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Edmonton, August 2, 2024: There were a total of 2,941 residential unit sales in the Greater Edmonton Area (GEA) real estate market during July 2024, a 3.5% increase from June 2024, and 27.1% higher than July 2023. New residential listings amounted to 3,729, up 2.9% from June 2024, and 13.2% higher than July 2023. Overall inventory in the GEA decreased 1.4% from June 2024 and is tracking 15.1% lower than July 2023.

The total number of Detached unit sales was 1,708, an increase of 2.8% over the previous month, and 23.5% higher than the previous year. Semi-detached unit sales decreased 6.6% month-over-month and showed an increase of 13.0% year-over-year. Row/Townhouse unit sales increased 4.7% compared to June 2024 and sold 52.0% more than July 2023. Apartment Condominium unit sales were still 32.3% higher than the previous year and 11.7% higher than June 2024.

Total residential average prices came in at $440,466, a 0.4% increase from June 2024, and a 7.7% increase from July 2023. Detached homes averaged $552,031, increasing 2.3% from June 2024 and up from the previous year by 9.8%. Semi-detached units sold for an average of $406,906, decreasing 3.6% from the previous month, and up 7.4% year-over-year. Row/townhouse prices rose 0.7% from June 2024 and 10.6% from July 2023, selling at an average of $292,072. Apartment Condominium average prices hit $204,315, decreasing 3.4% over last month and coming in 4.9% higher than the previous year.

The MLS® Home Price Index (HPI) composite benchmark price* in the GEA came in at $406,600, decreasing 0.4% from June 2024, and up 7.1% from July 2023.