Edmonton closed 2024 strong
Edmonton wrapped up the year with sales up 19.1% compared to the year before, while inventory dropped 26%. Translation: buyers were moving fast, and there weren't enough homes to go around. The average residential price climbed 12.2% to $417,652.
Row homes and apartments saw even bigger jumps—11% and 21%, respectively. If you were on the fence last spring, you felt that difference by December.
Calgary stayed tight despite more listings
Calgary's December sales dipped 2.9% overall, but detached and semi-detached homes still moved. Inventory climbed 38%, which gave you a bit more choice, yet the months of supply sat at just 2.26—still a seller's advantage.
Prices didn't flinch. The median residential price rose 10.1% to $552,750. The sales-to-new-listings ratio hit 107%, meaning homes were still getting snapped up faster than they came on the market.
Five rate cuts brought buyers back
The Bank of Canada cut rates five times in 2024, ending the year with a 0.50% drop. That thaw brought buyers off the sidelines. TD predicts home sales will climb 16% in 2025, with prices up 8% nationwide.
Federal changes helped too: 30-year amortization for first-time buyers, a higher insured mortgage cap of $1.5 million, and the removal of the stress test for straight switches (when you move your mortgage to a new lender at renewal without changing the amount). Those shifts are already making affordability feel less like a pipe dream.
What this means for your next move
If you're buying: dust off that pre-approval. Rates are falling and demand is heating up. Waiting means stiffer competition and higher prices, especially heading into spring.
If you're selling: this is your window. Prices are climbing and buyers are eager to lock in before rates drop further. The first half of 2025 could be your best shot.
Don't wait for the perfect moment—make one
The best time to act is when you're ready, not when the market tells you to. If 2025's momentum feels right for you, let's build a strategy that fits your timeline and your goals. That's what we're here for.
