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Whether you're a home buyer or seller, staying informed about market conditions is essential for making informed decisions. So let's dive into the numbers and see what June had in store for Edmonton.
New Listings Overview
In June 2023, a total of 2,716 homes were listed for sale in Edmonton. This represents a slight decrease of -6.4% compared to the previous month.
If you're interested in exploring the current listings in Edmonton, you can check out the Edmonton Real Estate page on our website. It provides a comprehensive list of available properties, making it easier for you to find your dream home.
Total Sold Overview
A total of 1,679 homes were sold in Edmonton during June 2023. This reflects a decrease of -7% compared to the previous month and -6.5% compared to the same month last year.
Average and Median Prices
Let's take a closer look at the average and median prices of different property types in Edmonton during June 2023:
Single-Family Detached Homes: The average price for a single-family detached home in Edmonton was $487,090.5, showing a decrease of -2.8% compared to the previous month and -2.5% compared to the same month last year. The median price for this property type was $447,500, indicating a decrease of -1.8% compared to the previous month and -1.7% compared to the same month last year.
Half-Duplexes: The average price for a half-duplex in Edmonton was $388,462.5, experiencing a slight increase of 0.2% compared to the previous month and a more significant increase of 3.6% compared to the same month last year. The median price for a half-duplex was $380,000, demonstrating a month-over-month increase of 1.3% and a year-over-year increase of 3.1%.
Condominiums: The average price for a condominium in Edmonton was $184,574.1, showing a monthly increase of 2.3%, but a year-over-year decrease of -8%. The median price for a condominium was $171,000, reflecting a monthly increase of 4.3% and a year-over-year decrease of -5%.
Townhomes: The average price for a townhome in Edmonton was $256,194.9, experiencing a monthly increase of 2.4% and a slight year-over-year decrease of -1.3%. The median price for a townhome was $255,950, indicating a monthly increase of 3.6% and a year-over-year increase of 1.6%.
For more detailed information about specific properties and their prices, you can browse through the listings on our Edmonton Real Estate page.
If you're looking for no-condo fee townhomes or luxury real estate, our website has comprehensive listings.
Sales-to-New-Listing Ratio
The sales-to-new-listing ratio for Edmonton in June 2023 was 0.62. This ratio provides valuable insights into the level of competition in the market and can help both buyers and sellers make informed decisions. The market currently is slightly tipped in the favour of sellers.
Cumulative Days on Market
Understanding the cumulative days on market can give us insights into the average time it takes for different types of properties to sell in Edmonton. Here are the numbers for June 2023:
Detached Single-Family Homes: These properties spent an average of 60 days on the market before being sold.
Half-Duplexes: The average cumulative days on market for half-duplexes in Edmonton was 53 days.
Condominiums: Condos and apartments had an average cumulative days on market of 89 days.
Townhomes: Townhomes spent an average of 56 days on the market before being sold.
Conclusion
In conclusion, the Edmonton real estate market experienced a slight decrease in new listings and total sales compared to the previous month and the same month last year. The market remains active and presents opportunities for both buyers and sellers.
Remember, staying informed about market trends is crucial when making real estate decisions. Feel free to reach out to us at HomeAnalytic.ca for personalized assistance and expert guidance throughout your home buying or selling journey.