July Single Family Market Report
Single family home prices lifted in July, in line with last year’s values.
In July 2023, average sales prices settled at around $485,000 which is around $17,000 more than June 2023. This might be driven by the possibility of interest rate increases in September, combined with lower inventory levels than normal.
Over 900 single family homes sold in July 2023, which is around the same number as in July 2022. Our market should track or surpass last year’s sales figures, inventory levels allowing.
Days on Market
Average days on market in July 2023 was 43 days. This is longer than the previous 2 years. The current pace is more like we would expect to see in Edmonton.…
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