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Edmonton Real Estate Weekly Market Snapshot: Week Ending September 25, 2024

As we step into the final weeks of September, let’s take a closer look at the latest real estate statistics in Edmonton. This past week, the market has shown some interesting dynamics, reflecting a balanced landscape between buyers and sellers.

Unit Sales Remain Steady

For the week ending September 25, 2024, there were 571 unit sales across Edmonton. This figure remains consistent with the previous week, showing a 0% change. Despite the usual fluctuations we see throughout the year, the steadiness in sales is an encouraging sign for a stable market. Buyers and sellers seem to be finding common ground, and confidence in Edmonton’s housing market remains intact.

New Listings Experience a Decline

A notable shift this week is the drop in new listings. With 750 new properties hitting the market, we’re seeing a 10% decrease compared to the previous week. This reduction in new listings could mean less competition for current sellers, potentially creating more urgency among buyers to make quicker decisions. It’s also a signal that inventory may be tightening, which could have implications for price trends moving forward.

Prices on the Rise

The average price for properties in Edmonton this week climbed to $449,000, marking a 4% increase from the previous week. Meanwhile, the median price saw a smaller yet significant increase of 1%, reaching $420,000. These price hikes suggest growing demand amidst a declining supply of listings, a typical scenario that tends to push prices upward. For homeowners considering selling, this might be an opportune time to list, as the market conditions are trending favorably.

What Does This Mean for You?

For potential buyers, the steadiness in unit sales combined with increasing prices indicates that the market remains competitive. While fewer listings might make finding the perfect home a bit more challenging, staying informed and acting quickly when a property fits your needs can be key.

For sellers, fewer listings and rising prices can present an excellent opportunity to sell at a favorable price. If you’ve been contemplating putting your property on the market, these conditions could lead to quicker sales and more attractive offers.

As always, having a knowledgeable real estate professional by your side can make all the difference, whether you’re buying or selling in today’s evolving market.

Statistics provided by the Realtors Association of Alberta.

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New property listed in Zone 14, Edmonton

I have listed a new property at 28 5873 MULLEN PL in Edmonton. See details here

RAVINE BACKING END UNIT 3 Bed 4 Bath Townhome w/ Double Attached Garage! This FULLY FINISHED home has an open concept main floor, WALKOUT BASEMENT & is in the BEST LOCATION, close to all amenities, restaurants, schools & walking trails. The main floor has HUGE SOUTH FACING windows & plenty of space for entertaining. The chef in the family will love the open concept kitchen w/ a large eating bar, stainless appliances, a corner pantry & direct access to the spacious rear deck that overlooks the ravine & trees. Upstairs, the primary suite OVERLOOKS THE RAVINE & has its own walk in closet & ensuite w/ separate shower & soaker tub. Also upstairs are 2 more large bedrooms, the laundry & main bath. The fully finished basement has a large family room/flex space & half bath. You’ll also find direct access to the covered walkout deck plus access to the double attached garage. Well managed complex in a great location!

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Edmonton Real Estate Market Update: Week Ending September 19, 2024

As we move deeper into September, the Edmonton real estate market continues to show resilience, with some promising signs for both buyers and sellers. Here’s a look at how the numbers stack up for the week ending September 19, 2024.

Weekly Sales Up by 2%

This past week, Edmonton saw 569 unit sales, marking a 2% increase compared to the previous week. This uptick indicates continued buyer interest, despite cooling market conditions in some segments. The increase in sales suggests that well-priced homes are moving, making this a favorable environment for sellers who are prepared to price their properties competitively.

New Listings Down by 5%

On the supply side, there were 835 new listings, representing a 5% decrease from the previous week. A lower number of listings could create more competition among buyers, as fewer properties hit the market. For potential sellers, this presents an opportunity to stand out in a slightly less crowded marketplace.

Average and Median Prices Dip

The average price of homes in Edmonton now sits at $432,000, showing a 1% decline from last week. Similarly, the median price is down by 1%, landing at $415,000. These slight dips in price can be advantageous for buyers looking to negotiate a good deal, especially as inventory remains relatively high.

What This Means for You

If you’re thinking of buying, now could be a great time to explore the market while prices remain steady. For sellers, despite the slight drop in pricing, the increase in sales activity shows that motivated buyers are still actively searching for homes, making it critical to price your property right.

The Edmonton market continues to evolve, but the current trends suggest a stable environment for both buyers and sellers.

