The December market performed strongly and over the entire year, the number of homes sold in 2021 exceeded 2020 by 31%. Simply amazing.
In December 2021, average sales prices were $383,936 which is a whopping $25,000 MORE (approx.) when compared to December 2020. Sales prices ended at 6% UP when compared to 2020 across the entire year.
In December 2020 there were 626 total Edmonton sales registered. This year 773 sales were registered. This is an impressive increase of 23% over the year before.
Days on Market
Buyers continued to boldly compete for homes in December and the average time to sell was only 55 days on the market, compared to 60 days last year.
Average days on market for the entire year was only 46 days compared to 60 days the year prior.
At month end, total available inventory was 3512 homes & condos for sale, equal to a decrease of 16% compared to December 2020 and down sharply from November 2021 when the deficit was only 3%.
Single family inventory numbers are now at 1769 units, equal to 524 fewer homes for sale compared to last year. Condos are also down at 1752 units for sale, equal to a drop of 160 condos over December 2020. December was the first and ONLY month to show a deficit in condo supply during the entire year.
With both single family and condo segments showing lower inventory and against the backdrop of strong demand, I predict that the market will get off to a brisk start in 2022.
Leverage resides with sellers in both the single family and condo segments and I expect to see values climb nicely during the first 2 quarters of 2022.
Look for our January 2022 report during the first week of February 2022. Thank you.
About the author:
You can read more about the author of this blog by clicking this link - Stuart Neal, Broker, REALTOR® & Team Lead.
Our FLAT FEE home selling program gives clients proven results & affordability. To learn more call our Broker Owner & Team Lead Stuart Neal at: 780-760-2014 or visit our program page www.FlatFeeRealtyAdvisors.ca
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