The Greater Edmonton Area (GEA) saw 2,941 home sales in July, a 3.5% increase from June and 27.1% higher than July 2023, according to the Realtors Association of Edmonton (RAE). New listings came in at 3,729, up 2.9% from June and 13.2% higher than July 2023, however overall inventory dropped 1.4% from June and was down 15.1% from July last year. The aggregate average sales price was $440,466, up 0.4% from June 2024, and a 7.7% increase from July 2023. The MLS Home Price Index composite benchmark price in the GEA was $406,600, down 0.4% from June 2024 and up 7.1% from July 2023. By home type, single-family home sales increased 2.8% from June and were 23.5% higher than July 2023. The average selling price was $552,031, up 2.3% from June and a 9.8% increase year-over-year. Semi-detached home sales dropped 6.6% month-over-month but increased year-over-year by 13%. The average sales price was $406,906, down 3.6% from June and up 7.4% year-over-year. Sales of row/townhomes increased 4.7% over June 2024 and 52% higher than July 2023. The average selling price was $292,072, up 0.7% month-over-month and 10.6% higher than July 2023. Apartment condominium unit sales were 32.3% higher than July 2023 and 11.7% up from June 2024. The average sales price hit $204,315, a 3.4% decrease from June and 4.9% higher year-over-year. “July’s heatwave didn’t stop home buyers from making the most of the market this month.” says RAE 2024 Board Chair Melanie Boles. “The number of sales saw an unexpected bump considering things normally start to taper off after May and June have passed, while the added competition doesn’t seem to have impacted home prices just yet." "The lower inventory available is something to keep an eye on, as we’ve seen the effects too little supply has had on prices in other markets.”
The Greater Edmonton Area (GEA) saw 2,941 home sales in July, a 3.5% increase from June and 27.1% higher than July 2023, according to the Realtors Association of Edmonton (RAE). New listings came in at 3,729, up 2.9% from June and 13.2% higher than July 2023, however overall inventory dropped 1.4% from June and was down 15.1% from July last year. The aggregate average sales price was $440,466, up 0.4% from June 2024, and a 7.7% increase from July 2023. The MLS Home Price Index composite benchmark price in the GEA was $406,600, down 0.4% from June 2024 and up 7.1% from July 2023. By home type, single-family home sales increased 2.8% from June and were 23.5% higher than July 2023. The average selling price was $552,031, up 2.3% from June and a 9.8% increase year-over-year. Semi-detached home sales dropped 6.6% month-over-month but increased year-over-year by 13%. The average sales price was $406,906, down 3.6% from June and up 7.4% year-over-year. Sales of row/townhomes increased 4.7% over June 2024 and 52% higher than July 2023. The average selling price was $292,072, up 0.7% month-over-month and 10.6% higher than July 2023. Apartment condominium unit sales were 32.3% higher than July 2023 and 11.7% up from June 2024. The average sales price hit $204,315, a 3.4% decrease from June and 4.9% higher year-over-year. “July’s heatwave didn’t stop home buyers from making the most of the market this month.” says RAE 2024 Board Chair Melanie Boles. “The number of sales saw an unexpected bump considering things normally start to taper off after May and June have passed, while the added competition doesn’t seem to have impacted home prices just yet." "The lower inventory available is something to keep an eye on, as we’ve seen the effects too little supply has had on prices in other markets.”
