Edmonton, January 3, 2025: There were a total of 1,428 residential unit sales in the Greater Edmonton Area (GEA) real estate market during December 2024, a 25.4% decrease from November 2024 and 17.2% higher than December 2023. New residential listings amounted to 1,367, down 33.3% from November 2024 and 7.3% from December 2023. Overall inventory in the GEA decreased 22.5% month-over-month and 24.6% year-over-year.
The total number of Detached unit sales was 826, a decrease of 27.2% over the previous month but still 18.8% higher than the previous year. Semi-detached sales decreased 15.8% month-over-month while remaining 18.7% higher year-over-year, coming in at 165 units sold.
Total residential average prices came in at $435,549, reporting no change from the previous month, but reflected an overall increase of 12.2% compared to December 2023. Detached homes averaged $540,232, with no change from November 2024, and coming in 10.6% higher than the previous year. Semi-detached units sold for an average of $408,823, increasing 1.6% from the previous month and up 12.3% year-over-year.
The MLS® Home Price Index (HPI) composite benchmark price* in the GEA came in at $403,900, increasing 0.4% from November 2024 and up 7.8% from December 2023.
Detached homes averaged 44 days on the market, an increase of three days from November 2024. Semi-detached homes increased by one day to 33 days on the market. Overall, all residential listings averaged 44 days on the market, with a four-day month-over-month increase and an eight-day decrease in comparison to December 2023.
Sourced from RAE
How was the Market Activity in December 2024
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