Edmonton, April 3, 2019: When compared to February 2019, unit sales across all categories increased, with single family home sales increasing 27.84%, condo sales increasing 8.86% and duplex/rowhouse sales increasing 21.05%. Year over year sales are down in all major categories, with single family homes sales decreasing 12.57%, condo sales decreasing 18.06% and duplex/rowhouses sales decreasing 3.50%. Year to date sales for all residential categories were down 13.19% compared to March 2018.
Average unit prices rose last month, relative to February, but are down slightly from March 2018. The average price of a single-family home was $423,451, which was a decrease of 1.50% compared to February 2019 and down 5.02% compared to March 2018. The average price of a condo was $213,856, a decrease of 3.78% from February 2019 and a decrease of 10.42% over year.
Duplex/rowhouses saw an increase from February 2019, with the average price rising 4.09% to $334,440, but still a 4.59% drop relative to March 2018.
“Spring typically brings increased selling activity in the real estate industry. Overall residential sales were up by just over 20% from February 2019, but still down from March 2018,” says REALTORS® Association of Edmonton Chair Michael Brodrick.
Inventory has risen 11.71% compared to February 2019 but slipped 0.68% from March 2018.
Days on market decreased for two home types compared to February 2019. Single family homes spent an average 60 days on market, condos averaged 77 days, and duplex/rowhouses averaged 65 days. Overall, the average days on market for all residential properties was 66, which was seven days shorter than February 2019 but 10 days longer than March 2018.