Interesting times in the Edmonton real estate market for sure... sales of all property types were well ahead of the past few years, and while single-family prices were up, condo prices are still lagging due to higher than normal supply. The biggest real estate related news this month comes from the Bank of Canada, which gave a surprise warning last week that rates are going to rise significantly next year. We often see an increase in demand before rate hikes, followed, of course, by lower demand. This could move the spring market earlier next year since the hikes will begin in April. I will update this post when the REALTORS® Association of Edmonton releases their monthly report on the market later this week.    

City of Edmonton Stats

764 single-family homes were reported sold in Edmonton in October, up 6.7% from last year. 313 condos were reported sold in October in Edmonton, up 48% from last year. The average price of single-family homes sold in Edmonton in October was up 3% from last year to $446,565 and the median price was up 4.6% to $401,000. Despite stronger sales, the average condo price was down 1% to $221,631 and the median price was down 7% to $190,200. Posted by Liv Real Estate on
Email Send a link to post via Email

Thanks Sara! Any predictions on next year?

Posted by Tom on Friday, November 5th, 2021 at 7:46am

Compared to other Canadian cities, a total increase of 19% in average house prices over 10 years (average 1.9% per year) is pitiful.

Posted by GM on Friday, November 19th, 2021 at 6:31am

Leave A Comment

Please note that your email address is kept private upon posting.