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Curious about what's happening in Edmonton's housing market? We've got the scoop! Here's your January 2025 update, covering home prices, market activity, and expert insights for buyers and sellers. Let's Dive In!
New and Sold Listings: What's the Big Picture?
New Listings: 1,843 (up 77.2% from December 2024!) - that's a lot of fresh options for buyers!
Homes Sold: 1,232 (up 18.7% from last month) - demand is strong, supply is struggling to keep up.
Sales-to-New-Listing Ratio: 0.67 - this number tells us the market is currently... favoring sellers!
Edmonton Home Prices: What's Hot and What's Not
Single-Family Detached Homes
The stars of the show!
Average price: $560,214, up 5.6% from December 2024 and 17.6% from January 2024.
Median price: $512,500, reflecting a 4.8% monthly increase and a 15.2% annual gain.
If you are looking to sell your home, this strong growth suggests demand is high. Check out single-family home listings.
Half-Duplex Homes
A solid choice!
Average price: $426,570, showing a 2.6% monthly increase and an 11.7% rise year-over-year.
Median price: $428,500, up 3.3% month-over-month and 7.2% annually.
These homes sold faster than single-family homes, with an average of 52 days on the market. Explore half-duplex listings.
Condominiums
A slower pace for condos.
Average price: $205,130, up 0.9% from December and 10% from last year.
Median price: declined 3.9% month-over-month but remained 14.1% higher year-over-year.
Time on market: 93 days—longer than other property types.
Townhomes
One of the biggest annual price jumps!
Average price: $280,302, up 4.9% from last month and 18.1% from last year.
Median price: $282,000, reflecting a 4.8% monthly increase and a 16.5% annual rise.
Townhomes sold faster than most property types, averaging 45 days on the market.
Check out the latest listings for no condo fee townhomes.
Market Supply and Demand: What's Next?
Sales-to-New-Listing Ratio: 0.67 (sellers market, for now!).
New Housing Starts in Alberta: Down 31.3% in December - could lead to even tighter inventory soon!
Thinking of Selling?
Now's a great time! With fewer new homes entering the market and prices rising, you're in a good position. Get your home value estimate today and see what your property is worth!
Construction and Development: The Bigger Picture
Housing Starts: 3,485 in December 2024 (down 31.3% from the previous month).
Construction Value: $1,631,248,000 in November 2024 (down 3.6% from the previous month).
Your Next Move?
Whether you're eyeing a single-family home, half-duplex, or luxury living, understanding the market is key. Sellers, know your numbers:
Seasonal Trends: Learn about the slowest months for real estate, what time of year people buy houses, and when people sell houses.