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.
