Dear Readers,
I'm excited to share with you the latest insights into the bustling real estate market in Edmonton for the month of April 2024. This past month has been marked by remarkable growth and record-breaking figures, indicating a thriving market landscape.
In April 2024, the average price of a home in the Edmonton area soared to an all-time high of $431,387. This represents a notable 5.6% increase compared to the previous year, showcasing the robust demand for properties in our region. The benchmark prices also experienced a healthy growth of 4.4% annually, reaching $397.2k.
Detached Homes: Average prices for detached homes witnessed a significant surge, rising by 5.9% year-over-year and 2.5% month-over-month to $529,957. This segment continues to attract buyers seeking spacious and independent living spaces.
Semi-Detached Homes: While semi-detached home prices increased by 7.4% year-over-year, there was a slight decline of 0.5% month-over-month, bringing the average price to $406,674.
Townhouses: Townhouse properties saw remarkable growth, with average prices jumping by 13% year-over-year and 4.2% month-over-month to $294,417. This segment remains popular among first-time buyers and families looking for affordable yet stylish housing options.
Apartments: The apartment market also experienced positive momentum, with average prices rising by 4.4% year-over-year to $200,968. Compared to the previous month, apartment prices saw a 3.5% increase, reflecting strong buyer interest in this segment.
Opportunities for Buyers:
For prospective homebuyers and home seller, so called balanced market. With a variety of housing options available and mortgage rates remaining unchanged, now is an excellent time to explore the market and make informed decisions.
If you're considering buying or selling a property in the Edmonton & surrounding towns or areas, don't hesitate to reach out to us. Our team of experienced professionals is here to guide you through every step of the process, ensuring a smooth and successful transaction. Feel free to contact us for a complimentary consultation and personalized assistance tailored to your needs.
Stay up-to-date with the latest real estate trends and market updates by visiting our website [Your Website Link]. We regularly publish informative blogs and articles to keep you informed and empowered in your real estate journey.
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Thank you for taking the time to read my April 2024 Edmonton Real Estate Market Report. We look forward to assisting you with all your real estate needs and helping you achieve your goals.
Best regards,
Reggie Sandhu
KIC Realy