Edmonton Real Estate Market Statistics February 2022

Rimrock Real Estate

03/2/22

Strong Market Activity Continues in February

Edmonton, March 2, 2022: Total residential unit sales in the Greater Edmonton Area (GEA) real estate market for February 2022 increased 69.3% compared to January 2022 and increased 41.7% from February 2021.
 
New residential listings increased both 13.7% year-over-year and 39.6% month-over-month from January 2022.
 
For February, single-family home unit sales are up 35.6% from February 2021 and up 71.9% from January 2022 at 1,394. Condo unit sales increased 55.2% from February 2021 and were up 62.9% from January 2022. Duplex/rowhouse unit sales were up 55.9% year-over-year and increased 87.7% month-over-month.
 
Single-family homes averaged $493,543, a 12.7% year-over-year increase and a month-over-month increase of 10.8%. Condominiums sold for an average of $226,811, a 1.8% decrease year-over-year, and prices are up 0.9% compared to January 2022. Duplex prices increased 9.1% from February 2021, selling at $374,290, a 2.1% decrease from January 2022.
 
The MLS® Home Price Index (HPI) composite benchmark price* in the GEA came in at $353,900, a 6.9% increase from February 2021, and up 2.8% from January 2022.
 
“We continue to see incredible momentum emerging out of the Greater Edmonton Area real estate market as we head into the warmer months,” says REALTORS® Association of Edmonton Chair Paul Gravelle. “We saw huge increases in our month-over-month activity for residential listings and sales for the month of February.”
 
Single-family homes averaged 42 days on the market, a five-day decrease from February of last year. Condos averaged 61 days on the market, decreasing by one day year-over-year, while duplexes averaged 42 days on the market, a six-day decrease compared to February 2021. Overall, all residential listings averaged 47 days on the market, decreasing by five days year-over-year and down 10 days as compared to January 2022.
 
*The MLS® Home Price Index (HPI) is a measure of real estate prices that provides a clearer picture of market trends over traditional tools such as mean or median average prices. It is designed to be a reliable, consistent, and timely way of measuring changes in home prices over time. You can find more information on the following pages. 

WORK WITH US

We are committed to excellence at every step of the process and because we are a boutique real estate brokerage, we can leverage our decades of experience with some of the largest and most prestigious global companies, and combine it with a more personalized approach and experience.

Contact Us