Residential sales, new listings and year-to-date inventory have all experienced a month-over-month increase from April 2019. Total residential sales are up 17.64% from last month, and sales have also seen a year-over-year increase of 4.04% from May 2018. Sales of single-family homes have increased month over month by 16.37% and 2.64% year over year. Condo sales have increased by 15.69% since last month but have decreased by 0.42% since May of 2018. Duplex/rowhouse sales have increased by 16.22% month to month and 14.36% year over year. All residential listings have increased 7.22% from last month but have decreased by 12.17% from May of 2018.
“Month over month increases are typical at this time of year, when more people are looking to sell and buy homes,” says REALTORS® Association of Edmonton Chair Michael Brodrick. “This year is no different, but we’ve experienced an increase in overall residential sales from May of last year.”
The average price of all residential homes has seen a month-over-month increase but has decreased since May of 2018. Since April, the average price of a single-family home rose from $427,657 to $431,484 (an increase of 0.89%). The average price of condo units rose from $228,933 to $237,802 (an increase of 3.87%), and the average unit price of duplex/rowhouses rose from $330,795 to $334,704 (an increase of 1.18%). The average sales price of all residential listings rose from $365,129 to $368,514 (an increase of 0.93%) since April, but that price has decreased by 2.99% (from $379,864 to $368,514) since May of 2018.
Average days on market for all residential listings remains unchanged from last month at 60 days; however, that number has risen from 52 days in May of 2018. The average days on market for single-family homes has decreased from 55 to 53 days since last month but has experienced a year-over-year increase from 45 days in May of 2018. Month over month, the average number of days on market for condo units has decreased from 71 to 69 days, but that number has increased from 65 days in May of last year. Days on market for duplex/rowhouse units increased month over month from 67 to 69 days and year over year from 57 days in May of 2018.
Review these statistics and more at www.ereb.com.
Highlights of MLS® System activity (for all-residential sales in Edmonton CMA1)
|May 2019||M/M % Change||Y/Y % Change|
|SFD2 average(3) selling price – month||$431,484||0.89%||-2.62%|
|SFD median(4) selling price – month||$397,250||0.70%||-1.97%|
|Condominium average selling price||$237,802||3.87%||-3.00%|
|Condominium median selling price||$224,125||4.98%||-0.39%|
|All-residential(5) average selling price||$368,514||0.93%||-2.99%|
|All-residential median selling price||$349,900||-0.03%||-2.81%|
|# residential listings this month||3,788||7.22%||-12.17%|
|# residential sales this month (reported)||1,981||17.64%||4.04%|
|# residential inventory at month end||9,541||6.06%||-7.28%|
|# Total(6) MLS® System sales this month||2,400||18.75%||5.26%|
|$ Total value MLS® System residential sales - month||$766,010,538||18.88%||1.08%|
|$ Total value MLS® System sales – month||$873,189,345||18.92%||1.00%|
|$ Total value MLS® System sales – YTD||$2,857,139,547||43.82%||-7.20%|
1 Census Metropolitan Area (Edmonton and surrounding municipalities)
2 Single Family Dwelling
3 The total value of sales in a category divided by the number of properties sold
4 The middle figure in a list of all sales prices
5 Residential includes SFD, condos and duplex/row houses.
6 Includes residential, rural and commercial sales
Average prices indicate market trends only. They do not reflect actual changes for a particular property, which may vary from house to house and area to area. Prior period sales figures have been adjusted to include late reported sales and cancellations and therefore reflect a more accurate view of the period than previously reported at month end. The RAE trading area includes communities beyond the CMA (Census Metropolitan Area) and therefore average and median prices may include sold properties outside the CMA. For information on a specific area, contact your local REALTOR®.
The REALTORS® Association of Edmonton (Edmonton Real Estate Board), founded in 1927, is a professional association of real estate
Brokers and Associates in the greater Edmonton area. The Association administers the Multiple Listing Service®, provides professional education to its members and enforces a strict Code of Ethics and Standards of Business Practice. The Association also advertises property listings and publishes consumer information on the Internet at www.REALTOR.ca and www.ereb.com, as well as in the Real Estate Weekly and on their web site at www.rewedmonton.ca. REALTORS® support charities involving shelter and the homeless through the REALTORS® Community Foundation.
Trademarks are owned or controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA (REALTOR®) and/or the quality of services they provide (MLS®).