Market Update

May: Market at a Glance

Here is a snapshot of the recent average prices in the Edmonton area based on sales reported for May 2024 in the Edmonton MLS System®.

This report shows that prices are up this year and we are into the heart of the spring market. Buyers seem to have adjusted to the higher interest rates. Multiple offers are not uncommon for desirable, well-priced homes. If you need better information or would like a more detailed analysis for your home or property needs, please just ask!

April: Absorption Rate

Here is a snapshot of the listing absorption rate for Edmonton-area market for April 2024.

The Edmonton market is a bit crazy for reasonably priced single family homes right now. The apartment market continues to improve but is still a bit slow. And the market for high end properties is best described as 'normal'. There are opportunities for moving ahead and we continue to see strong activity for desirable, well priced properties.

I find that it's best to take all statistics with a grain of salt. Call me if you'd like better information with respect to your specific situation.

March: Average Time to Sell

This chart shows the Average Days On Market for properties reported as sold in March 2024 in the Edmonton MLS System®.

The Edmonton real estate market has definitely picked up for spring, particularly for well priced single family detached homes. But things are never as simple as the statistics or averages would seem to make them.

Is this a good time to buy or sell? If you would like to discuss your current situation, let's chat.