City of Edmonton Market Update October 2022
Sat, 12 NovA 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.