November 2021 Greater Edmonton Real Estate Activity

Wow, we had strong sales for this time of year as Buyers were unusually active this past November. Sales increased 30.9% when compared to last November and only dropped by 2.1% from October. We would normally expect around 1200-unit sales, but we realized a total of 1823, only forty-three less than what we saw in an extraordinarily strong October market!

The Duplex/Townhome category led the way with an increase of 61.8% year-over-year followed by Condominiums up by 32.5% and the Single-Family homes a plus 24.2%.

Prices overall were up a tad when compared to October except for Duplex/Townhomes which decreased by about 3%. With that said, our market is still offering excellent value when compared to other regions. Our average residential home price of $384,319 is only 2.0% higher than last year. Not bad when all the news is about run-away inflation. Move west young folks, there’s value here!

I notice our overall inventory going into December is the lowest we have seen in four years. We might very well start the new year with Sellers in the driver’s seat until the number of listings begin to catch up.

Until then, Happy Holidays to you and your family and friends!