Edmonton Real Estate Statistics – June 2024

The Edmonton real estate statistics in have seen significant changes throughout 2024. With a blend of rising property values, increased sales volume, and evolving market dynamics, it’s an exciting time for both buyers and sellers. Let’s delve into the detailed statistics and trends shaping the Edmonton real estate landscape.

Below Graphs Are Interactive.

Edmonton New MLS® Listings

The market has also experienced a healthy influx of new listings:

• June 2024: There were 2.76K new listings.
• YTD 2024: The total number of new listings has reached 15.2K.

This increase in listings provides more options for buyers and indicates that sellers are eager to capitalize on the rising prices.

Average List Price Edmonton Real Estate Market

The average asking prices have also seen upward movement:

• June 2024: The average asking price was $413K, which represents a 6.39% increase from June 2023.
• YTD 2024: The average asking price is $404K, a 7.16% rise from the previous year.

Home Sales In The Edmonton Real Estate Market

In 2024, the number of sold properties in Edmonton has shown remarkable growth.

• June 2024: There were 1.97K sold properties, a 10.06% increase compared to June 2023.
• Year-to-Date (YTD) 2024: There have been 10.7K sold properties, a 34.16% increase from the 7.96K properties sold by this time in 2023.

This surge in sales volume indicates a strong demand in the market, reflecting both the appeal of Edmonton as a residential hub and favourable market conditions.

Edmonton Average Home Sale Price 

Sale prices have consistently increased, reflecting a competitive market:

• June 2024: The average sale price was $413K, up 6.39% from June 2023.
• YTD 2024: The average sale price was $404K, marking a 7.16% increase from 2023.

These statistics suggest that buyers are willing to pay more for properties, likely due to increased demand and perhaps a perception of rising future values.

The average ask to sell ratio has remained stable, slightly improving:

• YTD 2024: The ratio was 0.994, a 2.01% increase from the previous year.

This ratio suggests that most properties are selling close to their asking prices, indicating strong buyer interest and fair pricing strategies by sellers.

The monthly sales price trends provide further insights into the market dynamics:

• June 2024: The average sales price was $413K.
• January to June 2024: The average sales prices were as follows:
  • January: $376K
  • February: $378K
  • March: $381K
  • April: $346K
  • May: $411K

These figures illustrate a steady increase in prices, with a notable spike in May.

Edmonton Real Estate Market -Average Days 

The average days on the market until sale have fluctuated, showcasing market efficiency:

• YTD 2024: Properties were on the market for an average of 42 days, a decrease of 34.38% compared to the previous period.

Fewer days on the market generally indicate a seller’s market, where properties are sold quickly due to high demand.

Edmonton’s real estate market is thriving, characterized by high demand, rising prices, and quick sales. For potential buyers and investors, this market presents opportunities for growth and value appreciation. For sellers, the current conditions offer an advantageous time to list properties, with a strong likelihood of achieving desired prices in a timely manner.

The Edmonton real estate market in 2024 is marked by positive trends and robust activity. With continued demand and a favourable economic environment, the market is poised for sustained growth. Whether you’re looking to buy, sell, or invest, staying informed about these trends is crucial for making strategic decisions in this dynamic market.

Looking to buy or sell in Edmonton? CONTACT CHRIS REID

City of Edmonton Website