Total sales decreased by 14.8% compared to October 2022 and saw a year-over-year decrease of 31.2% from November 2021. New residential listings decreased 22.4% month-over-month from October 2022, with a marginal decrease of 4.3% from November of last year.
Single-family home sales were down both 36.2% from November 2021 and 18.5% from October 2022 at 708. They averaged $454,541, a slight 0.6% year-over-year decrease and a month-over-month loss of 1.8%. Averaging 49 days on the market, increasing by 5 days since last month.
Condo unit sales decreased 11.0% from November 2021 and were down 5.6% from October 2022. They sold for an average of $216,690, with a decrease of 4.0% year-over-year and 3.4% compared to October 2022. Averaging 58 days on the market, increasing by 3 days month-over-month.
Duplex/rowhouse unit sales were down both 42.3% year over year and 14.1% from last month. They increased 4.3% from November 2021, selling at $362,606, with a 2.5% decrease from October 2022. Averaging 52 days on the market, increasing by 4 days as compared to last month.
The MLS® Home Price Index (HPI) composite benchmark price* in the GEA came in at $373,400, signaling a 0.9% decrease from November 2021, and a loss of 1.5% from October 2022.
Overall, all residential listings averaged 52 days on the market, increasing by 5 days month-over-month and a 3-day change recorded from November 2021.
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!
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November 2022 - Edmonton Real Estate Housing Market Update
Posted in Housing Market Update, Insider Info
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