Great Start To 2024!
“Edmonton real estate market is off to a good start for the year, with strong sales and prices compared to last year,” says REALTORS® Association of Edmonton 2023 Board Chair Melanie Boles. “But we’ll be watching our inventory very closely leading up to the spring market. We want enough new listings available to meet the demand that is clearly there.”
Here is what happened in the City of Edmonton for January 2024!
All residential sales average price are up 7.5% year over year and up 2.1% month over month. Due to the low inventory, we are in a Seller’s market with 2.9 months of inventory remaining.
Detached homes are up 5.0% Y/Y but down 2.4$ M/M. This product is still favoring Sellers with 2.7 months of inventory.
Semi detached homes are up 7.1% Y/Y and up 4.8% M/M. Also favoring Sellers with 2.2 months of inventory.
Row/Townhouses have gone up a significant 12.0% Y/Y and 3.5% M/M. Another product in a Seller’s market position of 2.0 months of inventory.
Apartments are up 10.6% Y/Y and up 11.8% M/M. They are in a balanced market, favoring neither seller or buyer with 4.5 months of inventory.
If you are thinking of making a transition in the spring market, now is the time to talk to a professional.
I will be able to help you assess your home’s value and give valuable tips on preparing your home to sell for the best price and quickly.
Call me today!
All about you. Really.
