State of the Real Estate Market: April 2022

Balanced market conditions were on the rise in April! On average for the regions featured in this report home sales fell 27% from the highs of March 2021 and fell 23% month over month. Along with a decrease in sales was a less sizeable 7% decrease in new listings, which pushed many markets in Ontario into balanced market conditions, while Manitoba and Alberta remain seller’s markets overall.  
 
Like last month, almost all regions in this report witnessed a decrease in year-over-year sales activity. Only Edmonton21 and Calgary19 saw increases compared to April 2021. And unlike March, all regions, except for Winnipeg22, saw month-over-month decreases in sales activity. Regions that saw the greatest decrease in sales compared to March were York2, down 36%, as well as Peel2 and Halton2, both down 27%.  

Moving on to new listings, it was a mixed bag, with some regions including Edmonton21 and Kitchener-Waterloo8 posting double-digit increases month over month, while others like York2 and Calgary19 saw double-digit declines. Year over year, it was a similar story with some regions seeing substantial gains, like Barrie17 being up 16%, and others seeing declines, like Winnipeg22 and York2 both down 19%. On average, new listings increased 1% year over year and decreased 7% month over month. The decline in new listings coupled with a greater decline in sales allowed active listings to increase both year over year and month over month, up 19% and 22% respectively. This is great news for buyers as inventory has been at historic lows in many regions.  
 
Edmonton21, Calgary19, Winnipeg22, and every region in Ontario saw their sales-to-new-listings (STNL) ratio decrease compared to March. For Ontario regions, except for Ottawa5, all moved into balanced market and buyer’s market conditions. This is due to the large increases in active listings and decrease in sales. For Edmonton21, Calgary19, and Winnipeg22, the decrease in the STNL ratio was not enough to push them out of their seller’s markets.

Like the month previous, all regions saw average selling prices increase year over year. For regions featured in this report, prices increased on average by 18% year over year and fell 12% month over month. The only regions to post month-over-month gains in average selling prices were Toronto2, Edmonton21, and Winnipeg22.

In April, there was an encouraging boost to the amount of supply available in the market. Buyer demand is still high in many regions, but more homes being available for purchase has helped curb price growth and offer more options in the market for buyers.   

Map of Ontario showing where FairSquare operates

Ontario 

The Ontario Real Estate Association (OREA) reported 20,021 home sales in April, which is typical volume for this time of year.1 Month over month, the market saw a decrease in sales after a hotter March market, down 18%. And even though there was more inventory in the market month over month, demand slowed in April.  

New listings totalled 39,490 across the province in April, a decrease of 8% year over year and 1% month over month. Sales decreased more than new listings month over month, which resulted in the sales-to-new-listings (STNL) ratio falling, now sitting at 51%. Ontario has entered a balanced market, since a STNL ratio of 40-60% is considered to be a balanced market.  

 As for inventory at month-end, active listings saw a sizeable increase month over month, up 36%. This increase without the sales to chip away at it caused the months of inventory to increase from 0.8 to 1.4 months. Average selling prices fell below the $1 million mark in April. The average selling price increased 13% year over year and decreased 6% month over month, sitting at $985,354 for a home in Ontario. 

Toronto 

Toronto has returned to balanced conditions in April, as the sales-to-new-listings (STNL) ratio fell to 49% (A STNL ratio of 40-60% is considered to be balanced conditions). Although the STNL ratio indicates more balanced conditions, homes are only selling two days slower compared to March, despite the 27% increase in active listings over the same time period. In addition, average selling prices are holding steady, up 14% year over year and 2% month over month. Buyer demand is still high for all product types and the average selling price continues to be well over $1 million for townhomes, semi-detached homes, and detached homes.  

