Total residential unit sales in the Greater Edmonton Area (GEA) real estate market for December 2022 decreased 26.1% compared to December 2021 and decreased 22.1% from November 2022.

New residential listings were down 12.9% year-over-year from December 2021. New residential listings were also down month-over-month, decreasing 38.8% from November 2022. Overall inventory in the GEA was up 6.1% from December of last year but decreased 21.8% from November2022.

For December, single-family home unit sales are down both 31.9% from December 2021 and 24.2% from November 2022 at 537.

All residential average prices are at $361,172, a 5.2% decrease from December 2021, and a 1.9% decrease from November 2022. Single-family homes averaged $457,371, a 1.0% year-over-year decrease and a 0.6% increase from November 2022.

Single-family homes averaged 52 days on the market, a six-day increase from December of last year. Overall, all residential listings averaged 58 days on the market, increasing by six days both year-over-year and from November 2022.