Market Jan 2024 

🏡 Edmonton Real Estate Market Update 📈

In January 2024, Greater Edmonton Area (GEA) saw a surge in residential unit sales, totaling 1,439 - up by 17.5% from December 2023 and a whopping 46.8% from January 2023. New listings also increased to 2,195, marking a 49.3% rise from December 2023 but a slight dip of 2.3% from January 2023. Despite this, overall inventory decreased by 1.9% from December 2023 and 12.1% from January 2023.

🏠 By type:

  • Detached unit sales soared by 25.0% month-over-month and 51.0% year-over-year.
  • Semi-detached units remained steady with a 0.7% increase month-over-month and a significant 41.0% jump year-over-year.
  • Row/Townhouse unit sales saw a nominal uptick of 0.5% from December 2023 and 31.1% from the previous year.
  • Apartment Condominium unit sales spiked by 50.0% compared to January 2023 and 16.9% from the previous month.

💰 Average Prices:

  • Total residential prices averaged at $398,724, up by 2.5% from December 2023 and 7.6% from January 2023.
  • Detached homes averaged $484,365, experiencing a 1.0% decrease from December 2023 but a 7.3% increase from the previous year.
  • Semi-detached units sold for an average of $378,421, up by 6.6% year-over-year and 4.0% from the previous month.
  • Row/townhouse prices rose by 2.8% from December 2023 and 8.6% from January 2023, averaging at $268,948.
  • Apartment Condominium average prices hit $192,660, up by 12.8% from the previous month and 1.1% higher than the previous year.

📉 MLS® Home Price Index (HPI):

  • The composite benchmark price in the GEA decreased slightly to $376,700 from December 2023, but showed a 2.9% increase from January 2023.

🗣️ Melanie Boles, 2023 Board Chair of REALTORS® Association of Edmonton, notes, "The Edmonton real estate market is off to a strong start this year with robust sales and prices compared to last year. However, we'll closely monitor inventory leading up to the spring market to ensure enough listings meet the demand."

📆 Days on Market:

  • Detached homes averaged 60 days on the market, up by seven days from December 2023.
  • Semi-detached homes averaged 53 days, a 12-day increase from the previous month.
  • Row/townhouses and apartment condominiums averaged 53 and 65 days, respectively, with slight increases from December 2023.

Overall, all residential listings averaged 59 days on the market, showing a month-over-month increase of 7 days but a 7-day decrease compared to January 2023.

Stay tuned for more updates on Edmonton's dynamic real estate market! 🏡💼 #EdmontonRealEstate #MarketUpdate #RealEstateTrends"


If you have questions or need help with buying or selling, just complete the form below and a member of our team will be in touch shortly!

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.