As we wrap up the week of October 23, 2024, the Edmonton real estate market continues to show steady activity, with some interesting changes in sales and pricing.
Sales Activity:
This week, 539 properties were sold across Edmonton, representing a 1% increase compared to the previous week. This uptick in sales demonstrates continued demand, even as we head into the later months of the year, traditionally a slower time for real estate.
New Listings:
There were 649 new listings added to the market, holding steady from the previous week with a 0% change. This stable flow of new inventory offers buyers a wide selection of homes to choose from, keeping the market balanced despite the small fluctuation in sales.
Average & Median Prices:
The average sale price for homes this week came in at $426,000, which reflects a 2% decrease compared to the prior week. Similarly, the median sale price remained at $410,000, with a 0% change. These small shifts in pricing may indicate sellers becoming more competitive or adjusting to current market conditions as buyer preferences evolve.
As we continue to monitor the Edmonton market, these metrics suggest a relatively balanced environment, with consistent sales and stable inventory levels. However, the slight drop in average prices might provide opportunities for buyers to negotiate more favorable deals in the coming weeks.
The statistics mentioned in this article are sourced from the Realtors Association of Alberta.
