As we bid farewell to February, the real estate market in Edmonton continues to display resilience and activity. Let's dive into the weekly statistics provided by the Realtors Association of Alberta, offering insights into the trends shaping the local market.
Unit Sales
The week ending February 28th, 2024, saw a notable surge in unit sales, with a total of 525 properties changing hands. This represents a remarkable 10% increase from the previous week, indicating robust buyer activity and perhaps a growing confidence in the market among prospective homeowners.
New Listings
In tandem with the increase in unit sales, the number of new listings also saw a modest uptick. A total of 667 new properties were listed on the market, marking a 3% increase compared to the previous week. This influx of new listings suggests that sellers are actively engaging with the market, possibly encouraged by favorable conditions.
Average Price
One of the most closely watched metrics, the average price of properties in Edmonton, experienced a healthy appreciation. The average price rose to $414,000, reflecting a 3% increase from the previous week. This upward trajectory in prices underscores the ongoing demand for real estate in the region and the value proposition it presents to buyers.
Median Price
Similarly, the median price of properties in Edmonton also saw a modest increase. With a median price of $400,000, there was a 1% uptick compared to the previous week. This indicates that while there is overall appreciation in property values, there is also a diverse range of options available to buyers across different price points.
In Summary
The weekly real estate statistics for Edmonton ending February 28th, 2024, paint a picture of a dynamic and resilient market. With increases in unit sales, new listings, average and median prices, the market appears to be on solid footing. Buyers continue to actively engage, and sellers are responding to this demand, resulting in a healthy balance between supply and demand.
Stay tuned for more updates as we continue to monitor the pulse of the Edmonton real estate market.
*It's important to note that these statistics are provided by the Realtors Association of Alberta and are subject to change as the market evolves. Additionally, individual property prices and market conditions may vary based on factors such as location, property type, and other variables.
For the most accurate and up-to-date information regarding real estate in Edmonton, it's always advisable to consult with a licensed real estate professional who can provide tailored insights and guidance based on your specific needs and circumstances.*