 The Toronto Regional Real Estate Board (TRREB) reports2 3 4: 

  • Market: Balanced Market 
  • Sales: 3,024 (down 36% year over year and down 24% month over month)
  • New listings: 6,164 (down 18% year over year and down 6% month over month)
  • Active listings: 4,732 (up 2% year over year and up 27% month over month)
  • Sales-to-new-listings ratio: 49% (previous month was 61%)
  • Average days on market: 12 (up 9% year over year and up 20% month over month)
  • Average detached selling price: $1,947,975 (up 26% year over year and up 2% month over month)
  • Average semi-detached selling price: $1,494,640 (up 14% year over year and down 3% month over month)
  • Average townhouse selling price: $1,345,443 (up 11% year over year and down 9% month over month)
  • Average condo selling price: $820,835 (up 13% year over year and down 1% month over month)
  • All residential average selling price: $1,243,070 (up 14% year over year and up 2% month over month) 

Comments from TRREB President Kevin Crigger: “Based on the trends observed in the April housing market, it certainly appears that the Bank of Canada is achieving its goal of slowing consumer spending as it fights high inflation. Negotiated mortgage rates rose sharply over the past four weeks, prompting some buyers to delay their purchase.” 

Peel

Active and new listings greatly outpaced home sales in April which resulted in the Peel region entering buyer market conditions based on the sales-to-new-listings (STNL) ratio of 39%. The increase in supply helped decrease average selling prices by 2% month over month, though average prices are still up 20% year over year and are well over $1 million. Homes are also taking three days longer to sell on average compared to March, which supports active listings increasing a substantial 35% month over month – great news for home buyers in Peel!  

The Toronto Regional Real Estate Board (TRREB) reports2 3 4:

  • Market: Buyer's Market
  • Sales: 1,535 (down 44% year over year and down 27% month over month)
  • New listings: 3,893 (down 8% year over year and down 5% month over month)
  • Active listings: 2,564 (up 22% year over year and up 35% month over month)
  • Sales-to-new-listings ratio: 39% (previous month was 51%)
  • Average days on market: 10 (at par year over year and up 43% month over month)
  • Average detached selling price: $1,626,029 (up 23% year over year and down 3% month over month)
  • Average semi-detached selling price: $1,144,949 (up 24% year over year and down 6% month over month)
  • Average townhouse selling price: $1,040,528 (up 22% year over year and down 8% month over month)
  • Average condo selling price: $701,272 (up 24% year over year and down 4% month over month)
  • All residential average selling price: $1,242,343(up 20% year over year and down 2% month over month)

Comments from TRREB Chief Market Analyst Jason Mercer: “Despite slower sales, market conditions remained tight enough to support higher selling prices compared to last year. However, in line with TRREB’s forecast, there is evidence of buyers responding to increased choice in the marketplace, with the average and benchmark prices dipping month-over-month. It is anticipated that there will be enough competition between buyers to support continued price growth relative to 2021, but the annual pace of growth will moderate in the coming months.”

Durham

Durham remained in balanced market conditions in April, as new listings continued to outpace sales. Even after a substantial increase in active listings in March, homes on the market increased further this month, up 31% month over month and 45% year over year. The increase in active listings helped stunt selling prices from climbing further. All product types saw month-over-month decreases in average selling prices, upwards of 11%. Even still, the average selling price is still up a substantial 20% year over year and is still above the $1 million mark for a home in the Durham region.

The Toronto Regional Real Estate Board (TRREB) reports2 3 4:

  • Market: Balanced Market
  • Sales: 1,089 (down 39% year over year and down 22% month over month)
  • New listings: 2,338 (at par year over year and down 6% month over month)
  • Active listings: 1,278 (up 45% year over year and up 31% month over month)
  • Sales-to-new-listings ratio: 47% (previous month was 56%)
  • Average days on market: 8 (down 11% year over year and up 14% month over month)
  • Average detached selling price: $1,192,065 (up 20% year over year and down 5% month over month)
  • Average semi-detached selling price: $870,689 (up 17% year over year and down 11% month over month)
  • Average townhouse selling price: $928,999 (up 22% year over year and down 8% month over month)
  • Average condo selling price: $659,734 (up 34% year over year and down 6% month over month)
  • All residential average selling price: $1,075,332 (up 20% year over year and down 6% month over month)

Comments from TRREB President Kevin Crigger: “Based on the trends observed in the April housing market, it certainly appears that the Bank of Canada is achieving its goal of slowing consumer spending as it fights high inflation. Negotiated mortgage rates rose sharply over the past four weeks, prompting some buyers to delay their purchase.”

York

After being in a balanced market in February and March, York region moved into buyer’s market conditions in April, as indicated by the sales-to-new-listings (STNL) ratio of 38% (under 40% is considered to be a buyer’s market). Although both sales and new listings decreased month over month to the tune of 36% and 18%, respectively, active listings increased 20% over the same time period, adding welcome inventory to the market. The increase in active listings caused average days on market to increase by three days compared to March, though it is on par with average days on market seen in April 2021. As a result of increased inventory and softer demand, average selling prices decreased 6% month over month, but are still up 11% year over year.

