Total residential unit sales in the Edmonton Census Metropolitan Area (CMA) real estate market for the month of October 2019 increased 8.10% compared to October 2018 and decreased 3.82% from September 2019. The number of new residential listings is down, dropping 5.92% from October 2018. Overall inventory in the Edmonton CMA fell 9.26% from October of last year.
Single family home unit sales are up 3.85% and condo unit sales increased 5.30% from the same period of time last year.
All residential average prices are down slightly at $353,546, a 2.44% decrease from October 2018, and are virtually unchanged from September 2019. Single family homes sold for an average of $420,939, a 1.73% year-over-year decrease from October 2018, and they are virtually unchanged at a 0.13% decrease from September 2019. Condominiums sold for an average of $227,802, a 2.96% increase year-over-year, and a 4.66% increase from the previous month. Duplex prices dropped 1.43% from October of last year, selling at $328,975, which was a 4.15% decrease from the previous month.
“The Edmonton market has seen little change with a slight increase in year-over-year residential sales,” says REALTORS® Association of Edmonton Chair Michael Brodrick. “Single family home pricing dropped 1.73%, duplexes are down 1.43%, and condos are up 2.96% year-over-year.”
Single family homes averaged 60 days on the market, a two-day decrease from last year. Condos spent six days more on the market, from 70 to 76 days, while duplexes averaged 63 days on market, a three day decrease from October 2018. Overall, all residential listings averaged 65 days on market, a 1.52% decrease year-over-year, and increased by two days 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)
|October 2019||M/M % Change||Y/Y % Change|
|SFD2 average(3) selling price – month||$420,939||0.13%||-1.73%|
|SFD median(4) selling price – month||$381,700||-0.05%||-1.75%|
|Condominium average selling price||$227,802||4.66%||2.96%|
|Condominium median selling price||$210,000||5.00%||2.44%|
|All-residential(5) average selling price||$353,546||0.57%||-2.44%|
|All-residential median selling price||$330,000||0.61%||-2.94%|
|# residential listings this month||2,399||-12.45%||-5.92%|
|# residential sales this month (reported)||1,334||-3.82%||8.10%|
|# residential inventory at month end||7,926||-6.91%||-9.26%|
|# Total(6) MLS® System sales this month||1,628||-5.68%||5.99%|
|$ Total value MLS® System residential sales – month||$492,298,983||-3.62%||5.60%|
|$ Total value MLS® System sales – month||$575,706,435||-5.33%||3.90%|
|$ Total value MLS® System sales – YTD||$6,392,071,113||9.79%||-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.
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