As always, here are my top 3 points from this data:
- Year over year prices have dropped, by 2.62% for single family houses to 0.87% for condos
- Inventory of houses for sale is still up 54% from last year, this number has been steadily increasing throughout the year. Remember last year's market had a shortage of inventory.
- Total MLS sales this month were down only 5.04% from last year, compared to 23% in October, 10% in September, and 11% in August.
The great news is that we aren't seeing major price changes, and houses are still selling. What I am seeing on the ground is that buyers are getting more for their money than they were last year generally, a change which isn't always reflected in averages. In any case, some happy news before Christmas is most certainly welcome.
Edmonton, December 2, 2015: Edmonton’s housing market saw strong sales numbers in November. November’s all residential reported sales were down only 2.9% year-over-year (YoY), a notable improvement compared to October 2015 numbers which saw a 15% drop compared to October 2014. The average residential sales price in November for the Edmonton Census Metropolitan Area (CMA) dipped slightly by 3.1% YoY, however average year-to-date prices in November 2015 remain strong year-to-date (YTD) and are up 1.5% compared to November 2014 YTD.
|MLS® System Activity for November 2015||M/M % Change||Y/Y % Change|
|SFD2 average3 selling price – month||$432,862||-1.38%||-2.62%|
|SFD median4 selling price – month||$401,611||1.03%||-2.02%|
|Condominium average selling price||$253,618||3.85%||-0.87%|
|Condominium median selling price||$234,555||4.25%||-0.15%|
|All-residential5 average selling price||$369,559||-0.59%||-3.15%|
|All-residential median selling price||$350,750||1.37%||-1.92%|
|# residential listings this month||1,914||-15.76%||34.98%|
|# residential sales this month||1,104||-7.92%||-2.90%|
|# residential inventory at month end||6,043||-9.00%||54.71%|
|# Total6 MLS® System sales this month||1,413||-10.17%||-5.04%|
|$ Value Total residential sales this month||$459 million||-7.66%||-3.97%|
|$ Value of total MLS® System sales – month||$525 million||-10.43%||-7.30%|
|$ Value of total MLS® System sales - YTD||$8.07 billion||7.47%||-9.88%|
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