The Toronto Regional Real Estate Board (TRREB) reports2 3 4:

  • Market: Buyer's Market
  • Sales: 1,230 (down 50% year over year and down 36% month over month)
  • New listings: 3,269 (down 19% year over year and down 18% month over month)
  • Active listings: 2,665 (down 2% year over year and up 20% month over month)
  • Sales-to-new-listings ratio: 38% (previous month was 48%)
  • Average days on market: 12 (at par year over year and up 33% month over month)
  • Average detached selling price: $1,761,834 (up 14% year over year and down 7% month over month)
  • Average semi-detached selling price: $1,259,347 (up 21% year over year and down 6% month over month)
  • Average townhouse selling price: $1,265,285 (up 22% year over year and down 4% month over month)
  • Average condo selling price: $759,751 (up 14% year over year and down 4% month over month)
  • All residential average selling price: $1,426,650 (up 11% year over year and down 6% month over month)

Comments from TRREB President Kevin Crigger: “Based on the trends observed in the April housing market, it certainly appears that the Bank of Canada is achieving its goal of slowing consumer spending as it fights high inflation. Negotiated mortgage rates rose sharply over the past four weeks, prompting some buyers to delay their purchase.”

Halton

The Halton region remained in a balanced market in April, as new listings increased at a greater rate than sales month over month, down 7% and 27% respectively. The volume of active listings at month end is encouraging for buyers, as volume was up significantly both year over year and month over month. The increase in new listings caused homes to sit two days longer on market than the month previous and impacted average selling prices by decreasing 9%. The region is seeing more inventory on the market and pricing is starting to reflect that.

The Toronto Regional Real Estate Board (TRREB) reports2 3 4:

  • Market: Balanced Market
  • Sales: 824 (down 41% year over year and down 27% month over month)
  • New listings: 1,922 (down 2% year over year and down 7% month over month)
  • Active listings: 1,273 (up 34% year over year and up 38% month over month)
  • Sales-to-new-listings ratio: 43% (previous month was 55%)
  • Average days on market: 10 (at par year over year and up 25% month over month)
  • Average detached selling price: $1,779,951 (up 16% year over year and down 7% month over month)
  • Average semi-detached selling price: $1,099,648 (up 11% year over year and down 12% month over month)
  • Average townhouse selling price: $1,101,830 (up 16% year over year and down 11% month over month)
  • Average condo selling price: $746,478 (up 10% year over year and down 8% month over month)
  • All residential average selling price: $1,383,948 (up 15% year over year and down 9% month over month)

Comments from TRREB President Kevin Crigger: “Based on the trends observed in the April housing market, it certainly appears that the Bank of Canada is achieving its goal of slowing consumer spending as it fights high inflation. Negotiated mortgage rates rose sharply over the past four weeks, prompting some buyers to delay their purchase.”

Ottawa

The Ottawa market continued to favour sellers; however, the sales-to-new-listings (STNL) ratio declined from 76% in March to 66% in April. This indicates the market is in a seller’s market but may signal we are potentially trending towards more balanced conditions as sales decreased 6% and new listings increased 8% month over month. Despite an increase in new listings, average selling prices saw little movement compared to March; condominium-class properties decreased 3% and residential-class properties decreased just 1% month over month. The fact the market remains at under one month of supply is helping keep average selling prices high.

The Ottawa Real Estate Board (OREB) reports5:

  • Market: Seller's Market
  • Sales: 1,889 (down 21% year over year and down 6% month over month)
  • New listings: 2,846 (down 11% year over year and up 8% month over month)
  • Sales-to-new-listings ratio: 66% (previous month was 76%)
  • Number of condominium-class properties sold: 470 (down 13% year over year and down 9% month over month)
  • Number of residential-class properties sold: 1,419 (down 23% year over year and down 5% month over month)
  • Average condo selling price: $829,318 (up 12% year over year and down 3% month over month)
  • Average residential selling price: $473,702 (up 11% year over year and down 1% month over month)

Comments from OREB President Penny Torontow: “With the number of transactions just slightly over the 5-year average, this was one of the weakest performing Aprils we have seen in a while. Considering that the number of new listings increased last month, it is a bit of a surprise that sales were off... The fact remains that it is still a Seller’s market with supply under one month. Bidding wars and multiple offers persist in some pockets, prices continue to rise, albeit more moderately, and the market remains relatively strong.”

