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 October. Average days on market for October 2022 was 55 days compared to more than 63 days in October 2022.


Condo supply appears to be soaring when compared to demand. For as long as this pattern continues, prices will be challenged. They will stay flat, or they will drop as more sellers compete for a finite supply of buyers.

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

The Edmonton condo market is interesting. We have seen more sell than last year, days on market come down, but prices are not lifting. Supply versus demand seems to be the issue.

Look for my November 2022 report during the first week of December. 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

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