Alberta Real Estate Market Trends – 2024 Overview

The Alberta real estate market in 2024 shows great strength and change. Trends in the Real Estate Market Alberta point to a field full of chances and growth. With an average home price of $475,000, the market looks strong and changing for everyone involved.

Calgary and Edmonton are leading the market’s growth. Calgary’s home prices hit $550,000, up 6% from last year. Edmonton’s prices are at $440,000, showing steady growth. The market has a tight supply of just 1.7 months, showing strong demand and competition.

New Homes Alberta sees big economic factors pushing the real estate sector. With a 3% GDP growth forecast and a 5% unemployment rate, the market is strong and appealing.

• Alberta’s average home price increased 5% from 2023
• Calgary and Edmonton demonstrate strong market performance
• Tight residential market supply of 1.7 months
• Stable economic indicators support real estate growth
• Interprovincial migration continues to drive market dynamics

The Alberta residential property analysis for December 2024 shows a lively real estate scene. It highlights changes in property values across various types of homes. This gives both investors and buyers important information about the market.

In December 2024, the Alberta real estate market was strong. It had several important points to note:

• Total home sales reached 1,038 units
• Year-over-year sales increased by 23%
• Sales-to-listing ratio maintained balance at 1.0

Residential property analysis in Alberta shows different price trends for different types of homes:

• Detached homes: Average price of $530,481 (10.1% increase)
• Condominiums: Average price of $203,206 (18.1% increase)
• Townhouses: Average price of $267,201 (11.8% increase)

The market showed strong performance with key indicators:

• Average market time for single-family homes: 67 days
• Duplexes and attached homes: Quicker sales at 47 days
• Condominium market time: 85 days

Property value trends in Alberta varied by region:

• Airdrie: Sales of 1,951 units with 8% price increase
• Cochrane: Benchmark prices averaging $565,808
• Okotoks: Sales growth nearly 8% with benchmark prices at $615,708

“The Alberta real estate market continues to show resilience and steady growth across multiple property segments.” – Alberta Real Estate Association

The Alberta real estate market is thriving in 2024. It shows strong growth in many areas. Real Estate Market Trends Alberta highlight this growth well.

Key performance metrics show a vibrant market:

• Average home price in Alberta: $500,173
• Year-over-year price increase: 11.3%
• Total residential sales in November: 5,589 units
• Sales-to-new listings ratio: 86%

Property value trends in Alberta show a strong seller’s market. This is due to less inventory and more demand. The benchmark home price hit $506,700, showing the market’s strength.

“Alberta’s real estate market demonstrates exceptional stability and growth in 2024” – Real Estate Experts

Looking at different cities, we see interesting trends. Calgary and Edmonton have their own market stories:

• Calgary average home price: $507,706 (8% year-over-year increase)
• Edmonton average home price: $438,973 (6.5% year-over-year increase)

Different types of properties are doing well, too. Apartment condos saw the biggest jump at 14.2%.

The Alberta real estate market in 2024 is showing strong growth and resilience. Both investors and homebuyers are seeing big changes. These changes highlight the province’s strong property market.

Looking at the housing market forecast, Alberta’s sales performance is quite interesting. In December 2024, home sales hit 2,847 units, up 10% from last year. The sales-to-new-listings ratio was 77%, showing strong demand.

• Total home sales in Alberta: 84,481 units (record high)
• Average days on market for residential listings: 30 days
• Year-over-year sales increase: 23%

Alberta’s real estate market shows different price trends for various property types. The forecast highlights big price changes:

The Alberta real estate market is shaped by key market forces. Active homes for sale number 11,135, with an average price of $1,324,627. The market is very adaptable, with prices rising 0.4% monthly and 7.8% yearly.

“Alberta’s real estate market continues to show remarkable strength and great investment opportunities,” says a local market analyst.

The Alberta real estate market shows different trends in various areas. Calgary and Edmonton are key players, each with its own market dynamics and investment chances.

