Total residential unit sales in the Greater Edmonton Area (GEA) real estate market for July 2023 hit 2,323, increasing 14.9% compared to July 2022, but dropped 10.4% from June 2023. New residential listings were down 7.7% year-over-year from July 2022, while also noting a drop of 9.2% from June 2023. Overall inventory in the GEA was down 17.3% from July of last year, and down 2.4% from the previous month.

Total residential average prices hit $409,986, a 2.0% decrease from July 2022, and a drop of 0.6% from June 2023. 

The MLS® Home Price Index (HPI) composite benchmark price* in the GEA came in at $381,800, resulting in a decrease of 0.5% from June 2023, and a drop of 6.2% from July 2022.

Overall, all residential listings averaged 45 days on the market, increasing by seven days year-over-year and three days from June 2023.

Detached unit sales were up 10.9% from July 2022 and decreased 12.7% from June 2023 at 1,391. Detached homes averaged $503,542, noting a 0.8% year-over-year drop and a 0.6% increase from June 2023. Detached homes averaged 44 days on the market, increasing four days from June 2023. 

Semi-detached unit sales were down 11.2% month-over-month but increased by 11.2% from this time last year. Semi-detached sold for an average of $378,902, resulting in a 2.3% increase year-over-year, and a decrease of 1.0% from the previous month. Semi-detached homes averaged 35 days on the market, increasing one day from the previous month.

Row/Townhouse unit sales were up 19.7% from July 2022, but dropped 5.4% from June 2023. Row/townhouse prices were up both 3.8% from July 2022 and 2.6% month-over-month, selling at $264,128. Row/townhouses averaging 41 days on the market, an increase of one-day month-over-month. 

Apartment Condominium unit sales had an increase of 31.6% from July 2022, while noting a decrease of 4.3% from the previous month. Apartment Condominium average prices hit $194,823 showing a small decrease of 0.1% from last month and a drop of 3.1% from July 2022. Apartment condominiums averaged 58 days on the market, showing a three-day increase from June 2023. 

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

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Thinking of selling your home in Edmonton? I've got you covered and am here to guide you through every step of the process.

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Quick Fact: Did you know that Edmonton's real estate market has seen steady growth in recent years, making it a great time to sell?

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The Functional Kitchen, where you can streamline your cooking process with organized zones, elevate your culinary experience with quality utensils, and create a clean, inviting space!

Useful Tips:

Organize with Zones: Group items based on their use (e.g., cooking, baking, prep) to streamline your workflow and save time.

Invest in Quality Utensils: High-quality knives and cooking tools can make meal preparation a breeze and last for years.

Keep it Clutter-Free: Minimize countertop clutter to maximize workspace and maintain a clean, inviting kitchen.

As the famous saying goes, don’t judge a book by its cover – except, of course, when we’re talking about real estate. When buyers are hunting for their dream home, curb appeal can be the deciding factor on whether or not they want to take a closer look inside. Here are five curb appeal tips to set your listing apart from the others on the block.

Improve Your Curb Appeal | 5 Easy Tips to Get Started

Start with the Basics

One of the first things potential buyers will see is your driveway, and it is one of the easiest things for you to fix. Ensure your garbage and recycling bins are always neat and tidy, and keep an eye out for garbage and debris that you can easily clean up as it appears. Look for cracks in the sidewalk and driveway, and hire a professional to fix them up so guests will be impressed as soon as they step out of their car.

Be the Light in Their Eye

From taking the perfect selfie to making your home brighter, we can all agree that lighting is important. Not only should you ensure all light bulbs are working correctly, but make sure that your lighting fixtures are clean, stylish, and in good condition. If you have it in the budget, updating your light fixtures can have a large impact on your curb appeal.

Groom the Gardens

Not everyone has a green thumb, but even if your gardens aren’t the envy of the neighbourhood, you can still ensure they are clean and well maintained. Overgrown flowers and shrubs can be unappealing and turn away potential buyers, and taking care of them is simple. All you will need is a pair of garden shears and a little elbow grease and your yard will be in tiptop shape in no time!

Give the Lawn a Trim

There is nothing like an unkempt lawn to turn away buyers! Tending to your lawn is important whether you’re selling or not, but ensuring your grass is healthy and regularly cut will be a big key to your success. If you’re lawn isn’t quite as green as you would like it, you can also spray your lawn with a green spray paint that is created specifically for grass and is both non-toxic and environmentally friendly.

Clear the Dirt!

Over time, your home can build up a fine layer of dirt. Fortunately, it is easy enough to clear it off! Whether it’s a pressure washer or the strongest setting on your garden house, clearing off that extra dirt is an easy task for a lazy summer afternoon in the sun! Start with the sidings of your home, and from there take it to the sidewalks, driveway, and anything else that could use a bit of freshening up.

The best part about summer curb appeal is it doesn’t need to be an annoying task you put off for weeks. Wait for a weekend where the sun is shining bright and the air is warm, and start checking these items off your list. With the beautiful weather and a cold glass of lemonade you will have the best curb appeal on the block in no time at all!

Curious what your home is worth? Connect with me for a complimentary market evaluation!

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The Cozy Living Room, where you can immerse yourself in a relaxing ambiance with soft lighting and scented candles, foster meaningful connections through thoughtfully arranged furniture, and add a personal touch with cherished family photos and artwork.

Useful Tips:

Create a Relaxing Ambiance: Use soft, warm lighting and add some scented candles to make the space cozy and comfortable.

Arrange Furniture for Conversation: Arrange seating in a circular or semi-circular layout to encourage natural conversation and connection.

Add Personal Touches: Decorate with family photos, artwork, or souvenirs to make the living room uniquely yours.