The Edmonton real estate market started the year strong, showing significant activity in both unit sales and new listings. Here’s a detailed breakdown of this week’s statistics:

Market Highlights

Unit Sales Surge by 43%

This week saw 327 properties change hands in Edmonton, a 43% increase compared to last week. This uptick in sales activity suggests a busy January, with buyers taking advantage of the fresh inventory hitting the market.

New Listings on the Rise

There were 543 new listings added to the market, marking a 29% increase from the previous week. With more options available, buyers are finding increased opportunities to explore homes that fit their needs and budgets.

Average and Median Prices Dip Slightly

The average property price this week was $420,000, reflecting a 4% decrease from last week’s figures. Similarly, the median price settled at $411,000, also down by 4%. These modest declines might indicate an adjustment in pricing as the market continues to stabilize after the holiday season.

What Does This Mean for Buyers and Sellers?

• For Buyers: The increase in inventory gives you more choices, and the slight decrease in prices could be an opportunity to enter the market. Work with your Realtor to explore the latest options and negotiate effectively.

• For Sellers: With sales activity on the rise, this could be a great time to list your property. Ensure your home stands out by pricing it competitively and showcasing its unique features.

As we move further into January, it will be interesting to see if these trends continue. Stay tuned for next week’s update for more insights into the Edmonton real estate market.

All statistics are sourced from the Realtors Association of Alberta.

As we step into the new year, the Edmonton real estate market has shown impressive momentum after the holiday season slowdown. Activity in the market is picking up significantly, with notable increases across key areas. Here’s a deeper look into the market statistics for the week ending January 8, 2025:

Unit Sales: This week, Edmonton saw 229 unit sales, marking a significant 49% increase from the previous week. The holiday period tends to cause a dip in transactions as many buyers and sellers take a break from the market to focus on family and festivities. However, with the return to work and the post-holiday rush, this increase is a positive sign of renewed market activity. As people return from holiday vacations and get back to their home-buying plans, the market begins to see a natural rebound in sales.

New Listings: New listings surged to 421, a remarkable 240% increase from the week prior. This huge jump is reflective of the seasonal ebb and flow in real estate activity. After the holiday lull, many sellers are once again ready to list their properties, eager to get a head start in the new year. It’s common to see such a significant uptick in new listings once the holidays are over, as sellers who waited to list during the festive season are now making their properties available to the market.

Price Trends: The average price for homes in Edmonton has risen to $436,000, marking an 8% increase from last week. The median price is now $430,000, a 7% increase from the previous week. These price increases can largely be attributed to the increased market activity following the holidays. As more listings come on the market, and as both buyers and sellers return to their real estate plans, there’s typically upward pressure on prices as demand meets supply.

The increase in prices reflects an ongoing trend that’s typical for this time of year as the market reawakens. Buyers who had been waiting for the right time to purchase are now acting on those plans, while sellers are looking to capitalize on renewed interest in the market.

Understanding the Holiday Impact: It’s important to keep in mind that the holidays often bring a temporary slowdown to the real estate market. Both buyers and sellers tend to take a break, which leads to a decrease in unit sales and new listings. The significant increases this week are therefore to be expected as the market adjusts back to normal after the seasonal dip.

The jump in unit sales and new listings, combined with rising prices, is a typical pattern we often see as the market shakes off the holiday lull and activity picks up again. These statistics provide a promising outlook for the start of the year as the Edmonton market begins 2025 with a clear momentum.

Looking Ahead: As we move forward into the first quarter of the year, it will be interesting to watch how these trends continue. Buyers and sellers are likely to remain active, and it’s expected that the market will continue to show signs of growth as the winter season fades and we head into spring. The coming weeks will reveal whether these upward trends in price and activity will sustain through the next phase of the market.

Source: Statistics provided by the Realtors Association of Alberta.

Stay tuned for more updates as we continue to track Edmonton’s real estate market trends throughout the year!

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.