As of early April 2025, the Greater Edmonton Area (GEA) real estate market is exhibiting notable activity and growth.Here’s a detailed overview based on the latest available data:
Sales Activity:
- In March 2025, the GEA recorded 2,494 residential unit sales, marking a 36.9% increase from February 2025and a 1.3% rise compared to March 2024.
New Listings and Inventory:
- There were 3,780 new residential listings in March 2025, representing a 44.5% month-over-month increase and a 7.5% year-over-year rise.
- Overall inventory increased by 16.6% compared to February 2025, though it remained 8.1% lower than March 2024 levels.
Average Residential Prices:
- The average residential selling price reached $460,685 in March 2025, reflecting a 2.5% increase from February 2025 and a 9.3% climb compared to March 2024.
Price Breakdown by Property Type:
- Detached Homes: Average price of $574,872, up 1.2% month-over-month and 11% year-over-year.
- Semi-Detached Homes: Average price of $430,646, increasing 2.3% from February 2025 and 5.4% from March 2024.
- Townhouses/Row Units: Average price of $314,791, rising 4.6% month-over-month and 11% year-over-year.
- Apartment Condominiums: Average price of $217,701, a slight 0.2% increase from February 2025 and a 12% increase compared to March 2024.
Market Conditions:
- The Sales-to-New-Listings Ratio (SNLR) stood at 66% in March 2025, indicating a seller’s market.
- The Sales-to-Inventory Ratio was 51%, up from 44% in February 2025, further emphasizing favorable conditions for sellers.
Days on Market:
- The median number of days on market for sold single detached homes was 27 days in the fourth quarter of 2024, down from 35 days in the same period the previous year.