Edmonton Real Estate Market update | APRIL 2024

The Edmonton real estate market is doing really well. In fact, sales volume in March was up 35% compared to March 2023. Although we're not back to where we were in March 2022, it's still a significant increase. Coupled with this, the inventory is lower, down 15% from last year. These are two significant numbers that translate to increasing prices across the board.

For single-family homes, the average residential selling price is up by 6.3% over March of last year. Semi-detached homes, such as duplexes, are up by 11.5%, and townhomes are up by almost 14%. Townhomes have become very popular and in demand among first-time buyers and those moving from other provinces. Unfortunately, apartment-style condos have only increased by half a percent since last year, but they are selling better, and we expect to see modest price increases in that segment of the market as well. We're seeing a lot of activity in the market, with multiple offers and showings on properties. However, some segments of the market are busier and in more demand than others. Nonetheless, the market as a whole is doing well, and we expect to see more price increases in the months ahead.

If you're interested in how these market trends relate to your real estate goals, our team would love to answer your questions. Call us today at 780-462-5002 or fill out the form below to get in touch with us!

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