Total residential unit sales in the Greater Edmonton Area (GEA) real estate market for January 2024 came to 1,439, an increase of 17.5% from December 2023, and 46.8% higher than January 2023. New residential listings amounted to 2,195, a number 49.3% higher than in December 2023, and 2.3% lower than January 2023. Overall inventory in the GEA decreased 1.9% from December 2023 and 12.1% from January 2023.

For January, detached unit sales totalled 876, higher than the previous month by 25.0%, and up 51.0% from the previous year. Semi-detached unit sales held steady at just 0.7% higher month-over-month but showed an increase of 41.0% year-over-year. Row/Townhouse unit sales had a similar nominal increase of 0.5% compared to December 2023 and an increase of 31.1% from the previous year. Apartment Condominium unit sales also saw a significant year-over-year increase coming in at 50.0% over January 2023, and increased 16.9% from the previous month.

Total residential average prices came in at $398,724, a 2.5% increase from December 2023, and a 7.6% increase from January 2023. 

Detached homes averaged $484,365, decreasing 1.0% from December 2023 and up from the previous year by 7.3%. Semi-detached units sold for an average of $378,421, resulting in a 6.6% increase year-over-year, and a 4.0% increase from the previous month. Row/townhouse prices were up 2.8% from December 2023 and 8.6% when compared to January 2023, selling at an average of $268,948. Apartment Condominium average prices hit $192,660, increasing 12.8% over last month and 1.1% higher than the previous year.

The MLS® Home Price Index (HPI) composite benchmark price* in the GEA came in at $376,700, decreasing 0.1% from December 2023, and a year-over-year increase of 2.9% from January 2023.

Detached homes averaged 60 days on the market, increasing seven days from December 2023. Semi-detached homes averaged 53 days on the market, an increase of 12 days from the previous month, and row/townhouses’ days on the market increased three days to 53. Apartment condominiums averaged 65 days on the market, showing a nine-day increase from December 2023.

Overall, all residential listings averaged 59 days on the market, a month-over-month increase of 7 days and a 7-day decrease when compared to January 2023.

Considering buying or selling? I love to help!

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

Read Full Market Stats Report
Start Home Search
Start Home Evaluation