📈 Edmonton Real Estate Boom! October 2024 Market Update 🔥

📈 Edmonton Real Estate Boom! October 2024 Market Update 🔥
Welcome back! Here’s what’s happening in Edmonton's real estate market this October 2024! With a total of 2,489 residential units sold, we’ve seen a 10.5% increase since September and a huge 38.5% jump compared to last year. Lower interest rates are giving buyers more purchasing power, keeping the market busy and prices on the rise. Let’s dive into the details!
October Highlights:
Detached Home Sales: 1,431 units (+10.2% MoM, +37.2% YoY)
Semi-Detached Sales: +11.4% MoM, +38.6% YoY
Townhouse Sales: +6.7% MoM, +38.0% YoY
Condo Sales: +13.9% MoM, +43.6% YoY
Price Trends:
Detached Homes Avg. Price: $552,954 (+13.6% YoY)
Semi-Detached Avg. Price: $407,006 (+5.6% YoY)
Townhouses Avg. Price: $307,854 (+19.0% YoY)
Condos Avg. Price: $191,413 (-6.0% YoY)
Days on Market: Properties are selling faster, with an average listing time of 37 days, 9 days shorter than last year. Detached homes are averaging 38 days on market, while semi-detached are down to 29 days!
With demand high and inventory tight, Edmonton's real estate is on fire! Thinking of buying or selling in this dynamic market? Let’s connect and discuss how you can take advantage of these trends. Comment below or reach out directly!
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