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Edmonton's housing market continues to show resilience in September 2024, defying seasonal expectations with steady growth. Despite a slight dip in new listings and sales compared to August, prices are on the rise, driven by consistent demand across various property types.
Key Highlights for September:
Balanced market: The sales-to-new-listing ratio remains at 0.66, indicating a balanced market with neither buyers nor sellers having a significant advantage.
Rising prices: Average home prices continue to increase, with single-family detached homes leading the way at $546,263.
Seasonal slowdown: The market experiences a typical seasonal slowdown in September, but it's still a good time to buy or sell with the right strategy.
Overview of the September Market
New Listings and Sales
In September 2024, the Edmonton real estate market saw 2,397 new listings, marking a 9% drop from August. Despite this, 1,590 homes were sold—a 12.1% month-over-month decrease but a solid 13.8% increase compared to last year. The sales-to-new-listing ratio was 0.66, pointing to a balanced market that favors the sellers.
While there's a seasonal slowdown, the right timing and preparation can still yield positive outcomes. Curious about when the best time to sell is? Our detailed guide on the optimal months for selling a home in Edmonton can provide more insights.
Average House Prices in Edmonton
Single-Family Detached Homes
The average price for single-family detached homes rose to $546,262.90—a 4.1% jump from August and a 12% increase year-over-year. For more information, check out our collection of single-family homes for sale.
The median price was $493,000, showing a 2.7% increase from the previous month and a 10.2% rise year-over-year. This growth reflects the steady demand for family homes in the city.
Explore our range of single-family homes for sale for more options.
Half-Duplexes
Half-duplex homes averaged $412,821 in September, a 1.8% drop from August. However, year-over-year growth was strong at 12.8%. If you're in the market for a half-duplex, check out our latest listings for up-to-date options.
Condominiums and Townhomes
Condominiums saw a small decline, with the average price dropping 2.9% from August to $194,431. Townhomes followed a similar trend, with a 3.4% monthly decrease, settling at $266,428. Interested in these property types? Take a look at the current market offerings for condominiums and townhomes in Edmonton.
Market Trends: Days on Market
How long are homes staying on the market in Edmonton?
Detached Single-Family Homes: 55 days
Half-Duplexes: 38 days
Condominiums: 74 days
Townhomes: 43 days
Residential Attached: 58 days
Condominiums are taking longer to sell, while duplexes and townhomes tend to move faster—often within five to six weeks. If you want to sell your home quickly, consider factors like home staging, competitive pricing, and listing at the right time.
Thinking about selling? Learn about the potential costs in our comprehensive guide on selling a home in Alberta, covering agent fees, closing costs, and more to help you budget effectively.
Seasonal Trends in Edmonton's Housing Market
Like many regions, Edmonton's real estate market experiences seasonal shifts. September typically marks the beginning of a slowdown after the busier spring and summer months. This year’s market reflects that, with a slight dip in activity affecting average home prices.
Want to learn more about how seasonal trends impact real estate? Our in-depth analysis on the best times to sell in Edmonton can guide you through the key months for listing your property.
Luxury Properties in Focus
For those eyeing high-end homes, Edmonton’s luxury market remains active, with notable price shifts. If you’re interested in exploring the city’s most affluent neighborhoods, check out our list of the top 5 richest neighborhoods in Edmonton for a closer look at where upscale homes are commanding attention.
Conclusion
By focusing on these key aspects of the Edmonton housing market in September 2024, sellers can make the most of the market conditions. With an understanding of average home prices, seasonal trends, and associated selling costs, you're better equipped to navigate the process and optimize your results.
Interested in buying or selling in a specific area? Check out our 2023 Edmonton Zone Map for a detailed overview. Stay informed and make confident decisions in this ever-changing market.
Have questions about how these trends could affect you? Reach out, and let's discuss—your next real estate move could be your best one yet.