The popularity of Edmonton continues as Alberta remains the most active market in the country. With more domestic migration and steady immigration, the provincial capital maintains steady growth.
We help provide home buyers and sellers with the data they need to be successful. When you have access to accurate and relevant data, you can be more confident in setting the price of your home and selling it or buying at the right price.
With many important factors to consider (what kind of home you have, what community etc.), it’s important to look specifically at what the housing market is doing in your neighbourhood.
Bōde sellers are more successful and actually make more money, on average, than the rest of the market. We are also here to make sure you have the information you need to make the decisions that are right for YOU!
So what's happening in the Edmonton real estate market as of September 2024?
Let’s start with a Macroeconomics view
To understand what’s happening in the real estate market you have to look at supply and demand.
The best proxies for supply and demand are:
Supply
New supply: New Listings (i.e. the number of homes recently listed for sale)
Total supply: Inventory (i.e. the total number of homes listed for sale)
Demand
Sales (i.e. the number of homes recently sold)
Supply & Demand
Months of Supply (i.e. the number of months it would take to sell all current inventory at the current rate of sale)
These metrics are the best indicators of the health of the real estate market. Let’s look at what they show us.
Overall Edmonton Market
The September 2024 real estate market in Edmonton presents a mixed bag of performance across property types, marked by significant variations in supply, demand, and pricing. Overall, the Edmonton market has seen a 9% increase in new listings compared to the last five Augusts, signaling growing seller confidence. However, sales have grown dramatically, by 35%, showcasing a robust demand despite fluctuating supply levels. Inventory, on the other hand, has decreased by 20%, putting upward pressure on prices, while the months of supply—an indicator of how long current inventory would last at the current sales pace—has plummeted by 36%, pointing to a tighter market overall.
Edmonton's Detached Homes
The detached home market in Edmonton is holding strong, with new listings up 15% compared to recent years. Sales have also increased, rising by 17%, showing that demand remains healthy. The benchmark price for detached homes stands at $461,800, reflecting steady buyer interest. Despite increased listings, supply isn’t outpacing demand, suggesting that detached homes remain a hot commodity for Edmonton families seeking more space.
Edmonton's Apartments
Edmonton’s apartment market, however, tells a different story. New listings in this segment have fallen by 25%, while sales have also dropped slightly by 4%, suggesting that this market may be cooling. Despite the softer demand, prices remain relatively stable, with the benchmark price sitting at $196,900. The decrease in listings could indicate a hesitancy from sellers to enter the market, which might tighten supply in the coming months.
Edmonton's Attached Homes
The attached home segment is where things truly heat up. New listings have surged by 27%, while sales have exploded by 40%, highlighting the growing popularity of this market. Attached homes, including townhouses and duplexes, offer a middle ground for buyers seeking affordability without sacrificing space, and this is reflected in their benchmark price of $266,100, which remains competitive. The supply-demand dynamics in this sector suggest that prices may continue to rise if demand keeps outpacing the influx of new listings.
It’s critical to understand the dynamics in your local property market
To understand your local property market you need to look at your local data. Head over to Bōde’s new and improved Market Data dashboard, the only place where you can see all the data yourself, including being able to filter on community, property type, and price range to see exactly what’s happening where you live.
You can also see the sold price of any home that has sold in the last 2 years using Bode’s Sold Data page.
Bōde has created a marketplace to allow you to get transparent home data, set your price, and list your home on MLS (and 1000+ more sites). We will advertise your home and walk you through the whole sale process for 1% up to a maximum of $10K, only when the home sells.
Looking to buy? Bōde empowers buyers to purchase any Bōde property – for no charge.
With your free Bōde account, you don’t need an agent – you are completely in charge of your home sale or purchase and get to keep more of the money you invested in your home!
Saved nearly $15,000 by having my offer accepted through Bōde instead of through a real estate agent. If you are willing to be more involved in the process it's definitely worth checking out.
My house sold with Bōde for $30k higher than what most realtors estimated, while saving me a ton in fees.
As a builder, I pour my heart and soul into these projects. With Bōde I was able to sell four luxury homes in 21 days, saving well over $100,000 in commissions.
We saved thousands of dollars selling out home with Bōde.
If we ever sell another home we will definitely use Bōde again.
We were amazed at how fast we were able to sell our home using Bōde.
We certainly priced our hom eright and were able to sell it for 7% more than market and 92 days faster!
Used Bōde to sell my condo, they were super responsive and helpful through the entire thing.