Hamilton-Burlington

The Hamilton-Burlington region entered balanced conditions as new listings outpaced home sales bringing the sales-to-new-listings (STNL) ratio to 53% (a ratio of 40%-60% is considered to be a balanced market). The increase in new listings helped decrease average selling prices by 6% month . However, compared to the same time last year, home prices are still up 18% and inventory is still considered low, despite a 10-year high of new listings coming onto the market.

The REALTORS® Association of Hamilton-Burlington (RAHB) reports6:

  • Market: Balanced Market
  • Sales: 1,298 (down 31% year over year and down 21% month over month)
  • New listings: 2,451 (down 7% year over year and down 4% month over month)
  • Sales-to-new-listings ratio: 53% (previous month was 64%)
  • Average selling price in Hamilton: $949,149 (up 21% year over year and down 5% month over month)
  • Average selling price in Burlington: $1,228,723 (up 16% year over year and down 6% month over month)
  • Average selling price in Niagara North: $1,080,942 (up 18% year over year and up 5% month over month)
  • Average selling price in Haldimand County: $794,095 (up 17% year over year and down 19% month over month)
  • All residential average selling price: $1,013,081 (up 18% year over year and down 6% month over month)

Comments from RAHB President Lou Piriano: “With the exception of last year, new listings coming to market exceed that of every other April for the last ten years. With the increase in inventory, buyers are finally experiencing more choices in the market. While inventory is still below the norm, we finally see signs of a more balanced market as the number of active listings increases. The rise in interest rates has likely attributed to a decrease in the number of sales month over month in every residential property category across the RAHB market area. While average prices remain strong, and still above the $1 million mark, we did experience another dip for the second month in a row."

Niagara 

After a substantial increase in sales and new listings in March, the Niagara region saw a more modest April with a 15% decrease in sales and a 7% increase in new listings month over month.  As new listings outpaced sales, the sales-to-new-listings ratio decreased from 64% to 51% in April which brought some relief to inventory levels and moved the market into balanced conditions. As a result, the average days on market increased month-over-month by three days, while the average selling price decreased 1%.

The Niagara Association of REALTORS®(NAR)7:

  • Market: Balanced Market
  • Sales: 707 (down 35% year over year and down 15% month over month)
  • New listings: 1,382 (up 4% year over year and up 7% month over month)
  • Sales-to-new-listings ratio: 51% (previous month was 64%)
  • Average days on market: 14 (down 7% year over year and up 27% month over month)
  • Benchmark price for a home in St. Catharines: $765,700 (up 25% year over year and at par month over month)
  • Benchmark price for a home in Niagara Falls: $763,700 (up 31% year over year and down 1% month over month)
  • Benchmark price for a home in Welland: $652,800 (up 24% year over year and down 5% month over month)
  • Benchmark price for a home in Fort Erie: $667,000 (up 27% year over year and down 2% month over month)
  • Overall benchmark price for a home in the Niagara region: $814,600 (up 27% year over year and down 1% month over month)

Kitchener-Waterloo

A decrease in sales coupled with an increase in new listings resulted in the sales-to-new-listings (STNL) ratio decreasing from 64% in March to 50% in April, indicating the Kitchener-Waterloo region is now in balanced market conditions. The 59% increase in active listings month over month influenced homes sitting on the market for one additional day compared to March, as well as selling for 6% less over the same time period. Year over year, average prices still remain up an impressive 20%.

