real estate market is showing some intriguing trends. Here's a snapshot of the latest statistics:

Unit Sales

This week saw 662 unit sales, representing a modest 1% decline from last week. While a slight dip, this number still indicates a healthy level of activity in the market. Buyers are out there, exploring options and closing deals.

New Listings

New listings totaled 858, a 7% decrease from the previous week. This drop suggests that sellers may be taking a pause, perhaps waiting for the right moment to list their properties. It also hints at a potential tightening of inventory, which could influence future market dynamics.

Average Price

The average price of homes in Edmonton remained steady at $438,000, unchanged from last week. This stability is a positive sign, reflecting a balanced market where neither buyers nor sellers have a distinct advantage.

Median Price

The median price dipped slightly by 1% to $408,000. This small decrease might indicate a shift towards more mid-range properties being sold, or minor adjustments in buyer preferences.

In summary, while there are some slight decreases in sales and new listings, the overall market remains stable. Both buyers and sellers continue to engage actively, making it an interesting time for anyone involved in Edmonton real estate.

These statistics are sourced from the Realtors Association of Alberta.