Courtesy of Jen Haukedal and Jay Love

Edmonton Market Sees Year-Over-Year Growth in Detached Average Price

$193,218 apt./ condo DOWN 8.1% year-to-year

$512,338 detached UP 1.2% year-to-year

AVERAGE SALE PRICES

$253,417 row/ townhouse DOWN 4.3% year-to-year

2,719 SOLD LISTINGS 3,918 NEW LISTINGS

detached 2,398 712

apt./ condo

detached 1,692

369 apt./ condo

ACTIVE LISTINGS 7,101

69% SALES TO NEW LISTING RATIO

42 DAYS ON MARKET

2.6 MONTHS OF INVENTORY

Edmonton, June 2, 2023 - Total residential unit sales in the Greater Edmonton Area (GEA) real estate market for May 2023 hit 2,719, decreasing 6.8% on a year-over-year basis but increasing 34.4% last month. New residential listings were down 17% year-over-year, while in a month-over-month basis, an increase of 14.2%. Total residential average prices hit $420,507, a 1.5% decrease year-over-year, and an increase of 2.8% month-over-month. Row/townhouse prices were down 4.3% year-over-year and 3.1% month-over-month. Apartment Condominium average prices hit $193,218, showing decreases of 0.3% from last month and 8.1% year-over-year.

“We’ve certainly seen the real estate market come to life in the month of May,” says REALTORS ® Association of Edmonton 2023 Board Chair Melanie Boles. “Although small, there were improvements in the year-over-year detached average prices as well as row/townhouse and apartment condominium unit sales. Overall, all residential listings averaged 42 days on the market, increasing by 13 days year-over-year and dropping two days from April 2023. Statistics reflect market activity in May 2023 | Source: REALTORS ® Association of Edmonton | Market values stated are of the average of Edmonton and surrounding region. Individual home market values will vary and are affected by factors such as location, size, interior and exterior condition. Please call to get an up-to-date evaluation of your home.

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