June Single Family Market Report for Edmonton

The June market continued to perform well compared to the same time last year. Values appear to have peaked and are now flatter.

Sales Prices

In June 2022, average sales prices remained high, but lower than the month before. The average price was $480,982 compared to $472,781 in June 2021. This is an increase of 2% when compared to June 2021. The ‘blended’ increase for the year so far is 6%. Values have almost certainly peaked this year although we may see a slight improvement as the year matures.

Sales Volume

In June 2021 there were a total 1249 Edmonton sales registered. In June 2022, there were 1203 sales registered equal to a 4% reduction in sales volume year on year. This is the second month in a row that single family volume was less than last year. From this point on I would expect single family sales to mirror last year’s volume.

Days on Market

Buyers continued to quickly select homes in June 2022 and the average time to sell was only 29 days, compared to 29 days in June 2021. From this point on I would expect market performance to match that of 2021.

Supply

Based on June sales there is 2-month supply of single-family homes available.

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

Leverage continues to reside with home sellers. Values appear to have peaked, but should remain relatively stable given the shortage of supply.

Look for my July 2022 report during the first week of August. Thank you.

About the author:

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