Edmonton, October 3, 2023: Total residential unit sales in the Greater Edmonton Area (GEA) real estate market for September 2023 hit 2,058, dropping from August 2023 by 8.4% and increasing 25.8% compared to September 2022. New residential listings decreased slightly, at 0.1% year-over- year from September 2022, and decreasing 3.3% from August 2023. Overall inventory in the GEA was down 15.7% from September of last year, and down 2.8% from the previous month.

For September, detached unit sales totalled 1,311, a decrease of 8.0% from August 2023, but up 26% from the previous year. Semi-detached unit sales were down 11.0% month-over-month but increased by 6.9% from September 2022. Row/Townhouse unit sales were down 20.6% from August 2023 and up 28.0% year-over-year. Apartment Condominium unit sales had an increase of 59.3% from September 2022, and are the only property type to see an increase from the previous month, sitting at 3.2% higher than August 2023.

Total residential average prices came in at $394,000, a 0.1% decrease from September 2022, and a 1.0% decrease from August 2023. Detached homes averaged $493,0328, noting a 2.4% year-over- year increase, but a 0.4% decrease from August 2023. Semi-detached sold for an average of $353,929, resulting in a 4.2% decrease year-over-year, and a 5.2% decrease from the previous month. Row/townhouse prices were up 8.0% from September 2022 and up 5.4% month-over-month, selling at $267,100. Apartment Condominium average prices hit $182,103 showing a decrease of 5.7% from last month and a decrease of 1.6% from September 2022.

The MLS® Home Price Index (HPI) composite benchmark price* in the GEA came in at $380,280, resulting in a decrease of 0.1% from August 2023, and a drop of 1.2% from September 2022.

“We’re continuing to see the trend of a higher number of sales happening in 2023 compared to last year, but the market is still slowing down for autumn. Sales in almost every category fell from the previous month,” says REALTORS® Association of Edmonton 2023 Board Chair Melanie Boles. “Sellers hoping to close before the holidays have lower available inventory on their side, but they will have to contend with higher buyer uncertainty from the Bank of Canada’s looming October announcement about interest rates.”

Detached homes averaged 42 days on the market, increasing three days from August 2023. Semi- detached homes averaged 37 days on the market, decreasing 5 days from the previous month, with row/townhouses averaging 42 days on the market, a decrease of two days month-over-month. Apartment condominiums averaged 54 days on the market, showing a two-day decrease from August 2023. Overall, all residential listings averaged 44 days on the market, decreasing by four days year-over-year and two days from August 2023.

Edmonton, September 1, 2023: Total residential unit sales in the Greater Edmonton Area (GEA) real estate market for August 2023 hit 2,250, increasing 21.8% compared to August 2022, dropping marginally from July 2023 by 3.1%. New residential listings were up 3.7% year-over-year from August 2022, and increasing 0.3% from July 2023. Overall inventory in the GEA was down 15.5% from August of last year, and down 2.7% from the previous month.

For August, detached unit sales were up 16.8% from August 2022 and decreased 5.8% from July 2023 at 1,311. Semi-detached unit sales were down 11.6% month-over-month but increased by 12.9% from this time last year. Row/Townhouse unit sales were up 50.0% from August 2022 and up 23.2% from July 2023. Apartment Condominium unit sales had an increase of 25.1% from August 2022, while noting a decrease of 6.9% from the previous month.

Total residential average prices came in at $397,811, a 0.5% increase from August 2022, and a drop of 2.7% from July 2023. Detached homes averaged $495,005, noting a 2.1% year-over-year increase, but a 1.4% decrease from July 2023. Semi-detached sold for an average of $373,175, resulting in a 4.3% increase year-over-year, and a decrease of 1.5% from the previous month. Row/townhouse prices were up 3.6% from August 2022 and down 4.1% month-over-month, selling at $253,345. Apartment Condominium average prices hit $192,815 showing a decrease of 1.0% from last month and an increase of 0.5% from August 2022.

The MLS® Home Price Index (HPI) composite benchmark price* in the GEA came in at $380,600, resulting in a decrease of 0.3% from July 2023, and a drop of 3.9% from August 2022.

“It’s not unusual to see a lot of activity in the market before we head into the cooler months, but it seems that buyers are sending a clear message that smaller, more affordable properties are what they want right now,” says REALTORS® Association of Edmonton 2023 Board Chair Melanie Boles. “Unit sales for all categories are up from last year, but Row/Townhouses were the clear winner selling 50% more units than the same time last year and jumping 23.2% from the previous month. Condominium Apartment units continued to perform well, with units selling 25.1% better than August of 2022.”

Detached homes averaged 45 days on the market, increasing one day from July 2023. Semi- detached homes averaged 42 days on the market, increasing seven days from the previous month, with row/townhouses averaging 44 days on the market, an increase of three days month-over- month. Apartment condominiums averaged 56 days on the market, showing a two-day decrease from July 2023. Overall, all residential listings averaged 46 days on the market, increasing by four days year-over-year and one day from July 2023.

