Edmonton Real Estate May 2022

Edmonton Market Statistics May 2022

Total residential unit sales in the Greater Edmonton Area (GEA) 
real estate market 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 3.4% from May 2021, but increased 1.9% from April 2022 at 1,736. 
Condo unit sales increased 28.6% from May 2021 but were down 9% from April 2022.
 Duplex/rowhouse unit sales were up 5.8% year-over-year yet decreased 1.4% month-over-month.

Single-family homes averaged $492,037,
a 5.7% year-over-year increase and a month-over-month decrease of 3.7%. 
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. 
Duplex prices increased 10.5% from May 2021, selling at $395,783,
resulting in a 3.3% decrease from April 2022.

“We’re starting to see a slow down of the real estate market in the Greater Edmonton Area as we head into the early days of summer,” says REALTORS® Association of Edmonton Chair Paul Gravelle. “While we continue to see a lot of activity in the market, we’re not seeing as big of month-to-month changes for pricing, sales and days-on-market that we did earlier this year.”

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.

Source: Edmonton Real Estate Association