Home Trends From Teresa Koziel

Teresa Koziel | Homes & Gardens Real Estate Ltd.

November Sees Substantial Changes in Edmonton Real Estate

AVG. SALE PRICE Single Family Dwelling $454,541

AVG. SALE PRICE Condo $216,690

ACTIVE LISTINGS 6,414

DAYS ON MARKET 52

Edmonton, December 2, 2022 - Total residential unit sales in the Greater Edmonton Area (GEA) real estate market for November decreased by 14.8% compared to October 2022 and saw a year-over-year decrease of 31.2% from November 2021. New residential listings decreased 22.4%month-over-month from October 2022, with a marginal decrease of 4.3% from November of last year. Single-family home unit sales were down both 36.2% from November 2021 and 18.5% from October 2022 at 708. Condo unit sales saw a decrease of 11.0% from November 2021 and were down 5.6% from October 2022. Duplex/rowhouse unit sales were down both 42.3% year-over-year and 14.1% from last month. Single-family homes averaged $454,541, a small 0.6% year-over-year decrease and a month-over month loss of 1.8%. Condominiums sold for an average of $216,690, with a decrease of 4.0% year-over year and 3.4% compared to October 2022. Duplex prices increased 4.3% from November 2021, selling at $362,606, with a 2.5% decrease from October 2022. Single-family homes averaged 49 days on the market, increasing by five days since last month. Condos averaged 58 days on the market, increasing by three days month-over-month, while duplexes averaged 52 days on the market, increasing by four days as compared to last month. Overall, all residential listings averaged 52 days on the market, increasing by five days month-over-month and a three-day change being recorded from November 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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