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Edmonton Weekly Real Estate Market Update: Week Ending October 16, 2024

As we move further into October, Edmonton’s real estate market continues to show signs of adjustment. Here’s a quick breakdown of this week’s key figures:

Sales Activity

A total of 534 units were sold this past week, reflecting a 3% decrease compared to last week’s figures. While this decline may indicate a slight cooling off, it's worth noting that this level of activity is still relatively steady for this time of year.

New Listings

There were 649 new listings introduced to the market this week, which represents a 15% drop compared to the previous week. This reduction in new inventory could suggest that sellers are holding back, potentially waiting for more favorable market conditions or better pricing opportunities.

Average and Median Prices

- The average home price in Edmonton now sits at $435,000, marking a 5% decline from last week’s average.

- The median home price is currently $408,000, showing a 7% drop from last week.

These downward trends in pricing might be a response to the softer demand and a shifting balance in the market. Buyers could find this an opportune time to explore options, while sellers may need to adjust their strategies to stay competitive.

All statistics are provided by the Realtors Association of Alberta.

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Edmonton Real Estate Weekly Statistics – Week Ending October 9, 2024

As we move further into the fall season, Edmonton's real estate market continues to showcase steady activity. For the week ending October 9, 2024, we saw a relatively balanced performance with slight upward trends in both listing volume and property prices. Here’s a breakdown of the key statistics from the past week:

- Unit Sales: 548 properties were sold, marking no change from the previous week. This indicates a sustained demand for housing, as buyers remain active despite the approaching cooler months.

- New Listings: 767 new properties hit the market, reflecting a 5% increase compared to the previous week. This rise in listings provides more options for potential buyers, contributing to a dynamic and competitive marketplace.

- Average Price: The average price of a home in Edmonton is now $457,000, showing a 3% increase from last week. This gradual rise in prices is a sign of healthy appreciation as the market maintains a strong footing.

- Median Price: The median price has climbed to $438,000, which is up by 5% from the previous week. The growing median price suggests that homes in the mid-range bracket are becoming more valuable, as buyer competition remains high.

With the fall market in full swing, both buyers and sellers are seeing continued opportunities. The increase in new listings offers fresh inventory, while steady sales and rising prices indicate a resilient market. Whether you’re looking to buy, sell, or simply keep an eye on the trends, Edmonton’s real estate sector remains active and full of potential.

Data provided by the Realtors Association of Alberta.

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New property listed in Zone 12, Edmonton

I have listed a new property at 1403 9918 101 ST in Edmonton. See details here

First time buyers & investor alert! Welcome to Renaissance Place! Well known for it’s location steps to Downtown & the River Valley + stunning views! This 1 bed + DEN 1 bath condo features WEST FACING VIEWS on the MASSIVE oversized COVERED balcony. Upgraded over time you’ll find laminate floors, soothing modern paint tones & a large great room with plenty of space to entertain & unwind. There is easily enough space for a 6 person table + a large family room space. The kitchen features maple cabinets & updated countertops & appliances. The bedroom is large with direct access to the patio & a spacious closet. The main bath features a soaker tub & additional storage. The den/flex space also features the same laminate floors. Underground secure parking stall included. This building has TONS OF AMENITIES – pool, hot tub, sauna, pool table & gym + on site management. Flexible possession & move in ready!

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New property listed in Rural Westlock County, Rural Westlock County

I have listed a new property at 26325 TWP Rd 632 in Rural Westlock County. See details here

17.92 acres of serenity are calling your name! This gorgeous property features an updated home, attached garage, shop, shed/workshop, a chicken/duck coop & plenty of space for YOU. The home features a gorgeous bright white kitchen with updated appliances, modern lighting & an island w/ eating bar. The dining area has room for a large 8 person table & opens onto the great room where you’ll find large windows & rustic laminate floors. The primary suite has its own ensuite with a stunning tiled shower, dual sinks & a walk in closet. There are two other spacious bedrooms on the main floor & the renovated main bath. Completing this level is the laundry room & direct access to the attached garage w/ 12’ OH door. The basement features 5 bedrooms (easy to remove walls to open up a large family room) & another full bath. The shop has 220 power, water & is 35’6”Dx31’W. Trails lead through the trees to a creek that runs along the rear. Less than 5min of gravel road to the home. Flexible possession

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New property listed in Zone 08, Edmonton

I have listed a new property at 3 11913 103 ST in Edmonton. See details here

Turnkey, spacious & move in ready + great neighbours! First Time Buyer or Investor Alert! 2 bed 2 bath condo in centrally located in Westwood! Freshly painted in neutral tones, cleaned & ready for YOU! This multi-level condo is like a townhouse within the building. Located on the top 2 levels, with the main floor showcasing an open concept great room, kitchen & ½ bath. Are you a plant & sun lover? The large WEST FACING balcony is an amazing extension of the home where you’ll get tons of natural light from the windows facing both West and South. Gorgeous laminate floors flow throughout the main level, with carpet upstairs & ceramic tile in the bathrooms. The 2nd level has 2 bedrooms, the full bath w/ tub & the laundry. All appliances are included. There is also a parking stall included at the rear of the building. This condo is 1 block from NAIT, and close to LRT, Kingsway Mall and Yellowhead Trail. Move in soon & settle into your new HOME!

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New property listed in Zone 05, Edmonton

I have listed a new property at 9010 114 AVE 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, fenced yard & 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 cabinets. The main floor also has the ½ bath. Heading upstairs you’ll see the upgraded railing. The dual primary suites are both spacious with large windows & full ensuites & walk in closets. Welcome HOME!

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Data is deemed reliable but is not guaranteed accurate by the REALTORS® Association of Edmonton.
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