Monthly Market Update- February 2025

Let's dive right into The Edmonton housing market for the month of January, 2025 has experienced notable growth and dynamism as of January 2025, presenting both opportunities and challenges for buyers, sellers, and investors. This comprehensive overview delves into the latest statistics, trends, and insights to provide a clear understanding of the current landscape.

Overall Market Performance

In January 2025, the Greater Edmonton Area (GEA) recorded 1,597 residential unit sales, marking a 12.1% increase from the previous month and an 11.2% rise year-over-year. New listings surged to 2,452, reflecting an 83.5% month-over-month jump and a 12.9% annual increase. Despite this influx, overall inventory remains tight, with a 6.9% month-over-month increase but an 18.2% annual decline.

Average Home Prices

The average residential price in Edmonton reached $438,278 in January 2025, showing a minimal 0.8% increase from the previous month and a 9.9% rise compared to January 2024.

Detached Homes

Detached homes continue to be highly sought after. The average price for these properties was $561,282, an increase of 4.2% from December 2024 and a significant 16.2% rise from January 2024.

Semi-Detached Homes

Semi-detached units sold for an average of $420,844, increasing 3.0% from the previous month and 11.2% year-over-year

Row/Townhouses

Row/townhouse prices were up 6.6% from December 2024 and were 15.8% higher than in January 2024, with an average selling price of $311,866.

Apartment Condominiums

Apartment condominium average prices fell 0.8% from December 2024 to $202,663 but still ended the month 4.9% higher than the previous year.

Market Supply and Demand

The sales-to-new-listings ratio stood at 0.67, indicating a seller's market. Notably, new housing starts in Alberta were down 31.3% in December, which could lead to even tighter inventory soon.

Opportunities for Buyers and Sellers

For buyers, the increase in listings provides more options, but acting swiftly is crucial as properties are selling faster than before. For sellers, the current market conditions are favorable, with homes likely to sell quickly at prices close to the asking price.

Conclusion

The Edmonton housing market in January 2025 showcases robust activity, with rising prices and a competitive environment. Whether you're considering buying, selling, or investing, staying informed and consulting with local real estate professionals can help you navigate this dynamic market effectively.