MARKET UPDATES
Stay Ahead with the Latest Real Estate Market Updates
Keep your finger on the pulse of the real estate market with our timely and insightful updates. Our market reports provide an in-depth analysis of current trends, pricing shifts, and key factors influencing the property landscape.
Whether you're a buyer, seller, or investor, staying informed about the latest market movements is crucial. Explore our comprehensive updates to make smart, strategic decisions in the ever-changing world of real estate.
Alberta's real estate market in November 2024:
Market Shifts Across the Province: Alberta has transitioned into a more balanced market compared to earlier in the year. The sales-to-new-listings ratio (SNLR) sits at 64%, reflecting a slowdown from its peak seller’s market status. While most cities like Edmonton and Red Deer remain seller-dominated, Calgary has entered balanced territory, with an SNLR of 54%
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Rising Home Prices: The average home price in Alberta has increased to $498,949, up nearly 10% from last year. Calgary continues to lead with an average price of $621,943 (up 13.2% YoY), while Edmonton's average price reached $440,366, reflecting an 11.8% growth
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Inventory Trends: While inventory remains tight across most of Alberta, Calgary stands out with a 50% increase in available homes year-over-year. Months of supply in Calgary grew to 2.53, reflecting better availability for buyers. By contrast, Edmonton’s months of supply decreased by 25% YoY, indicating a tightening market
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Demand Patterns: Sales have generally decreased across Alberta, with notable annual declines in Calgary (-18%) and Red Deer (-16%). However, Edmonton experienced a 9.6% sales growth, highlighting regional differences in demand
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Shifting Preferences: High-priced homes in Calgary are gaining traction, while more affordable regions like Lethbridge and Medicine Hat continue to see steady activity. Apartment-style condos are particularly popular as buyers shift toward affordable housing options
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Overall, while Alberta's market shows signs of cooling, the consistent price growth reflects sustained demand, particularly in higher-population centers like Calgary and Edmonton.
