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Update May 2022 Housing Market, Edmonton Canada| Market Update by Team Mani Bagga| Edmonton Real Estate Pro| Mani Bagga

Posted by Mani Bagga on Thursday, June 9th, 2022 at 1:25pm.

 

Total residential Unit sales in the Greater Edmonton Area (GEA) real estate market for April 2022 decreased 1.6% compared to April 2022, yet saw a year-over-year increase of 4.4% from May 2021.

New residential listings increased 2.1% month-over-month from April 2022 and 13.1% from May of last year.

For May, single-family home unit sales were down both 3.4% from May 2021, but increased 1.9% from April 2022 at 1,736.

Single-family homes averaged $492,037, a 5.7% year-over-year increase and a month-over-month decrease of 3.7%.

Duplex/rowhouse unit sales were up 5.8% year-over-year yet decreased 1.4% month-over-month. Duplex prices increased 10.5% from May 2021, selling at $395,783, resulting in a 3.3% decrease from April 2022.

Condo unit sales increased 28.6% from May 2021 but were down 9% from April 2022.

Condominiums sold for an average of $239,011, seeing a decrease of 1.2% year-over-year, with only an increase of 0.3% when compared to April 2022.

The MLS® Home Price Index (HPI) composite benchmark price* in the GEA came in at $417,300, a 9.2% increase from May 2021, with no change being recorded from April 2022.

Single-family homes averaged 23 days on the market, seeing no change from April 2022.

Condos averaged 44 days on the market, decreasing by one day month-over-month, while duplexes averaged 25 days on the market, a one-day increase compared to last month.

Overall, all residential listings averaged 29 days on the market, decreasing by four days year-over-year and down two days as compared to April 2022.

Article Source: Realtors of Edmonton Monthly Market Statistics Update https://bit.ly/TheBaggaTeamMarketUpdate

 


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