Edmonton Summer Housing Market Update
presented by River Valley Realty - eXp Realty Canada ‪@Evan_Cochlin‬
July sales rose to 1,591, the highest levels seen in the month since 2014. Rising sales occurred across all property types with the largest gain occurring in the apartment condominium sector. At the same time new listings continue to decline causing a pullback in inventory levels and ensuring the months of supply remained below three months.
Conditions vary significantly in Edmonton by price range. While the months-of-supply is lower than levels reported last July across all price ranges, lower priced properties are experiencing seller market conditions while conditions are much more balanced in the upper price ranges.
The benchmark price in July eased slightly over last month to $372,400 ending the consecutive months gains that occurred since February. Overall prices across all property types remain below last years levels.
Edmonton Total residential home average price: $383,875
Down 4.3% from last year
Edmonton Detached home average price: $490,276
Down 3.9% from last year
Edmonton Semi-detached home average price: $381,788
Up 3.3% from last year
Edmonton Row home average price: $255,938
Up 1.2% from last year
Edmonton Apartment home average price: $192,971
Down 2.7% from last year
All stats are taken from the Alberta Real Estate Association July 2023 Monthly Statistics
We think this winter will be stagnant balanced real estate market with prices and sales staying steady.
Like most years I think we will see a very active market come this spring!
Need a REALTOR in #edmonton ? 🏡
Text or call me directly at 780-965-1544
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If you have any questions or if you area interested in buying, selling or investing let me know and I would be happy to help
📬 ross@riveralleyrealty.ca