In July 2021 there were 432 total Edmonton sales registered. In July 2022, 441 sales were registered. This is a small increase of 2% over last year.

 

Days on Market

Sales Prices

In July 2022, average sales prices were $224290 compared to $232085 in July 2021. This is a decrease of 3%. The blended average increase for the year to date is about 2%.

Sales Volume

In July 2021 there were 432 total Edmonton sales registered. In July 2022, 441 sales were registered. This is a small increase of 2% over last year.

 

Days on Market


Condominiums sold in July 2022 after an average of 50 days, compared to 52 days in July 2021. In terms of speed 2022 has consistently outperformed the market when compared to 2021 and 2020.

Supply


Based on July sales there is 5.5 -month supply of condos available for sale compared to 4 months is June.

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

The condo market is balanced and will likely remain that way for the rest of the year. If the supply of single-family homes dwindles, this will further increase price pressure on single family, making condos look like very good value. Is this occurs, the market could pick up, but for now we expect stability.

Look for my August 2022 report during the first week of September. 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 FLAT 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 www.FixedFeeRealty.ca

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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