Total residential unit sales in the Edmonton Census Metropolitan Area (CMA) real estate market for January 2020 increased 0.50% compared to January 2019 and decreased 5.44% from December 2019. The number of new residential listings is down, decreasing 11.58% from January 2019. Overall inventory in the Edmonton CMA fell 11.76% from January of last year.
For the month of January, single family home unit sales are up 2.52%, and condo unit sales decreased 5.94% from the same period of time last year.
All residential average prices are up slightly at $351,002 a 3.85% increase from January 2019, and are down 0.75% from December 2019. Single family homes sold for an average of $413,954, a 2.52% year-over-year increase from January 2019, and a 0.64% increase from December 2019. Condominiums sold for an average of $204,355, a 5.94% decrease year-over-year, and prices are down 9.95% compared to December 2019. Duplex prices rose 5.21% from January 2019, selling at $338,815, which was a 4.23% increase from the previous month.
“The Edmonton market prices remained stable this month while we saw an decrease in year-overyear residential listings and sales,” says REALTORS® Association of Edmonton Chair Jennifer Lucas. “There have been slightly more sales than in January of last year, and single family home pricing increased 2.52%, duplexes are up 5.21%, and condos are down 5.94% year-over-year.”
Single family homes averaged 73 days on the market, a five-day decrease from last year. Condos saw a ten-day decrease at 83 days on the market while duplexes averaged 85 days on market, a five-day decrease from January 2019. Overall, all residential listings averaged 79 days on market, a 5.95% decrease year-over-year, and increased by ten days compared to the previous month.
Review these statistics and more at www.ereb.com.
Highlights of MLS® System activity (for all-residential sales in Edmonton CMA1)
|January 2020||M/M % Change||Y/Y % Change|
|SFD2 average(3) selling price – month||$413,954||0.64%||2.52%|
|SFD median(4) selling price – month||$384,000||3.32%||-2.27%|
|Condominium average selling price||$204,355||-9.95%||-5.94%|
|Condominium median selling price||$188,750||-8.82%||-8.35%|
|All-residential(5) average selling price||$351,002||-0.75%||3.85%|
|All-residential median selling price||$335,000||1.82%||0.60%|
|# residential listings this month||2,229||71.59%||-11.58%|
|# residential sales this month (reported)||799||-5.44%||0.50%|
|# residential inventory at month end||6,252||4.64%||-11.76%|
|# Total(6) MLS® System sales this month||974||-0.92%||-1.02%|
|$ Total value MLS® System residential sales - month||$290,615,719||-4.91%||1.54%|
|$ Total value MLS® System sales – month||$345,887,871||-1.24%||6.39%|
|$ Total value MLS® System sales – YTD||$345,887,871||-95.20%||6.39%|
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.
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