Edmonton, August 2, 2023: Total residential unit sales in the Greater Edmonton Area (GEA) real estate market for July 2023 hit 2,323, increasing 14.9% compared to July 2022, but dropped 10.4% from June 2023. New residential listings were down 7.7% year-over-year from July 2022, while also noting a drop of 9.2% from June 2023. Overall inventory in the GEA was down 17.3% from July of last year, and down 2.4% from the previous month.

For July, detached unit sales were up 10.9% from July 2022 and decreased 12.7% from June 2023 at 1,391. Semi-detached unit sales were down 11.2% month-over-month but increased by 11.2% from this time last year. Row/Townhouse unit sales were up 19.7% from July 2022, but dropped 5.4% from June 2023. Apartment Condominium unit sales had an increase of 31.6% from July 2023, while noting a decrease of 4.3% from the previous month.

Total residential average prices hit $409,986, a 2.0% decrease from July 2022, and a drop of 0.6% from June 2023. Detached homes averaged $503,542, noting a 0.8% year-over-year drop and a 0.6% increase from June 2023. Semi-detached sold for an average of $378,902, resulting in a 2.3% increase year-over-year, and a decrease of 1.0% from the previous month. Row/townhouse prices were up both 3.8% from July 2022 and 2.6% month-over-month, selling at $264,128. Apartment Condominium average prices hit $194,823 showing a small decrease of 0.1% from last month and a drop of 3.1% from July 2022.

The MLS® Home Price Index (HPI) composite benchmark price* in the GEA came in at $381,800, resulting in a decrease of 0.5% from June 2023, and a drop of 6.2% from July 2022.

“While both detached properties and apartment condominiums saw small drops in their average prices from this time last year, semi-detached homes and row/townhouses both saw a positive bump in average prices for July 2023,” says REALTORS® Association of Edmonton 2023 Board Chair Melanie Boles. “July also had an increase in sales across all categories, with apartment condominiums leading the way, noting a 31.6% jump from July 2022.”

Detached homes averaged 44 days on the market, increasing four days from June 2023. Semi- detached homes averaged 35 days on the market, increasing one day from the previous month, with row/townhouses averaging 41 days on the market, an increase of one day month-over-month. Apartment condominiums averaged 58 days on the market, showing a three-day increase from June 2023. Overall, all residential listings averaged 45 days on the market, increasing by seven days year-over-year and three days from June 2023.

Edmonton, July 4, 2023: Total residential unit sales in the Greater Edmonton Area (GEA) real estate market for June 2023 hit 2,596, decreasing both 2.1% compared to June 2022 and 4.6% from May 2023. New residential listings were down 14.8% year-over-year from June 2022, while also noting a drop of 3.9% from May 2023. Overall inventory in the GEA was down 11.7% from June of last year, and up 0.5% from the previous month. 

For June, detached unit sales were down 5.1% from June 2022 and decreased 6.0% from May 2023 at 1,594. Semi-detached unit sales were down 9.0% year-over-year but increased by 4.3% from May 2023. Row/Townhouse unit sales saw decreases both year-over-year and month-over-month, noting drops of 6.9% and 17.3% respectively. Apartment Condominium unit sales had increases of 26.0% from June 2022 and 6.8% from the previous month.

Total residential average prices hit $412,334, a 3.1% decrease from June 2022, and a drop of 2.3% from May 2023. Detached homes averaged $500,496, noting a 1.8% year-over-year drop and 2.7% decrease from May 2023. Semi-detached sold for an average of $382,883, resulting in a small 2.6% increase year-over-year, and an increase of 0.2% from the previous month. Row/townhouse prices were up both 0.7% from June 2022 and 1.7% month-over-month, selling at $257,812. Apartment Condominium average prices hit $194,910, showing an increase of 0.9% from last month and a drop of 4.9% from June 2022.

The MLS® Home Price Index (HPI) composite benchmark price* in the GEA came in at $383,600, resulting in an increase of 1.3% from May 2023, but a decrease of 7.2% from June 2022.

“While we’ve noted that market activity has cooled heading into the summer months, we’ve seen slight improvements in average prices across several categories,” says REALTORS® Association of Edmonton 2023 Board Chair Melanie Boles. “Although detached homes saw a decrease of 2.7% from May 2023, semi-detached homes, row/townhouses and apartment condominiums all saw slight improvements in their average prices from the previous month.”

Detached homes averaged 40 days on the market, seeing no change from May 2023. Semi- detached homes averaged 34 days on the market, decreasing three days from the previous month, with row/townhouses averaging 40 days on the market, a decrease of two days month-over-month. Apartment condominiums averaged 55 days on the market, showing a one-day drop from May 2023. Overall, all residential listings averaged 41 days on the market, increasing by nine days year-over- year and dropping one day from May 2023.

Edmonton, June 2, 2023: Total residential unit sales in the Greater Edmonton Area (GEA) real estate market for May 2023 hit 2,719, decreasing 6.8% compared to May 2022 but increasing 34.4% from April 2023. New residential listings were down 17% year-over-year from May 2022, while also noting an increase of 14.2% from April 2023. Overall inventory in the GEA was down 5.9% from May of last year, and up 2.6% from the previous month. 

