Edmonton, March 2, 2023: Total residential unit sales in the Greater Edmonton Area (GEA) real estate market for February 2023 decreased 43.4% compared to February 2022 but saw an increase of 31.2% from January 2023. New residential listings were down 12.9% year-over-year from February 2022, while also noting an increase of 15.1% from January 2023. Overall inventory in the GEA was up 20.8% from February of last year, and up 8.5% from the previous month.

For February, detached unit sales were down 50.9% from February 2022, but saw an increase of 24.4% from January 2023 at 725. Semi-detached unit sales were down 47.7% year-over-year but increased by 50% from January 2023. Row/Townhouse unit sales also decreased 33.9% year-over- year and increased 26.4% month-over-month. Apartment Condominium unit sales saw only a minimal decrease of 2.1% from February 2022 but increased 47.7% from the previous month.

Total residential average prices hit $369,286, a 13% decrease from February 2022, and a 0.2% decrease from January 2023. Detached homes averaged $459,600, a 9% year-over-year decrease and a 1.8% increase from January 2023. Semi-detached sold for an average of $357,611, resulting in a small 0.6% decrease year-over-year, with prices down 0.7% compared to January 2023. Row/townhouse prices were down 4.3% from February 2022, but were up 1.4% month-over-month, selling at $251,332. Apartment Condominium average prices hit $187,325, showing both a decrease of 0.1% year-over-year and 0.8% from last month.

The MLS® Home Price Index (HPI) composite benchmark price* in the GEA came in at $371,600 seeing a drop of 5.9% from February 2022, but an increase of 0.8% from January 2023.

“While numbers are not quite where they were at this time last year, we’re still seeing large percentage increases month-over-month in many of the categories,” says REALTORS® Association of Edmonton 2023 Board Chair Melanie Boles. “There’s lots to look forward to as we head into the warmer months and we’re feeling optimistic as we set our sights on the Spring market.”

Detached homes averaged 54 days on the market, an 11-day decrease from January 2023. Semi- detached homes averaged 56 days on the market, increasing six days from the previous month, with row/townhouses averaging 60 days on the market, a decrease of three days month-over-month. Apartment condominiums averaged 65 days on market, showing a large decrease of 17 days from January 2023. Overall, all residential listings averaged 57 days on the market, increasing by 10 days year-over-year and dropping nine days from January 2023.

Edmonton, February 2, 2023: Total residential unit sales in the Greater Edmonton Area (GEA) real estate market for January 2023 decreased 25.8% compared to January 2022 and saw a small decrease of only 0.2% from December 2022. New residential listings were up 8.5% year-over-year from January 2022, while also noting an increase of 94.8% from December 2022. Overall inventory in the GEA was up 13.2% from January of last year, and up 5.3% from the previous month.

For January, detached unit sales were down 32.1% from January 2022, but saw a small increase of 1.4% from December 2022 at 583. Semi-detached unit sales were down 35.9% year-over-year but increased by 2.0% from December 2022. Row/Townhouse unit sales also decreased 5.7% year- over-year and increased 10.4% month-over-month. Apartment Condominium unit sales saw no changes from January 2022 but decreased 12.9% from the previous month.

All residential average prices hit $370,068, a 6.2% decrease from January 2022, and 1.4% decrease from December 2022. Detached homes averaged $451,659, a 2.1% year-over-year decrease and a 4.2% decrease from December 2022. Semi-detached sold for an average of $355,086, resulting in a 5.2% decrease year-over-year, with prices down 0.9% compared to December 2022. Row/townhouse prices increased both 1.2% from January 2022 and 4.4% month-over-month, selling at $247,761. Apartment Condominium average prices hit $189,631, with a 5.5% increase from the previous month and a 2.3% drop year-over-year.

The MLS® Home Price Index (HPI) composite benchmark price* in the GEA came in at $368,800, seeing both a 3.7% decrease from January 2022 and 1.2% from December 2022.

“The Edmonton real estate market remained relatively stable from December as we transitioned into the new year,” says REALTORS® Association of Edmonton 2023 Board Chair Melanie Boles. “While many categories saw minimal decreases month-over-month, average prices for both the row/townhouse and apartment condominium categories saw increases when compared to December 2022.”

Detached homes averaged 65 days on the market, an 11-day increase from January of last year. Semi-detached homes averaged 50 days on the market, decreasing seven days year-over-year, with row/townhouses averaging 63 days on the market, an increase of five days from January 2022. Apartment condominiums averaged 82 days on market, showing only a one-day increase from last year. Overall, all residential listings averaged 66 days on the market, increasing by eight days both year-over-year and from December 2022.

