The number of residential units sold in the Greater Edmonton Area (GEA) real estate market during April 2023 was 2,028, indicating a decrease of 30.8% when compared to the sales of April 2022. However, there was an increase of 11.1% in sales from March 2023.

In April 2023, new residential listings in the Greater Edmonton Area (GEA) real estate market decreased by 26% compared to April 2022, but increased by 6% from March 2023. The GEA's overall inventory increased by 7.4% year-over-year and by 9.3% from the previous month. The average price for residential properties in the GEA was $408,631, indicating a 6% drop from April 2022 but a 4.8% increase from March 2023.

The composite benchmark price* for the MLS® Home Price Index (HPI) in the Greater Edmonton Area (GEA) real estate market was $379,500, showing a 0.4% increase from March 2023 and a 9.1% decrease from April 2022. On average, all residential listings in the GEA stayed on the market for 44 days, an increase of 14 days from last year and a decrease of five days from March 2023.

In April, detached unit sales in the Greater Edmonton Area (GEA) were down 32.9% from April 2022, but increased 14.2% from March 2023 to 1,229 units sold. Detached homes had an average of 42 days on the market, decreasing four days from March 2023. The average price for detached homes was $500,635, which represents a 4.6% decrease year-over-year but a 3.1% increase from March 2023.

Semi-detached unit sales in the GEA real estate market decreased by 37% year-over-year, but increased by 19.3% from March 2023. The average selling price was $378,797, with a small 3.4% decrease from the previous year, but a 3.7% increase from the previous month. On average, semi-detached homes stayed on the market for 41 days, increasing by two days from the previous month.

Sales of row/townhouse units in the GEA real estate market were down 23% YoY but increased by 0.7% MoM. They spent an average of 45 days on the market, decreasing by seven days from the previous month. The average selling price was $261,390, down 3.7% from April 2022, but up 5.5% from the previous month.

The sales of apartment condominium units in the Greater Edmonton Area (GEA) real estate market decreased by 23.2% compared to April 2022. However, there was a 1.3% increase in sales from the previous month. The average time these properties spent on the market was 56 days, which represents a four-day decrease from March 2023. The average selling price for apartment condominiums in the GEA was $192,560, indicating a slight 0.1% decrease from the previous month and a 5.8% decrease from April 2022.

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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