Edmonton home sales up 24% over past year: report
Home sales in the Greater Edmonton Area (GEA) have shot up a whopping 24% from last year, according to the latest report from the Realtors Association of Edmonton.
In November, the median single-family GEA home price hit $456,956 — up nearly 4% from the same time in 2020. All residential average prices are $384,319, a 2% increase from November 2020.
For November, single-family home unit sales are up 24.2% from November 2020 and down 1.2% from October.
Condo unit sales increased 32.5% from November 2020 and decreased 9.3% from October, while duplex/rowhouse unit sales were up an astounding 61.8% year-over-year and up 8.1% month-over-month.
“The Edmonton market saw some strong activity in November, which is unusual for this time of year. We also saw an increase in new residential listings compared to November 2020,” says REALTORS® Association of Edmonton Chair Tom Shearer in a news release.
“The year-over-year residential unit sales in the GEA were also significantly higher than November of last year, while we continue to see incremental decreases in month-to-month activity. The market continues to see activity heading into the winter months.”
According to the report, single-family homes averaged 42 days on the market, a seven-day decrease from November last year. Condos averaged 61 days on the market, a two-day decrease year-over-year, while duplexes averaged 53 days, a single day decrease compared to November 2020.
So there you have it. Sure our winter may send us into a deep freeze or two, but at least our housing market isn’t insane. We’re looking at you, Toronto and Vancouver.