Edmonton, April 2, 2024: There were a total of 2,467 residential unit sales in the Greater Edmonton Area (GEA) real estate market for March 2024, showing increases of 25.6% over February 2024, and 35.7% over March 2023. New residential listings amounted to 3,597, a number 32.4% higher than in February 2024, and 8.9% higher than March 2023. Overall inventory in the GEA increased 10.7% from February 2024, but is still 15.4% lower than March 2023.

Detached unit sales totalled 1,462, an increase of 26.1% over the previous month, and 36.8% higher than the previous year. Semi-detached unit sales increased 34.9% month-over-month and showed an increase of 43.9% year-over-year. Row/Townhouse unit sales also increased 29% compared to February 2024 and 31.4% compared to the previous year. Apartment Condominium unit sales also increased 30.8% over March 2023, and 14.9% from the previous month.

Total residential average prices came in at $420,959, a 3.4% increase from February 2024, and an 8% increase from March 2023. Detached homes averaged $517,131, increasing 1.7% from February 2024 and up from the previous year by 6.7%. Semi-detached units sold for an average of $408,555, an 11.5% increase year-over-year, and a 6.1% increase from the previous month. Row/townhouse prices were up 2.5% from February 2024 and 13.9% when compared to March 2023, selling at an average of $282,557. Apartment Condominium average prices hit $194,101, increasing 7% over last month and coming in 0.6% higher than the previous year.

The MLS® Home Price Index (HPI) composite benchmark price* in the GEA came in at $392,600, increasing 2.7% from February 2024, and 4.4% from March 2023.

“It’s great to see an increase of just over 30% for new listings last month, but our overall inventory is still lower than last year by 15%.” says REALTORS® Association of Edmonton 2024 Board Chair Melanie Boles. “Unit sales numbers are still strong, but not outpacing the new listings; they’re actually very balanced with each other and that’s positive for both buyers and sellers.”

Detached homes averaged 40 days on the market, decreasing 8 days from February 2024. Semi-detached homes averaged 35 days on the market, a decrease of 7 days from the previous month, and row/townhouses’ days on the market decreased 11 days to 34. Apartment condominiums averaged 47 days on the market, dropping 18 days from February 2024. Overall, all residential listings averaged 39 days on the market, a month-over-month decrease of 11 days and a nine-day decrease when compared to March 2023.

*Please note – Each year, in line with statistical best practices, the MLS® HPI undergoes a comprehensive review by Canadian Real Estate Association (CREA). The results can lead to changes in the available data and historical composite or aggregate benchmark prices could be revised higher or lower.

Edmonton, March 2, 2024: There were a total of 1,966 residential unit sales in the Greater Edmonton Area (GEA) real estate market for February 2024, showing increases of 36.9% over January 2024, and 52.6% over February 2023. New residential listings amounted to 2,762, a number 27.7% higher than in January 2024, and 9.3% higher than February 2023. Overall inventory in the GEA increased 5.8% from January 2024, but is still 14.3% lower than February 2023.

Detached unit sales totalled 1,159, a number 32.5% higher than the previous month, and 60.5% higher than the previous year. Semi-detached unit sales increased 36.2% month-over-month and showed an increase of 28.0% year-over-year. Row/Townhouse unit sales also increased 44.6% compared to January 2024 and 49.2% compared to the previous year. Apartment Condominium unit sales also increased 46.7% over February 2024, and 48.0% from the previous month.

Total residential average prices came in at $407,458, a 2.3% increase from January 2024, and a 10.4% increase from February 2023. Detached homes averaged $508,411, increasing 5.2% from January 2024 and up from the previous year by 10.7%. Semi-detached units sold for an average of $385,163, a 7.7% increase year-over-year, and a 1.8% increase from the previous month. Row/townhouse prices were up 2.4% from January 2024 and 9.7% when compared to February 2023, selling at an average of $275,735. Apartment Condominium average prices hit $181,347, decreasing 5.7% over last month and coming in 3.2% lower than the previous year.

The MLS® Home Price Index (HPI) composite benchmark price* in the GEA came in at $382,200, increasing 1.5% from January 2024, and 3.7% from February 2023.

“It’s expected that the spring market will be busy this year, but when you see detached single family homes are already selling 60.5% more units than last year, it makes you sit up and take notice,” says REALTORS® Association of Edmonton 2023 Board Chair Melanie Boles. “If the month-to month change in sales continues at this pace, then it will be a hot market indeed.”

Detached homes averaged 48 days on the market, decreasing 12 days from January 2024. Semi-detached homes averaged 42 days on the market, a decrease of 11 days from the previous month, and row/townhouses’ days on the market decreased eight days to 45. Apartment condominiums averaged 65 days on the market, showing no change from January 2024. Overall, all residential listings averaged 50 days on the market, a month-over-month decrease of nine days and a seven-day decrease when compared to February 2023.

*Please note – Each year, in line with statistical best practices, the MLS® HPI undergoes a comprehensive review by Canadian Real Estate Association (CREA). The results can lead to changes in the available data and historical composite or aggregate benchmark prices could be revised higher or lower.

