Heidi Hromada

 

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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.


The MLS® Home Price Index (HPI) composite benchmark price* in the GEA came in at $410,700, a 6.8% increase from July 2021, with a nominal decrease of 1.4% recorded from June 2022.


“This is the first time this year that we’ve seen such large decreases in our month-over-month statistics in the Edmonton real estate market,” says REALTORS® Association of Edmonton Chair Paul Gravelle. “Although July is typically a slower month for real estate due to holidays, we expect to see a continued downward trend as we get closer to the start of fall.”


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.


*The MLS® Home Price Index (HPI) is a measure of real estate prices that provides a clearer picture of market trends over traditional tools such as mean or median average prices. It is designed to be a reliable, consistent, and timely way of measuring changes in home prices over time. 

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Edmonton, July 5, 2022: Total residential unit sales in the Greater Edmonton Area (GEA) real estate market decreased 9.2% compared to May 2022 and saw a year-over-year decrease of 4.6% from June 2021.


New residential listings decreased 8.3% month-over-month from May 2022, but there was an increase of 4.1% from June of last year.


For June, single-family home unit sales were down 8.2% from June 2021, and decreased 11.6% from May 2022 at 1,534. Condo unit sales increased 1.8% from June 2021 but were down 4.3% from May 2022. Duplex/rowhouse unit sales were down both 4.7% year-over-year and 11.6% from last month.


Single-family homes averaged $494,302, a 4.5% year-over-year increase and a month-over- month increase of 0.3%. Condominiums sold for an average of $238,377, seeing a small decrease of 1.6% year-over-year, and down 0.3% when compared to May 2022. Duplex prices increased 9.1% from June 2021, selling at $387,811, but saw a 2.0% decrease from May 2022.


The MLS® Home Price Index (HPI) composite benchmark price* in the GEA came in at $416,700, an 8.3% increase from June 2021, with a nominal decrease of 0.1% recorded from May 2022.


“We continue to see a gradual decrease across the board in the Edmonton real estate market,” says REALTORS® Association of Edmonton Chair Paul Gravelle. “As interest rates and inflation continue to rise, we anticipate that we will see further impacts on the housing market in the days to come.”


Single-family homes averaged 27 days on the market, seeing an increase of four days from May 2022. Condos averaged 45 days on the market, increasing by one day month-over-month, while duplexes averaged 29 days on the market, a four-day increase compared to last month. Overall, all residential listings averaged 33 days on the market, increasing by four days month-over- month and down two days as compared to June 2021.


*The MLS® Home Price Index (HPI) is a measure of real estate prices that provides a clearer picture of market trends over traditional tools such as mean or median average prices. It is designed to be a reliable, consistent, and timely way of measuring changes in home prices over time. 

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