Housing Market Shows Strong Sales, Still Moderate Prices

Sales continue to outpace last year’s numbers with generous margins. Sellers are doing their best to hold up their end, adding 8.7% more new listings to the market last month, and hopefully, we’ll see even more homes up for sale now that prices are steadily rising.

There were a total of 3,128 residential unit sales in the Greater Edmonton Area real estate market during April 2024, showing increases of 27.1% over March 2024, and 54.9% over April 2023. New residential listings amounted to 3,909, a number 11.2% higher than in March 2024, and 13.7% higher than April 2023.Overall inventory in the GEA increased 2.7% from March 2024, but is still 20.5% lower than April 2023.

Total residential average prices came in at $431,387, a 2.5% increase from March 2024, and 5.4% increase from April 2023.

The MLS® Home Price Index (HPI) composite benchmark price* in the GEA came in at $397,200, increasing 1.2% from March 2024, and 5.4% from April 2023.

Overall, all residential listings averaged 36 days on the market, a month-over-month decrease of 3 days and an 8-day decrease when compared to April 2023.

Do you think you'reu ready to seize the opportunity? Whether you're thinking of selling or buying, NOW could be the perfect time to leverage this strong market!

Tag someone who needs to see these numbers or share this post to keep your friends and family in the loop!

💬 We'd love to hear your thoughts — what do you make of these rising trends?

📞 For a personalized analysis or to jump on these opportunities, just call me! Let’s discuss how these trends can benefit you.

Craig Finnman
RE/MAX Elite
(780) 982-1589⁠
craig@craigfinnman.ca⁠

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