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Edmonton's Cooling Market: Opportunities for Sellers, Buyers, and Investors | August 2024 Market Update

Let's break down the important factors for Sellers, Buyers, and Investors based on the market data from the Greater Edmonton Area (GEA) real estate report.

The Market is Shifting - Is Now the Right Time to Sell? While we saw an 11.8% decrease in residential unit sales from July, the market is still 15.8% higher than last year! Detached homes in Edmonton are still holding strong with a 12.5% year-over-year increase in sales and prices up 10.2% over August 2023. If you’re considering selling, now could be the perfect time to take advantage of the upward trend.

🔑 Key Stats for Sellers:
• Average Detached Home Price: $546,101 (+10.2% YoY)
• Days on Market: 35 days (up slightly but still competitive!)
• Inventory is down, meaning less competition for your home!

With new listings on the rise (+7.7% YoY), there are more options for buyers in the Edmonton market, despite a slight monthly dip. Semi-detached and apartment condo sales are up, offering diverse opportunities for first-time homebuyers or those looking to upsize.

📈 Key Stats for Buyers:
• Semi-Detached Home Prices: $414,526 (+10.9% YoY)
• Apartment Condos: $203,742 (+5.1% YoY)
• More homes available with inventory up from last year!

Now could be the perfect time to find your dream home before the market heats up again.

Despite a cooling market from July, we are seeing significant year-over-year growth in property prices, with row/townhouse prices up 14.7% and detached homes up 10.2%. If you're looking to expand your portfolio, now is the time to capitalize on rising prices and growing demand.

📊 Investment Highlights:
• Row/Townhouse Prices: $290,569 (+14.7% YoY)
• Detached Homes: $546,101 (+10.2% YoY)
• Apartment Condos: $203,742 (+5.1% YoY)
• Consistent demand, with unit sales still up 15.8% from last year.

Let’s explore your options in this thriving market!

Read Full Market Stats Report

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New property listed in Zone 21, Edmonton

I have listed a new property at 14435 STONY PLAIN RD in Edmonton. See details here

THE POSSIBILITIES ARE ENDLESS!!! With its prime location, close to downtown, LRT line, kitty-corner to Westblock, MacKinnon Ravine, River Valley Trails, shopping & dining, this property can be your ideal home! With its abundant potential and some creativity, this home can be renovated to suit your needs, or start from scratch and build your dream home tailored to your lifestyle! Don't miss out on this unique opportunity, combined with its prime location, this property presents an unparalleled chance to build a residence tailored to your unique lifestyle and visions. Don't miss out on the chance to be part of this revitalized vibrant community *The property next door is available for purchase as well*

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New property listed in Zone 21, Edmonton

I have listed a new property at 15971 106A AVE in Edmonton. See details here

TIRED OF RENTING? THIS IS THE PERFECT, AFFORDABLE STARTER HOME! Located in Britannia, you will find amazing value in this COMPLETELY RENOVATED 2+1 bedroom bungalow which features a total of 1300 sq.ft. + of living space. NEW WINDOWS, LUXURY VINYL PLANK FLOORING, CABINETRY, FIXTURES, TRIM, PAINT, BATHROOM, you just have to move in! This gem is situated in a quiet location on a HUGE RECTANGULAR SHAPED LOT and can be accessed from the back alley...ideal for RV parking! The basement is FULLY FINISHED and features the 3rd bedroom and 4pc bathroom. The cozy GAS STOVE in the basement is perfect for those chilly days! There is POTENTIAL RENTAL INCOME as the basement could be rented as an IN-LAW SUITE! The sunny, south facing back yard is the perfect oasis as you can enjoy the mature fruit trees and private setting. The single detached garage has front drive access! Located closes to schools, downtown, shopping and public transportation. This home is ideal for a young family, first time buyers or investors!

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New property listed in Zone 21, Edmonton

I have listed a new property at 14431 STONY PLAIN RD in Edmonton. See details here

THE POSSIBILITIES ARE ENDLESS!!! With its prime location, close to downtown, LRT line, kitty-corner to Westblock, MacKinnon Ravine, River Valley Trails, shopping & dining, this property can be your ideal home! With its abundant potential and some creativity, this home can be renovated to suit your needs, or start from scratch and build your dream home tailored to your lifestyle! Don't miss out on this unique opportunity, combined with its prime location, this property presents an unparalleled chance to build a residence tailored to your unique lifestyle and visions. Don't miss out on the chance to be part of this revitalized vibrant community *The property next door is available for purchase as well*

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New property listed in Zone 27, Edmonton

I have listed a new property at 14612 137 ST in Edmonton. See details here

WELCOME TO THIS STUNNING GEM IN THE HIGHLY DESIRED COMMUNITY OF CUMBERLAND! Be prepared to be wowed when entering this 2 storey home. Too hot outside? Not to worry...this home has CENTRAL A/C! Entertaining even the largest gathering is a breeze in your formal dining room which backs onto your bright & open SPACIOUS living room. A CORNER FIREPLACE provides a nice, cozy atmosphere. Your kitchen features ample cabinetry, CORNER PANTRY, ISLAND, BREAKFAST NOOK & PATIO DOORS which lead to your PRIVATE, INCREDIBLE 2-TIERED DECK! Enjoy the convenience of the MAIN FLOOR LAUNDRY & 2pc bathroom. Upstairs, you'll find an INCREDIBLE BONUS ROOM, 4pc bath, a STUNNING PRIMARY SUITE, complete with a WALK-IN CLOSET, 4PC ENSUITE with SOAKER TUB! There are two additional bedrooms completing the upper level. The FULLY FINISHED BASEMENT offers a REC ROOM, 2 additional bedrooms & a 4pc bathroom. Your sunny backyard complete w/ storage shed is fully fenced with loads of room to relax in. The DBL ATTACHED GARAGE is HEATED!

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