In the Edmonton Census Metropolitan Area (CMA), all residential average unit sales decreased 2.25% compared to July 2018 and increased 1.89% compared to August 2017. Single family home sales increased both 1.44% month over month and 6.15% year over year. Condominium sales decreased 6.34% relative to July 2018 and increased 0.5% relative to August 2017. Duplex/rowhouses decreased 10.29% month over month and decreased 14.67% year over year.
The average all residential selling price decreased 1.38% to $364,925 compared to July 2018 and decreased 2.30% compared to August 2017. Single family home average prices decreased 2.83% to $424,471 month over month and decreased 3.23% year over year. Condominium average prices decreased 0.57% compared to July 2018 and decreased 0.12% compared to August 2017. Duplex/rowhouse average prices decreased 3.38% month over month and decreased 6.90% year over year.
“Both sales and listings typically decrease during August, as many buyers and sellers shift their focus on preparing for the new school year,” says REALTORS® Association of Edmonton Chair Darcy Torhjelm. “As we move into the fall, buyers still have a lot of inventory to look at in all categories of residential properties. For sellers, they may have to be more patient and flexible when selling their properties, but they should still be able to get a good price for their house in the end.”
Listings decreased 4.51% compared to July 2018 and increased 1.63% compared to August 2017. Inventory also decreased month over month, down 2.62% and increased 7.73% year over year. In total, there were 1,567 MLS® System listed properties sold in August 2018, a decrease of 2.25% month over month and an increase of 1.89% year over year.
Average days on market increased for most categories, indicating it continues to be a buyers’ market for the Edmonton CMA. The average for single family homes increased to 59 days for August 2018, seven days longer than July 2018 and eight days longer than August 2017. Condominiums average days on market increased to 73 in August 2018, seven days longer than July 2018 and five days longer compared to August 2017. For duplex/rowhouses, the average days on market was 63, increasing from 61 in July 2018 and one day shorter relative to August 2017.
Review these statistics and more at www.ereb.com.
Highlights of MLS® System activity (for all-residential sales in Edmonton CMA1)
|August 2018||M/M % Change||Y/Y % Change|
|SFD2 average(3) selling price – month||$424,471||-2.83%||-3.23%|
|SFD median(4) selling price – month||$384,500||-3.43%||-3.03%|
|Condominium average selling price||$244,701||-0.57%||-0.12%|
|Condominium median selling price||$225,000||0.00%||0.00%|
|All-residential(5) average selling price||$364,925||-1.38%||-2.30%|
|All-residential median selling price||$340,000||-2.30%||-1.23%|
|# residential listings this month||3,050||-4.51%||1.63%|
|# residential sales this month (reported)||1,567||-2.25%||1.89%|
|# residential inventory at month end||9,618||-2.62%||7.73%|
|# Total(6) MLS® System sales this month||2,065||-3.91%||3.51%|
|$ Total value MLS® System residential sales - month||$644,023,366||-4.28%||-0.85%|
|$ Total value MLS® System sales – month||$756,855,957||-5.67%||1.77%|
|$ Total value MLS® System sales – YTD||$5,468,936,843||16.03%||-4.05%|
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®).