Area housing prices, sales on the rise

Prices for single-family homes and condos in the Edmonton area rose roughly 10 per cent compared to June of last year, new housing figures show.

Single-family homes averaged $472,637, a 11.6 per cent year-overyear spike and a 1.5 per cent jump from May of this year, according to the June data from the Realtors Association of Edmonton (RAE).

Condominiums in June sold for an average of $241,808, a 9.9 per cent rise year over year. Duplex prices also increased, with an 8.1 per cent bump from June 2020, selling at $356,085. All home prices in June held steady at $398,220, on average; that's a 10.6 per cent jump from last year.

“The Edmonton market in June saw an increase in year-over-year residential unit sales,” said RAE chairman Tom Shearer. “There have also been more sales of single-family homes, condos and duplexes compared to June of last year, while month-over-month activity has started to cool off in some markets compared to May. Of course, we need to keep in mind the drastic difference between 2020 and 2021, but we are still witnessing a strong market that is beginning to balance out for the summer season.”

Home sales in the Edmonton area also shot up, with a 33.4 per cent June increase compared to the same time last year. New residential listings, meanwhile, are up yearover-year, increasing 19.9 per cent compared to June 2020. Though sales were 0.3 per cent higher in May of this year, new residential listings rose 1.2 per cent in June compared to the previous month.

For June, single-family home unit sales were up 28.8 per cent, at 1,676, compared to the same time last year. Condo unit sales almost doubled at 47.2 per cent from June 2020. Duplex/rowhouse unit sales were up 34 per cent year over year.

Single-family homes averaged 28 days on the market, a 25-day decrease from June of last year. Condos averaged 53 days on the market, a 13-day decrease year over year, while duplexes averaged 32 days on the market, a 32-day decrease compared to June 2020. Overall, all residential listings averaged 36 days on the market.