First Quarter Market Report for 2022 - Edmonton House Prices
Single detached homes increased in February by 3.2% from a year earlier to 422 units. This was the best February performance for Edmonton’s single-family homebuilders since 2015.
There were 817 completed new built and unoccupied stand alone and semi-detached houses, down from 878 units a month prior. The average price for single-detached house absorbed in Metro Edmonton increased in February by 4.3% year-over-year to $561,753.
In the first quarter of 2022, there were a total of 5074 properties sold in Edmonton including 3640 houses & duplexes and 1434 condominums. With the low interest rates and buyers wanting to get into the real estate market before the rates increase, we had a surplus of multiple offers in the first part of 2022, making this quater a sellers market which led to the increased Edmonton house prices!