As we wrapped up the final week of 2024, Edmonton's real estate market reflected the seasonal slowdown typical of the holiday period. With celebrations in full swing, both buyers and sellers seemed to take a step back, leading to significant drops across key metrics.

Sales and Listings at a Glance

• Unit Sales: There were 154 properties sold this week, marking a 57% decline compared to the previous week.

• New Listings: The market saw only 124 new properties listed, a 56% drop from last week's numbers.

Pricing Trends

• Average Price: The average home price was $410,000, showing an 8% decrease from last week.

• Median Price: The median price landed at $401,000, reflecting a 7% drop from the previous week.

Why the Slowdown?

The holiday season is historically a quieter time for the real estate market, and this year was no exception. Between family gatherings, travel, and end-of-year festivities, many buyers and sellers opted to pause their real estate activities. While the numbers may seem stark, this trend is expected and typically followed by renewed activity in the New Year.

Looking Ahead

With the holidays behind us, the Edmonton market will likely regain momentum as we head into January. If you’ve been waiting for the right moment to buy or sell, now could be a great time to explore your options as activity picks up.

This weekly market update is brought to you using data from the Realtors Association of Alberta.