Edmonton, August 2, 2024: There were a total of 2,941 residential unit sales in the Greater Edmonton Area (GEA) real estate market during July 2024, a 3.5% increase from June 2024, and 27.1% higher than July 2023. New residential listings amounted to 3,729, up 2.9% from June 2024, and 13.2% higher than July 2023. Overall inventory in the GEA decreased 1.4% from June 2024 and is tracking 15.1% lower than July 2023.
The total number of Detached unit sales was 1,708, an increase of 2.8% over the previous month, and 23.5% higher than the previous year. Semi-detached unit sales decreased 6.6% month-over-month and showed an increase of 13.0% year-over-year.
Total residential average prices came in at $440,466, a 0.4% increase from June 2024, and a 7.7% increase from July 2023. Detached homes averaged $552,031, increasing 2.3% from June 2024 and up from the previous year by 9.8%. Semi-detached units sold for an average of $406,906, decreasing 3.6% from the previous month, and up 7.4% year-over-year.
Detached homes averaged 32 days on the market, an increase of three days from June 2024. Semi-detached homes recorded a one-day decrease with 27 days on the market. Overall, all residential listings averaged 33 days on the market, a month-over-month increase of 3 days and a 12-day decrease in comparison to July 2023.
Sourced from RAE
How was the Market Activity in July 2024
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