Heidi Hromada

Cell: 780-982-4888 |

Sales Volumes Increase


Edmonton, June 4, 2018: In the Edmonton Census Metropolitan Area (CMA) in May 2018, month over month unit sales increased in all property categories. Compared to April 2018, single family home sales increased 15.45%, condominium sales increased 18.42% and duplex/rowhouse sales increased 3.55%. Year over year unit sales for single family homes decreased 3.86%, condominium sales increased 1.12% and duplex/rowhouse sales decreased 12.06%. In total, there were 1,776 MLS® System listed properties sold in May 2018, which is an increase of 14.21% compared to April 2018 and a decrease of 3.64% compared to May 2017.


The all residential average selling price was $377,139, up 2.13% compared to April 2018 and down 0.54% relative to May 2017. The average price of a single family home was $442,348, an increase of 3.08% month over month and an increase of 0.40% year over year. Condominium average prices decreased 2.36% compared to April 2018 and decreased 3.86% relative to May 2017. Duplex/rowhouse average prices increased 7.07% month over month and increased 0.77% year over year.


“Prices and unit sales in the Edmonton CMA market remain stable. This is good news for sellers who have been concerned about selling their properties before the summer months in a ‘buyer’s market’,” says REALTORS® Association of Edmonton Chair Darcy Torhjelm. “Buyers continue to have a great selection of properties to choose from, which means sellers need to be competitive with their listings.”


Inventory also increased in May, up 13.23% compared to April 2018 and up 16.03% compared to May 2017. New listings also grew, increasing 19.19% month over month and increasing 12.82% year over year.

The average days on market for all residential properties decreased to 53 days, three days shorter than in April 2018 and one day shorter than May 2017. For single family homes, the average days on market was 46, down from 52 in April 2018 and down from 48 in May 2017. Condominium average days on market were unchanged, remaining at 66 for the month of May, which is still up from 62 days in May 2017. For duplex/rowhouses, the average days on market was 59, also unchanged from the previous month, and down from 59 in May 2017.


“Buyers are eagerly waiting to see what the best selection will be when they look for a new home, which means sellers will need to price their homes in a way that will be appealing to as many buyers as possible,” says Torhjelm. “Your professional REALTOR® will be able to provide the advice both buyers and sellers need to navigate this process.”


MLS® System Activity

(for all-residential sales in Edmonton CMA1)

May 2018

M/M % Change

Y/Y % Change

SFD2 average3 selling price – month

$442,348

3.08%

0.40%

SFD median4 selling price – month

$402,500

0.88%

-2.72%

Condominium average selling price

$241,571

-2.36%

-3.86%

Condominium median selling price

$220,000

-3.19%

-3.64%

All-residential5 average selling price

$377,139

2.13%

-0.54%

All-residential median selling price

$355,000

page2image3831709536

1.43%

page2image3831677488

-1.39%

page2image3831712928 page2image3831713408

# residential listings this month

4,136

page2image3831682880

19.19%

page2image3831717952

12.82%

page2image3831686560 page2image3831687168

# residential sales this month

1,776

14.21%

-3.64%

# residential inventory at month end

page2image3831694976

9,859

page2image3831697696

13.23%

page2image3831732960 page2image3831732096

16.03%

page2image3831701200

# Total6 MLS® System sales this month

2,289

page2image3832656880

16.85%

page2image3832662944

-3.46%

page2image3832667056 page2image3832668144 page2image3832668672 page2image3832668944

$ Value Total residential sales this month

759,850,268

18.97%

-3.21%

$ Value of total MLS® System sales – month

page2image3831935840

867,201,670

page2image3831938816

19.30%

-3.42%

$ Value of total MLS® System sales - YTD

3,084,626,074

page2image3832685264

39.07%

page2image3832687232

-3.94%

page2image3832688400 page2image3832690000


1 Census Metropolitan Area (Edmonton and municipalities in the four surrounding counties)

2 Single Family Dwelling
3 Average: The total value of sales in a category divided by the number of properties sold
4 Median: The middle figure in an ordered 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. Sales are compared to the month end reports from the prior period and do not reflect late reported sales.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®.




Copyright 2018 by the REALTORS® Association of Edmonton. All Rights Reserved.
Data is deemed reliable but is not guaranteed accurate by the REALTORS® Association of Edmonton.