Edmonton actual property market slows additional in November – Edmonton

Edmonton house costs fell barely and exercise slowed in November, in accordance with the month-to-month…

Edmonton actual property market slows additional in November – Edmonton

Edmonton house costs fell barely and exercise slowed in November, in accordance with the month-to-month report launched by the Realtors Affiliation of Edmonton.

New listings had been down 22 per cent from October. Gross sales throughout all classes had been down 15 per cent in comparison with October and greater than 30 per cent in comparison with November of final 12 months.

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Costs in all classes continued their sluggish fall from the springtime peak. Single-family homes went for a mean of $454,000, condos went for about $216,000 and duplexes bought for a mean value of $362,000.

The Affiliation’s chair stated the market is returning to pre-COVID ranges within the Edmonton space.

“Whereas we’re not seeing vital modifications to our common costs from the earlier month and even final 12 months, we’re seeing an influence on residential gross sales and the variety of listings hitting the market every month,” stated Paul Gravelle.

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“We anticipate this normalization to proceed as we transfer away from the flurry of pandemic exercise and again to a extra balanced market.”

Listings spent longer available on the market final month — on common, properties had been up for 52 days. When exercise was at its hottest in April 2022, properties stayed available on the market for a mean of solely 31 days.


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