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Weekly Real Estate Update: Edmonton Market Statistics Ending October 30, 2024

Weekly Real Estate Update: Edmonton Market Statistics Ending October 30, 2024

As we near the end of October, Edmonton's real estate market shows both stability and signs of movement. Here’s a look at the latest trends based on sales, new listings, and pricing shifts in the past week.

Sales Volume Slightly Down

This week, Edmonton recorded 529 unit sales, which marks a slight 2% decrease from the previous week. While a minor dip in sales volume can be expected at this time of year, the market continues to display robust activity, reflecting steady interest from both buyers and sellers.

New Listings Drop

A total of 609 new listings were added to the market over the past week, representing a 6% decrease compared to the previous week. The gradual reduction in listings could signal a shift towards a more competitive environment as we move deeper into the fall season. Buyers may feel a greater sense of urgency as choices narrow, while sellers may find this a favorable time to list with reduced competition.

Price Increases Across the Board

Pricing saw a noticeable upswing this week. The average price for properties in Edmonton reached $446,000, a 5% increase from the previous week. The median price also saw an uptick, climbing to $425,000, up by 4%. These price hikes indicate sustained demand, which has supported stronger pricing even as the total number of transactions dipped slightly.

Summary

- Total Sales: 529 units, down 2% from last week

- New Listings: 609, down 6% from last week

- Average Price: $446,000, up 5% from last week

- Median Price: $425,000, up 4% from last week

As we monitor these numbers moving forward, it will be interesting to see if this trend of rising prices with reduced listings holds. Edmonton’s market remains dynamic, with evolving opportunities for both buyers and sellers alike.

All statistics are sourced from the Realtors Association of Alberta.

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Data is deemed reliable but is not guaranteed accurate by the REALTORS® Association of Edmonton.
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