The Kitchener-Waterloo Association of REALTORS® (KWAR) reports8 9:

  • Market: Balanced Market
  • Sales: 633 (down 25% year over year and down 13% month over month)
  • New listings: 1,277 (up 16% year over year and up 13% month over month)
  • Active listings: 703 (up 49% year over year and up 59% month over month)
  • Sales-to-new-listings ratio: 50% (previous month was 64%)
  • Average days on market: 9 (at par year over year and up 13% month over month)
  • Average detached selling price: $1,060,992 (up 18% year over year and down 6% month over month)
  • Average townhome selling price: $785,394 (up 20% year over year and down 11% month over month)
  • Average apartment-style condominium selling price: $600,219 (up 35% year over year and up 6% month over month)
  • All residential average selling price: $907,205 (up 20% year over year and down 6% month over month)

Comments from KWAR President Megan Bell: "Last month introduced a small measure of relief to the market. While the number of sales remains strong, and sale prices continue to turn out robust annual gains, we’re seeing fewer multiple offers and more conditions on offers making their way back into the market... The trajectory the market was on was simply not sustainable, however, I want to emphasize it would be premature to draw any conclusions on just a single month’s activity.  The housing market in Waterloo Region is still very much a sellers’ market, but sellers may need to adjust their expectations."

Guelph

The Guelph region saw the largest number of new listings added in the month of April on record. This increase in new listings coupled with a decrease in sales resulted in the sales-to-new-listings (STNL) ratio decreasing from 64% in March to 49% in April; this indicates the market is currently balanced. Benchmark selling prices are still up substantially year over year, to the tune of 29%. However, month over month the benchmark price decreased by 2% and is hovering at the $1M mark.

The Guelph and District Association of REALTORS (GDAR) reports10:

  • Market: Balanced Market
  • Sales: 419 (down 27% year over year and down 22% month over month)
  • New listings: 857 (up 14% year over year and up 2% month over month)
  • Active listings: 533 (up 38% year over year and up 53% month over month)
  • Sales-to-new-listings ratio: 49% (previous month was 64%)
  • Benchmark price for a detached home: $1,034,600 (up 28% year over year and down 2% month over month)
  • Benchmark price for a townhome: $734,100 (up 28% year over year and down 2% month over month)
  • Benchmark price for a condominium: $640,700 (up 37% year over year and up 1% month over month)
  • Overall benchmark price for a home: $1,001,700 (up 29% year over year and down 2% month over month)

Comments from GDAR President Dustin Davis: "Sales activity was down from last April’s record to more typical levels for this time of year. New listings, on the other hand, shot up to a new record in April, helping to continue lift overall inventories from the rock-bottom levels of late 2021 and shifting the market towards more balanced territory. If these trends continue to play out over the remainder of the year in response to higher interest rates, we may likely see a return to more normal market conditions after the historical tightness of the past two years."

London

After a substantial increase of new listings in March, April saw a more modest increase of 4% month over month. The increase in new listings coupled with a decrease in sales, resulted in the sales-to-new-listings (STNL) ratio decreasing from 68% in March to 55% in April. This indicates the London region is experiencing balanced market conditions. This is further supported by the 52% increase in active listings month over month, which influenced average days on market to increase by one day and average selling prices for all product types to decrease by 6%.

The London and St. Thomas Association of REALTORS® (LSTAR) reports11 12:

  • Market: Balanced Market
  • Sales: 877 (down 23% year over year and down 16% month over month)
  • New listings: 1,609 (up 10% year over year and up 4% month over month)
  • Active listings: 1,010 (up 52% year over year and up 52% month over month)
  • Sales-to-new-listings ratio: 55% (previous month was 68%)
  • Median days on market: 8 (up 14% year over year and up 14% month over month)
  • Average detached selling price: $840,415 (up 19% year over year and down 6% month over month)
  • Average townhouse selling price: $618,049 (up 26% year over year and down 11% month over month)
  • Average condo selling price: $476,283 (up 23% year over year and down 5% month over month)
  • All residential average selling price: $771,682 (up 19% year over year and down 6% month over month)

Comments from LSTAR President Randy Pawlowski13: “These figures suggest a soft landing of the local real estate market: the April home sales are on par with the ten-year average and last month's sales-to-new listings ratio of 54.5% signals that we’re trending towards a more balanced market.”

Windsor

A significant boost in new listings in March and April compared to the first two months of 2022 has aided in adding considerable inventory to the Windsor market. Since sales did not keep pace with new listings, it caused the sales-to-new-listings (STNL) ratio to drop to 55%, indicating the region is now in balanced market conditions. Average selling prices are still up over 20% year over year, however prices declined 4% compared to March.

