The Edmonton real estate market is buzzing with activity in October 2024, and whether you're a homebuyer, seller, or real estate investor, now is the time to understand the trends that are shaping the market. At Vital Home Realty, we’re your trusted Edmonton real estate experts, guiding you to make smart decisions and seize the best opportunities.


Current Edmonton Real Estate Trends in October 2024

As we move deeper into the fall market, Edmonton’s real estate sector remains stable and dynamic. We’re seeing consistent activity across both residential and investment properties, with a few notable trends:

  • Home Prices: The average price for a single-family home in Edmonton is $480,000, showing a steady year-over-year growth. Condos are…

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3 Great Reasons to Make a Townhouse Your Next Home

 

Understandably, most new home buyers will, if they can, buy a single-family home over anything else. However, a townhouse might be a better choice. Here are 3 great reasons to consider making a townhouse your next home.

1. Value

Townhouses are less expensive. Compare the selling prices of townhouses to single family homes and the value is obvious. At the time of writing ie Augst 2024, the average selling price of a townhouse is less than $300,000, compared to over $745,000 for a detached single-family home. Townhouses are simply more affordable.

2. Generous Living Space

Townhouses are usually far larger than apartments and often equal to or perhaps even larger than some single-family…

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What’s It Like to Live in the Perch at Mattson Community?

Here are 3 things we like about the Perch at Mattson community.

1. The Best of Both Worlds

The community is being developed by Melor and Carrington. Perch at Mattson is a new community tucked in alongside more established communities such as The Orchards, Summerside and Walker. This gives you the best of both worlds. You can select a brand-new home built to the best and most current technological standards, but also enjoy the amenities of these more established nieighbourhoods including schools, shops and professional services.

Bedrock Homes, a builder that is part of the Carrington group is creating some wonderful home ownership opportunities in this community. You can read more…

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5 Reasons to Think Twice Before You Buy a Home With a Side Entrance

Many home buyers are convinced that they need a side entrance home. That is until we help them think through the pros & cons.

1. Cost of Construction & Low ROI

Have you factored in the cost of construction to your plan? Building a good quality basement suite could easily cost $50,000 to $75,000. It could take between 4 & 6 years of solid renting to pay for the construction costs. And given that most people who buy a new home move again within 3 to 5 years according to a senior member of the new home build community, it might not be worth it.

2. Less Security

A side entrance offers another entry way for intruders in a place that is often dark & away from prying…

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2024 July Condo Market Report

The Edmonton condo market is doing very well. Sales volume has remained strong. Prices continue to rise, particularly townhomes.

Sales Prices

In July 2024 condo sales prices ended 8% up when compared to the same month last year with an average price of around $233,000, a little down on the previous month. We think that this might be a simple dip and we expect prices to stay healthy for the balance of the year, driven primarily by townhome sales, rather than apartment style condo sales, the prices for which are essentially flat.

Sales Volume

Theres no shortage of demand. In July there were around 770 units posted sold on the MLS system compared to around 495 last year, an increase of 56%.

Days on…

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July 2024 Single Family Market Report

Single family home sales volume stayed high. Prices rebounded after a slight dip in June, but may moderate as the year matures.

Sales Prices


Single family home prices recovered in July after a slight dip in June to average around $532,000 in July 2024, compared to around $485,000 in 2023, an increase of 10% over the previous year.

Sales Volume

 

There was around 1240 single family homes sold in July 2024 which is about the same as in June. We would expect any further increases to be modest for the rest of the year or as is more likely a soft decline in sales volume as the year matures. This is quite normal.

Days on Market

 

The average number of days on market in July 2024 was 31…

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What’s It Like to Live in the Alces Community?


Alces is a new community quickly taking shape in the southeast quadrant of Edmonton. The two most prominent developers are Cantiro and Carrington. The third quadrant is being developed by a contingent of smaller investors.

One of the most prominent builders in the community is Bedrock Homes. You can read more about this builder by clicking this link: 3 Things We Like About Bedrock Homes.

Here are 3 things we like about the Alces community.

1. A Wide Price Range

At the time of writing, most homes being offered are single-family homes. Some have double attached garages and others are laned homes offered with a pad to build your garage. Or in the case of Bedrock Homes for example, they…

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3 Things We Love About Brand New Communities

1. Everyone is Looking for Connection

New communities are full of newcomers. Folks that left their friends & family behind & everyone is in the same boat. Drive or walk around a new community during the summer months & you will find neighbours talking to neighbours getting to know one another & solving problems together. Wondering who can build that deck, fence or do your landscaping? Chances are a neighbour has the answer. Many of our clients report that they have made lifelong friends if they were one of the first families to move into a new community.

2. You Get the Latest Best Technology & Design

A home built today is simply superior in every way to a home built 20 plus years ago. The…

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2024 June Condo Market Report

The Edmonton condo market is alive and well. Sales volume is remains very strong. Prices continue to rise, particularly townhomes.

Sales Prices

 

In June 2024 condo sales prices ended 10% up when compared to the same month last year with an average price of around $246,000. This is the highest price point over the last 3 years. However, its worth noting that the number is skewed by improving condo townhomes prices. Apartment style condo prices have been slower to improve and in many cases are still significantly lower than years gone by. If you are a seller, this might be a challenge. If you are a buyer could this represent an opportunity?

Sales Volume

In June there were 731 units posted sold on MLS…

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June 2024 Single Family Market Report

Single family home sales volume stayed high. Prices have softened now that the spring market is over.

Sales Prices

Single family homes prices averaged around $516,000 in June 2024, compared to around $468,000 in 2023, an increase of 10% over the previous year. However, prices have started to moderate now that we have entered the mature summer market.

Sales Volume

There was around 1240 single family homes sold in June 2024, an increase of just 3% over June last year. We expect any further increases to be modest for the rest of the year given that the market dramatically overperformed for the first half of the year.

Days on Market

The average number of days on market in June 2024 was…

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