December 2024 Stats

Thinking about buying or selling this spring 2025 in the Edmonton area? Here are our  five key insights from the December 2024 market statistics you NEED to know:

1. Seller’s Market Conditions
   With an overall year-by-year decrease in inventory, the market strongly favors sellers. Limited supply means increased competition among buyers, which can drive up offers and lead to quicker sales.
2. Rising Home Prices
   Average residential prices have climbed by 12.3% compared to December 2023. This upward trend in property values signals growing confidence in the market and increasing demand.
3. Quick Sales
   The average days on market for all residential listings is now just 44 days—7 days fewer than this time last year. Homes are selling faster, meaning buyers need to act quickly to secure their dream home.
4. High Demand Across Property Types
   Sales have increased across all categories, including detached homes, semi-detached homes, townhouses, and apartment condos. Sellers can feel confident that there’s strong interest in every type of property on the market.
5. Stable Month-Over-Month Prices
   While prices have risen over the year, they remained steady from November to December 2024. This could indicate a short-term plateau, providing a window of opportunity for buyers to enter the market before further increases.

These insights paint a picture of a competitive market with strong demand and rising prices. For sellers, it’s a prime time to list your property. For buyers, and we cannot stress this enough- preparation and quick action are your KEY to navigate this fast-paced market.

Let’s chat about how these trends impact your 2025 real estate goals—we’re here to help you succeed!