.png)
Overview
Welcome to the Edmonton Real Estate Market Update for December 2023! As a trusted real estate agent at Home Analytic, I'm excited to provide you with a comprehensive overview of the latest trends and statistics in the Edmonton housing market. Let's dive into the key takeaways:
Market Trends
New Listings and Sales
In December 2023, the Edmonton real estate market experienced a significant shift. With 1083 homes listed, there was a notable decrease of -33.6% from the previous month. However, the number of homes sold also saw a dip by -28.8% month-over-month but marked a positive change of 24.1% year-over-year.
Pricing Insights
Detached Homes
The average price for a single-family detached home in Edmonton during December 2023 was $481,925.4, showing a moderate change of 2.6% month-over-month and a solid 4.6% year-over-year increase. The median price followed suit at $440,000, indicating a 3.3% monthly change and a 3.7% year-over-year increase.
Half-Duplex
Half-duplex properties also exhibited stability with an average price of $365,921.1, witnessing a 1.9% monthly change and a substantial 6.5% year-over-year increase. The median price was $360,000, reflecting a -3% monthly change but a strong 9.8% year-over-year growth.
Condominiums
The average condominium price showed a positive trend at $172,094.7, with a 3% monthly change, although a slight -0.7% year-over-year decrease. The median condominium price, however, increased significantly by 12.2% monthly and 9% annually, reaching $170,000.
Townhomes
Townhomes in Edmonton had an average price of $258,075.8, experiencing a -4.5% monthly change but a noteworthy 9.5% year-over-year increase. The median price was $265,000, reflecting a -5.4% monthly change and an impressive 15.7% year-over-year growth.
Days On Market
Understanding the time properties spend on the market is crucial for both buyers and sellers.
Detached Single Family Homes: 88 days
Half-Duplex: 54 days
Condo/Apartment: 90 days
Townhomes: 68 days
Sales-to-New-Listing Ratio
The sales-to-new-listing ratio for Edmonton in December 2023 was 0.78, indicating a healthy balance between supply and demand in the market.
Regional Insights
To further assist you in your real estate journey, consider exploring specific regions in Edmonton:
Advanced Search Options
For a more tailored search experience, utilize our advanced search options:
Additional Resources
Stay informed with these insightful blog posts:
Interactive Maps
Explore our interactive maps for a visual representation of Edmonton's real estate zones: