Edmonton, March 4, 2019: When compared to January 2019, unit sales across all categories increased, with single family home sales increasing 23.31%, condo sales increasing 26.05% and duplex/rowhouse sales increasing 17.53%. Year over year sales are down in all major categories, with single family homes sales decreasing 2.73%, condo sales decreasing 6.62% and duplex/rowhouses sales decreasing 9.60%. Year to date sales for all residential categories were down 11.01% compared to February 2018.

Average unit prices rose from last month, but are down from February 2018. The average price of a single-family home was $430,000, which was an increase of 6.36% compared to January 2019 but down 2.73% compared to February 2018. The average price of a condo was $222,267, an increase of 1.64% from January 2019 but a decrease of 6.62% year over year.

Duplex/townhouses saw a small decrease from January 2019, with the average price falling 0.24% to $321,288 and a 9.60% drop relative to February 2018.

“February tends to see the start of an increase in unit sales in the real estate market following the sluggish winter months, and this year is no different,” says REALTORS® Association of Edmonton Chair Michael Brodrick. “Inventory remains high and compared to last year the market is still lagging, but we are hopeful the traditional upward trend for spring holds true this year.”

Inventory has risen 4.89% higher compared to January 2019 and 4.31% over February 2018. However, listings continue to decrease, slipping 5.64% month over month and 8.55% year over year.

Days on market decreased for all home types compared to January 2019. Single family homes spent an average 70 days on market, condos averaged 76 days, and duplex/rowhouses averaged 80 days. Overall, the average days on market for all residential properties was 73, which was 11 days shorter than January 2019 and nine days longer over February 2018.

Edmonton, February 4, 2019: Total residential unit sales in the Edmonton Census Metropolitan Area (CMA) real estate market decreased 15.00% relative to January 2018. Single family home sales decreased 14.34%, condominiums decreased 18.56% and duplex/rowhouse sales decreased 1.02%. When compared to the previous month, residential unit sales increased, as is typical for this time of year. Single family home sales increased 1.51%, condominiums sales increased 22.16% and duplex/rowhouse sales increased 32.88%. Overall, residential unit sales increased 9.75% compared to December 2018.

Average prices declined in January. The average selling price of a single family home was $404,275, a decrease of 6.04% compared to January 2018 and a decrease of 5.52% compared to December 2018. Condominium average prices decreased 4.90% year over year and increased 6.18% month over month. Duplex/rowhouse average prices decreased 7.51% relative to January 2018 and decreased 6.85% relative to December 2018.

“The real estate market is still experiencing the consequences of high inventory and slow sales,” says REALTORS® Association of Edmonton Chair Michael Brodrick. “Buyers are benefiting from more choice but may be struggling with the mortgage qualification rules, while sellers will need to continue to be patient and flexible in this market.”

Listings for January were almost identical to January 2018, increasing by 0.08%. Inventory remained higher than average, with an increase of 6.10% relative to December 2018 and an increase of 9.31% compared to January 2018.

Average days on market are reflective of a sluggish winter market, with the residential average increasing to 84, up from 72 days in December 2018. Single family homes sold on average in 79 days, an increase of 10 days from December 2018. Condominiums increased to 93 days on market and duplex/rowhouses increased to 90, both categories up from 78 average days on market in the previous month. 

Edmonton, January 3, 2019: The Edmonton Census Metropolitan Area (CMA) real estate market marked a year of stable average and median prices, decreasing sales, and increasing inventory.

Year-to-date average prices remained relatively stable throughout 2018. The residential average sale price was $369,607, a decrease of 1.28% compared to 2017. In the specific categories, average single family home prices decreased 0.85% to $434,028, condominium average prices decreased 4.9% to $236,008 and duplex/rowhouse average prices decreased 1.75% to $342,150.

Residential year-to-date unit sales were down 5.57%, to a total of 15,519 residential units sold, compared to 16,435 in 2017. Single family homes were down 4.36%, condominium unit sales were down 7.73% and duplex/rowhouse unit sales decreased 8.63%. Sales volume in 2018 was also down 6.78% to $5.73 billion compared to $6.15 billion in 2017.

“The real estate market in 2018 experienced record-high inventory levels, rising interest rates and the effect of the mortgage stress test, resulting in lower sales in all property categories,” says REALTORS® Association of Edmonton Chair Michael Brodrick. “It was a challenging market for both buyers and sellers and it appears 2019 will be similar.”

Listings for December 2018 decreased 43.09% compared to November 2018, and decreased 3.85% compared to December 2017. End of month inventory decreased 9.69% month over month and increased 10.83% year over year.

Year-to-date days on market for residential units was 62, up 3 days from the average of 59 days on market in 2017. Year-to-date listings were also up, increasing 3.53% over 2017. The reported annual sales to listing ratio was 47%, indicating a buyers’ market.

