Edmonton, September 3, 2024: There were a total of 2,591 residential unit sales in the Greater Edmonton Area (GEA) real estate market during August 2024, an 11.8% decrease from July 2024, but still 15.8% higher than August 2023. New residential listings amounted to 3,467, down 7.0% from July 2024, and up 7.7% higher from August 2023. Overall inventory in the GEA decreased 1.2% month-over-month and is tracking 13.8% lower than August 2023.

The total number of Detached unit sales was 1,468, a decrease of 14.1% over the previous month but showing an increase of 12.5% over the previous year. Semi-detached unit sales decreased 7.0% month-over-month and showed an increase of 18.8% year-over-year. Row/Townhouse unit sales decreased 3.5% compared to July 2024 and sold 19.2% more than August 2023. Apartment Condominium unit sales were still 22.6% higher than the previous year but were down 14.5% from July 2024.

Total residential average prices came in at $435,094, a 1.2% decrease from July 2024, and a 9.1% increase from August 2023. Detached homes averaged $546,101, decreasing 1.1% from July 2024 and up from the previous year by 10.2%. Semi-detached units sold for an average of $414,526, increasing 1.9% from the previous month, and up 10.9% year-over-year. Row/townhouse prices fell 0.5% from July 2024 but are sitting 14.7% higher than August 2023 with an average selling price of $290,569. Apartment Condominium average prices dropped slightly to $203,742, a 0.3% decrease over last month and coming in 5.1% higher than the previous year. The MLS® Home Price Index (HPI) composite benchmark price* in the GEA came in at $407,200, increasing 0.1% from July 2024, and up 7.6% from August 2023.
“The hot summer season is definitely at an end as we can see clearly from the month-over-month