{"id":21297,"date":"2023-03-10T13:00:00","date_gmt":"2023-03-10T18:00:00","guid":{"rendered":"https:\/\/www.zoocasa.com\/blog\/?p=21297"},"modified":"2023-03-09T10:28:12","modified_gmt":"2023-03-09T15:28:12","slug":"edmonton-report-feb-2023","status":"publish","type":"post","link":"https:\/\/www.zoocasa.com\/blog\/edmonton-report-feb-2023\/","title":{"rendered":"Edmonton Real Estate Sales Improve Following a Slow Start to 2023"},"content":{"rendered":"\n<p>After a <a href=\"https:\/\/www.zoocasa.com\/blog\/edmonton-jan-2023\/\" target=\"_blank\" rel=\"noreferrer noopener\">slow start to 2023<\/a>, <a href=\"https:\/\/www.zoocasa.com\/edmonton-ab-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Edmonton\u2019s<\/a> real estate market experienced a sales boost in February with 31.2% more homes trading hands this month, according to the Realtors Association of Edmonton.&nbsp;<\/p>\n\n\n\n<p><strong><em>Enjoying our content? Subscribe to our free <\/em><\/strong><a href=\"http:\/\/zoocasa.com\/newsletter\" target=\"_blank\" rel=\"noreferrer noopener\"><strong><em>weekly newsletter<\/em><\/strong><\/a><strong><em> to get Canadian real estate market insights, news, and reports straight to your inbox.<\/em><\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Sentiment is Improving as we Move Towards a Strong Spring Market<\/h2>\n\n\n\n<p>There were 1,291 sales in February, up from last month\u2019s 986. While an improvement month-over-month, numbers are still down 43.4% compared to last year\u2019s explosive real estate market, but that is to be somewhat expected since <a rel=\"noreferrer noopener\" href=\"https:\/\/www.zoocasa.com\/blog\/real-estate-cycle-buyers-sellers\/\" target=\"_blank\">winter tends to be the season when prospective buyers and sellers prepare for the spring market<\/a>. Coupled with rising interest rates, many Canadian markets experienced a slow start to the year. The increased activity this month is providing optimism that the spring market will be\u00a0strong, since sideline buyers finally seem ready to jump back in.\u00a0<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Read:<\/strong><a href=\"https:\/\/www.zoocasa.com\/blog\/last-time-prices-this-low-canada\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong> The Last Time Canadian Housing Prices Were This Low<\/strong><\/a><\/li><\/ul>\n\n\n\n<p>Despite the increased sales numbers and heightened optimism, almost every property type is spending more time on market compared to the same period last year. Currently, properties are trading hands in an average of 57 days, an increase of 10 days year-over-year, however, this is nine days less than the average last month.\u00a0 Apartment condos are spending the longest on market, at an average of 65 days, however, that is 17 days less than the average for the same property type in January. Detached homes moved the quickest in February, at an average of 54 days on market, down 11 days from January. While, semi-detached and row\/townhouses averaged 56 and 60 days on market respectively, a month-over-month increase of six days for semi-detached properties, and a decrease of three days for tow\/townhouses.\u00a0\u00a0<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Edmonton Detached 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<h2 class=\"wp-block-heading\">Buyers Will Finally Have More Options to Choose From<\/h2>\n\n\n\n<p>Inventory improved for the second month in a row, with an 8.9% increase in the number of homes for sale over January, resulting in 5,686 currently on the market. With greater sales numbers and inventory available, it would suggest that a lot of sellers who waited out the winter have decided to list their homes in preparation for the spring. Additionally, with greater available options, buyers will have more potential properties to choose from in the coming months.<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Read: <\/strong><a href=\"https:\/\/www.zoocasa.com\/blog\/income-properties-alberta-jan-2023\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Income Properties Available in Alberta Starting at $499,800<\/strong><\/a><\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Prices Aren\u2019t Budging Despite Increased Activity<\/h2>\n\n\n\n<p>Prices have stayed relatively flat while sales numbers have improved. The average regional price was down 0.2% from last month to $369,286. Each property type has only experienced small increases, other than apartments, where the average price has dipped by 0.8% to $187,325. The highest increase came in the detached sector, where prices jumped 1.8% to $459,600. The slight price increase in detached homes signals that buyers in Edmonton are favouring this property type, and as more buyers come back into the market in the months to come, prices may experience more growth if the demand continues to grow, although likely not to the heights seen in early 2022.&nbsp;<\/p>\n\n\n\n<p>Looking for the perfect property in Edmonton to call your home sweet home? <a rel=\"noreferrer noopener\" href=\"https:\/\/www.zoocasa.com\/buy-with-zoocasa\" target=\"_blank\">Give us a call<\/a> to speak to one of our local agents who can help you find your next home.<\/p>\n\n\n<div class=\"cta\">\n<div class=\"cta-left\">\n<div class=\"cta-title\">Is Edmonton Where You Want To Be?<\/div>\n<div class=\"cta-body\">Sign up for a free Consultation<\/div>\n<\/div>\n<div class=\"cta-right\"><a href=\"https:\/\/www.zoocasa.com\/sell-with-zoocasa\"><button class=\"cta-button\">Talk To Our Experts<\/button><\/a><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>After a slow start to 2023, Edmonton\u2019s real estate market experienced a sales boost in February with 31.2% more homes trading hands this month, according to the Realtors Association of Edmonton.&nbsp; Enjoying our content? Subscribe to our free weekly newsletter to get Canadian real estate market insights, news, and reports straight to your inbox. Sentiment [&hellip;]<\/p>\n","protected":false},"author":119,"featured_media":21298,"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":[1112,1111],"tags":[],"class_list":["post-21297","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-alberta","category-canada"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Edmonton Real Estate Sales Improve Following a Slow Start to 2023 | Zoocasa Blog<\/title>\n<meta name=\"description\" content=\"Real estate sales have improved in Edmonton for February. 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