Edmonton, February 2, 2024: Total residential unit sales in the Greater Edmonton Area (GEA) real estate market for January 2024 came to 1,439, an increase of 17.5% from December 2023, and 46.8% higher than January 2023. New residential listings amounted to 2,195, a number 49.3% higher than in December 2023, and 2.3% lower than January 2023. Overall inventory in the GEA decreased 1.9% from December 2023 and 12.1% from January 2023.

For December, detached unit sales totalled 876, higher than the previous month by 25.0%, and up 51.0% from the previous year. Semi-detached unit sales held steady at just 0.7% higher month-over-month but showed an increase of 41.0% year-over-year. Row/Townhouse unit sales had a similar nominal increase of 0.5% compared to December 2023 and an increase of 31.1% from the previous year. Apartment Condominium unit sales also saw a significant year-over-year increase coming in at 50.0% over January 2023, and increased 16.9% from the previous month.

Total residential average prices came in at $398,724, a 2.5% increase from December 2023, and a 7.6% increase from January 2023. Detached homes averaged $484,365, decreasing 1.0% from December 2023 and up from the previous year by 7.3%. Semi-detached units sold for an average of $378,421, resulting in a 6.6% increase year-over-year, and a 4.0% increase from the previous month. Row/townhouse prices were up 2.8% from December 2023 and 8.6% when compared to January 2023, selling at an average of $268,948. Apartment Condominium average prices hit $192,660, increasing 12.8% over last month and 1.1% higher than the previous year.

The MLS® Home Price Index (HPI) composite benchmark price* in the GEA came in at $376,700, decreasing 0.1% from December 2023, and a year-over-year increase of 2.9% from January 2023.

“Edmonton real estate market is off to a good start for the year, with strong sales and prices compared to last year,” says REALTORS® Association of Edmonton 2023 Board Chair Melanie Boles. “But we’ll be watching our inventory very closely leading up to the spring market. We want enough new listings available to meet the demand that is clearly there.”

Detached homes averaged 60 days on the market, increasing seven days from December 2023. Semi-detached homes averaged 53 days on the market, an increase of 12 days from the previous month, and row/townhouses’ days on the market increased three days to 53. Apartment condominiums averaged 65 days on the market, showing a nine-day increase from December 2023. Overall, all residential listings averaged 59 days on the market, a month-over-month increase of 7 days and a 7-day decrease when compared to January 2023.

*Please note – Each year, in line with statistical best practices, the MLS® HPI undergoes a comprehensive review by Canadian Real Estate Association (CREA). The results can lead to changes in the available data and historical composite or aggregate benchmark prices could be revised higher or lower. Learn more here or see the FAQ document here.

2023 Edmonton & Area Market Statistics

Edmonton, January 3, 2024: In December 2023, 1,229 homes were sold in the Greater Edmonton Area (GEA) real estate market. This was a 24.4% decrease from November 2023 but a 25.2% increase from December 2022. New home listings were 1,497, which is 28.3% lower than November 2023 but 27% higher than December 2022. The overall number of homes available in the GEA decreased by 6.7% from December of the previous year and 15.2% from November 2023.

For December, 701 detached homes were sold, a 24.4% decrease from November 2023 but a 22.6% increase from the previous year. Semi-detached home sales decreased by 16.7% from the previous month but increased by 42.9% from December 2022. Row/townhouse unit sales were down 19.2% from November 2023 but up 44.0% year-over-year. Apartment condominium sales decreased by 33.7% from last month and increased by only 9.6% compared to December 2022.

The average price for all residential properties was $388,637, a 2.0% increase from November 2023 and a 3.5% increase from December 2022. Detached homes averaged $489,392, a 3.8% year-over-year increase and a 2.2% increase from November 2023. Semi-detached homes sold for an average of $364,115, showing a 1.6% increase year-over-year and a 0.5% increase from the previous month. Row/townhouse prices were down 4.0% from November 2023 but increased by 9.9% compared to December 2022, selling at an average of $260,959. Apartment condominium average prices were $170,408, showing decreases of 0.4% from last month and 5.2% from last year.

The MLS® Home Price Index (HPI) composite benchmark price in the GEA was $435,000, a 0.7% increase from November 2023 and a 3.5% increase from December 2022.

Melanie Boles, the 2023 Board Chair of the REALTORS® Association of Edmonton, mentioned, “December's numbers are higher than in 2022, but the overall activity this year hasn't matched the previous year. The year-to-date average selling price is $398,735, compared with $415,115 in 2022, and year-to-date average unit sales are still behind by 8%.”

Detached homes averaged 53 days on the market, increasing seven days from November 2023. Semi-detached homes averaged 41 days on the market, an increase of two days from the previous month, while row/townhouses’ days on the market increased to 52, a difference of eight days. Apartment condominiums averaged 56 days on the market, showing a two-day increase from November 2023. Overall, all residential listings averaged 52 days on the market, a month-over-month increase of 3 days and a six-day decrease when compared to December 2022.