{"id":20370,"date":"2022-11-10T10:39:18","date_gmt":"2022-11-10T15:39:18","guid":{"rendered":"https:\/\/www.zoocasa.com\/blog\/?p=20370"},"modified":"2022-11-10T10:39:20","modified_gmt":"2022-11-10T15:39:20","slug":"edmonton-oct-2022","status":"publish","type":"post","link":"https:\/\/www.zoocasa.com\/blog\/edmonton-oct-2022\/","title":{"rendered":"Edmonton Condo Prices On the Upswing As Demand Surges for More Affordability"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">The <a href=\"https:\/\/www.zoocasa.com\/edmonton-ab-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Edmonton<\/a> real estate market has <a href=\"https:\/\/www.zoocasa.com\/blog\/edmonton-area-cooling-off\/\" target=\"_blank\" rel=\"noreferrer noopener\">experienced a cooldown<\/a> in sales volume this fall after a relatively strong summer, driven by strong oil prices and greater affordability of homes. Prices of single-family, condo, and duplex\/row homes experienced marginal changes month-over-month in October, but the number of new residential listings across all property types saw a sharp decrease of 13% <a href=\"https:\/\/www.zoocasa.com\/blog\/edmonton-sept-2022\/\" target=\"_blank\" rel=\"noreferrer noopener\">compared to September<\/a>.\u00a0<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Condo Selling Prices Remain Strong<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.zoocasa.com\/blog\/trreb-october-2022\/\" target=\"_blank\" rel=\"noreferrer noopener\">Condo units have held their value<\/a> in many cities across the country as the <a href=\"https:\/\/www.zoocasa.com\/blog\/boc-oct-2022\/\" target=\"_blank\" rel=\"noreferrer noopener\">cost of borrowing<\/a> has increased six times so far this year. However, the property type experienced the largest decrease in number of sales month-over-month, down 13.9% from September. The significant drop in new listings is the major culprit. In comparison, single-family home sales were down by only 2.8% month-over-month, and duplex\/rowhouse sales were down 12.4% from September. According to the Realtors Association of Edmonton, new listings dropped 13% in October month-over-month. Nationally, the number of new listings edged down another 1% month-over-month but in some areas like the GTA, new listings are at historically low rates not seen since 2010, according to the Toronto Regional Real Estate Board (TRREB).\u00a0\u00a0<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Read: <\/strong><a href=\"https:\/\/www.zoocasa.com\/blog\/hidden-gems-edmonton-september-2022\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Hidden Gems for Sale in Edmonton, Alberta Under $325,000<\/strong><\/a><\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Although the number of sales is declining, down 6.7% from September, the value of condos remains strong. Condos sold for an average of $224,252, a decrease of only 0.3% year-over-year and an increase of 1.7% from September. Prices of single-family homes averaged $462,858, down only 0.3% month-over-month and still up by 2.7% year-over-year. Duplexes followed suit with single-family home price trends, still up by 3.7% year-over-year, but the average price of $372,027 decreased by 1% from September.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"750\" height=\"576\" src=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2022\/11\/Group-65-4-1-750x576.png\" alt=\"\" class=\"wp-image-20371\" srcset=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2022\/11\/Group-65-4-1-750x576.png 750w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2022\/11\/Group-65-4-1-300x230.png 300w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2022\/11\/Group-65-4-1-768x589.png 768w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2022\/11\/Group-65-4-1.png 1002w\" sizes=\"auto, (max-width: 750px) 100vw, 750px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Even as Inventory Tightens, Days on Market are Consistent&nbsp;<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">As we move into the colder months, it\u2019s normal to see a bit of a decline in inventory. Although still up by 0.8% from October 2021, prospective buyers may spend more time in the market as residential listings experienced that sharp decline from September.