Scheduling all the showings myself was great, really simplified the process and saved a lot of money.
I have always wanted to list, show and sell my own homes in the pas but without a real estate licence it was never possible.
Now with Bōde, marketing and selling your own home is in reach.
Home » Blog » Monthly Market Updates » Edmonton Real Estate Market – September 2024
Edmonton Real Estate Market – September 2024
Real Estate Market Report | Edmonton | September 2024
A Market of Contrasts—Surging Sales in Some Segments, Cooling in Others
The popularity of Edmonton continues as Alberta remains the most active market in the country. With more domestic migration and steady immigration, the provincial capital maintains steady growth.
We help provide home buyers and sellers with the data they need to be successful. When you have access to accurate and relevant data, you can be more confident in setting the price of your home and selling it or buying at the right price.
With many important factors to consider (what kind of home you have, what community etc.), it’s important to look specifically at what the housing market is doing in your neighbourhood.
Bōde sellers are more successful and actually make more money, on average, than the rest of the market. We are also here to make sure you have the information you need to make the decisions that are right for YOU!
So what's happening in the Edmonton real estate market as of September 2024?
Let’s start with a Macroeconomics view
To understand what’s happening in the real estate market you have to look at supply and demand.
The best proxies for supply and demand are:
Supply
New supply: New Listings (i.e. the number of homes recently listed for sale)
Total supply: Inventory (i.e. the total number of homes listed for sale)
Demand
Sales (i.e. the number of homes recently sold)
Supply & Demand
Months of Supply (i.e. the number of months it would take to sell all current inventory at the current rate of sale)
These metrics are the best indicators of the health of the real estate market. Let’s look at what they show us.
Overall Edmonton Market
The September 2024 real estate market in Edmonton presents a mixed bag of performance across property types, marked by significant variations in supply, demand, and pricing. Overall, the Edmonton market has seen a 9% increase in new listings compared to the last five Augusts, signaling growing seller confidence. However, sales have grown dramatically, by 35%, showcasing a robust demand despite fluctuating supply levels. Inventory, on the other hand, has decreased by 20%, putting upward pressure on prices, while the months of supply—an indicator of how long current inventory would last at the current sales pace—has plummeted by 36%, pointing to a tighter market overall.
Edmonton's Detached Homes
The detached home market in Edmonton is holding strong, with new listings up 15% compared to recent years. Sales have also increased, rising by 17%, showing that demand remains healthy. The benchmark price for detached homes stands at $461,800, reflecting steady buyer interest. Despite increased listings, supply isn’t outpacing demand, suggesting that detached homes remain a hot commodity for Edmonton families seeking more space.
Edmonton's Apartments
Edmonton’s apartment market, however, tells a different story. New listings in this segment have fallen by 25%, while sales have also dropped slightly by 4%, suggesting that this market may be cooling. Despite the softer demand, prices remain relatively stable, with the benchmark price sitting at $196,900. The decrease in listings could indicate a hesitancy from sellers to enter the market, which might tighten supply in the coming months.
Edmonton's Attached Homes
The attached home segment is where things truly heat up. New listings have surged by 27%, while sales have exploded by 40%, highlighting the growing popularity of this market. Attached homes, including townhouses and duplexes, offer a middle ground for buyers seeking affordability without sacrificing space, and this is reflected in their benchmark price of $266,100, which remains competitive. The supply-demand dynamics in this sector suggest that prices may continue to rise if demand keeps outpacing the influx of new listings.
It’s critical to understand the dynamics in your local property market
To understand your local property market you need to look at your local data. Head over to Bōde’s new and improved Market Data dashboard, the only place where you can see all the data yourself, including being able to filter on community, property type, and price range to see exactly what’s happening where you live.
You can also see the sold price of any home that has sold in the last 2 years using Bode’s Sold Data page.
If you’re thinking about selling, take a look at how Bōde helps sellers sell for 1.3% higher prices while paying 50% less commission.
Featured Listings
305 – 1619 James Mowatt Trail SW
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Want to Buy or Sell Your Home easily?
Welcome to Bōde
Bōde has created a marketplace to allow you to get transparent home data, set your price, and list your home on MLS (and 1000+ more sites). We will advertise your home and walk you through the whole sale process for 1% up to a maximum of $10K, only when the home sells.
Looking to buy? Bōde empowers buyers to purchase any Bōde property – for no charge.
With your free Bōde account, you don’t need an agent – you are completely in charge of your home sale or purchase and get to keep more of the money you invested in your home!
Get started at bode.ca
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