The March condo market continued to surprise. The market easily outperformed last year by every measure. Sales volume is up by 67% and values by 10% on average.

Sales Prices

In March 2022, average sales prices were $241,798 compared to $220,492 in March 2021. This is an increase of 10% when compared to March 2021. The blended average for the first quarter is 6%.

Sales Volume

In March 2021 there were 432 total Edmonton sales registered. In March 2022, 721 sales were registered. This is an impressive increase of 67% over the year before. 

Days on Market

Buyers selected condos in March 2022 after an average of 51 days, compared to 52 days in March 2021. 

Outlook

At the end of March 2022, condo inventory was at 1877 units, equal to 572 fewer condos for sale when compared to last year when there was 2449 units for sale.

Leverage is starting to reside with sellers. I would expect to see values climb during the next two quarters of 2022 if inventory levels continue to stay low.

Look for my April 2022 report during the first week of May. 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 guaranteed FIXED 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

Get the answers to your questions.

Go to our You Tube Channel for buyers and sellers Stuart Neal - Real Estate Advice TV.



Posted by Stuart Neal on
Email Send a link to post via Email

Leave A Comment

e.g. yourwebsitename.com
Please note that your email address is kept private upon posting.