December Housing Statistics: "Residential Unit Sales & Listings Cools for December"
Edmonton, January 5, 2022: Total residential unit sales in the Greater Edmonton Area (GEA) real estate market for December 2021 increased 19.5% compared to December 2020 and decreased 27.6% from November 2021.
New residential listings increased 10.2% year-over-year from December 2020. However, new residential listings are down month-over-month, decreasing 33.8% from November 2021. Overall inventory in the GEA was down 14.1% from December of last year and decreased 22.6% from November 2021.
For December, single-family home unit sales are up 16.5% from December 2020 and down 29% from November 2021 at 790. Condo unit sales increased 25.6% from December 2020 and decreased 22.9% from November 2021. Duplex/rowhouse unit sales were up 16.8% year-over-year and down 34.3% month-over-month.
All residential average prices are at $381,868, a 5.3% increase from December 2020, and a 0.6% decrease from November 2021. Single-family homes averaged $462,110, a 7.7% year-over-year increase and a 1.1% increase from November 2021. Condominiums sold for an average of $217,065, a 0.1% decrease year-over-year, and prices are down 3.8% compared to November 2021. Duplex prices increased 9.6% from December 2020, selling at $362,906, a 4.3% increase from November 2021.
The MLS® Home Price Index (HPI) composite benchmark price* in the GEA came in at $410,900, a 5.2% increase from December 2020, and up 0.1% from November 2021.
“2021 was an incredible year for the Edmonton real estate market, including a record-breaking month in November,” says REALTORS® Association of Edmonton Chair Tom Shearer. “While we saw some substantial changes in the month-to-month activity, the year-over-year stats for residential unit sales and listings in the GEA were significantly higher than December of last year.”
Single-family homes averaged 46 days on the market, a seven-day decrease from December of last year. Condos averaged 65 days on the market, a three-day increase year-over-year, while duplexes averaged 47 days on the market, a 10-day decrease compared to December 2020. Overall, all residential listings averaged 52 days on the market, decreasing by six days year-over-year and increasing by three days compared to November 2021.
*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.
Tom Shearer, REALTOR®, 2021 Chair
Madeleine Burlin, Communications Manager
Allan Font CPA, CMA, CRAE Interim President and CEO
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2021 News Releases & Statistics
- December 2, 2021
- November 2, 2021
- October 2, 2021
- September 2, 2021
- August 3, 2021
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- June 2, 2021
- May 3, 2021
- April 5, 2021
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- February 2, 2021
- January 4, 2021
2020 News Releases & Statistics