🏠 Real Estate Market Update October 2023
“Despite Interest Rate Worries, Low Inventory Causes Increase in Average Sale Prices” – The latest headline from Edmonton Real Estate Association. Single-family detached homes were up 12.6% from October 2022 but a decrease in sales of 12.7% from Sept 2023. Detached homes averaged $486,751, Semi-detached sold for an average of $385,895 (9% increase from last month), and row/townhouses sold at $258,779 – 26.4% increase year-over-year.
Edmonton and surrounding areas continued its hot streak in October – with sales up and inventory dropping compared to last year. Low inventory but high demand has kept this a seller’s market in Edmonton. Homes are still often selling with multiple offers (albeit not the crazy bidding wars we’ve seen earlier this year).
✅ If you are interested in a free home evaluation or would like a market analysis on a potential property, call me direct at 780-777-9703!
Information gathered from the Real Estate Association of Edmonton.
Jarett Johnson Real Estate
Realty Executives Focus