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The Edmonton real estate market experienced notable shifts in November 2024. Below, we break down key statistics and trends for various property types, helping you navigate house values and prices in Edmonton.
In November 2024, Edmonton's housing market showed significant shifts that reflect broader economic trends and local real estate dynamics. The total number of home listings decreased substantially, indicating potential market tightening and selective seller strategies.
New Listings and Sales Overview
New Listings: 1,615 homes were listed in November, marking a 27.6% decline compared to the previous month.
Sales: 1,344 homes sold, reflecting a 20.3% month-over-month decrease and a 13.3% year-over-year increase.
Sales-to-New-Listing Ratio: The ratio stands at 0.83, indicating strong buyer demand despite fewer listings.
These numbers suggest a market in transition. Fewer listings combined with consistent sales volumes hint at potential price stability and selective buyer interest across Edmonton's neighborhoods.
For a deeper dive into Edmonton's housing market trends, visit our page on single-family homes for sale.
Property Prices in Edmonton
Single-Family Detached Homes
Average Price: $524,247.8 (↓3.3% MoM, ↑11.6% YoY)
Median Price: $489,999.5 (↓1% MoM, ↑15.1% YoY)
Days on Market: 63
These properties remain a popular choice among families and long-term investors, driving year-over-year price growth. Buyers seeking long-term stability find value in this segment. Explore luxury options on our luxury single-family homes page.
Half-Duplexes
Average Price: $419,011.8 (No change MoM, ↑14.4% YoY)
Median Price: $405,000 (↓2.4% MoM, ↑8.7% YoY)
Days on Market: 44
Half-duplexes offer a balance between affordability and space, making them an attractive option for first-time buyers and those looking to downsize. For recent listings, check out our half-duplex for sale Edmonton page.
Condominiums
Average Price: $183,255.3 (↓5.9% MoM, ↑9.7% YoY)
Median Price: $176,300 (↓2.7% MoM, ↑16.4% YoY)
Days on Market: 75
Condos remain an affordable entry point into the market, particularly for younger buyers and investors aiming to build equity.
Townhomes
Average Price: $271,460.2 (↓4.7% MoM, ↑10.1% YoY)
Median Price: $280,000 (↑0.1% MoM, ↑9.8% YoY)
Days on Market: 42
Townhomes bridge the gap between single-family homes and condos, providing flexibility for families and professionals seeking manageable spaces. Considering no-condo-fee options? Explore our no-condo-fee townhomes.
Seasonal Trends in Edmonton's Real Estate Market
November typically sees reduced activity due to colder weather and the holiday season.
For sellers, preparing for the spring surge is crucial. Check out our insights on the best month to sell a house in Edmonton.
As the colder months set in, buyers often prioritize move-in-ready homes to minimize renovation needs during winter. Sellers can benefit by emphasizing warmth and energy efficiency.
Cost of Selling a Home
Average Selling Costs: Fees include commissions, legal costs, and potential renovations.
Use our net proceeds calculator to estimate profits.
Learn more about typical selling expenses on our blog post: How much does it cost to sell your house in Alberta in 2024.
Marketing strategies, such as professional photography and staging, can also influence overall costs and significantly impact the final sale price.
Additional Edmonton Market Insights
Housing Starts: 4,394 units began construction in Alberta in October 2024, an increase of 16.7% month-over-month.
Construction Value: The total construction value in September was $1.59 billion, reflecting a 1.8% decline MoM.
Learn more about Edmonton neighborhoods, such as the top 5 richest neighborhoods in Edmonton.
The rise in housing starts reflects builder confidence in Alberta's economy, while the dip in construction value may indicate a focus on smaller, more affordable projects.
Conclusion
Edmonton's real estate market remains dynamic, with changes in prices, demand, and seasonality influencing buying and selling strategies. Whether you’re planning to sell your home or explore current listings, staying informed is key.
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Contact us to learn how we can help you achieve your real estate goals.