Edmonton's April 2024 Housing Market: Strong Growth and Buyer Opportunities

As of May 6th, 2024, Edmonton’s housing market continues to demonstrate strong growth, with the average home price reaching a new all-time high of $431,387. This represents a 5.6% increase over the last year and a 2.5% rise since last month.

Breaking it down by type, detached homes lead the surge with an average price of $529,957, up 5.9% year-over-year. Semi-detached homes also showed notable growth, rising 7.4% annually, despite a slight 0.5% dip from last month. Townhouses reported the most significant annual increase at 13% to $294,417, while apartment prices grew 4.4% year-over-year to $200,968.

With benchmark prices overall climbing 4.4% from last year to $397,200, the current trends highlight strong market resilience and continual demand across all housing types. This dynamic environment presents a promising opportunity for those looking to invest in a home, with competitive mortgage rates such as the current lowest 5-year fixed rate at 4.69%, making now an opportune time to consider stepping into the market.

- Robin