December’s Market Mirrors Seasonal Cold Temperatures!
The week I was delivering some Christmas gifts to past clients since 2020, was the coldest week we have had so far this winter. Fortunately, my husband was my driver, so he kept the car warm. The housing market for the City of Edmonton was also quite cold for December 2022.
“The Edmonton real estate market continued to cool into the month of December as listings and sales slowed for the holiday season,” says REALTORS® Association of Edmonton Chair Paul Gravelle.
Here’s what happened for the City of Edmonton.
All residential average price was down 7.6% year over year and 4.2% month over month. All property categories are in a balanced market position. On average there is 5.4 months of inventory across all categories. This favors neither buyers nor sellers.
Single family homes were down 2.5% Y/Y and down a marginal .1% M/M. There is 4.8 months of inventory.
Condos were down 3.7% Y/Y and down 7.8% M/M with 5.2 months of inventory.
Duplex/Rowhouses were also down 4.7% Y/Y and down 3.8% M/M with 4.2 months of inventory remaining.
Inventory numbers are low, like there were in early 2022. But this is not unusual for this time of the year.
With a balanced market, now is the time to buy or sell. No inflationary stats to effect pricing. A stable market prevents over buyer and under selling.
Call me for professional representation for your sale or purchase.
All about you. Really.
