November brought notable shifts to the Edmonton real estate market, reflecting a blend of rising inventory, stable pricing, and softer sales activity. Here’s a quick breakdown of what’s happening in the market this month.
Inventory Continues to Climb
Edmonton saw 4,451 homes on the market in November, marking a significant 34.1% increase year-over-year. This growing inventory gives buyers more options and may ease some of the competitive pressure we’ve seen in previous months.
Home Prices Hold Steady
The average sales price for the month came in at $424,000. While prices dipped slightly by 1.1% month-over-month, they remain 4.3% higher than this time last year. This indicates continued year-over-year growth despite short-term fluctuations, an encouraging sign for homeowners and sellers!
Sales Slow Heading Into Winter
As is typical for the season, sales activity cooled, with 1,163 homes sold in November. This represents a 14.7% decrease compared to last year. Seasonal patterns and increased inventory likely contributed to the pullback.
Data provided by REALTORS® Association of Edmonton. For more information, visit their website.
