December 2021 Greater Edmonton Real Estate Activity

We ended 2021 with a bang! While the sales during the holiday season declined from November, we finished the year with record year-to-date sales. In 2021, 24,652 residential properties sold versus an average of about 17,000 over the past four years.

The strong sales for the year were reflected in the decrease in inventory to a new low of 4495 units. This decrease was in spite of an increase in the number of homes listed. No doubt, 2021 was a seller’s market.

Regarding average home prices, the largest year-over-year price increase was in the Duplex/Row House category. It rose 9.6% to $362,906, followed by the Single-Family up by 7.7% to $462,110. The Condominium market however was basically flat with a slight decrease of -0.1% to $217,065.

Looking forward it appears the market will remain active but its difficult to imagine it could exceed last year. However, our crystal ball is as foggy as anyone's, and we wish all our clients and friends a very happy and healthy 2022!