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The November condo market continued to be very active, and sales volume is high. However, an abundance of supply is holding prices down.

Sales Prices

In November 2022, average sales prices were around $215,000 compared to over $216,000 in November 2021 and sales price for the entire year is tracking neutral.

Sales Volume

In November 2022, around 289 sales were registered compared to around 325 sold units in 2021. We expect to see sales volume for 2022 track about 600 units above last year or an increase of around 13% for the year.


Days on Market

Average days on market for November 2022 was 58 days compared to 61 days in November 2022. In my opinion this is a strong sign that buyers feel confident about opportunities in…

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The November market performed well.

Sales Prices

In November 2022, average sales prices were slightly UP compared to last year. The average sales price for November was around $450,000 compared to around $445,000 in November last year. And sales prices are trending 4% UP for the entire year.

Sales Volume

After the record-breaking start to the year, sales volume has dropped off dramatically. Sales volume will likely end the year with around 650 fewer units being sold in 2022 when compared to 2021, a drop of about 5%.

We expect to see just under 12,500 single family homes sell in the Edmonton area by the end of 2022. Note although down on 2021, its still around 3000 units or 33% up on 2020.


Days on Market

Buyers were…

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The October condo market continued to be very active. Abundant supply is holding prices down.

Sales Prices

In October 2022, average sales prices were around $209,000 compared to over $220,000 in October 2021. This is a decrease of about 5%. However, the annual market performance for condos is tracking neutral.

Sales Volume


In October 2022, around 313 sales were registered compared to around 375 units sold in 2021. It should be noted that the last 4 months of 2021 saw a dramatic increase in units sold. For 2022 sales volumes are still ABOVE those number for 2020 and we expect to see sales volume for 2022 track about 600 units above last year an increase of around 13%

Days on Market

Condo buyers were snapped up quickly in…

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The October market continued to perform well.

Sales Prices

In October 2022, average sales prices were slightly UP compared to last year. And sales prices are trending 4% UP for the entire year. The average sales price for October was around $450,000 compared to around $444,000 in October last year.

Sales Volume

After the record-breaking start to the year, sales volume has dropped off dramatically. Sales volume will likely end the year around 500 fewer units being sold in 2023 when compared to 2022. A drop of about 4%.

We expect to see just under 12,000 single family homes sell in the Edmonton area by the end of 2022.

Condo sales are stronger. See my other report for details.

Days on Market

Buyers were taking their…

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The September condo market continued to very active and provides good opportunities for both buyers and sellers.

Sales Prices

In September 2022, average sales prices were around $213,000 compared to $217,000 in September 2021. This is a decrease of 2%. However, the annual increase for condos for the entire year is at 1% UP.

Sales Volume

In September 2022, around 380 sales were registered compared to around 360 units sold in 2021.If sales volume for the last quarter equals that of last year, sales volume for the whole year will be around 700 units ABOVE last year or around 16% more than last year.

Days on Market

Condominiums sold in September 2022 after an average of 57 days, compared to 54 days in September 2021. This is…

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The September market continued to perform strongly.

Sales Prices

In September 2022, average sales prices were very slightly UP compared to last year. And sales prices are trending 4% UP for the entire year. The average sales price for September was almost $458,000 compared to $457,000 in September last year.

Sales Volume

After the amazing start to the year, it should not be a surprise that volume would drop later in the year. Sales volume is now trending at around 83% when compared to the same time last year.

Overall volume for the year will in the end be about the same as for 2021 ie just over 12000 single family homes sold across Edmonton.

Condo sales are stronger. See my other report for details.

Days on Market

…

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The August condo market continued to do well and provides good opportunities for both buyers and sellers.

Sales Prices

In August 2022, average sales prices were $216,273 compared to $218,641 in August 2021. This is a decrease of 1%. This is only a marginal change in my opinion. The blended average increase for the year to date is about 2%.

Sales Volume

In August 2021 there were 407 total Edmonton sales registered. In August 2022, 409 sales were registered. This is a marginal increase but noteworthy against the drop of 20% for single family. Perhaps condos are now considered better value?

Days on Market

Condominiums sold in August 2022 after an average of 54 days, compared to 60 days in August 2021. In terms of speed 2022…

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The August market continued to perform well compared to the same time last year.

Sales Prices

In August 2022, average sales prices decreased by around $26,000 when compared to July. However, sales prices are still 3% UP over August 2021. The average price was around $461,000. The ‘blended’ increase for the year so far is 6% trending down.

Sales Volume

The volume of sales was further reduced. In August 2021 there were a total 970 Edmonton sales registered. In August 2022, there was only 775 sales registered equal to a 20% reduction in sales volume year on year. This is the fourth month in a row that single family volume was less than last year.

My expectation is that volume will start to level up soon. Condo sales are stronger. See…

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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.

…

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The July market continued to perform well compared to the same time last year.

Sales Prices


In July 2022, average sales prices increased over June. The average price was around $487,000 compared to about $480,000 in June 2022 and around $453,000 in July 2021. This represents an increase of 7% when compared to July 2021. The ‘blended’ increase for the year so far is 7%.

Sales Volume

The volume of sale in July dropped dramatically. In July 2021 there were a total 1114 Edmonton sales registered. In July 2022, there was only 923 sales registered equal to a 17% reduction in sales volume year on year. This is the third month in a row that single family volume was less than last year. Perhaps this is a product of very early activity…

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