The Windsor-Essex County Association of REALTORS® (WECAR) reports14 15 16:

  • Market: Balanced Market
  • Sales: 586 (down 19% year over year and down 16% month over month)
  • New listings: 1,074 (up 13% year over year and up 2% month over month)
  • Active listings: 726 (up 51% year over year and up 51% month over month)
  • Sales-to-new-listings ratio: 55% (previous month was 66%)
  • All residential average selling price: $692,759 (up 21% year over year and down 4% month over month)

Barrie and Simcoe County

Barrie and Simcoe County saw a modest increase in new listings month over month, and a more sizeable decrease in sales over the same time period. As a result, the sales-to-new-listings (STNL) ratio decreased from 51% in March to 38% in April, which pushed the region into a buyer’s market. Active listings increased a substantial 50% month over month, a much-welcomed boost in supply for buyers. Benchmark selling prices for detached homes fell below the $1M mark, and average selling prices for all product types decreased 2%, but remain up year over year to the tune of 31%.

The Barrie & District Association of REALTORS® reports17:

  • Market: Buyer's Market
  • Sales: 419 (down 42% year over year and down 23% month over month)
  • New listings: 1,109 (up 16% year over year and up 4% month over month)
  • Active listings: 726 (up 57% year over year and up 50% month over month)
  • Sales-to-new-listings ratio: 38% (previous month was 51%)
  • Benchmark price for a detached home: $982,700 (up 31% year over year and down 2% month over month)
  • Benchmark price for a townhome: $682,500 (up 27% year over year and down 3% month over month)
  • Benchmark price for a condominium: $593,300 (up 34% year over year and at par month over month)
  • Overall benchmark price for a home: $939,500 (up 31% year over year and down 2% month over month)

Comments from BDAR President Luc Woolsey: "Sales activity declined from last year’s astronomical record to the lower end of the average range for this time of year. New listings, on the other hand, posted a record showing for the month of April. With sales down and new listings up this meant that some much-needed supply flowed back into the market.”

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Map of Alberta showing where FairSquare operates

Alberta

The 9,830 sales across Alberta in April were record highs for the month,18 despite sales decreasing 10% month over month. After a substantial boost in new listings in March, new listings were essentially on par both year over year and month over month in April, up 1% and down 2% respectively. Months of inventory increased from approximately 1.5 months to just over two months of inventory, which is welcome news for buyers in this tight market. Regardless of the increase, inventories have not been this low in the month of April in over a decade.

Average selling prices decreased a marginal 2% month over month but are still up year over year to the tune of 6%. In April, the average price for a home in Alberta was $465,579. The consistency in average selling price and tight inventory levels are testaments to the seller’s market Alberta is experiencing.

Calgary 

Sales activity slowed in April compared to the record-highs seen in March. Despite this, sales were still up 6% year over year, and marked a record high for the month of April, making it the third consecutive month home sales have hit record highs. New and active listings continued to climb month over month, which helped to increase inventory levels in this consistent seller’s market.

The Calgary Real Estate Board (CREB) reports19 20:  

  • Market:Seller's Market  
  • Sales: 3,401 (up 6% year over year and down 17% month over month)  
  • New listings: 4,577 (down 2% year over year and down 17% month over month)  
  • Active listings: 4,850 (down 20% year over year and up 11% month over month)  
  • Sales-to-new-listings ratio: 74% (previous month was 75%)  
  • Average price for a detached home: $669,028 (up 13% year over year and at par month over month)  
  • Average price for a semi-detached home: $563,340 (up 5% year over year and down 4% month over month)  
  • Average price for a townhouse: $368,519 (up 12% year over year and up 3% month over month)  
  • Average price for a condo: $272,600 (up 8% year over year and down 6% month over month)  
  • Overall average price for a home: $532,093 (up 5% year over year and down 1% month over month)   

Comments from CREB® Chief Economist Ann-Marie Lurie: “Despite some of the monthly pullback, it is important to note that sales remain exceptionally strong and are likely being limited due to supply choice in the market. While further rate increases will likely start to dampen demand later this year, more pullbacks in new listings this month are ensuring the market continues to favour the seller, resulting in further price gains.”

Edmonton   

The Edmonton market moved closer to balanced conditions as sales decreased and new listings increased month over month. Despite the 23% increase in active listings at month end, homes were selling three days faster and for 1% more compared to March. Demand is still high in Edmonton as we head into the warmer weather.

