Total residential unit sales in the Greater Edmonton Area (GEA) 

real estate market decreased 1.6%

 compared to April 2022, yet saw a year-over-year increase of 4.4% from May 2021.

New residential listings increased 2.1%

 month-over-month from April 2022 and 13.1% from May of last year.

For May, single-family home unit sales were down 3.4% from May 2021, but increased 1.9% from April 2022 at 1,736. 

Condo unit sales increased 28.6% from May 2021 but were down 9% from April 2022.

 Duplex/rowhouse unit sales were up 5.8% year-over-year yet decreased 1.4% month-over-month.

Single-family homes averaged $492,037,

Condominiums sold for an average of $239,011,

seeing a decrease of 1.2% year-over-year, with only an increase of 0.3% when compared to April 2022. 

Duplex prices increased 10.5% from May 2021, selling at $395,783,

resulting in a 3.3% decrease from April 2022.

“We’re starting to see a slow down of the real estate market in the Greater Edmonton Area as we head into the early days of summer,” says REALTORS® Association of Edmonton Chair Paul Gravelle. “While we continue to see a lot of activity in the market, we’re not seeing as big of month-to-month changes for pricing, sales and days-on-market that we did earlier this year.”

Single-family homes averaged 23 days on the market

, seeing no change from April 2022. 

Condos averaged 44 days on the market

, decreasing by one day month-over-month, while 

duplexes averaged 25 days on the market,

a one-day increase compared to last month. Overall, all residential listings averaged 29 days on the market, decreasing by four days year-over-year and down two days as compared to April 2022.