July’s housing market proved to be not as hot as the weather has been. Let’s take a brief look.
Home Prices
The average all-residential selling price for the month was $399,000, which is about 0.7% less than June 2022. The year-over-year price increased by 2.4%.
Sales and Inventory
Real estate sales decreased by 10.4% compared to July of 2021, sitting at approximately 1,375 sales for the month. By the end of July, the inventory was at 6,604, about 17.6% less than last year.
Conclusion
July was the first month this year that we saw consistent decreases in month-over-month statistics.
Data provided by REALTORS® Association of Edmonton. For more information, visit their website.
