Edmonton, December 3, 2024: There were a total of 1,920 residential unit sales in the Greater Edmonton Area (GEA) real estate market during November 2024, a 22.8% decrease from October 2024 and 18.4% higher than November 2023. New residential listings amounted to 2,114, down 27.9% from October 2024 and up 1.4% from November 2023. Overall inventory in the GEA decreased 12.1% month-over-month and 17.3% year-over-year.
The total number of Detached unit sales was 1,138, a decrease of 20.5% over the previous month but 23.6% higher than the previous year. Semi-detached unit sales decreased 27.8% month-over-month while remaining 18.0% higher year-over-year.
Total residential average prices came in at $436,401, a 0.9% decrease from October 2024, but reflected an overall increase of 14.7% compared to November 2023. Detached homes averaged $540,320, a 2.3% decrease from October 2024, and coming in 12.8% higher than the previous year. Semi-detached units sold for an average of $411,469, increasing 1.1% from the previous month and up 13.3% year-over-year.
The MLS® Home Price Index (HPI) composite benchmark price* in the GEA came in at $402,100, decreasing 0.3% from October 2024 and up 7.9% from November 2023.
Detached homes averaged 41 days on the market, an increase of three days from October 2024. Semi-detached homes increased by three days to 32 days on the market. Overall, all residential listings averaged 41 days on the market, with a four-day month-over-month increase and a five-day decrease in comparison to November 2023.
Sourced from RAE
How was the Market Activity in November 2024
Comments:
Post Your Comment: