February 2023 Market Update

As of February 2023, the real estate market in Edmonton is showing signs of both stability and growth. According to the MLS® Home Price Index (HPI), the composite benchmark price in the Greater Edmonton Area (GEA) was $371,600, which is a decrease of 5.9% from February 2022 but an increase of 0.8% from January 2023.

The average number of days that residential listings spent on the market was 57, which is a decrease of nine days from January 2023. However, it is still an increase of 10 days from the previous year. Detached homes averaged 54 days on the market, while semi-detached homes averaged 56 days, and row/townhouses averaged 60 days. Apartment condominiums experienced a significant decrease in days on the market, with an average of 65 days, which is a drop of 17 days from January 2023.

Fort Saskatchewan Real Estate Market Update February 2023

Sherwood Park Real Estate Market Update February 2023

Edmonton Real Estate Market Update February 2023

Despite the decrease in benchmark prices from the previous year, there are still large percentage increases month-over-month in many categories. The REALTORS® Association of Edmonton 2023 Board Chair, Melanie Boles, is optimistic about the upcoming Spring market and believes there is a lot to look forward to in the warmer months. Overall, the real estate market in Edmonton is displaying positive signs of growth and stabilization.

For more information, please reach out! I would love to help you navigate the spring housing market.