March Single Family Market Report for Edmonton

The March market performed amazingly well compared to the same time last year in terms of sales prices and sales volume.

Sales Prices

In March 2022, average sales prices were $487,753 compared to $451,531 in March 2021. This is an increase of 8% when compared to March 2021. The ‘blended’ increase for the first quarter is 7%. 

Sales Volume

In March 2021 there were 1289 total Edmonton sales registered. In March 2022, there was 1620 sales registered. This is an amazing increase of 26% over the year before.

Days on Market

Buyers continued to quickly select homes in March 2022 and the average time to sell was only 27 days, compared to 36 days in March 2021. 

Outlook

At the end of March 2022, single family inventory was at 1616 units, equal to 784 fewer homes for sale compared to last year when there was 2400 units for sale.

Leverage resides with sellers at this time, and I expect to see values climb higher during the next two quarters of 2022.

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 FLAT 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

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