Total residential unit sales in the Edmonton Census Metropolitan Area (CMA) real estate market for the month of July 2019 rose 11.49% compared to July 2018. While sales rose, the number of new residential listings dropped 10.01% from July 2018, and overall inventory in the Edmonton CMA dropped 13.58% from July of last year.
Single family home unit sales increased 17.79%, while condo unit sales dropped 0.89%, and unit sales of duplexes increased 4.42% from the same period of time last year.
All residential average prices decreased to $366,344, a drop of 1.70% from July 2018, and are virtually unchanged from June 2019. Single family homes sold for an average of $429,717, a 1.91% year-over-year drop from July 2018, but a 1.37% increase from June 2019. Condominiums sold for an average of $222,911, a 10.3% drop year-over-year, and a decrease of 6.59% from the previous month. Duplexes dropped 2.80% from last year to $333,317, which was a 1.63% decrease from the previous month.
“Edmonton real estate unit sales in July are up year over year,” says REALTORS® Association of Edmonton Chair Michael Brodrick. “Prices remain relatively flat; however, the average price of condominiums is down over 10% year over year.”
Single family homes averaged 57 days on the market, a five day increase from last year. Condos spent five days longer on the market, from 65 to 70 days, while duplexes averaged 66 days on market, a five day increase from July 2018. Overall, all residential listings averaged 62 days on market, a 8.77% increase year-over-year, and a 5.08% increase from June 2019.
Review these statistics and more at www.ereb.com.
Highlights of MLS® System activity (for all-residential sales in Edmonton CMA1)
|July 2019||M/M % Change||Y/Y % Change|
|SFD2 average(3) selling price – month||$429,717||1.37%||1.91%|
|SFD median(4) selling price – month||$399,000||2.31%||-0.25%|
|Condominium average selling price||$222,911||-6.59%||-10.30%|
|Condominium median selling price||$366,334||-4.55%||-7.89%|
|All-residential(5) average selling price||$3,011||0.11%||-1.70%|
|All-residential median selling price||$1,921||0.00%||-0.71%|
|# residential listings this month||3,011||-3.34%||-10.01%|
|# residential sales this month (reported)||1,921||6.07%||11.49%|
|# residential inventory at month end||9,093||-3.55%||-13.58%|
|# Total(6) MLS® System sales this month||2,323||5.02%||9.27%|
|$ Total value MLS® System residential sales – month||$735,647,680||6.50%||9.54%|
|$ Total value MLS® System sales – month||$840,646,360||5.10%||6.37%|
|$ Total value MLS® System sales – YTD||$4,465,517,547||23.10%||-4.14%|
1 Census Metropolitan Area (Edmonton and surrounding municipalities)
2 Single Family Dwelling
3 The total value of sales in a category divided by the number of properties sold
4 The middle figure in a list of all sales prices
5 Residential includes SFD, condos and duplex/row houses.
6 Includes residential, rural and commercial sales
Average prices indicate market trends only. They do not reflect actual changes for a particular property, which may vary from house to house and area to area. Prior period sales figures have been adjusted to include late reported sales and cancellations and therefore reflect a more accurate view of the period than previously reported at month end. The RAE trading area includes communities beyond the CMA (Census Metropolitan Area) and therefore average and median prices may include sold properties outside the CMA. For information on a specific area, contact your local REALTOR®.
The REALTORS® Association of Edmonton (Edmonton Real Estate Board), founded in 1927, is a professional association of real estate
Brokers and Associates in the greater Edmonton area. The Association administers the Multiple Listing Service®, provides professional education to its members and enforces a strict Code of Ethics and Standards of Business Practice. The Association also advertises property listings and publishes consumer information on the Internet at www.REALTOR.ca and www.ereb.com, as well as in the Real Estate Weekly and on their web site at www.rewedmonton.ca. REALTORS® support charities involving shelter and the homeless through the REALTORS® Community Foundation.
Trademarks are owned or controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA (REALTOR®) and/or the quality of services they provide (MLS®).