For May, detached unit sales were down 9.6% from May 2022, but saw an increase of 37.7% from April 2023 at 1,692. Semi-detached unit sales were down 12.8% year-over-year but increased by 38.4% from April 2023. Row/Townhouse unit sales saw increases in both year-over-year and month- over-month, noting improvements of 4.1% and 27.8% respectively. Apartment Condominium unit sales also had increases of 3.7% from May 2022 and 22.2% from the previous month.

Total residential average prices hit $420,507, a 1.5% decrease from May 2022, and an increase of 2.8% from April 2023. Detached homes averaged $512,338, a 1.2% year-over-year increase and an increase of 2.3% from April 2023. Semi-detached sold for an average of $381,968, resulting in a small 0.7% decrease year-over-year, but saw an increase of 0.8% from the previous month. Row/townhouse prices were down both 4.3% from May 2022 and 3.1% month-over-month, selling at $253,417. Apartment Condominium average prices hit $193,218, showing decreases of 0.3% from last month and 8.1% from May 2022.

The MLS® Home Price Index (HPI) composite benchmark price* in the GEA came in at $378,800, resulting in an increase of 0.5% from April 2023, but a decrease of 8.4% from May 2022.

“We’ve certainly seen the real estate market come to life in the month of May,” says REALTORS® Association of Edmonton 2023 Board Chair Melanie Boles. “Although small, there were improvements in the year-over-year detached average prices as well as row/townhouse and apartment condominium unit sales.

Detached homes averaged 40 days on the market, a two-day decrease from April 2023. Semi- detached homes averaged 37 days on the market, decreasing four days from the previous month, with row/townhouses averaging 42 days on the market, a decrease of three days month-over-month. Apartment condominiums averaged 56 days on market, showing no change from April 2023. Overall, all residential listings averaged 42 days on the market, increasing by 13 days year-over-year and dropping two days from April 2023.

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.

For April, detached unit sales were down 32.9% from April 2022, but saw an increase of 14.2% from March 2023 at 1,229. Semi-detached unit sales were down 37% year-over-year but increased by 19.3% from March 2023. Row/Townhouse unit sales also decreased 23% year-over-year and increased 0.7% month-over-month. Apartment Condominium unit sales saw a decrease of 23.2% from April 2022 but increased 1.3% 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 MLS® Home Price Index (HPI) composite benchmark price* in the GEA came in at $379,500, resulting in an increase of 0.4% from March 2023, but a decrease of 9.1% 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.

Detached homes averaged 42 days on the market, a four-day decrease from March 2023. Semi- detached homes averaged 41 days on the market, increasing two days days from the previous month, with row/townhouses averaging 45 days on the market, a decrease of seven days month- over-month. Apartment condominiums averaged 56 days on market, showing a decrease of four days from March 2023. Overall, all residential listings averaged 44 days on the market, increasing by 14 days year-over-year and dropping five days from March 2023.

Edmonton, April 4, 2023: Total residential unit sales in the Greater Edmonton Area (GEA) real estate market for March 2023 decreased 44.6% compared to March 2022 but saw an increase of 42.1% from February 2023. New residential listings were down 22% year-over-year from March 2022, while also noting an increase of 32.3% from February 2023. Overall inventory in the GEA was up 22.1% from March of last year, and up 11.8% from the previous month.

For March, detached unit sales were down 47.5% from March 2022, but saw an increase of 48.4% from February 2023 at 1076. Semi-detached unit sales were down 58.2% year-over-year but increased by 20.7% from February 2023. Row/Townhouse unit sales also decreased 45% year-over- year and increased 49.2% month-over-month. Apartment Condominium unit sales saw a decrease of 19% from March 2022 but increased 30.1% from the previous month.

Total residential average prices hit $390,063, a 9.5% decrease from March 2022, and an increase of 5.6% from February 2023. Detached homes averaged $485,739, a 6.4% year-over-year decrease and a 5.7% increase from February 2023. Semi-detached sold for an average of $365,455, resulting in a small 4.1% decrease year-over-year, but saw an increase of 2.2% from the previous month. Row/townhouse prices were down 7.4% from March 2022 and 1.4% month-over-month, selling at $247,796. Apartment Condominium average prices hit $192,746, showing an increase of 2.9% from last month, and a decrease of 5.2% from March 2022.

The MLS® Home Price Index (HPI) composite benchmark price* in the GEA came in at $377,900, resulting in an increase of 1.7% from February 2023, but a decrease of 7.8% from March 2022.

“We continue to see market activity pick up as the days begin to warm up as average prices and days on market continue to improve month-over-month,” says REALTORS® Association of Edmonton 2023 Board Chair Melanie Boles. “I think it’s safe to say that the spring market is here and in full force”.

Detached homes averaged 46 days on the market, an eight-day decrease from February 2023. Semi-detached homes averaged 39 days on the market, decreasing 17 days from the previous month, with row/townhouses averaging 52 days on the market, a decrease of eight days month- over-month. Apartment condominiums averaged 60 days on market, showing a decrease of five days from February 2023. Overall, all residential listings averaged 49 days on the market, increasing by 15 days year-over-year and dropping eight days from February 2023.

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.