&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Read: <\/strong><a href=\"https:\/\/www.zoocasa.com\/blog\/real-estate-cycle-buyers-sellers\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>A Guide to the Real Estate Cycles for Buyers &amp; Sellers<\/strong><\/a><\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">The decline in inventory hasn\u2019t yet affected the days on market. Sellers can expect inventory to still move in line with previous months. Single-family and condo inventory is still moving consistently, averaging 44 and 55 days on market respectively. A decrease of one-day month-over-month for condos, while single-family average days on market remain the same. Duplexes are experiencing slightly longer listing periods, up by three days month-over-month to an average of 48 days on market.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Worried about inventory tightening while still on the hunt for a place to call home in Edmonton? We have qualified real estate agents in your area that can help you navigate the changing market and find your dream home. Download our free <a rel=\"noreferrer noopener\" href=\"http:\/\/zoocasa.ac-page.com\/home-buyers-guide\" target=\"_blank\">Buyer\u2019s Guide<\/a> and <a rel=\"noreferrer noopener\" href=\"https:\/\/www.zoocasa.com\/buy-with-zoocasa\" target=\"_blank\">give us a call today<\/a>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Edmonton Condos for Sale<\/h3>\n\n\n\n<!-- iframe plugin v.4.5 wordpress.org\/plugins\/iframe\/ -->\n<iframe loading=\"lazy\" src=\"https:\/\/www.zoocasa.com\/team\/listings-widget?rental=false&#038;status=available&#038;slug=edmonton-ab&#038;latitude=53.5195563982657&#038;longitude=-113.501299232644&#038;zoom=14&#038;detached=false&#038;semidetached=false&#038;attached=false&#038;townhouse=false&#038;condo=true&#038;bedrooms=0%2B&#038;bathrooms=1%2B&#038;parking-spaces=0%2B&#038;open-house=false&#038;garage=false&#038;pool=false&#038;fireplace=false&#038;waterfront=false&#038;single-family=false&#038;basement-apartment=false&#038;duplex=false&#038;triplex=false&#038;fourplex=false&#038;locker=any&#038;area-name=Edmonton%2C%20AB&#038;include-private-listings=true\" style=\"min-height: 500px;\" width=\"100%\" height=\"500\" scrolling=\"yes\" class=\"iframe-class\" frameborder=\"0\"><\/iframe>\n\n\n\n\n<h3 class=\"wp-block-heading\">Edmonton Single-Family Homes for Sale<\/h3>\n\n\n\n<!-- iframe plugin v.4.5 wordpress.org\/plugins\/iframe\/ -->\n<iframe loading=\"lazy\" src=\"https:\/\/www.zoocasa.com\/team\/listings-widget?rental=false&#038;status=available&#038;slug=edmonton-ab&#038;latitude=53.5195563982657&#038;longitude=-113.501299232644&#038;zoom=14&#038;detached=true&#038;semidetached=false&#038;attached=false&#038;townhouse=false&#038;condo=false&#038;bedrooms=0%2B&#038;bathrooms=1%2B&#038;parking-spaces=0%2B&#038;open-house=false&#038;garage=false&#038;pool=false&#038;fireplace=false&#038;waterfront=false&#038;single-family=false&#038;basement-apartment=false&#038;duplex=false&#038;triplex=false&#038;fourplex=false&#038;locker=any&#038;area-name=Edmonton%2C%20AB&#038;include-private-listings=true\" style=\"min-height: 500px;\" width=\"100%\" height=\"500\" scrolling=\"yes\" class=\"iframe-class\" frameborder=\"0\"><\/iframe>\n\n\n\n\n<h3 class=\"wp-block-heading\">Edmonton Row Houses for Sale<\/h3>\n\n\n\n<!-- iframe plugin v.4.5 wordpress.org\/plugins\/iframe\/ -->\n<iframe loading=\"lazy\" src=\"https:\/\/www.zoocasa.com\/team\/listings-widget?rental=false&#038;status=available&#038;slug=edmonton-ab&#038;latitude=53.5195563982657&#038;longitude=-113.501299232644&#038;zoom=14&#038;detached=false&#038;semidetached=false&#038;attached=true&#038;townhouse=false&#038;condo=false&#038;bedrooms=0%2B&#038;bathrooms=1%2B&#038;parking-spaces=0%2B&#038;open-house=false&#038;garage=false&#038;pool=false&#038;fireplace=false&#038;waterfront=false&#038;single-family=false&#038;basement-apartment=false&#038;duplex=false&#038;triplex=false&#038;fourplex=false&#038;locker=any&#038;area-name=Edmonton%2C%20AB&#038;include-private-listings=true\" style=\"min-height: 500px;\" width=\"100%\" height=\"500\" scrolling=\"yes\" class=\"iframe-class\" frameborder=\"0\"><\/iframe>\n\n\n\n<div class=\"cta\">\n<div class=\"cta-left\">\n<div class=\"cta-title\">Ready to make your move in the real estate market?