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.
Review these statistics and more at www.ereb.com.
Highlights of MLS® System activity (for all-residential sales in Edmonton CMA1)
|June 2019||M/M % Change||Y/Y % Change|
|SFD2 average(3) selling price – month||$423,894||-1.76%||-4.45%|
|SFD median(4) selling price – month||$390,000||-1.83%||-4.88%|
|Condominium average selling price||$238,648||0.36%||-0.99%|
|Condominium median selling price||$220,000||-1.84%||-4.35%|
|All-residential(5) average selling price||$365,949||-0.70%||-3.71%|
|All-residential median selling price||$350,000||0.03%||-2.91%|
|# residential listings this month||3,115||-17.77%||-18.03%|
|# residential sales this month (reported)||1,811||-8.58%||0.56%|
|# residential inventory at month end||9,428||-0.92%||-11.68%|
|# Total(6) MLS® System sales this month||2,212||-7.83%||0.82%|
|$ Total value MLS® System residential sales - month||$690,762,689||-9.82%||-3.92%|
|$ Total value MLS® System sales – month||$799,845,189||-8.40%||-2.63%|
|$ Total value MLS® System sales – YTD||$3,627,425,087||26.96%||-6.22%|
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®).