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 October 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 Edmonton housing market in September 2024 is showing signs of stability, with moderate price growth and an easing of supply pressures. Sales activity reached above 2,000 units – a 17% increase over the last five Septembers, and the average price across all property types increased by 4.3% year-over-year, settling at $399,400. Inventory has improved slightly compared to last year, allowing for more balanced market conditions, though demand remains steady.
Edmonton's Detached Homes
Detached homes continue to lead the market, with over 1,200 units sold in September. The average price increased by 5.1% year-over-year to $462,400. Although inventory is up slightly from 2023, it remains tight, with just under two months of supply. Buyers are facing less urgency than earlier in the year, but demand remains solid, particularly in suburban areas.
Edmonton's Apartments
Edmonton’s apartment market remains relatively affordable, with just shy of 400 units sold and the average price hovering around $200,000, up 2.8% from the previous year. This segment continues to appeal to first-time buyers and investors due to its affordability, though inventory levels are more comfortable compared to other property types.
Edmonton's Attached Homes
The attached home market (townhouses and semi-detached) recorded Just under 600 units sold in September, with prices rising 3.9% year-over-year to $268,000. This market segment remains competitive, driven by buyers seeking larger spaces at a more affordable price point than detached homes. Inventory levels are balanced, contributing to more measured price increases.
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 – October 2024
Edmonton Real Estate Market – October 2024
Real Estate Market Report | Edmonton | October 2024
Prices Stabilize 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.
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 October 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 Edmonton housing market in September 2024 is showing signs of stability, with moderate price growth and an easing of supply pressures. Sales activity reached above 2,000 units – a 17% increase over the last five Septembers, and the average price across all property types increased by 4.3% year-over-year, settling at $399,400. Inventory has improved slightly compared to last year, allowing for more balanced market conditions, though demand remains steady.
Edmonton's Detached Homes
Detached homes continue to lead the market, with over 1,200 units sold in September. The average price increased by 5.1% year-over-year to $462,400. Although inventory is up slightly from 2023, it remains tight, with just under two months of supply. Buyers are facing less urgency than earlier in the year, but demand remains solid, particularly in suburban areas.
Edmonton's Apartments
Edmonton’s apartment market remains relatively affordable, with just shy of 400 units sold and the average price hovering around $200,000, up 2.8% from the previous year. This segment continues to appeal to first-time buyers and investors due to its affordability, though inventory levels are more comfortable compared to other property types.
Edmonton's Attached Homes
The attached home market (townhouses and semi-detached) recorded Just under 600 units sold in September, with prices rising 3.9% year-over-year to $268,000. This market segment remains competitive, driven by buyers seeking larger spaces at a more affordable price point than detached homes. Inventory levels are balanced, contributing to more measured price increases.
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
9808 91 Avenue Northwest
Bōde sellers sell for more and save a lot
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
Why Bōde?
What homeowners are saying about Bōde
Toronto Real Estate Market – October 2024
Vancouver Real Estate Market – October 2024
Calgary Real Estate Market – October 2024
Edmonton Real Estate Market – September 2024
Like this article?
Leave a comment