Courtesy of Susan Sieg
Edmonton Sees Moderate Growth As Spring Market Blooms
$192,560 apt./ condo DOWN 5.8% year-to-year
$500,635 detached DOWN 4.6% year-to-year
AVERAGE SALE PRICES
$261,390 row/ townhouse DOWN 3.7% year-to-year
2,028 SOLD LISTINGS 3,497 NEW LISTINGS
detached 2,081 641
302 apt./ condo
ACTIVE LISTINGS 6,923
58% SALES TO NEW LISTING RATIO
44 DAYS ON MARKET
3.4 MONTHS OF INVENTORY
Edmonton, May 2, 2023 - Total residential unit sales in the Greater Edmonton Area (GEA) real estate market for April 2023 hit 2,028, decreasing 30.8% compared to April 2022 but increasing 11.1% from March 2023. New residential listings were down 26% year-over-year from April 2022, while also noting an increase of 6% from March 2023. Overall inventory in the GEA was up 7.4% from April of last year, and up 9.3% from the previous month. Total residential average prices hit $408,631, a 6% decrease from April 2022, and an increase of 4.8% from March 2023. Detached homes averaged $500,635, a 4.6% year-over-year decrease and a 3.1% increase from March 2023. Semi-detached sold for an average of $378,797, resulting in a small 3.4% decrease year-over-year, but saw an increase of 3.7% from the previous
month. Row/townhouse prices were down 3.7% from April 2022, but increased 5.5% month-over-month, selling at $261,390. Apartment Condominium average prices hit $192,560, showing decreases of 0.1% from last month and 5.8% from April 2022. “The trend continues with year-over-year dips in average prices, sales and listings across most categories, while still seeing nominal increases in our month-over-month statistics,” says REALTORS ® Association of Edmonton 2023 Board Chair Melanie Boles. Overall, all residential listings averaged 44 days on the market. Statistics reflect market activity in April 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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