Edmonton, November 4, 2019: 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.