Edmonton Market Stats - June 2022
The interest rate increases are showing signs of cooling real estate markets across the country, and Edmonton is no exception. Or is it?
We've heard reports that Toronto and Vancouver, 2 markets who represent the lions share of real estate value, are cooling fast. That's showing national stats that make us think the entire country has gone cold. But when we look at the local numbers we're seeing a very differnet story.
Edmonton house values are still up 3.83% year to date, which is huge when you consider that Toronto and Vancouver are facing negative numbers already. Days on Market remain low, and inventory is still historically low.
Sales volume has decreased, and is lower than the 2021 sales volume, a statistic that we will watch closely in coming months.
To sum up what's happening in Alberta, we are shifting from a WHITE HOT real estate market to a Red Hot market; it's still very hot.