Windermere Edmonton Real Estate Market Overview: July 2024

The real estate market in Windermere, Edmonton, has seen some significant shifts in July 2024. This detailed market analysis covers everything from listing absorption rates to benchmark prices across different property types, offering valuable insights for both buyers and sellers.

Understanding Listing Absorption Rates

One of the key indicators of market health is the listing absorption rate. In July 2024, the absorption rate for total residential properties in Windermere stood at 60%, reflecting a market that favors sellers. Detached properties had a lower absorption rate of 42%, indicating a more balanced market, while apartment condominiums reached a striking 100% absorption rate, showing extremely high demand.

Benchmark Prices: A Mixed Bag

Benchmark prices provide a snapshot of market trends. For total residential properties, the benchmark price in July 2024 was $568,667, marking a decline both month-over-month and year-over-year. Detached properties, however, saw an increase in value, with a benchmark price of $844,421, highlighting a strong demand in this segment. Apartment condominiums, priced at $234,860, experienced a decrease, despite the high absorption rate, which might suggest competitive pricing or lower-end market focus.

Active and Sold Listings: Market Liquidity

The number of active listings versus sold properties offers insight into market liquidity and buyer activity. In July 2024, Windermere had 70 active residential listings, of which 42 were sold. Detached properties had 55 active listings with 23 sales, while the apartment condominium market saw 19 sales out of 15 active listings, further emphasizing its high demand.

Average Days on Market: The Pace of Sales

The average days on market (ADOM) is a critical metric for understanding how quickly properties are selling. In July 2024, the ADOM for total residential properties was 40 days, with detached properties taking slightly longer at 49 days. Apartment condominiums, however, were the fastest movers, with an average of just 28 days on the market, reflecting their strong appeal to buyers.

Conclusion: Navigating the Windermere Market

The Windermere real estate market in Edmonton is currently dynamic, with opportunities for both buyers and sellers. Detached homes are appreciating in value, while apartment condominiums are in high demand, selling quickly. For those looking to make a move in this market, professional guidance is essential.

Buying or selling Edmonton real estate? Contact Gurpreet Ghatehora at 780-951-6530, Realtor® with Royal LePage Magna and the Mani Bagga Team, or visit Edmontonhomesonsale.com for expert advice and a free list of foreclosures. Serving Edmonton and area since 2007, we are proud to be ranked among the top 100 agents in Canada by RankMyAgent from 2021 to 2023.

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