Edmonton, January 3, 2023: Total residential unit sales in the Greater Edmonton Area (GEA) real estate market for December 2022 decreased 26.1% compared to December 2021 and decreased 22.1% from November 2022.

New residential listings were down 12.9% year-over-year from December 2021. New residential listings were also down month-over-month, decreasing 38.8% from November 2022. Overall inventory in the GEA was up 6.1% from December of last year but decreased 21.8% from November 2022.

For December, single-family home unit sales are down both 31.9% from December 2021 and 24.2% from November 2022 at 537. Condo unit sales were down 2.8% year-over-year and decreased 15.5% from November 2022. Duplex/rowhouse unit sales also decreased 41.9% year-over-year and 33.6% month-over-month.

All residential average prices are at $361,172, a 5.2% decrease from December 2021, and a 1.9% decrease from November 2022. Single-family homes averaged $457,371, a 1.0% year-over-year decrease and a 0.6% increase from November 2022. Condominiums sold for an average of $207,114, resulting in a 4.6% decrease year-over-year, with prices down 4.4% compared to November 2022. Duplex prices decreased 1.9% from December 2021, selling at $356,822, with a 0.7% decrease from November 2022.

The MLS® Home Price Index (HPI) composite benchmark price* in the GEA came in at $373,200, seeing both a 0.9% decrease from December 2021 and 0.1% from November 2022.

“The Edmonton real estate market continued to cool into the month of December as listings and sales slowed for the holiday season,” says REALTORS® Association of Edmonton Chair Paul Gravelle. “While we saw substantial changes for residential listings, sales and inventory last month, average prices for single-family homes, condos and duplex remained relatively stable both month- over-month and year-over-year.”

Single-family homes averaged 52 days on the market, a six-day increase from December of last year. Condos averaged 70 days on the market, increasing five days year-over-year, while duplexes averaged 47 days on the market, with no change being reported from December 2021. Overall, all residential listings averaged 58 days on the market, increasing by six days both year-over-year and from November 2022.

*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. 

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.

The MLS® Home Price Index (HPI) composite benchmark price* in the GEA came in at $373,400, signalling a 0.9% decrease from November 2021, and a loss of 1.5% from October 2022.

“We’re settling into a quieter market as we return to pre-COVID levels in the Edmonton housing market,” says REALTORS® Association of Edmonton Chair Paul Gravelle. “While we’re not seeing significant changes to our average prices from the previous month or even last year, we are seeing an impact on residential sales and the number of listings hitting the market each month. We expect this normalization to continue as we move away from the flurry of pandemic activity and back to a more balanced market.”

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.

*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. 

Edmonton, November 2, 2022: Total residential unit sales in the Greater Edmonton Area (GEA) real estate market for October decreased 6.7% compared to September 2022 and saw a year-over-year decrease of 21% from October 2021.

New residential listings decreased 13% month-over-month from September 2022 and saw a small increase of 0.8% from October of last year.

Single-family home unit sales were down both 22.59% from October 2021 and 2.8% from September 2022 at 869. Condo unit sales saw a decrease of 14.7% from October 2021 and were down 13.9% from September 2022. Duplex/rowhouse unit sales were down both 27% year-over-year and 12.4% from last month.

Single-family homes averaged $462,858, a 2.7% year-over-year increase and a month-over- month loss of 0.3%. Condominiums sold for an average of $224,252, seeing a small decrease of 0.3% year-over-year and increasing 1.7% when compared to September 2022. Duplex prices increased 3.7% from October 2021, selling at $372,027, and saw a 1% decrease from September 2022.

The MLS® Home Price Index (HPI) composite benchmark price* in the GEA came in at $378,900, both a 0.7% decrease from October 2021, and decrease of 2.5% from September 2022.

“While we saw marginal month-over-month changes across the single family, condo and duplex/row homes categories, our all-residential listings were down substantially from September 2022” says REALTORS® Association of Edmonton Chair Paul Gravelle. “The all- residential sales were also down from the previous month and from October of 2021.”

Single-family homes averaged 44 days on the market, seeing no month-over-month increase. Condos averaged 55 days on the market, decreasing by one day month-over-month, while duplexes averaged 48 days on the market, increasing by three days as compared to last month. Overall, all residential listings averaged 47 days on the market, decreasing one day month-over- month and no change being recorded from October 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. 

