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Edmonton, June 4, 2024: There were a total of 3,220 residential unit sales in the Greater Edmonton Area (GEA) real estate market during May 2024, showing increases of 3.3% over April 2024, and 18.9% over May 2023. New residential listings amounted to 4,325, a number 13.4% higher than in April 2024, and 12.6% higher than May 2023. Overall inventory in the GEA increased 6.9% from April 2024, but is still 17.1% lower than May 2023.

Detached unit sales totalled 1,894, an increase of 2.4% over the previous month, and 12.5% higher than the previous year. Semi-detached unit sales increased 3.2% month-over-month and showed an increase of 19.4% year-over-year. Row/Townhouse unit sales also increased 6.1% compared to April 2024 and 21.2% compared to the previous year. Apartment Condominium unit sales also increased 45.8% over May 2023, and 4.5% over the previous month.

Total residential average prices came in at $441,350, a 2.2% increase from April 2024, and 5.0% increase from May 2023. Detached homes averaged $546,390, increasing 3.0% from April 2024 and up from the previous year by 6.8%. Semi-detached units sold for an average of $414,116, increasing 1.8% from the previous month, and up 8.4% year-over-year. Row/townhouse prices remained steady, showing no change from April 2024 but coming in 16.2% higher compared to May 2023, selling at an average of $294,742. Apartment Condominium average prices hit $206,591, increasing 2.6% over last month and coming in 6.9% higher than the previous year.

The MLS® Home Price Index (HPI) composite benchmark price* in the GEA came in at $399,900, increasing 1.1% from April 2024, and 6.1% from May 2023.