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Sherry Coutu

Craig was fantastic to work with. He also responded quickly, listened to our needs/wants, and arranged a great selection of properties to look at that met our requirements. We would definitely recommend Craig to anyone looking for a realtor and we would work with him again.

Hannah K

Great working with Craig again: his expertise and experience quickly wrapped up a sale for us: approx 4 days from approaching him to getting our first offer slightly above list!

Ben Trudeau

Dealing with Craig to sell our house has been the best decision ever! From all the marketing perks that he included (including a 3D walk-through of our house) to a very accurate pricing positioning, we ended up selling at a full listing price within 4 days with multiple offers at the finish line! Great performance and worth every penny for such an excellent service!

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May 2023 | Edmonton Real Estate Housing Market Update

Total residential unit sales in the Greater Edmonton Area (GEA) real estate market for May 2023 hit 2,719, decreasing 6.8% compared to May 2022 but increasing 34.4% from April 2023. Total residential average prices hit $420,507, a 1.5% decrease from May 2022, and an increase of 2.8% from April 2023. 

The MLS® Home Price Index (HPI) composite benchmark price* in the GEA came in at $378,800, resulting in an increase of 0.5% from April 2023, but a decrease of 8.4% from May 2022.

New residential listings were down 17% year-over-year from May 2022, while also noting an increase of 14.2% from April 2023. Overall inventory in the GEA was down 5.9% from May of last year, and up 2.6% from the previous month. 

All residential listings averaged 42 days on the market, increasing by 13 days year-over-year and dropping two days from April 2023.

Detached homes averaged 40 days on the market, a two-day decrease from April 2023. They averaged $512,338, a 1.2% year-over-year increase and an increase of 2.3% from April 2023. Detached unit sales were down 9.6% from May 2022, but saw an increase of 37.7% from April 2023 at 1,692. 

Semi-detached homes averaged 37 days on the market, decreasing four days from the previous month. They sold for an average of $381,968, resulting in a small 0.7% decrease year-over-year, but saw an increase of 0.8% from the previous month. Semi-detached unit sales were down 12.8% year-over-year but increased by 38.4% from April 2023. 

Row/townhouses averaging 42 days on the market, a decrease of three days month-over-month. Their prices were down both 4.3% from May 2022 and 3.1% month-over-month, selling at $253,417. Row/Townhouse unit sales saw increases in both year-over-year and month-over-month, noting improvements of 4.1% and 27.8% respectively. 

Apartment condominiums averaged 56 days on market, showing no change from April 2023. They average prices hit $193,218, showing decreases of 0.3% from last month and 8.1% from May 2022. Apartment Condominium unit sales also had increases of 3.7% from May 2022 and 22.2% from the previous month.

If you or someone you know have questions about how this may impact your home selling or buying decision, send me a message!⁠

Craig Finnman ⁠
Re/Max Elite ⁠
craig@craigfinnman.ca ⁠
780-982-1589⁠

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Copyright 2023 by the REALTORS® Association of Edmonton. All Rights Reserved.
Data is deemed reliable but is not guaranteed accurate by the REALTORS® Association of Edmonton.
The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA.