Total residential unit sales in the Edmonton Census Metropolitan Area (CMA) real estate market for December 2019 increased 9.88% compared to December 2018’s 769 sales and decreased 23.25% from November 2019. The number of new residential listings is up, increasing 5.87% from December 2018. Overall inventory in the Edmonton CMA fell 10.83% from December of last year.
For the month of December, single family home unit sales are up 9.80%, and condo unit sales increased 3.21% from the same period of time last year.
All residential average prices are down slightly at $353,657, a 2.29% decrease from December 2018, and are down 0.05% from November 2019. Single family homes sold for an average of $411,317, a 4.08% year-over-year decrease from December 2018, and a 2.22% decrease from November 2019. Condominiums sold for an average of $226,943, a 7.93% increase year-over-year, prices are similar to the previous month, down 0.51%. Duplex prices dropped 5.73% from December 2018, selling at $325,068, which was a 0.85% increase from the previous month.
“The Edmonton market prices remained stable this month while we saw an increase in year-over-year residential listings and sales,” says REALTORS® Association of Edmonton Chair Jennifer Lucas. “There have been about 75 more sales than we had in December of last year, and single family home pricing decreased 4.08%, duplexes are down 5.73%, and condos are up 7.93% year-over-year.”
Single family homes averaged 64 days on the market, a five-day decrease from last year. Condos saw no changes at 77 days on the market while duplexes averaged 75 days on market, a one day decrease from December 2018. Overall, all residential listings averaged 69 days on market, a 4.17% decrease year-over-year, and did not change from the previous month.
Review these statistics and more at www.ereb.com.
Highlights of MLS® System activity (for all-residential sales in Edmonton CMA1)
|December 2019||M/M % Change||Y/Y % Change|
|SFD2 average(3) selling price – month||$411,317||-2.22%||-4.08%|
|SFD median(4) selling price – month||$371,650||-4.26%||-3.47%|
|Condominium average selling price||$226,943||-0.51%||7.93%|
|Condominium median selling price||$207,000||-0.24%||-1.43%|
|All-residential(5) average selling price||$353,567||-0.05%||-2.29%|
|All-residential median selling price||$329,000||-1.20%||-1.86%|
|# residential listings this month||1,299||-30.16%||5.87%|
|# residential sales this month (reported)||845||-23.25%||9.88%|
|# residential inventory at month end||5,975||-24.59%||-10.83%|
|# Total(6) MLS® System sales this month||983||-25.42%||6.16%|
|$ Total value MLS® System residential sales – month||$305,609,388||-24.17%||5.70%|
|$ Total value MLS® System sales – month||$350,240,053||-24.26%||-1.27%|
|$ Total value MLS® System sales – YTD||$7,201,637,293||5.10%||-3.48%|
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®).