Edmonton continues to stand out as the most affordable city among Canada’s five largest population centers. The latest data for June 2024 reveals interesting trends in the local real estate market.

The average home price in the Edmonton area experienced a slight decline from its all-time high in May, settling at $438,973 in June. This represents a 6.5% increase compared to the same time last year. The benchmark price also saw a healthy annual growth of 7.0%, reaching $408,200.

Price Trends by Property Type

• Detached Homes: Average prices rose 7.8% year-over-year to $539,468. However, there was a slight 1.3% decline compared to May 2024.
• Semi-Detached Homes: These properties saw the highest year-over-year increase at 10.3%, with prices averaging $422,321. They also appreciated by 2.0% month-over-month.
• Townhouses: Year-over-year, townhouse prices grew by 13% to $290,249. However, there was a minor 1.5% decrease from the previous month.
• Apartments: The average price for apartments increased by 8.6% annually, reaching $211,583. This segment also saw a 2.4% rise from last month.

Edmonton’s real estate market remains resilient with steady annual growth across various property types. Despite a few month-over-month declines, the overall trend points to a robust market, making Edmonton a prime location for both buyers and investors.

If you want me to send you market report specifically for your neighbourhood, please do not hesitatet to reach out! I humbly request your feedback on my monthly blogs and let me know how I can improve on sending monthly market reports. 

- Reggie Sandhu

 KIC Realty