December 2024 Edmonton Real Estate Market Statistics

Edmonton Real Estate Market Update – December 2024

In December 2024 Edmonton real estate market continues to show positive growth. December has been a particularly noteworthy month, marking significant increases in key metrics like average sale price, number of sold properties, and market activity compared to the previous year. Here’s a breakdown of the latest trends and data that are shaping the local real estate market.

Below Graphs Are Interactive.

Edmonton New MLS® Listings

The overall market activity in Edmonton remains strong with new listings also on the rise. There were 1,110 new listings in December 2024, a 1.75% increase from the previous year. With the steady flow of new properties entering the market, buyers have a variety of options to consider, while sellers can expect relatively quick sales in the current market environment.

Average List Price Edmonton Real Estate Market

The average asking price for properties in Edmonton saw a positive change, with a 4.91% increase compared to last year, reaching $464,000 in December. The year-to-date increase was even higher at 8.22%, demonstrating that sellers are confident in the market conditions and are setting higher prices for their homes.

This increase in asking prices is largely due to continued demand and a competitive market. However, despite the higher asking prices, buyers are still motivated to secure properties, leading to healthy sales activity.

Home Sales In The Edmonton Real Estate Market

In December 2024, Edmonton saw a notable rise in the number of properties sold, with 1,130 properties changing hands. This is a 25.14% increase from December 2023, reflecting a continued strong demand for homes in the region. The overall number of properties sold for the year is also impressive, with a 26.73% increase compared to the same period in 2023, bringing the total to 20,400 sold properties.

This surge in sales is a clear indicator that the market remains active, even in the typically slower months of the year. With the increase in the number of sales, buyers and sellers are finding opportunities to make moves in Edmonton’s dynamic real estate market.

Edmonton Average Home Sale Price 

Price growth is another key highlight of the December 2024 real estate market. The average sale price in December reached $419,000, marking a 13.19% increase from December 2023. Over the course of the year, the average sale price has climbed 8.88% year-over-year, from $376,000 to $410,000 for the year to date.

The steady rise in prices reflects the strength of Edmonton’s market. Demand is outpacing supply, which has led to upward pressure on home values. Despite the price increases, Edmonton remains an attractive option for homebuyers, especially when compared to larger cities across Canada, where home prices are significantly higher.

Demand continues to outstrip supply in many areas, leading to competitive bidding in some neighbourhoods. This is reflected in the ask-to-sell ratio, which stands at 0.982 in December, indicating that homes are selling close to their asking prices, a sign of a healthy market with eager buyers.

Edmonton Real Estate Market -Average Days 

Another important trend is the decrease in the number of days properties are spending on the market. In December 2024, homes were selling faster, with an average of 70 days on the market, which represents a 13.58% decrease from last year. This reduction in the days on market is indicative of the high demand in Edmonton’s real estate market, as buyers are moving quickly to secure homes.

The average number of days on the market has decreased from 74 days last year, showing that sellers are able to attract buyers more quickly, further contributing to the overall strong market conditions.

The Year Ahead

Looking forward to 2025, the Edmonton real estate market is expected to maintain its positive momentum. Factors such as the city’s strong economy, growing job market, and continued demand for housing are likely to keep the market active.

For homebuyers, it’s important to stay informed about the changing dynamics of the market. While prices have been rising, the increase in inventory may provide more options for buyers as they begin their search in 2025. Sellers, on the other hand, can expect strong demand for their properties, especially if they price them competitively.

Conclusion

Edmonton’s real estate market in December 2024 is finishing the year on a strong note, with higher sale prices, increased sales, and fewer days on the market. These trends suggest that the city’s housing market remains resilient and poised for further growth in the coming months.

Whether you are looking to buy, sell, or invest in Edmonton real estate, now is a great time to take advantage of the market conditions. As we head into 2025, understanding these trends and working with a professional REALTOR® can help you make the best decisions for your real estate goals.

Looking to buy or sell in Edmonton? CONTACT CHRIS REID

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