The February market performed very well once again compared to the same time last year in terms of sales prices and sales volume.
In February 2022, average sales prices were $220,495 compared to $206,556 in February 2021. This is an increase of 7% when compared to February 2021.
In February 2021 there were 268 total Edmonton sales registered. In February 2022, 440 sales were registered. This is an impressive increase of 64% over the year before.
Days on Market
Buyers selected condos in February 2022 after an average of 59 days, compared to 61 days in February 2021.
At the end of February 2022, condo inventory was at 1749 units, equal to 367 fewer condos for sale when compared to last year.
Leverage is starting to reside with sellers. I would expect to see values climb during the second two quarters of 2022 if inventory levels continue to stay low.
Look for my March 2022 report during the first week of April. Thank you.
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