The Greater Edmonton Area’s housing market has been gaining momentum ahead of spring, showing residential sales increases of 36.9 per cent in February over January 2024 and 52.6 per cent year-over-year.

New listings for the month amounted to 2,762, up 27.7 per cent since the beginning of the year. Apartment condominium sales increased 46 per cent in February from the previous year and 48 per cent from the previous month.They also went down in price, hitting $181,347, which is around three per cent lower than last February. Condo units are averaging 65 days on the market, showing no change since January.

Row and townhouses, with sales up by 49.2 per cent year-over-year, are currently priced at 9.7 per cent more than last year, selling at an average of $275,735. They are sitting on the market eight days less than the previous month.

Detached sales are also higher since last year, at 60.5 per cent, while the average price increased to $508,411. Semi-detached units sold for an average of $385,163, a 7.7 per cent increase year-over-year,

“It’s expected that the spring market will be busy this year, but when you see detached single family homes are already selling 60.5% more units than last year, it makes you sit up and take notice,” said Realtors Association of Edmonton 2023 board chair Melanie Boles in a press release. “If the month-to month change in sales continues at this pace, then it will be a hot market indeed.”