Infographics: October 2024 RAE Edmonton Market Reports

Interest Rate Impacts Adding Pressure to Edmonton Market

There were a total of 2,489 residential unit sales in the Greater Edmonton Area (GEA) real estate market during October 2024, a 10.5% increase from September 2024 and 38.5% higher than October 2023. New residential listings amounted to 2,934, down 8.7% from September 2024 and up 9.2% higher from October 2023. Overall inventory in the GEA decreased 10.1% month-over-month and sits 17.4% lower year-over-year.

The total number of Detached unit sales was 1,431, an increase of 10.2% over the previous month and 37.2% over the previous year. Semi-detached unit sales increased 11.4% month-over-month and 38.6% year-over-year. Row/Townhouse unit sales increased 6.7% compared to September 2024 and had 38.0% more sales than October 2023. Apartment Condominium unit sales were 43.6% higher than the previous year and 13.9% higher than September 2024.

Total residential average prices came in at $440,089, a 0.1% decrease from September 2024, but reflecting an overall increase of 11.1% compared to October 2023. Detached homes averaged $552,954, showing no change from September 2024 but still 13.6% higher than the previous year. Semi-detached units sold for an average of $407,006, decreasing 1.5% from the previous month and up 5.6% year-over-year. Row/townhouse prices rose 4.9% from September 2024 and sit 19.0% higher than October 2023 with an average selling price of $307,854. Apartment Condominium average prices dropped 4.1% from September 2024 to $191,413, ending the month of October 6.0% lower than the previous year.

Read the full report on RAE website!

The following data is a comparison between October 2024 and October2023 numbers, and is current as of November 2024. For last month’s numbers, check out our previous RAE infographic!

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