Edmonton, July 3, 2019: Total residential unit sales in the Edmonton Census Metropolitan Area (CMA) real estate market for the month of June 2019 rose 0.56% compared to June 2018. While sales were reasonably similar, the number of new residential listings dropped 18.03% from June 2018, and overall inventory in the Edmonton CMA dropped 11.68% from June of last year.
Single family home unit sales increased 1.46%, while condo unit sales dropped 4.34%, and unit sales of duplexes were unchanged from the same period of time last year.
Average prices decreased to $365,949, a drop of 3.71% from June 2018, and 0.70% from May 2019. Single family homes sold for an average of $423,894, a 4.45% year-over-year drop from June 2018, and a 1.76% decrease from May 2019. Condominiums sold for an average of $238,648, a 0.99% drop year-over-year, but an increase of 0.36% from the previous month. Duplexes dropped 1.61% from last year to $338,838, which was a 1.24% increase from the previous month.
“The real estate industry has seen a reduction in the number of listings in June,” says REALTORS® Association of Edmonton Chair Michael Brodrick. “Prices, however, remain relatively flat across all categories of homes.”
Single family homes averaged 53 days on the market, a four day increase from last year. Condos spent slightly less time on the market, from 67 to 66 days, while duplexes averaged 67 days on market, an 11 day increase from June 2018. Overall, all residential listings averaged 59 days on market, a 7.27% increase year-over-year, but a 1.67% decrease from May 2019.