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 can…

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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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3 Things We Like About Bedrock Homes

Bedrock Homes is part of the Carrington Group, one of the most respected real estate construction companies in the Edmonton area.

Established in 1999, buying your next home from Bedrock Homes would be a sensible and secure choice.

Today it’s possible to buy a Bedrock home in Edmonton, Red Deer, Calgary and the Okanagan Valley in British Columbia.

According to information I found on their corporate website. Bedrock is committed to delivering a quality home and providing excellent service at a value driven price point. What’s not to like?

Bedrock creates quality homes based on thoughtful designs and specifications with a high level of personalization at an affordable price. Most custom home builders…

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

Situated in the southwest corner of Edmonton & developed by Brookfield Residential, Edgemont is fast emerging as one of the most popular & perhaps more affordable communities in which to buy a new home in 2024.

Those families that live in Edgemont enjoy trails, parks & woodland throughout their neighborhood. There is also an active Community League & you can find their website here Edgemont Community League.

First established well over 10 years ago, newer segments of the community open up each year.

I interviewed some of the sale’s people that work for the new home builders in community. They suggested several benefits of living in Edgemont & here they are:

1. A Great Layout

A drive…

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

Kinglet by Big Lake often referred to as ‘Kinglet’ is a new community developed by Anthem Properties Group and situated to the northwest of Edmonton and just southwest of St Albert. Kinglet Gardens is an adjacent community to the south of Kinglet itself and this community was developed by Rohit.

Kinglet residents will enjoy handy access to facilities such as the Edmonton Springs Golf Course and Lois Hole Centennial Provincial Park. Highway 16 is just minutes away and I am told there will be some ‘informal’ access and boat launch points through the woodland preserve to Big Lake itself.

This is a great location for families that want to take advantage of all that Edmonton and St Albert offers.…

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May 2024 Single Family Market Report

Single family home sales volume stayed higher, and prices lifted again.

Sales Prices

Single family homes prices climbed to just under $525,000 in May 2024, compared to around $484,000 in 2023, an increase of 8% over the previous year. We have seen an 8% for the last two months.

I anticipate that prices will start to moderate and flatten as we enter the mature summer market.

Sales Volume

 

There was an even 1400 single family homes sold in May 2024, an increase of 15% over May last year. It should be noted that these sales volumes have moderated considerably since the start of the year when in February for example sales volume surpassed last year by 63%.

Days on Market

 

The average…

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2024 May Condo Market Report

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

Sales Prices

In May 2024 condo sales prices ended 10% up when compared to the same month last year with an average price of around $236,300. The price growth pattern is clear. However, it’s likely that that values will moderate from this point, based on what happened from May onward the previous 2 years.

Sales Volume

In May there were 797 units posted sold on the MLS system compared to 585 last year. On average we have seen condo sales volume exceed sales volume over last year by over 40% for each and every month of 2024.

Days on Market

 

2024 is easily outperforming the previous 2 years in…

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