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.”
Review these statistics and more at www.ereb.com.
Highlights of MLS® System activity (for all-residential sales in Edmonton CMA1)
|April 2018||M/M % Change||Y/Y % Change|
|SFD2 average(3) selling price – month||$429,116||-3.37%||-2.39%|
|SFD median(4) selling price – month||$399,000||1.27%||-0.25%|
|Condominium average selling price||$247,405||5.63%||-4.51%|
|Condominium median selling price||$227,250||5.70%||-5.29%|
|All-residential(5) average selling price||$369,258||-1.34%||-2.48%|
|All-residential median selling price||$350,000||0.03%||-1.82%|
|# residential listings this month||3,470||0.32%||10.97%|
|# residential sales this month (reported)||1,555||20.17%||5.78%|
|# residential inventory at month end||8,788||10.36%||14.85%|
|# Total(6) MLS® System sales this month||1,959||18.37%||3.98%|
|$ Total value MLS® System residential sales - month||$638,681,304||17.31%||1.90%|
|$ Total value MLS® System sales – month||$726,891,372||19.62%||1.13%|
|$ Total value MLS® System sales – YTD||$2,218,097,878||48.62%||-4.11%|
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®).