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Total residential sales decreased 6.7% compared to September 2022 and saw a year-over-year decrease of 21% from October 2021.
New residential listings decreased 13% month-over-month from September 2022 and saw a slight increase of 0.8% from October last year.
Overall, all residential listings averaged 47 days on the market, decreasing one-day month-over-month, and no change was recorded from October 2021.
Single-family home unit sales were down both 22.59% from October 2021 and 2.8% from September 2022 at 869. They averaged 44 days on the market, seeing no month-over-month increase. Single-family homes averaged $462,858, a 2.7% year-over-year increase and a month-over-month loss of 0.3%.
Duplex/rowhouse unit sales were down both 27% year-over-year and 12.4% from last month. Prices increased 3.7% from October 2021, selling at $372,027, and saw a 1% decrease from September 2022. Duplexes averaged 48 days on the market, increasing by three days as compared to last month.
Condo unit sales decreased 14.7% from October 2021 and were down 13.9% from September 2022. They sold for an average of $224,252, seeing a small decrease of 0.3% year-over-year and increasing 1.7% when compared to September 2022. Condos averaged 55 days on the market, decreasing by one-day month-over-month.
The MLS® Home Price Index (HPI) composite benchmark price* in the GEA came in at $378,900, both a 0.7% decrease from October 2021 and a decrease of 2.5% from September 2022.
If you or someone you know is looking to sell your home in Edmonton or Sherwood Park, contact me to discuss how this impacts your selling decision!
Craig Finnman
Re/Max Elite
craig@craigfinnman.ca
780-982-1589
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