Home sales in Alberta’s capital city in December 2022 dropped 26% from December 2021 and 22% from November 2022..“The Edmonton real estate market continued to cool into the month of December as listings and sales slowed for the holiday season,” says Realtors Association of Edmonton Chair Paul Gravelle..“While we saw substantial changes for residential listings, sales and inventory last month, average prices for single-family homes, condos and duplex remained relatively stable both month-over-month and year-over-year.”.The market-wide average price in the Greater Edmonton Area (GEA) stood at $361,172 in December, a 5.2% decrease from December 2021, and a 1.9% decrease from November 2022.. Housing stats .Single-family homes averaged $457,371, a 1% year-over-year decrease and a .6% increase from November 2022..Condominiums sold for an average of $207,114, a 4.6% decrease year-over-year, with prices down 4.4% compared to November 2022..Duplex prices decreased 1.9% from December 2021, selling at $356,822, with a .7% decrease from November 2022..“The MLS Home Price Index (HPI) composite benchmark price in the GEA is $373,200, down .9% from December 2021 and down .1% from November 2022,” says Gravelle..“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 November 2022.”. Housing stats 2 .Single-family home sales dropped 31.9% from December 2021 and were down 24.2% from November 2022..Condo sales decreased 2.8% year-over-year and declined 15.5% from November 2022, while duplex/rowhouse sales decreased 41.9% year-over-year and 33.6% month-over-month..Homes for sale stayed on the market longer in December, says Gravelle..“Single-family homes averaged 52 days on the market, a six-day increase from December of last year. Condos averaged 70 days on the market, increasing five days year-over-year, while duplexes averaged 47 days on the market, with no change being reported from December 2021,” he says..“Overall, all residential listings averaged 58 days on the market, increasing by six days both year-over-year and from November 2022.”
