Edmonton, November 4, 2024: There were a total of 2,489 residential unit sales in the Greater Edmonton Area (GEA) real estate market during October 2024, a 10.5% increase from September 2024 and 38.5% higher than October 2023. New residential listings amounted to 2,934, down 8.7% from September 2024 and up 9.2% higher from October 2023. Overall inventory in the GEA decreased 10.1% month-over-month and sits 17.4% lower year-over-year.
The total number of Detached unit sales was 1,431, an increase of 10.2% over the previous month and 37.2% over the previous year. Semi-detached unit sales increased 11.4% month-over-month and 38.6% year-over-year.
Total residential average prices came in at $440,089, a 0.1% decrease from September 2024, but reflecting an overall increase of 11.1% compared to October 2023. Detached homes averaged $552,954, showing no change from September 2024 but still 13.6% higher than the previous year. Semi-detached units sold for an average of $407,006, decreasing 1.5% from the previous month and up 5.6% year-over-year.
Detached homes averaged 38 days on the market, an increase of two days from September 2024. Semi-detached homes decreased by one day to 29 days on the market. Overall, all residential listings averaged 37 days on the market, with no change month-over-month and a nine-day decrease in comparison to October 2023.
Sourced from RAE
How was the Market Activity in October 2024
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