āResidential Listings and Sales Cool Off for Augustā
Total residential unit sales in the Greater Edmonton Area (GEA) real estate market decreased 8.3% compared to July 2022 and saw a year-over-year decrease of 12.0% from August 2021. New residential listings decreased 10.5% month-over-month from July 2022 but saw a small increase of 0.9% from August of last year.
Single-family homes averaged $469,757, a 1.8% year-over-year increase and a month-over-month decrease of 4.1%.
The market continues to shift and cool down after a record-breaking period earlier this year! There is still a fair amount of activity happening in the resale market. Although weāve seen average prices decrease month-over-month, single-family home prices are still above average from this time last year.
Let me know if you have any questions or would like to know what these numbers mean to you whether you are buying or selling. If you are interested in growing your real estate portfolio, now might be the right time to start your search.
Source: https://www.realtorsofedmonton.com/Market-Stats/Monthly-Housing-Statistic