Total residential unit sales in the Greater Edmonton Area (GEA) real estate market for December 2023 came to 1,229, decreasing from November 2023 by 24.4%, but showing an increase of 25.2% over December 2022.

New residential listings amounted to 1,497, which is 28.3% lower than November 2023, and 27% higher than December 2022. Overall inventory in the GEA showed decreases of 6.7% from December of last year and 15.2% from November 2023.

Total residential average prices came in at $388,637, a 2.0% increase from November 2023, and a 3.5% increase from December 2022. Overall, all residential listings averaged 52 days on the market, a month-over-month increase of 3 days and a six-day decrease when compared to December 2022.

The MLS® Home Price Index (HPI) composite benchmark price* in the GEA came in at $435,000, increasing 0.7% from November 2023, and a year-over-year increase of 3.5% from December 2022.

For December, detached unit sales totalled 701, a decrease of 24.4% from November 2023, but up 22.6% from the previous year. Detached homes averaged $489,392, amounting to a 3.8% year-over-year increase, a 2.2% increase from November 2023. Detached homes averaged 53 days on the market, increasing seven days from November 2023.

Take advantage of the dynamic opportunities in the Greater Edmonton Area real estate market! Connect with me today to navigate these changes and make the most of your property goals. Let’s shape your real estate success together!

Craig Finnman
RE/MAX Elite
(780) 982-1589⁠
craig@craigfinnman.ca⁠

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