Chilly Temps Chilled The December 2021 Edmonton Market
Sat, 15 JanCity of Edmonton inventory numbers are the lowest they have been in a long time. Prices have dropped just like our winter temperatures.
All residential average sale price for December 2021 was up year over year 6.1% but down month over month by 1.2%. We are in a balanced market position of 4.6 months of inventory.
Single family properties are up 8.9% y/y and up a marginal .9% m/m with 2.4 months of inventory, favoring a strong sellers market.
Condominiums are down 6% y/y and down 7.8% m/m. They have 6.5 months of inventory favoring buyers.
Duplex/rowhouses are up 8.7% y/y and up 3.4% m/m. They too have a strong sellers market of 2.3 months of inventory.
I look forward to hearing the annual market forecast in a couple of weeks and will be happy to report back in February for the market predictions for 2022.
In the meantime, low inventory numbers are putting sellers in a great position to sell. If you have a family member, friend, co-worker or acquaintance looking to make a real estate change in the next year, please think of me to serve them.
Just know, I’m here for you whenever you need real estate-related information, advice or help.
All about you. Really.