Edmonton Market Stats - August 2022
Not a big surprise to anyone, August 2022 was a very slow month in the Edmonton real estate market. But how slow?
Sales were down from 1,380 in July to just 691 in August. That's also less than half of the sales that we saw in August of 2021. New listings are also down 41% vs. August of 2021 and down 53% vs. July of this year.
There is no arguing that August was a slow month in the Edmonton real estate market. But what about home values?
The average sale price was $368,000 in August vs $399,000 in July. So sale prices are down; but the HPI (House pricing Index) shows that house values themselves have not changed significantly. This means home buyers are choosing to purchase lower priced homes, possibly due to the recent interest rate increases or a lack of confidence in their long term financial security.
Are you wondering what your own Equity Position is? Follow this link to talk to one of our agents about your home's current value, and what impact the change in the market has had on you.