Courtesy of Alyssa Kasko

ALYSSA KASKO

July sees first large decrease in Edmonton real estate market

AVG. SALE PRICE Single Family Dwelling $489,370

AVG. SALE PRICE Condo $229,463

ACTIVE LISTINGS 8,325

DAYS ON MARKET 39

Edmonton, August 3, 2022 - Total residential unit sales in the Greater Edmonton Area (GEA) real estate market decreased 23.8% compared to June 2022 and saw a year-over-year decrease of 10.3% from July 2021. New residential listings decreased 14.8%month-over-month from June 2022 but saw an increase of 6.2% from July of last year. Single-family home unit sales were down both 12.4% from July 2021 and 24.4% from June 2022 at 1,159. Condo unit sales also decreased 1.6% from July 2021 and 22.1% from June 2022. Duplex/ rowhouse unit sales were down both 12.7% year-over-year and 21.3% from last month. Single-family homes averaged $489,370, a 5.0% year-over-year increase and a month-over-month decrease of 1.0%. Condominiums sold for an average of $229,463, seeing a small decrease of 4.4% year over-year and 3.7% when compared to June 2022. Duplex prices increased 4.3% from July 2021, selling at $372,864, but saw a 3.9% decrease from June 2022. Single-family homes averaged 33 days on the market, seeing an increase of six days from June 2022. Condos averaged 52 days on the market, increasing by seven days month-over-month, while duplexes averaged 34 days on the market, a five-day increase compared to last month. Overall, all residential listings averaged 39 days on the market, increasing by six days month-over-month, with no change recorded when compared to July 2021. 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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alyssa.kasko@century21.ca