Edmonton Real Estate Market Report for June 2024

Edmonton's real estate market slowed in June 2024, with a total of 2,847 residential unit sales, reflecting an 11.4% decrease from May 2024 but a 10.0% increase compared to June 2023. New listings amounted to 3,712, a 14.2% drop from the previous month, yet 2.6% higher than June last year. With the dip in sales, overall inventory saw a slight rise of 1.9% from May 2024, though it remains 15.9% below June 2023 levels.

Average prices showed a mixed trend across housing types. Detached homes averaged $539,468, semi-detached units $422,321, row/townhouses $290,249, and apartment condominiums $211,583. The market saw homes spending less time on the market, with an overall average of 30 days, marking a three-day decrease from May 2024 and an 11-day improvement compared to June 2023.

“In June, we noticed a discrepency in sale prices and days on market across various price ranges. Homes priced under $500,000 are selling rapidly, often receiving multiple offers. In contrast, higher-priced homes ($700,000 and above) show more variability, with some selling quickly while others take longer to find buyers" - Matt Unrau, Park Realty