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Edmonton Real Estate Market News August 2016


Blog by Sara Kalke | August 8th, 2016


Here we are, details from the July 2016 Edmonton real estate market. 

On the ground, we are seeing a few interesting trends: more sales of luxury properties, very strong sales in core properties (especially in properties that need very little work), but very quiet sales for condos - they were down 25% year over year.

Top 3 Take-Aways:
  • Prices held steady due to some luxury property sales pushing up the average
  • Inventory is still up, about 11% higher than last year
  • Total MLS residential sales are down 13% from last year

The key to success continues to be having an undeniable strategy: accurate pricing, list-smart MLS listing, and flawless marketing.

Questions?  I'm here to help! 

Sara





Price stability continues in Edmonton’s Residential Market

Sales of high priced homes push average price up by 3%; median price stays the same.

Edmonton, August 3, 2016: The all residential average sale price continues to remain strong at $384,504 up almost 2% over the previous month and over 3% from July 2015. At $450,366, single family homes experienced an increase in average price of over 3% from both the previous month and year. The 2% drop in average condo price month-over-month can be partially attributed to the sale of several luxury properties in June that bolstered the average price. The average condo sale price for July 2016 of $257,482 remains the same as July 2015.  The average duplex/rowhouse sold for $348,050; down 2% year-over-year (y/y) and down 1% month-over-month (m/m).

Full Article HERE


Statistics:

MLS® System Activity (for all-residential sales in Edmonton CMA1)

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