Whether you're a Seller, Buyer, or Investor, here's what you need to know!
With average prices up 1.2% month-over-month and 11.7% higher compared to last year, now is a great time to capitalize on the demand for properties. Detached homes are selling for an average of $552,684, up 11.9% year-over-year! Plus, inventory is lower, creating competition among buyers.
Despite higher prices, there are more opportunities to find your dream home with 3,215 new listings hitting the market. While detached home sales dipped slightly this month, they are still 8.2% higher than last year, so act fast as homes are selling in about 37 days on average.
Row/Townhouse unit sales are up a significant 25.9% from last year, and prices have risen 9.6%! The market for condos is showing resilience with a 2.2% increase year-over-year, making it a great time to explore investment opportunities in multi-unit residential properties.
Even with interest rate cuts, we’re seeing a typical fall market slowdown, but strong year-over-year growth continues. Now’s the time to evaluate your real estate goals and make informed decisions!
Contact me to discuss how you can take advantage of these predictable patterns!
Greater Edmonton Real Estate Market Update – September 2024
