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Edmonton Real Estate Market Update September 2015

Blog by Sara Kalke | September 2nd, 2015

Wow, another month!  The kids (including mine!!) are headed back to school and the weather is getting cooler.  I have been very busy selling houses, and finding that the changes with the oil prices are settling into the market, with higher inventory and buyers insisting that properties be priced properly before they will buy them.  I brought on another assistant, Joanna, to better serve my fabulous clients!! 

Here are the statistics through August 2015, and my top 3 points as always:

  1. Inventory is holding steady from last month but is up 35% from last August.  More supply.
  2. Total system sales (everything sold in the REALTORS® Association of Edmonton's MLS system) were down 11% from last year.  Less demand.
  3. All residential sale prices were "up" by 1% from last year, but this really means we are chipping away at the gains from over last fall and into the winter.  Really it looks like prices are up but they are down in the overall trend.  Prices are down.

So, economics 101 here, more supply + less demand = lower prices.

Great marketing is as important as ever.  My success program is really working, helping sellers actually sell, and buyers find the best value properties out there.  As of last month, I was the #7 agent for RE/MAX in Edmonton (#9 if you count Sherwood Park), so the system is definitely working, even in a market where fewer homes are selling.  Need help getting 'er done?  Call me anytime.

Sara Kalke

Average residential prices post modest gain of 1% over August of last year

Edmonton, September 2, 2015:  The average residential price in August for the Edmonton Census Metropolitan Area (CMA) is up 1% year-over-year (YoY) and down slightly by 0.2% relative to last month. A single family home in the Edmonton Census Metropolitan Area (CMA) sold for an average of $439,829; up 0.7% from July and up 1.0% YoY. The average for all residential properties sat at $372,256; down 0.2% from July and up 1.0% over last August.

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