August 2022 in Real Estate Numbers

As expected the real estate numbers for August 2022 paint a dull picture for home sellers.

In comparison to last month there were 33.34% few detached homes sold. This seems to be a big number, but in actual units it is not so bad. In July of 2022 -  6 detached homes sold and in August 2022 only 4 homes. The median price of detached homes went down by 7.77%, of semis by 7.17% and of condos by 19.48%.

Right now it takes longer to sell homes. The months of inventory for detached homes is 0.75%, which means if no other homes would come to the market all detached homes for sale would be sold under one month. The month of inventory for semis climbed from one month to 2 months and the months of inventory for condos went down from 5 month to 4 month.

But let's compare the number of August 2022 to August 2021.

As you remember last year was a very active year, prices were rising fast. In the beginning 2022 prices reached an all time high.

August 2021 - 3 times as many detached homes sold in comparison to August 2022. The median price of a detached home decreased by 3.69% and of a semi by 4.42%  in one year.

Think last year’s prices and you will have a good idea what you should sell or buy a home for.

The numbers quoted are of all homes in Parkwoods-Donlada. To find out the real value of your home, we would analyze homes sold that are similar to yours. Please let us know if you would like to get a free evaluation of your home. Text, email or call - we’d Love to hear from you.