Edmonton, October 4, 2022: Total residential unit sales in the Greater Edmonton Area (GEA) real estate market for September decreased 12.2% compared to August 2022 and saw a year- over-year decrease of 15.7% from September 2021.

New residential listings increased 1.7% month-over-month from August 2022 and saw a small increase of 3.7% from September of last year.

Single-family home unit sales were down both 21.9% from September 2021 and 13.5% from August 2022 at 894. Condo unit sales saw a decrease of 1.5% from September 2021 and were down 13.2% from August 2022. Duplex/rowhouse unit sales were down both 7.2% year-over- year and 4.9% from last month.

Single-family homes averaged $463,051, a 2% year-over-year increase and a month-over- month decrease of 1.1%. Condominiums sold for an average of $220,013, seeing a small decrease of 1.9% year-over-year and no change when compared to August 2022. Duplex prices increased 11.6% from September 2021, selling at $375,923, and saw a 4.3% decrease from August 2022.

The MLS® Home Price Index (HPI) composite benchmark price* in the GEA came in at $388,800, a 2.2% increase from September 2021, with a small decrease of 2.6% recorded from August 2022.

“As we transition into the fall months, we’ve started to see an increase in the total number of homes available as people are looking to sell before the holidays,” says REALTORS® Association of Edmonton Chair Paul Gravelle. “Although unit sales were down across all categories, average prices remain steady for single-family homes in the Edmonton region.”

Single-family homes averaged 44 days on the market, seeing an increase of seven days from August 2022. Condos averaged 56 days on the market, increasing by two days month-over- month, while duplexes averaged 45 days on the market, an eight-day increase compared to last month. Overall, all residential listings averaged 48 days on the market, increasing by four days month-over-month and four days when compared to September 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.

Edmonton, September 2, 2022: Total residential unit sales in the Greater Edmonton Area (GEA) real estate market decreased 8.3% compared to July 2022 and saw a year-over-year decrease of 12.0% from August 2021.

New residential listings decreased 10.5% month-over-month from July 2022 but saw a small increase of 0.9% from August of last year.

Single-family home unit sales were down both 17.0% from August 2021 and 10.8% from July 2022 at 1,034. Condo unit sales saw an increase of 5.8% from August 2021 but were down 1.5% from July 2022. Duplex/rowhouse unit sales were down both 22.7% year-over-year and 15.0% from last month.

Single-family homes averaged $469,757, a 1.8% year-over-year increase and a month-over- month decrease of 4.1%. Condominiums sold for an average of $220,051, seeing a small decrease of 3.3% year-over-year and 4.2% when compared to July 2022. Duplex prices increased 1.5% from August 2021, selling at $360,570, but saw a 3.3% decrease from July 2022.

The MLS® Home Price Index (HPI) composite benchmark price* in the GEA came in at $399,300, a 4.3% increase from August 2021, with a small decrease of 2.8% recorded from July 2022.

“While we continue to see the Edmonton real estate market cooling down after a record- breaking period earlier this year, there is still a fair amount of activity happening in the resale market,” says REALTORS® Association of Edmonton Chair Paul Gravelle. “Although we’ve seen average prices decrease month-over-month across the board, single-family home prices are still above average from this time last year.”

Single-family homes averaged 37 days on the market, seeing an increase of four days from July 2022. Condos averaged 54 days on the market, increasing by two days month-over-month, while duplexes averaged 37 days on the market, a three-day increase compared to last month. Overall, all residential listings averaged 42 days on the market, increasing by three days month- over-month, with no change recorded when compared to August 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. 

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. 

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. 

Edmonton, June 2, 2022: Total residential unit sales in the Greater Edmonton Area (GEA) real estate market decreased 1.6% compared to April 2022, yet saw a year-over-year increase of 4.4% from May 2021.

New residential listings increased 2.1% month-over-month from April 2022 and 13.1% from May of last year.

For May, single-family home unit sales were down 3.4% from May 2021, but increased 1.9% from April 2022 at 1,736. Condo unit sales increased 28.6% from May 2021 but were down 9% from April 2022. Duplex/rowhouse unit sales were up 5.8% year-over-year yet decreased 1.4% month-over- month.

Single-family homes averaged $492,037, a 5.7% year-over-year increase and a month-over-month decrease of 3.7%. Condominiums sold for an average of $239,011, seeing a decrease of 1.2% year- over-year, with only an increase of 0.3% when compared to April 2022. Duplex prices increased 10.5% from May 2021, selling at $395,783, resulting in a 3.3% decrease from April 2022.

