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Edmonton Real Estate Market News November 2016

Blog by Sara Kalke | December 4th, 2016

The latest news is out from the REALTORS® Association of Edmonton.  See the full news release HERE.

Here are the three top points:
  1. Total sales are down 11% and inventory is up 7.45% from last year,
  2. Median prices are down across the board but average prices varied, with condos having the biggest adjustment and being down in both categories,
  3. Listing volume decreased this month by 4.65% indicating that some sellers are either choosing to take their properties off the market, or will put them back on again in spring 2017.

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Average selling prices for single family homes up 3.95% in November

Edmonton, December 2, 2016: The average monthly selling price for single family homes increased
by 3.95% and 6.39% for duplexes and rowhouses relative to October 2016. Condominiums
experienced a minor decrease in price of 1.68% relative to October 2016. Prices for single family
homes grew 1.76% relative to November 2015. November’s unit sales dropped 11.41% relative to the
same period last year.

The all-residential listings average selling price increased 2.52% to $373,174. Single family homes
increased to $440,496 and duplex/rowhouses increased to $353,818. Condominium average prices
decreased slightly to $241,569. This average selling price for single family homes in November is the
second highest for 2016, behind only July.