- Inventory is up and climbing. It is normal to see more on the market this time of year, and remember a year ago was still fairly low for inventory.
- Houses are still selling. 1,069 last month. This is down 10% from a year ago, so you know where I am going with price...
- Prices for houses are starting to show the switch in the market, which is down 2.79% for single family homes and 4.88% for condos. We aren't surprised to see this.
Remember, if about 1 in 6.5 houses are selling every month, you need a winning strategy to sell. I'm here for you.
Edmonton, March 2, 2016: Residential inventory saw another significant increase in February, surpassing 6,000 listings on the market, ending the month with 6,681 properties for sale on the MLS® System for the Edmonton Census Metropolitan Area (CMA). That’s a 16.17% increase over last month, and 33.41% more homes listed for sale than February 2015. Sales for February were up 36.54% month-over-month at 837 compared to 618 in January, but 10.1% lower than the 931 properties that sold during the same time last year."
|February 2016||M/M % Change||Y/Y % Change|
|SFD2 average3 selling price – month||$419,940||0.24%||-2.79%|
|SFD median4 selling price – month||$400,000||3.16%||0.00%|
|Condominium average selling price||$247,090||8.83%||-1.32%|
|Condominium median selling price||$224,000||1.82%||-4.88%|
|All-residential5 average selling price||$363,266||6.93%||-0.27%|
|All-residential median selling price||$347,500||5.30%||-0.71%|
|# residential listings this month||2,765||16.96%||14.87%|
|# residential sales this month (reported)||837||36.54%||-10.10%|
|# residential inventory at month end||6,681||16.17%||33.41%|
|# Total6 MLS® System sales this month||1,069||34.30%||-10.47%|
|$ Value Total residential sales this month||$342 million||42.35%||-10.99%|
|$ Value of total MLS® System sales – month||$383 million||42.39%||-13.55%|
|$ Value of total MLS® System sales - YTD||$686 million||155%||-14.44%|
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