June Condo Market Report

The Edmonton condo market stays stable and with increased sales volume and higher prices.

Sales Prices

 

Condo sales prices peaked for 2023 in June at an average price of around $223,000. This is still lower than the previous 2 years, however.

Sales Volume

 

There were 584 condos sold in June compared to 585 in May. Condo sales volume was comfortably above the last 2 years. Does this point to a rebound in confidence for the condo market?

Days on Market

For the second month running condos sold for an average days on market of only 48 days. This is much better than over the previous 2 years and does suggest an underlying confidence in the condo market.

 Supply


With less than 4 months of supply the condo market is expected to remain stable if not moderately improving.

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

Condo sellers and buyers can enter the market with a high degree of certainty. Units are selling quickly and for good prices.

Look for my July report during the first week of August. 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 www.FixedFeeRealty.ca

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

The views expressed in this article are those of Stuart Neal. Exp Realty and our team Ambergate Realty Advisors may not share the same views.

 

Posted by Stuart Neal on
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