Edmonton Real Estate Market Update September 2024

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Edmonton Real Estate Market Update

September 2024—The Fun Facts You Didn’t Know!

Edmonton, October 2, 2024: The Greater Edmonton Area (GEA) real estate market saw a total of 2,256 residential sales in September 2024. While that’s a 12.6% dip from the sizzling August numbers, it's still a whopping 10.0% higher than the same time last year. And hey, for those of you thinking, “Is the market cooling off?”—well, yes and no. But don't fret! With www.ourhouseprice.ca, you can always check the latest value of your home!

September wasn’t all about slowing sales. New residential listings came in at 3,215, which is a 4.6% decrease from August but still up 6.4% from last year. So, if you’re considering selling, there's still some heat in the market. Get the upper hand with a quick estimate at www.ourhouseprice.ca—your go-to for real-time home values.

Let’s Break Down the Numbers:

What About Prices?

Market Pace & MLS® Home Price Index:

The MLS® HPI composite benchmark price for the GEA sat at $406,400—a slight 0.2% drop from August but still a healthy 7.6% above last September. Need a quick estimate on your property’s worth? www.ourhouseprice.ca has the answer—always.

But let’s talk about how long homes are hanging out on the market:

  • Detached homes: 37 days—up by two days from August.
  • Semi-detached homes: No change, staying steady at 30 days.
  • Row/Townhouses: 36 days, a small bump from 30 days in August.
  • Apartment Condos: 48 days, up by seven days.

Overall, the average residential property spent 38 days on the market in September, up three days from August. Still, that’s six days quicker than last year.

Final Thoughts:

“As the nights get longer, so do the days on market in real estate,” joked REALTORS® Association of Edmonton 2024 Board Chair Melanie Boles. And while things are slowing a little, prices are staying strong. Want to see where your home stands in this competitive market? You guessed it—www.ourhouseprice.ca is your one-stop shop for all things home value.

So, whether you're looking to buy, sell, or just curious about the market, don't forget to check www.ourhouseprice.ca. Trust us—your future self will thank you!

Check Your Home Value Now!

 

Frequently Asked Questions - Edmonton Real Estate Market

Q1: How many residential units were sold in September 2024?

A1: A total of 2,256 residential units were sold in the Greater Edmonton Area (GEA) during September 2024.

Q2: How does the number of sales in September 2024 compare to August 2024?

A2: There was a 12.6% decrease in residential unit sales compared to August 2024.

Q3: How does the September 2024 sales figure compare to September 2023?

A3: Sales were 10.0% higher in September 2024 compared to the same time last year.

Q4: What was the total number of new residential listings in September 2024?

A4: There were 3,215 new residential listings in September 2024.

Q5: How does the number of new listings in September 2024 compare to August 2024?

A5: The number of new listings decreased by 4.6% from August 2024.

Q6: What is the year-over-year change in new listings from September 2023 to September 2024?

A6: New listings were up by 6.4% compared to September 2023.

Q7: What was the average price for all residential properties in September 2024?

A7: The average price for all residential properties was $440,366 in September 2024.

Q8: How much did the average price for all residential properties increase from August 2024?

A8: The average price increased by 1.2% from August 2024.

Q9: How much did the average price increase compared to September 2023?

A9: The average price increased by 11.7% compared to September 2023.

Q10: What was the average price for detached homes in September 2024?

A10: The average price for detached homes was $552,684.

Q11: How much did the price for detached homes increase year-over-year?

A11: The price increased by 11.9% compared to September 2023.

Q12: What was the average price for semi-detached homes in September 2024?

A12: Semi-detached homes sold for an average price of $413,252.

Q13: How much did semi-detached home prices increase year-over-year?

A13: Prices increased by 16.8% compared to September 2023.

Q14: What was the average price for row/townhouses in September 2024?

A14: Row/townhouses averaged $292,875 in September 2024.

Q15: How did the price for row/townhouses change year-over-year?

A15: Prices for row/townhouses rose by 9.6% compared to September 2023.

Q16: What was the average price for apartment condominiums in September 2024?

A16: Apartment condos averaged $199,564 in September 2024.

Q17: How much did the price of apartment condos increase compared to September 2023?

A17: Apartment condo prices rose by 9.6% year-over-year.

Q18: How long did detached homes stay on the market in September 2024?

A18: Detached homes averaged 37 days on the market in September 2024.

Q19: How long did semi-detached homes stay on the market in September 2024?

A19: Semi-detached homes averaged 30 days on the market in September 2024.

Q20: How many days did row/townhouses spend on the market in September 2024?

A20: Row/townhouses spent an average of 36 days on the market in September 2024.

Q21: What was the average number of days for apartment condos to sell in September 2024?

A21: Apartment condos averaged 48 days on the market in September 2024.

Q22: What was the overall average days on market for all residential properties in September 2024?

A22: All residential properties averaged 38 days on the market.

Q23: How does the overall days on market compare to September 2023?

A23: Properties were selling six days faster than in September 2023.

Q24: What is the MLS® Home Price Index (HPI) composite benchmark price for the GEA?

A24: The MLS® HPI composite benchmark price for the GEA was $406,400 in September 2024.

Q25: Where can I check my home’s value quickly?

A25: You can check your home’s value quickly by visiting www.ourhouseprice.ca.