01/03/2025
๐ Curious about the Edmonton real estate market? December 2024 did not disappoint! Hereโs what it means for YOU as a buyer or a seller ๐
๐ก Detached Homes: Average price hit $540,232, up from $488,379 last year. With 826 sales and a 99% sale-to-list ratio, sellers are maximizing value, while buyers face strong competition.
๐ฅ Semi-Detached: Averaging $408,823, these properties are selling faster than ever at just 33 days on market. Sellers, the demand is in your favour. Buyers - make sure you are ready to strike as soon as you find the one!
๐ข Condos: Average price is $203,920, remaining budget-friendly. However, with an average 57 days on market, buyers might have more room to negotiate.
๐ Overall Market: The average residential sale price jumped to $435,549, marking a 12% year-over-year increase. Total sales hit 1,428.
๐ What this means for you:
Buyers: Prices are trending upward, so acting sooner rather than later could save you money. Condos may offer the best deals right now! Secure financing and be prepared to negotiate.
Sellers: With a high sale-to-list ratio and faster sales, itโs a great time to list. Proper pricing and marketing are key to help you maximize your return.
โจ Whether youโre buying, selling, or just curious, this is YOUR market to make a move!
Send me a message or give me a call to discuss your real estate moves.
Carolyn Ward
782-234-8255
eXp Realty | Empiria Real Estate Group