In 2024, Calgary’s housing market saw big changes. The average home price went up by 3.7%, from $571,600 to $592,500. There was a small increase in sales, with 2,174 homes sold compared to 2,171 the year before.

Edmonton’s housing market grew a lot, with a 7.7% increase in home prices. Sales jumped by 27.5%, from 19,799 to 25,252 homes.

“Alberta’s real estate markets demonstrate resilience and attractive investment opportunities across different regions.” – Real Estate Market Analyst

• Calgary’s luxury home market starts at $750,000
• Edmonton shows high demand for homes between $300,000-$500,000
• Condominium markets remain stable with existing inventory

The Alberta real estate market offers many chances for investors and buyers. Each area has its own special features and growth possibilities.

The Alberta residential property analysis shows a changing landscape in 2024. Investors and homebuyers see big changes in different property types. Each type offers its own chances and challenges.

Detached homes are key in Alberta’s real estate. In December 2024, they had a strong performance. The average price was $581,300, up 6% from last year.

The market is doing well thanks to high demand and not enough homes for sale.

• Average price: $581,300
• Year-over-year growth: 6%
• Key markets: Calgary, Edmonton showing significant appreciation

The condominium market is interesting in Alberta. Apartment-style homes saw a 12% price jump, reaching $299,472 on average.

“Condominiums offer an attractive entry point for first-time buyers and investors seeking affordable urban living,” says local real estate expert.

Row homes are becoming more important in Alberta. They have an average price of $373,038, up 9% from last year. This shows they have a lot of market promise.

The diverse property landscape in Alberta offers multiple investment strategies for discerning buyers, with each segment presenting unique value propositions.

The Alberta real estate market in 2024 is complex. It shows how supply and demand affect the housing market. Recent data gives us important insights into these dynamics.

Looking at the supply side, we see some interesting trends:

• New listings went up by 11.7% from the last quarter
• Active listings rose 6.0% from the last quarter
• Properties under construction increased by 4.0% from the last quarter

On the demand side, the picture is just as compelling. Alberta’s population grew by 1.0% in Q2 2024. This growth keeps the demand for housing high. The sales-to-new listings ratio gives us key insights into the market:

“The Alberta real estate market continues to show resilience amid changing economic conditions.” – Alberta Real Estate Association

Residential sales went up by 2.5% from Q2. This shows the market is interesting to people. The average home price in Alberta also rose by 1.1% from the last quarter. This shows the market is stable.

Investors and homebuyers need to understand the market’s nuances. The months of inventory went from 2.4 to 2.6. This suggests the market is slowly getting back to normal.

Alberta’s real estate market is full of great investment chances. The province’s strong economy and rising property values make it a top spot for investors. It’s a place where you can find solid returns on your investment.

There are many ways to make the most of Alberta’s real estate market. The current state of the market offers several paths to wealth through property investments.

Calgary and Edmonton are the best places for real estate investments. They have strong markets and offer good returns. Here are some key investment facts:

• Calgary’s rental property ROI ranges from 8-12%
• Edmonton shows consistent price appreciation across property types
• Emerging neighborhoods with significant growth

Strategic investment requires understanding emerging market dynamics. Places like East Village in Calgary and new suburban areas are great for smart investors.

“Alberta’s real estate market represents a balanced and promising investment landscape with strong long-term growth.” – Real Estate Experts

Key investment strategies include:

1. Long-term appreciation properties
2. Rental income investments
3. Fix-and-flip opportunities
4. Real Estate Investment Trusts (REITs)

With Alberta’s population growing fast and a strong economy, investors have many options. They can explore different real estate investment opportunities across the province.

The Alberta real estate market is changing fast in 2024. Mortgage rates are competitive, affecting how people buy homes. This is important for those looking to invest or buy a home.

In Alberta, mortgage rates offer a range of choices. By February 2024, the market had these rates:

• 5-year fixed rate (insured): 3.99%
• 5-year variable rate (insured): 4.15%
• 3-year fixed rate (insured): 4.09%

“Alberta’s mortgage market offers competitive rates that make homeownership more accessible,” says financial analyst Rebecca Thompson.

