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How was the Market Activity in April 2024

How was the Market Activity in April 2024
Edmonton, May 2, 2024: There were a total of 3,128 residential unit sales in the Greater Edmonton Area (GEA) real estate market during April 2024, showing increases of 27.1% over March 2024, and 54.9% over April 2023. New residential listings amounted to 3,909, a number 11.2% higher than in March 2024, and 13.7% higher than April 2023. Overall inventory in the GEA increased 2.7% from March 2024, but is still 20.5% lower than April 2023.

Detached unit sales totalled 1,858, an increase of 27.1% over the previous month, and 51.4% higher than the previous year. Semi-detached unit sales increased 33.6% month-over-month and showed an increase of 61.7% year-over-year.

Total residential average prices came in at $431,387, a 2.5% increase from March 2024, and 5.4% increase from April 2023. Detached homes averaged $529,957, increasing 2.5% from March 2024 and up from the previous year by 5.8%. Semi-detached units sold for an average of $406,674, falling 0.5% from the previous month, but up 7.4% year-over-year.

Detached homes averaged 36 days on the market, decreasing 4 days from March 2024. Semi-detached homes averaged 29 days on the market, a decrease of 6 days from the previous month. Overall, all residential listings averaged 36 days on the market, a month-over-month decrease of 3 days and an 8-day decrease when compared to April 2023.

Sourced from RAE

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