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.
Bōdesellers 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!
Edmonton Real Estate Trends: November 2024 Market Update
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
Edmonton’s real estate market showcases impressive growth, supported by a balanced economy and moderate population increases. Sales have skyrocked to 34% above the last five Octobers, while average prices grew 10.5% since last month, reaching just under $400,000. Inventory levels, well below the average of the last five Octobers at -22%, have brought months of supply to 2 months, indicating a shift toward a seller’s market. This stability reflects Edmonton’s appeal for affordability compared to other metropolitan areas.
Edmonton's Detached Homes
Detached homes continue to see increased demand, with sales up 28% over the last five Octobers and average prices climbing to $460,000, a 12.4% increase from September. Family-friendly properties in suburban areas continue to drive demand and with more sales activity than available listings, these properties aren’t staying on the market long.
Edmonton's Apartments
The apartment segment in Edmonton demonstrates steady interest, with sales increasing by 9% over the last five Octobers. Prices have appreciated by 1.3% since last month, averaging $196,000. This affordability continues to attract younger buyers entering the market and investors capitalizing on the robust rental market.
Edmonton's Attached Homes
Attached homes, including duplexes and townhouses, are astonishing activity with a staggering 114% increase in sales over the last five Octobers. Average prices reached just under $270,000, up 4.4% from last month. As more Canadians look for affordable housing across the country, this may be the most attractive segment across the country.
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 – November 2024
Edmonton Real Estate Market – November 2024
Real Estate Market Report | Edmonton | November 2024
Continued Stability Amidst Easing Supply Constraints
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.
Bōdesellers 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!
Edmonton Real Estate Trends: November 2024 Market Update
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
Edmonton’s real estate market showcases impressive growth, supported by a balanced economy and moderate population increases. Sales have skyrocked to 34% above the last five Octobers, while average prices grew 10.5% since last month, reaching just under $400,000. Inventory levels, well below the average of the last five Octobers at -22%, have brought months of supply to 2 months, indicating a shift toward a seller’s market. This stability reflects Edmonton’s appeal for affordability compared to other metropolitan areas.
Edmonton's Detached Homes
Detached homes continue to see increased demand, with sales up 28% over the last five Octobers and average prices climbing to $460,000, a 12.4% increase from September. Family-friendly properties in suburban areas continue to drive demand and with more sales activity than available listings, these properties aren’t staying on the market long.
Edmonton's Apartments
The apartment segment in Edmonton demonstrates steady interest, with sales increasing by 9% over the last five Octobers. Prices have appreciated by 1.3% since last month, averaging $196,000. This affordability continues to attract younger buyers entering the market and investors capitalizing on the robust rental market.
Edmonton's Attached Homes
Attached homes, including duplexes and townhouses, are astonishing activity with a staggering 114% increase in sales over the last five Octobers. Average prices reached just under $270,000, up 4.4% from last month. As more Canadians look for affordable housing across the country, this may be the most attractive segment across the country.
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.
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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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