Edmonton, January 3, 2020: 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.