In the month of December, sales decreased both month over month and year over year. In total, the average residential unit sales decreased 30.13% relative to November 2018, and decreased 19.65% compared to December 2017. Average prices were mostly stable, decreasing 0.02% to $360,450 month over month and increasing 1.03% year over year.

Edmonton, December 4, 2018: In the Edmonton Census Metropolitan Area (CMA), the all residential unit sales decreased 9.78% month over month and decreased 10.56% year over year. Single family home unit sales are down 9.22% compared to October 2018 and down 5.66% relative to November 2017. Condominium unit sales decreased 15.86% month over month and 19.5% year over year. Month over month duplex/rowhouse unit sales increased 14.14%, and decreased 6.61% year over year. Month over month declines are typical in late Fall.

New listings and active inventory are down compared to October 2018. Listings decreased 15.38% and inventory decreased 2.00% month over month. When compared to November 2017, both categories were up. New listings increased 9.97% and inventory increased 9.86% year over year.

“Compared to 2017, listings and inventory are increasing, which means there is plenty for buyers to choose from this year,” says REALTORS® Association of Edmonton Chair Darcy Torhjelm. “As we close out the year, average prices are decreasing slightly, likely due to the slower winter sales season and higher inventory levels, so sellers will need to be patient and flexible when it comes time to negotiate.”

Average prices declined in the month of November. The average selling price of a single family home is $421,715, a decrease of 0.97% month over month and a decrease of 4.55% year over year. Condominium average prices also decreased 1.29% month over month and 6.07% year over year. Duplex/rowhouses average prices increased 4.11% compared to October 2018, and decreased 3.36% relative to November 2017.

The average days on market for single family homes increased to 66 days, increasing by four days compared to October 2018 and seven days compared to November 2017. Condominiums sold on average in 80 days, eight days longer compared to October 2018 and four days longer relative to November 2017. Average days on market for duplex/rowhouses increased to 71, growing from 66 in October 2018 and 59 days in November 2017.

Edmonton, November 2, 2018: In the Edmonton Census Metropolitan Area (CMA), the all residential unit sales month over month decreased 5.71% and decreased 13.61% year over year. Single family home sales are down 9.71% compared to September 2018, and down 14.86% compared to October 2017. Duplex/rowhouses decreased 20.16% month over month and 30.77% year over year. Month over month unit sales of condominiums increased 8.80% and decreased 4.92% relative to October 2017.

Average prices also declined in October. The all residential average price was $358,954, a month over month decrease of 4.01% and year over year decrease of 3.08%. The average price of a single family home was $425,864, a decrease of 1.36% compared to September 2018 and decrease of 1.30% compared to October 2017. Duplex/rowhouses decreased 3.45% month over month and 2.21% year over year, to an average price of $333,215. Condominiums also decreased to an average price of $221,293, down 8.16% compared to September 2018 and down 8.80% compared to October 2017.

“Some of the market decreases are a result of slower sales coupled with higher inventory and listings, as well, it is also common for both prices and sales to begin to decrease at this time of year due to seasonal market fluctuations.”” says REALTORS® Association of Edmonton Chair Darcy Torhjelm. “As we move towards the end of the year, we will likely see average days on market grow with inventory remaining higher.”

New listings and overall inventory are down compared to September 2018. Listings decreased 3.22% and inventory decreased 2.68% month over month. When compared to October 2017, both categories were up. New listings increased 4.05% and inventory increased 8.50% year over year.

The average days on market for single family homes increased to 62 days, increasing by one day compared to September 2018 and seven days compared to October 2017. Average days on market for duplex/rowhouses was unchanged month over month, and five days longer year over year. Condominiums sold on average in 72 days, three days shorter compared to September 2018 and five days longer relative to October 2017.

Edmonton, October 3, 2018: In the Edmonton Census Metropolitan Area (CMA), the all residential average prices increased 2.48% to $373,958 compared to August 2018 and increased 0.94% compared to September 2017. Single family home average prices increased 1.71% month over month and increased 0.25% year over year. Duplex/rowhouse average prices also increased in both categories, up 4.38% compared to August 2018 and up 0.68% compared to September 2017. Condominium average prices decreased 1.53% month over month and decreased 4.28% year over year.

Unit sales are down across all categories. Single family home sales decreased 19.41% relative to August 2018 and 2.22% relative to September 2017. Condominium sales decreased 28.82% month over month and decreased 19.09% year over year. Duplex/rowhouse sales also declined, decreasing 21.02% compared to August 2018 and 21.52% compared to September 2017. Overall, all residential unit sales showed a decrease of 21.83% month over month and 8.53% decrease year over year.