The REALTORS® Association of Edmonton (RAE) reports21:  

  • Market:Seller's Market  
  • Sales: 2,919 (up 2% year over year and down 11% month over month)  
  • New listings: 4,719 (up 9% year over year and up 10% month over month)  
  • Active listings: 6,468 (down 13% year over year and up 23% month over month)  
  • Sales-to-new-listings ratio: 62% (previous month was 76%)  
  • Average days on market: 31 (down 16% year over year and down 9% month over month)  
  • Average detached selling price: $510,988 (up 11% year over year and up 1% month over month)  
  • Average duplex selling price: $409,428 (up 18% year over year and up 5% month over month)  
  • Average condo selling price: $237,249 (up 4% year over year and down 3% month over month)  
  • Average residential selling price: $417,465 (up 7% year over year and up 1% month over month)   

Comments from RAE Chair Paul Gravelle: “The real estate market continues to see modest increases for average prices for single-family homes. As we enter into the warmer months of spring, we’re still seeing a strong level in the number of residential listings and inventory available in the Greater Edmonton Area.”

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If you need to sell or buy a home, an experienced FairSquare Group Realty agent can help you navigate the market safely and with professional insight. FairSquare Group Realty supports Canadians by providing exceptional real estate experiences with incredible rewards: sellers save thousands in commission and buyers receive $2,000 cash back* when they purchase a home with one of our REALTORS®. Call 1-877-888-3131 to learn more. 

Map of Manitoba showing where FairSquare operates

Manitoba

The 1,461 sales in April did not keep pace with the frenzy of sales activity last year in Winnipeg, dropping 29% year over year but increasing slightly by 2% month over month. Still, this was the second-best April on record. Despite a boost in inventory in April, it had marginal impacts on the sales-to-new-listings (STNL) ratio, decreasing to 77% from 78% the previous month. This indicates that a seller’s market continues in the region.  

There were 1,892 homes put on the market in April, which is a 2% month-over-month increase after the substantial boost to new listings in March but represented a decrease of 19% year over year. Active listings increased 16% month over month which is great news for buyers; however, similar to new listings, represented a 19% decrease compared to April 2021.

Double-digit average year-over-year price increases remained for all product types, with detached homes and attached homes seeing the largest gains at 17% each, with condominiums close  behind at 12%. Month-over-month  price gains were smaller, with attached homes seeing the largest gains, up 6% month over month.

The market in Winnipeg continues to be run by larger investments, with the largest percentage of transactions taking place in the $500K-$749K (27%) price range. The $350K-$399K and $400K-$449K ranges each represented 13% of total sales, while the $300K-$349K price range took 11% of the market share.  

Winnipeg

 The Winnipeg Regional Real Estate Board (WRREB) reports22 23 24

  • Market:Seller's Market    
  • Sales: 1,461 (down 29% year over year and up 2% month over month)  
  • New listings: 1,892 (down 19% year over year and up 2% month over month)  
  • Active listings: 2,112 (down 19% year over year and up 16% month over month)  
  • Sales-to-new-listings ratio: 77% (previous month was 78%)  
  • Average detached selling price: $447,421 (up 17% year over year and up 2% month over month)  
  • Average townhouse selling price: $371,463 (up 17% year over year and up 6% month over month)  
  • Average condo selling price: $261,802 (up 12% year over year and at par month over month)     

Comments from WRREB President Akash Bedi: “The price acceleration for a number of property types is continuing in 2022. It has to do with the supply/demand imbalance where listings are deficient in meeting the brisk demand.”

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FairSquare Group Realty supports Canadians by providing real estate experiences with incredible rewards: sellers save thousands in commission and buyers receive   when they purchase a home with one of our REALTORS®. Call 1-855-953-9533 to learn more. 

†The Canadian Real Estate Association calculates benchmark prices using the MLS® Home Price Index (HPI), which uses data from a region to define a “typical” home. Benchmark prices can reflect the changes to a region’s property value far more accurately than average or median prices. *Statistics presented herein are rounded to the nearest whole number for readability. Exact statistics can be found using the references provided.

On December 1, 2021, Purplebricks rebranded to FairSquare Group Realty. Blog articles published before this date were created under the Purplebricks brand but remain the property of FairSquare Group Realty.

In January 2019, ComFree Commonsense Network Brokerage rebranded to Purplebricks.