City of Edmonton Market Update October 2022
A balanced market is the best way to describe October 2022 City of Edmonton stats.
The average price for all residential sales was down 1% year over year but up 1% month over month. There is 5.8 months of inventory indicating a balanced market.
The average price for single family dwellings was up 1% year over year, but down 1.2% month over month. There is 4.0 months of inventory for a balanced market.
The average price for condos was down 5.4% year over year and down 1.7% month over month. There is 5.2 months of inventory for a balance market.
The average price of duplex and rowhouses was up 3.1% year over year and down 3.4% month over month. This category is sitting in a sellers market position of 2.7 months of inventory.
Seasonal changes and higher mortgage rates with not much hope of them coming down for at least a year seem to be holding the market back.
If you need to make a change, please call me for professional representation.
All about you. Really.
