Edmonton, November 2, 2022: Total residential unit sales in the Greater Edmonton Area (GEA) real estate market for October decreased 6.7% compared to September 2022 and saw a year-over-year decrease of 21% from October 2021.
New residential listings decreased 13% month-over-month from September 2022 and saw a small increase of 0.8% from October of last year.
Single-family home unit sales were down both 22.59% from October 2021 and 2.8% from September 2022 at 869.
Single-family homes averaged $462,858, a 2.7% year-over-year increase and a month-over-month loss of 0.3%.
“While we saw marginal month-over-month changes across the single family, condo and duplex/row homes categories, our all-residential listings were down substantially from September 2022” says REALTORS® Association of Edmonton Chair Paul Gravelle. “The all-residential sales were also down from the previous month and from October of 2021.”
Single-family homes averaged 44 days on the market, seeing no month-over-month increase. Overall, all residential listings averaged 47 days on the market, decreasing one day month-over-month and no change being recorded from October 2021.