Total residential unit sales in the Edmonton Census Metropolitan Area (CMA) real estate market for February 2020 increased 8.30% compared to February 2019 and increased 32.29% from January 2020. The number of new residential listings is up, increasing 4.21% from February 2019 and increasing 12.20% from January 2020. Overall inventory in the Edmonton CMA fell 7.86% from February of last year but increased 9.56% from January 2020.
For the month of February, single family home unit sales are up 11.11% from February 2019 and up 29.82% from January 2020. Condo unit sales increased 5.97% from February 2019 and increased 52.69% from January 2020.
All residential average prices are down slightly at $350,852 a 0.88% decrease from February 2019, and are down 0.04% from January 2020. Single family homes sold for an average of $426,191, a 0.57% year-over-year decrease from February 2019, and a 2.96% increase from January 2020. Condominiums sold for an average of $212,520, a 4.37% decrease year-over-year, and prices are up 4.00% compared to January 2020. Duplex prices rose 0.19% from February 2019, selling at $321,892, which was a 4.99% decrease from January 2020.
“The Edmonton market prices remained stable this month and we saw an increase in year-over-year unit sales,” says REALTORS® Association of Edmonton Chair Jennifer Lucas. “We typically see an increase in activity at this time of year as we head into spring. There have been more sales of single family homes and condos than in February of last year while duplexes are down. Single family home pricing decreased 0.57%, duplexes are up 0.19%, and condos are down 4.37% year-over-year.”
Single family homes averaged 71 days on the market, a one-day increase from last year. Condos saw a two-day decrease at 74 days on the market while duplexes averaged 80 days on market, identical to February 2019. Overall, all residential listings averaged 74 days on market, a 1.37% increase year-over-year, and decreased by five days compared to the previous month.
Review these statistics and more at www.ereb.com.
Highlights of MLS® System activity (for all-residential sales in Edmonton CMA1)
|February 2020||M/M % Change||Y/Y % Change|
|SFD2 average(3) selling price – month||$426,191||2.96%||-0.57%|
|SFD median(4) selling price – month||$378,000||-1.56%||-3.66%|
|Condominium average selling price||$212,520||4.00%||-4.37%|
|Condominium median selling price||$200,000||5.96%||-7.08%|
|All-residential(5) average selling price||$350,852||-0.04%||-0.88%|
|All-residential median selling price||$326,100||-2.66%||-2.66%|
|# residential listings this month||2,501||12.20%||4.21%|
|# residential sales this month (reported)||1,057||32.29%||8.30%|
|# residential inventory at month end||6,850||9.56%||-7.86%|
|# Total(6) MLS® System sales this month||1,295||32.96%||11.54%|
|$ Total value MLS® System residential sales – month||$385,757,480||32.74%||7.43%|
|$ Total value MLS® System sales – month||$449,817,097||30.05%||10.36%|
|$ Total value MLS® System sales – YTD||$794,755,568||129.77%||8.47%|
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.
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