August Condo Market Report

The Edmonton condo market stays stable. Prices are moderate and sales volume continues to grow.

Sales Prices

Condo sales prices climbed slightly for August 2023 at an average price of around $221,000. This is 2% up over the same month last year.

Sales Volume

There were almost 572 condos sold in August compared to less than 410 units sold in August 2022. This represents an increase in volume of 40 %. This is the fourth consecutive month of volume sales growth. Perhaps this points to a rebound in condo interest especially as single-family values continue to lift.

Days on Market

Condos sold for an average days on market of only 51 days. This is slightly quicker than the previous 2 years at 54 and 60 days.


After years of oversupply, the Edmonton market is offering much lower inventory levels. There is less than 3 months of supply. In theory this should mean that values will lift. Perhaps a strong and pent-up supply of new inventory coming to replace that which is sold and holding back price growth?

In general, anything less than four months of supply is considered a sellers’ market. Four to six months is balanced and anything above six months of supply is considered a buyers’ market.

Round Up

On September 6th the Bank of Canada elected to hold the ‘overnight rate’ to 5 ¼ percent.

This is great news for condo sellers and buyers.

Buyers can enter the market with certainty and confidence.

Sellers should consider listing their units for sale now knowing the ‘pre-Christmas movers’ are about to get active.

Look for my September report during the first week of October. Thank you.

About the author:

You can read more about the author of this blog by clicking this link - Stuart Neal, Team Lead & REALTOR®.

Our proven & affordable FIXED FEE home selling system gives clients the best combination of price & value for home selling services. To learn more, call our Team Lead Stuart Neal at: 780-760-2014 or visit our selling system page

Get the answers to your questions. Go to our You Tube Channel for buyers and sellers Stuart Neal - Real Estate Advice.

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