The MLS® Home Price Index (HPI) composite benchmark price* in the GEA came in at $417,300, a 9.2% increase from May 2021, with no change being recorded from April 2022.

“We’re starting to see a slow down of the real estate market in the Greater Edmonton Area as we head into the early days of summer,” says REALTORS® Association of Edmonton Chair Paul Gravelle. “While we continue to see a lot of activity in the market, we’re not seeing as big of month- to-month changes for pricing, sales and days-on-market that we did earlier this year.”

Single-family homes averaged 23 days on the market, seeing no change from April 2022. Condos averaged 44 days on the market, decreasing by one day month-over-month, while duplexes averaged 25 days on the market, a one-day increase compared to last month. Overall, all residential listings averaged 29 days on the market, decreasing by four days year-over-year and down two days as compared to April 2022.

*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. 

Edmonton, May 2, 2022: Total residential unit sales in the Greater Edmonton Area (GEA) real estate market for April 2022 decreased 10.9% compared to March 2022 and increased 2.0% from April 2021.

New residential listings increased both 8.8% year-over-year and 11.9% month-over-month from March 2022.

For April, single-family home unit sales were down both 6.3% from April 2021 and 11.3% from March 2022 at 1,704. Condo unit sales increased 26.6% from April 2021 but were down 7.2% from March 2022. Duplex/rowhouse unit sales were up 2.0% year-over-year yet decreased 20.6% month-over- month.

Single-family homes averaged $510,988, an 11.4% year-over-year increase and a month-over- month increase of 1.4%. Condominiums sold for an average of $237,249, seeing an increase of 3.7% year-over-year as well as an 3.2% decrease compared to March 2022. Duplex prices increased 17.8% from April 2021, selling at $409,428, resulting in a 5.2% increase from March 2022.

The MLS® Home Price Index (HPI) composite benchmark price* in the GEA came in at $376,600, a 9.4% increase from April 2021, and up 1.9% from March 2022.

“The real estate market continues to see modest increases for average prices for Single-family Homes,” says REALTORS® Association of Edmonton Chair Paul Gravelle. “As we enter into the warmer months of spring, we’re still seeing a strong level in the number of residential listings and inventory available in the Greater Edmonton Area.”

Single-family homes averaged 23 days on the market, a four-day decrease from March 2022. Condos averaged 45 days on the market, decreasing by six days month-over-month, while duplexes averaged 24 days on the market, a five-day decrease compared to last month. Overall, all residential listings averaged 31 days on the market, decreasing by six days year-over-year and down three days as compared to March 2022.

*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. 

Edmonton, April 4, 2022: Total residential unit sales in the Greater Edmonton Area (GEA) real estate market for March 2022 increased 45.4% compared to February 2022 and increased 34.7% from March 2021.  

New residential listings increased both 7.6% year-over-year and 47.7% month-over-month from February 2022.

For March, single-family home unit sales are up 21.2% from March 2021 and up 37.7% from February 2022 at 1,920. Condo unit sales increased 67.1% from March 2021 and were up 62.9% from February 2022. Duplex/rowhouse unit sales were up 54.2% year-over-year and increased 45.1% month-over-month.

Single-family homes averaged $503,711, a 9.9% year-over-year increase and a month-over-month increase of 2.0%. Condominiums sold for an average of $245,070, seeing an increase of 6.7% year- over-year as well as an 8.4% increase compared to February 2022. Duplex prices increased 11.8% from March 2021, selling at $389,321, a 3.8% increase from February 2022.

The MLS® Home Price Index (HPI) composite benchmark price* in the GEA came in at $369,700, a 9.4% increase from March 2021, and up 4.5% from February 2022.

“The Greater Edmonton and Area market continues to surprise us as we enter into what is normally the start of the busy season of real estate,” says REALTORS® Association of Edmonton Chair Paul Gravelle. “Although we are seeing slightly lower increases for average sale prices across all categories, there has been a huge increase in the number of listings hitting the market as well the number of sales in the month of March.”

Single-family homes averaged 27 days on the market, a 15-day decrease from February 2022. Condos averaged 51 days on the market, decreasing by 10 days month-over-month, while duplexes averaged 29 days on the market, a 13-day decrease compared to last month. Overall, all residential listings averaged 34 days on the market, decreasing by eight days year-over-year and down 13 days as compared to February 2022.

*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.