Real Estate Market Trends Alberta show a complex financing scene. Key points include:

1. Big banks like RBC, TD, and BMO have good rates
2. Credit unions offer different mortgage options
3. Private lenders help with special financing needs

The prime rate is 5.20%, and the Bank of Canada’s rate is 3.00%. These changes might help stabilize the housing market in Alberta.

When buying a home, think about more than just rates. Consider:

• Personal credit score
• Down payment size
• Long-term financial goals

New tech is making getting a mortgage easier. It makes the process more efficient for people in Alberta looking for home loans.

Alberta’s real estate market is changing fast because of a big increase in population. The province is attracting people from other parts of Canada and even other countries. This is making the housing market in Alberta very different.

Alberta’s population story is exciting for real estate. From 2014 to 2024, the population grew by 19.8%. In recent years, it grew by 4.4%.

Canada’s immigration plan is helping Alberta’s housing market a lot. Here are some important points:

• Alberta gets 25% of Canada’s jobs, even though it only has 12% of the population.
• In 2024, Alberta saw 33,000 new homes built, the highest in a decade.
• People moving from other provinces are creating a big demand for homes.

The people living in Alberta are changing, and so is the real estate market. Population growth is not just a number but a catalyst for housing market evolution.

“Alberta’s population growth is redefining the province’s real estate future” – Real Estate Experts

The housing market in Alberta is expected to keep growing. Prices are expected to go up by 2.4% in 2025. Detached homes might see a 2.7% increase, while condos could see a 0.5% growth.

The luxury property trends in Alberta have seen a big jump in 2024. Calgary stands out, with a 42% increase in home sales over $1 million. This shows strong growth in the high-end real estate market.

For those looking into real estate investment opportunities in Alberta, the luxury market is very interesting. The Calgary CMA saw a huge 100% increase in sales of properties over $4 million. This shows a strong demand for top-notch properties.

“The luxury real estate market in Alberta represents a dynamic and promising investment landscape for high-net-worth individuals.”

• Calgary saw residential sales over $1 million surge by 63% year-over-year
• Properties over $4 million increased from zero to two sales in Q1 2024
• Benchmark property prices reached $583,300 in December 2024

Looking at the market, we see some interesting trends. Single-family homes saw a 7% annual price gain. Semi-detached homes saw an 8% increase. These numbers show Alberta’s high-end property market is strong and promising.

The luxury segment is drawing in sophisticated investors looking for top real estate. With growth in population, specialized market knowledge, and new trends, Alberta’s luxury real estate market is full of opportunities for discerning buyers and investors.

The Alberta real estate market is changing, opening doors for first-time homebuyers. With a growing population and shifting trends, affordable housing in Alberta is getting more attention.

Alberta’s housing market is strong, making it a great time to buy your first home. The province is working hard to make homes more accessible to everyone.

First-time buyers in Alberta have many chances to find their dream home:

• Competitive entry-level home prices
• Targeted financing programs
• Government-supported incentives

“Alberta offers a unique landscape for new homeowners, balancing affordability with quality of life.” – Alberta Real Estate Association

Provincial and local governments are taking steps to improve affordable housing in Alberta:

1. Citywide rezoning in Calgary and Edmonton
2. Support for diverse housing types
3. Incentives for high-density residential development

The Real Estate Market Trends Alberta show a growing and resilient housing sector. Affordable housing prospects are bright, thanks to government support and more homes being built.

The commercial real estate in Alberta is showing strong growth and resilience in 2024. Calgary is a key player, with a 32% jump in investment in the first half of the year. This totals $2.7 billion in transactions.

Alberta’s real estate market offers many investment chances across different areas:

• Multi-family sector: 27% of total investment volume with a 130% year-over-year transaction increase
• Retail sector: $580 million transacted, representing a 46% annual growth
• Industrial sector: $357 million in transactions, showing an 8% year-over-year increase

Calgary’s commercial real estate landscape is experiencing transformative shifts. The office sector saw a 46% drop in dollar volume. Yet, its availability rate fell by 230 basis points to 22.6% – the biggest drop in Canada.