Statistics provided by the Realtors Association of Alberta.

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Open House. Open House on Sunday, September 22, 2024 12:00PM - 2:00PM

Please visit our Open House at 11402 90 ST in Edmonton. See details here

Open House on Sunday, September 22, 2024 12:00PM - 2:00PM

Investor & First Time Buyers take note! Tired of renting? Looking for a place to call your own? Or interested in a solid investment that will cash flow with ease? This duplex features 2 primary suites with full bathrooms, a spacious open concept main floor, dual yards & a single garage. With easy access to amenities, transit & downtown, this location is very convenient. The main floor will great you with neutral, modern freshly painted tones & you’ll find a spacious great room with built in shelves & a luxurious fireplace. The dining area has a modern light fixture & is next to the eating bar that has space for stools, a great space to enjoy your morning coffee! The kitchen features quartz countertops, stainless steel appliances & modern white cabinets. The main floor also has the ½ bath. Heading upstairs you’ll see the upgraded railing and freshly steam cleaned carpets. The dual primary suites are both spacious with large windows & full ensuites & walk in closets. Welcome HOME!

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New property listed in Zone 05, Edmonton

I have listed a new property at 11402 90 ST in Edmonton. See details here

Investor & First Time Buyers take note! Tired of renting? Looking for a place to call your own? Or interested in a solid investment that will cash flow with ease? This duplex features 2 primary suites with full bathrooms, a spacious open concept main floor, dual yards & a single garage. With easy access to amenities, transit & downtown, this location is very convenient. The main floor will great you with neutral, modern freshly painted tones & you’ll find a spacious great room with built in shelves & a luxurious fireplace. The dining area has a modern light fixture & is next to the eating bar that has space for stools, a great space to enjoy your morning coffee! The kitchen features quartz countertops, stainless steel appliances & modern white cabinets. The main floor also has the ½ bath. Heading upstairs you’ll see the upgraded railing and freshly steam cleaned carpets. The dual primary suites are both spacious with large windows & full ensuites & walk in closets. Welcome HOME!

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New property listed in Zone 05, Edmonton

I have listed a new property at 9010-114 ST & 11402-90 ST in Edmonton. See details here

INVESTOR ALERT! Side x Side Duplex built in 2018! Each duplex features 2 primary suites with full bathrooms, a spacious open concept main floor, fenced yard & the garage (wall in middle between stalls). With easy access to amenities, transit & downtown, this location is very convenient. The main floor will great you with neutral, modern freshly painted tones & you’ll find a spacious great room with built in shelves & a luxurious fireplace. The dining area has a modern light fixture & is next to the eating bar that has space for stools, a great space to enjoy your morning coffee! The kitchen features quartz countertops, stainless steel appliances & modern white cabinets. Upstairs are 2 primary suites with their own ensuites – great to rent to roommates! Easy to rent and cash flow with future equity building for basement development.

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Weekly Real Estate Market Update for Edmonton – Week Ending August 28, 2024

The Edmonton real estate market continues to show dynamic activity as we head into the final days of summer. For the week ending August 28, 2024, there has been a noticeable increase in both unit sales and new listings, highlighting a robust and competitive market for buyers and sellers alike.

Unit Sales Surge by 10%

This week, a total of 558 units were sold, marking a 10% increase compared to last week’s sales. This uptick suggests that more buyers are making decisions and locking in their new homes before the fall season begins. Whether driven by seasonal trends or market conditions, the demand remains strong across Edmonton’s diverse neighborhoods.

New Listings Skyrocket by 30%

Sellers have also become more active, with 875 new listings hitting the market this week. This represents a significant 30% increase from the previous week, offering more options for potential buyers. With increased inventory, buyers have a greater variety to choose from, although competition among sellers may also intensify as more properties enter the market.

Price Trends: A Slight Dip in Averages, Stability in Median Price

The average home price in Edmonton this week is $436,000, a slight decrease of 2% from last week. On the other hand, the median price remains stable at $420,000, with a modest 0% increase. While the overall average price is slightly lower, the median suggests that typical homes are holding their value. This may indicate a balanced market where pricing adjustments are normalizing after a strong summer.

What to Expect in the Coming Weeks

With rising sales and an influx of new listings, buyers have more options but may need to act swiftly to secure the best deals. Sellers, on the other hand, may benefit from a fresh wave of interest, though competitive pricing will be key to standing out in a crowded market.

Source: All statistics are provided by the Realtors Association of Alberta.

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