Low inventory sets stage for continued seller’s market.
Edmonton, January 3, 2025: There were a total of 1,428 residential unit sales in the Greater
Edmonton Area (GEA) real estate market during December 2024, a 25.4% decrease from November
2024 and 17.2% higher than December 2023. New residential listings amounted to 1,367, down
33.3% from November 2024 and 7.3% from December 2023. Overall inventory in the GEA
decreased 22.5% month-over-month and 24.6% year-over-year.
The total number of Detached unit sales was 826, a decrease of 27.2% over the previous month but
still 18.8% higher than the previous year. Semi-detached sales decreased 15.8% month-over-month
while remaining 18.7% higher year-over-year, coming in at 165 units sold. Row/Townhouse unit
sales decreased 22.9% compared to November 2024 and recorded 13.1% more sales than
December 2023. Apartment Condominium unit sales are still 15.1% higher than the previous year
but slowed 27.1% since November 2024.
Total residential average prices came in at $435,549, reporting no change from the previous month,
but reflected an overall increase of 12.2% compared to December 2023. Detached homes averaged
$540,232, with no change from November 2024, and coming in 10.6% higher than the previous year.
Semi-detached units sold for an average of $408,823, increasing 1.6% from the previous month and
up 12.3% year-over-year. Row/townhouse prices were up 1.4% from November 2024 and were
12.3% higher than December 2023 with an average selling price of $292,640. Apartment
Condominium average prices rose 1.8% from November 2024 to $203,920, ending the month of
December 19.8% higher than the previous year.
The MLS® Home Price Index (HPI) composite benchmark price* in the GEA came in at $403,900,
increasing 0.4% from November 2024 and up 7.8% from December 2023.
“It’s no surprise that we saw a decrease in the number of total residential new listings and unit sales
month-over-month,” says REALTORS® Association of Edmonton 2024 Board Chair Melanie Boles.
“Despite this typical cooling off period of the market, we’re still feeling encouraged about the year
ahead as average prices and unit sales were still ahead from this time last year.”
Detached homes averaged 44 days on the market, an increase of three days from November 2024.
Semi-detached homes increased by one day to 33 days on the market, while row/townhouses
increased two days to 38. Apartment condominiums averaged 57 days on market, an increase of
nine days. Overall, all residential listings averaged 44 days on the market, with a four-day monthover-
month increase and an eight-day decrease in comparison to December 2023.
More information on the MLS® HPI can be found on the REALTORS® Association of Edmonton website or the Canadian Real
Estate Association website.