<\/div>\n<div class=\"cta-body\">Sign Up for a Free Buyer Consultation<\/div>\n<\/div>\n<div class=\"cta-right\"><a href=\"https:\/\/www.zoocasa.com\/buy-with-zoocasa\"><button class=\"cta-button\">Talk To Our Experts<\/button><\/a><\/div>\n<\/div>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Edmonton real estate market has experienced a cooldown in sales volume this fall after a relatively strong summer, driven by strong oil prices and greater affordability of homes. Prices of single-family, condo, and duplex\/row homes experienced marginal changes month-over-month in October, but the number of new residential listings across all property types saw a [&hellip;]<\/p>\n","protected":false},"author":121,"featured_media":20372,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":{"subtitle":"","format":"standard","video":"","gallery":"","source_name":"","source_url":"","via_name":"","via_url":"","override":[{"single_blog_custom":"","sidebar":"","second_sidebar":"","share_position":"","share_float_style":"","post_date_format":"","post_date_format_custom":"","post_reading_time_wpm":"","zoom_button_out_step":"1","zoom_button_in_step":"1","number_popup_post":"1"}],"image_override":[{"single_post_thumbnail_size":"","single_post_gallery_size":""}],"trending_post_position":"","trending_post_label":"","sponsored_post_label":"","sponsored_post_name":"","sponsored_post_url":"","sponsored_post_logo":"","sponsored_post_desc":""},"jnews_primary_category":{"id":""},"footnotes":""},"categories":[1112,1160,33],"tags":[],"class_list":["post-20370","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-alberta","category-market-insights","category-real-estate-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Edmonton Condo Prices On the Upswing As Demand Surges for More Affordability | Zoocasa Blog<\/title>\n<meta name=\"description\" content=\"The Edmonton real estate market has experienced a cooldown in sales volume this fall after a relatively strong summer, driven by strong oil prices and Condo prices in Edmonton are still holding strong even as sales volume has begun to dip. 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Read more about the Oct 2022 Edmonton real estate market.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zoocasa.com\/blog\/edmonton-oct-2022\/\" \/>\n<meta property=\"og:site_name\" content=\"Zoocasa Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Zoocasa\" \/>\n<meta property=\"article:published_time\" content=\"2022-11-10T15:39:18+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-11-10T15:39:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2022\/11\/Zoocasa_Edmonton_October_2022_Hero.webp\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"338\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/webp\" \/>\n<meta name=\"author\" content=\"Patti Cosgarea\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Zoocasa\" \/>\n<meta name=\"twitter:site\" content=\"@Zoocasa\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Patti Cosgarea\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.zoocasa.com\/blog\/edmonton-oct-2022\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.zoocasa.com\/blog\/edmonton-oct-2022\/\"},\"author\":{\"name\":\"Patti Cosgarea\",\"@id\":\"https:\/\/www.zoocasa.com\/blog\/#\/schema\/person\/58db069b6f1e63e7b8dc3da91b554892\"},\"headline\":\"Edmonton Condo Prices On the Upswing As Demand Surges for More Affordability\",\"datePublished\":\"2022-11-10T15:39:18+00:00\",\"dateModified\":\"2022-11-10T15:39:20+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.zoocasa.com\/blog\/edmonton-oct-2022\/\"},\"wordCount\":694,\"publisher\":{\"@id\":\"https:\/\/www.zoocasa.com\/blog\/#organization\"},\"articleSection\":[\"Alberta\",\"Market Insights\",\"Real Estate News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.zoocasa.com\/blog\/edmonton-oct-2022\/\",\"url\":\"https:\/\/www.zoocasa.com\/blog\/edmonton-oct-2022\/\",\"name\":\"Edmonton Condo Prices On the Upswing As Demand Surges for More Affordability | Zoocasa Blog\",\"isPartOf\":{\"@id\":\"https:\/\/www.zoocasa.com\/blog\/#website\"},\"datePublished\":\"2022-11-10T15:39:18+00:00\",\"dateModified\":\"2022-11-10T15:39:20+00:00\",\"description\":\"The Edmonton real estate market has experienced a cooldown in sales volume this fall after a relatively strong summer, driven by strong oil prices and Condo prices in Edmonton are still holding strong even as sales volume has begun to dip. 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