“Alberta’s commercial real estate market is demonstrating remarkable adaptability and great investment opportunities,” says a leading market analyst.

The industrial sector is a standout for investors. With 904,227 square feet of new space and over two million square feet in the works, growth is clear. Calgary’s industrial vacancy rate is just 2.7%, showing high demand.

Notable deals highlight the market’s energy. The $88.4 million sale of the Arris Residence East and the $57 million buy of the Hilton Garden Inn & Homewood Suites in downtown Calgary are examples.

Alberta’s rental market is changing, bringing both chances and hurdles for investors and renters. The Real Estate Market Trends Alberta show a mix of housing supply, demand, and changing demographics.

The rental market in Alberta has seen big changes in recent years. Investors are key, with about 20-30% of Canadian home buyers looking to rent out their properties.

Rental prices in Alberta vary a lot by region:

• Calgary: Seeing small changes in rental prices
• Edmonton: Has a competitive rental market
• Red Deer: Becoming a good spot for rental investments

Alberta has seen big changes in vacancy rates:

Population growth, job market trends, and new construction are key factors in the rental market.

“The Alberta rental market continues to adapt to changing economic landscapes and migration patterns.” – Alberta Real Estate Association

Investors should know about Alberta’s 43% jump in rental housing construction. This shows strong market growth and increasing demand for rentals.

The Alberta real estate market is influenced by many economic factors. These factors help us understand the property landscape in the province.

Alberta’s economy faces both challenges and opportunities for real estate. The province has seen big changes in its economy, affecting key indicators.

• Population growth reached 4.4% in 2023, the fastest in 40 years
• Net immigration totaled 52,500 in 2023
• Interprovincial migration hit a record 55,107 people

The housing market in Alberta shows resilience despite economic ups and downs. Wage dynamics and employment trends are key in shaping real estate trends in Alberta. Alberta’s average weekly earnings are $1,290, 5.8% higher than the national average.

“Alberta’s economic landscape continues to demonstrate remarkable adaptability in the face of global economic challenges.” – Real Estate Economic Review

Housing affordability in Alberta is competitive. The average sold house price is $461,153, 31% lower than the Canadian average. This makes it attractive for investors and homebuyers.

Factors like employment rates, immigration, and diversifying the economy are changing Alberta’s real estate market. This creates a dynamic and promising place for investment.

The housing market in Alberta for 2025 looks promising for investors and buyers. In 2024, prices jumped by 12.57%. Now, they’re expected to grow by 4.5% on average.

Real Estate Market Trends in Alberta show different price paths for homes. Experts predict the following:

• Detached Homes: Expected to stay strong at $802,527
• Semi-Detached Homes: Likely to hit around $683,521
• Townhouses: Forecasted to be about $467,169
• Apartments: Expected to stabilize at $348,558

Several indicators point to a strong real estate market in Alberta for 2025:

1. Economic Growth: Calgary’s 3.2% growth rate is a good sign
2. Population Dynamics: Calgary’s 2.9% growth will boost demand
3. First-Time Buyer Segment: Strong activity in the $350,000 to $450,000 range

“The Alberta real estate market continues to show great resilience and growth,” says a leading analyst.

Investors and buyers can look forward to a balanced market. There will be chances in various types and prices.

The Alberta real estate market is strong and full of chances for investors. Trends show a lively market with great opportunities for smart buyers. Edmonton and Calgary are growing, with house prices up over 8%.

Investing in Alberta real estate in 2024 looks very promising. The market is solid, thanks to more people moving in and a stable economy. You can find good deals in many types of properties, from city apartments to up-and-coming areas.

When looking into real estate, it’s wise to do your homework and get expert advice. The market is good now, with low mortgage rates and rising property values. Think about the long-term and the different areas in Alberta.

For personalized advice and help, call New Homes Alberta at (403) 305-9167. We’re here Monday to Sunday, 9:30am to 8:30pm. We’re ready to help you make smart real estate choices that fit your goals.