Total residential unit sales in the Edmonton Census Metropolitan Area (CMA) real estate market for July 2020 increased 13.58% compared to July 2019 and increased 5.61% from June 2020. The number of new residential listings is up year over year, increasing 7.56% from July 2019. New residential listings are down month over month, decreasing 9.84% from June 2020. Overall inventory in the Edmonton CMA fell 15.52% from July of last year and decreased 3.58% from June 2020.
For the month of July, single family home unit sales are up 9.53% from July 2019 and up 3.91% from June 2020. Condo unit sales increased 11.01% from July 2019 and increased 6.70% from June 2020.
All residential average prices are up to $369,805, a 0.68% increase from July 2019, and up 2.67% from June 2020. Single family homes sold for an average of $436,142, a 1.39% year-over-year increase from July 2019, and a 3.06% increase from June 2020. Condominiums sold for an average of $225,138, a 0.97% increase year-over-year, and prices are up 2.41% compared to June 2020. Duplex prices dropped 0.41% from July 2019, selling at $331,963, which was a 0.79% increase from June 2020.
“The Edmonton market prices have a slight increase in year-over-year unit sales, as well as month to month sales increase,” says REALTORS® Association of Edmonton Chair Jennifer Lucas. “There have also been more sales of single-family homes, condos and duplexes compared to July of last year. Single family home pricing increased 3.06%, duplexes are down 0.41%, and condos are up 0.97% year-over-year.”
Single family homes averaged 49 days on the market, an eight-day decrease from last year. Condos decreased to an average of 63 days on the market while duplexes averaged 55 days on market, a eleven-day decrease compared to July 2019. Overall, all residential listings averaged 54 days on market, decreased year-over-year, and decreased by five-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)
|July 2020||M/M % Change||Y/Y % Change|
|SFD2 average(3) selling price – month||$436,142||3.06%||1.39%|
|SFD median(4) selling price – month||$400,500||2.04%||0.26%|
|Condominium average selling price||$225,138||2.41%||0.97%|
|Condominium median selling price||$205,000||-0.97%||-2.38%|
|All-residential(5) average selling price||$369,805||2.67%||0.68%|
|All-residential median selling price||$350,000||0.29%||-0.28%|
|# residential listings this month||3,216||-8.66%||7.56%|
|# residential sales this month (reported)||2,166||5.61%||13.58%|
|# residential inventory at month end||7,711||-3.58%||-15.52%|
|# Total(6) MLS® System sales this month||2,714||3.55%||17.13%|
|$ Total value MLS® System residential sales - month||$837,339,988||6.84%||14.35%|
|$ Total value MLS® System sales – month||$1,005,104,459||9.68%||19.79%|
|$ Total value MLS® System sales – YTD||$4,131,389,435||32.08%||-8.10%|
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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