Ketiz Singh

Welcome to the 2024 Canadian Real Estate Market Recap!

Hey there, welcome back to Ball PR Real Estate! I’m Matthew Fifer, a real estate agent in Regina, and this is my trusted assistant Matilda. Today, we’re diving into the monthly Canadian real estate market update for the first month of 2025. But first, let’s take a look back at what went down in 2024. Spoiler alert: it was quite a rollercoaster ride!

A Year of Surprises

2024 was a year of highs and lows in the Canadian real estate market. While Toronto experienced one of its toughest years with declining home prices, other cities saw record-breaking sales and price increases. It was truly a year like no other!

Tales from Different Cities

Let’s start our journey in Victoria, where about 6,900 homes were sold in 2024. While it wasn’t the busiest year, it did show an upward trend in sales. What stood out was the increase in new listings, a rare sight in Victoria. With a higher number of active listings, the market is ripe for buyers.

• Explore Victoria’s real estate market trends.

Next up, we have Vancouver, where approximately 26,500 homes were sold last year. Despite some talk of distressed sellers, the market remained stable with a slight increase in prices. With over 27,000 homes for sale this year, buyers have more options, but quality listings are still in high demand.

• Uncover the secrets of Vancouver’s real estate market.

In Calgary, the third busiest year for home sales was recorded in 2024, with over 28,000 homes sold. While the market is slowing down, new listings are on the rise, providing better options for buyers. With a slight increase in inventory, prices are expected to stabilize.

• Decipher the Calgary real estate market trends for 2025.

Edmonton witnessed a red-hot market in 2024, with record sales and price increases. The low inventory and high demand led to month-over-month price hikes, making it one of the top-performing markets in Canada. With fewer homes for sale this year, prices are set to soar.

• Delve into the Edmonton real estate market dynamics.

Regina saw its highest number of homes sold in a year in 2024, creating a strong sellers’ market. With limited inventory and fierce competition, buyers are facing challenges. Despite a rise in Benchmark prices, individual house prices may vary, making each deal unique.

• Navigate the Regina real estate market landscape.

The Future of Canadian Real Estate

As we wrap up our tour of Canadian real estate in 2024, one thing is clear: each city has its own story to tell. While some markets are booming, others are facing challenges. It’s a dynamic landscape that keeps us on our toes.

So, whether you’re a buyer, seller, or just curious about the market trends, stay tuned for more insights and forecasts in 2025. The journey continues, and the opportunities are endless!

Remember, the key to success in real estate is knowledge and preparation. Stay informed, stay proactive, and make the most of the opportunities that come your way. Here’s to a prosperous year ahead!

Thanks for joining us on this real estate adventure. Until next time!