2024 Year in Review

Community Updates & Market Stats
Written By Melissa Saretsky

The Real estate market in Edmonton was busier than Forecasted for 2024. Strong migration into Alberta continued and surpassed exceptions. With Edmonton standing out against other markets due to its affordability.

The MLS HPI Benchmark Price Index showcased Edmonton as a great option for homeowners and investors. Let’s Compare:

Greater Vancouver: $1,271,800

Greater Toronto: $1,045,500

Calgary: $583,300

Edmonton: $392,200

What influenced the trends in 2024?

• Construction of new housing not being able to keep up with demand

• Fear of being priced out of ownership or skyrocketing rent costs

• Edmonton implemented their new zoning bylaw

Edmonton Zoning Bylaws

Edmonton has a combined first ranking across the three categories of approval timelines, government charges, and planning features! Helping to attract investors to create more units. Being able to build different housing products will help grow the supply inventory while helping reduce urban sprawl.

Edmonton Area Averages

Predicted versus Actual Summary

2024 Hot Selling Neighbourhoods

City of Edmonton (Detached)

  • Communitiy of Secord: 205 units sold

  • Community of Chappelle: 192 units sold

  • Community of Keswick: 153 units sold

  • Community of The Uplands: 153 units sold

  • Community of Summerside: 147 units sold

  • Community of Laurel: 147 units sold

City of Edmonton (Semi-Detached)

  • Community of Chappelle: 79 units sold

  • Community of Laurel: 68 units sold

  • Community of The Orchards at Ellersile: 60 units sold

  • Community of Maple Crest: 59 units sold

  • Community of Summerside: 54 units sold

City of Edmonton (Row/Townhouse)

  • Community of Chappelle: 88 units sold

  • Community of Walker: 88 units sold

  • Community of Summerside: 68 units sold

  • Community of Ormsby Place: 64 units sold

  • Community of Casselman: 63 units sold

City of Edmonton (Apartment/Condominium)

  • Community of Wîhkwêntôwin: 365 units sold

  • Community of Downtown: 296 units sold

  • Community of Garneau: 121 units sold

  • Community of Rutherford: 116 units sold

  • Community of South Terwillegar: 109 units sold

  • Community of Clareview Town Centre: 109 units sold

With the housing market going strong in 2024 it will be interesting to see what 2025 has in store for the Edmonton Region!

Melissa Saretsky
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