Average days on market increased for all categories. The average for single family homes increased to 61 days for September 2018, two days longer than August 2018 and eight days longer than September 2017. Condominiums average days on market increased to 75 in September 2018, two days longer than August 2018 and seven days longer compared to September 2017. For duplex/rowhouses, the average days on market was 66, increasing from 63 in August 2018 and 61 days in September 2017.

“Stable prices coupled with decreasing sales and increasing days on market indicates sellers are most likely staying firm on their prices and choosing to wait longer to get the price they feel is best for their properties,” says REALTORS® Association of Edmonton Chair Darcy Torhjelm. “As we move further into our final quarter, we will likely continue to see sales decreasing as is typical for this time of year.”

Both inventory and listings decreased in September, with inventory down 1.53% and listings down 17.41% compared to August 2018. Listings also decreased 8.53% compared to September 2017, while inventory increased year over year by 7.35%.

In total, there were 1,225 MLS® System listed properties sold in September 2018, a decrease of 21.83% month over month and an decrease of 8.24% year over year.

Edmonton, August 2, 2018: In the Edmonton Census Metropolitan Area (CMA), the average all residential selling price decreased 2.07% to $370,046 compared to June 2018 and decreased 3.63% compared to July 2017. Single family home average prices decreased 1.44% to $436,825 month over month and decreased 2.25% year over year. Duplex/rowhouse average prices decreased 0.71% month over month and decreased 0.48% year over year. Condominium average prices increased 3.35% compared to June 2018 and decreased 6.22% compared to July 2017.

Compared to June 2018, single family home sales decreased 9.01% and compared to July 2017, decreased 3.29%. Duplex/rowhouses increased 4.17% compared to June 2017 and decreased 3.31% relative to July 2017. Condominium sales increased 2.65% month over month and 3.40% year over year.

“The overall real estate market is softening as the summer selling season begins to slow,” says REALTORS® Association of Edmonton Chair Darcy Torhjelm. “Average prices are decreasing and that may continue in the rest of the year due to the high inventory levels. It is important for sellers to be prepared to negotiate more and expect to be a bit more flexible with their property prices.”

Inventory increased slightly in July, up 0.52% compared to July 2018 and up 12.62% compared to June 2017. New listings decreased 13.02% month over month and increased 4.04% year over year. In total, there were 1,603 MLS® System listed properties sold in July 2018, a decrease of 4.47% month over month and a decrease of 0.99% year over year.

Average days on market increased for most categories, indicating more of a buyers’ market for the Edmonton CMA. The average for single family homes increased to 52 days for July 2018, two days longer than June 2018 and four days longer than July 2017. For duplex/rowhouses, the average days on market was 61, increasing from 57 in June 2018 and 55 in July 2017. Condominiums required one less day in July 2018, decreasing to 66 days on market from 67 in June 2018 and 60 days in July 2017.

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.”

Edmonton, May 2, 2018: In the Edmonton Census Metropolitan Area (CMA) in April 2018, month over month unit sales increased in most categories. Compared to March 2018, single family home sales increased 22.76%, condominium sales increased 12.09% and duplex/rowhouse sales increased 20.71%. When comparing year over year unit sales, single family home sales increased 7.65%, condominium sales decreased 3.06% and duplex/rowhouse sales increased 15.75%. Year over year sales for all residential properties increased 5.78%.

Inventory also increased, up 13.58% month over month and 14.85% year over year. Total new listings in April was 3,470, up 0.32% relative to March 2018 and up 10.97% compared to April 2017. In total, there were 1,555 MLS® System listed properties sold, which is an increase of 20.17% compared to March 2018 and an increase of 5.78% in April 2017.

“We are in the busiest season for real estate in Edmonton, so sales is consistent with seasonal market trends,” says Darcy Torhjelm, REALTORS® Association of Edmonton Chair.

The all residential average price was $369,258, down 1.34% compared to March 2018 and down 2.48% relative to April 2017. The average price of a single family home was $429,116, a decrease of 3.37% month over month and a decrease of 2.39% year over year. Condominium average prices increased 5.63% compared to March 2018 and decreased 4.51% relative to April 2017. Duplex/rowhouse average prices decreased 7.33% month over month and decreased 9.48% year over year.

Average days on market for all residential properties decreased to 57 days, one day shorter than in March 2018 but two days longer compared to April 2017. For single family homes, the average days on market was 52, up from 51 in March 2018 and up from 48 in April 2017. Condominium average days on market was 66, down from 72 the previous month, and up from 60 in April 2017. For duplex/rowhouses, the average days on market was 59, up from 57 in March 2018 and down from 64 in April 2017.

“More sellers are entering the market and are motivated to move their properties before the summer months, which provides the best selection of properties for buyers who are actively looking and taking advantage of the increased number of listings,” says Torhjelm. “It’s a great time to speak to a REALTOR® for professional advice on navigating the buying and selling process.”