February 2024: A Market on the Rise - Sales Soar 52% in Greater Edmonton Real Estate
Posted by Liv Real Estate on
In February 2024, the Greater Edmonton real estate market experienced significant growth, hinting at an optimistic future for homeowners and investors. Sales soared by an impressive 52% compared to the previous year, totalling 1,966 transactions. Demand remained strong, leading to a decrease in inventory levels by 15% compared to the same period last year, with 4,802 listings at month-end. Despite a 7% increase in new listings, the market's competitive nature kept inventory well below normal levels.
This surge in sales activity can be attributed, in part, to the ongoing population growth in Alberta. As the population continues to rise, rental rates have increased, further motivating individuals to transition from renting to homeownership. This trend…
736 Views, 1 Comments