ReportsReportsReports 1 November 2024

Edgemont – October 2024

Edgemont Real Estate Monthly Summary – October 2024


Edgemont Real Estate Monthly Summary – October 2024

Edgemont Real Estate Monthly Summary – October 2024

Market Overview: The Edgemont real estate market showcased notable activity in October 2024 with continued growth in both sales and listings:

  • Sales: A total of 12 residential properties were sold, marking a 50% increase year-over-year (Y/Y).
  • Inventory: Inventory rose by 48% Y/Y, reaching 34 units available.
  • New Listings: 23 new listings came to market, reflecting a 64% Y/Y rise.

Benchmark Prices by Property Type:

  • Detached Homes: $865,500 (+7.2% Y/Y).
  • Semi-Detached Homes: $491,900 (+18% Y/Y).
  • Row Homes: $524,100 (+4.6% Y/Y).
  • Apartments: $278,400 (+1.4% Y/Y).

General Residential Benchmark Price: $724,000, reflecting a 4.6% annual increase.

Key Metrics:

  • Months of Supply: 2.83 months, indicating a balanced to slightly seller-leaning market.
  • Sales-to-New-Listings (S/NL) Ratio: 0.52, suggesting moderate competition among buyers.

Trends and Insights:

  • Detached homes remain the most significant driver of sales, with an annual increase of 175% in activity.
  • The demand for apartments remains subdued compared to other property types, potentially signaling an opportunity for first-time buyers or investors.
  • Market balance is improving with rising inventory levels, providing more options for buyers.

Community Features: Edgemont continues to attract interest for its desirable attributes, including:

  • Recreational Amenities: Access to parks, trails, and community centers promoting outdoor and social activities.
  • Convenient Location: Proximity to key commercial areas, schools, and transport links.
  • Family-Friendly Environment: A strong sense of community with events and activities fostering neighborhood connections.

This blend of vibrant real estate dynamics and appealing community characteristics positions Edgemont as a thriving and sought-after market.

For more detailed market statistics or assistance, feel free to reach out!