My top 3 takes:
- prices are still up (3% for single family dwellings, 2% for condos)
- inventory is at a "balanced" number now, 7,303. We consider about 7,000 to be balanced usually.
- sales volume is down significantly from last year, although May was much busier than April 2015.
Will be staying tuned for the June numbers!
Edmonton, June 2, 2015: With new listings down over 2% from last May, we are finally starting to see the Edmonton Census Metropolitan Area (CMA) inventory begin to stabilize. Even with a wealth of residential property on the market (almost 30% more than last year), we are continuing to see price increases for all residential properties.
|May 2015||M/M % Change||Y/Y % Change|
|SFD2 average3 selling price – month||$451,312||2.89%||2.97%|
|SFD median4 selling price – month||$418,950||2.18%||2.18%|
|Condominium average selling price||$256,143||1.27%||1.77%|
|Condominium median selling price||$235,250||0.11%||0.11%|
|All-residential5 average selling price||$381,111||1.02%||2.48%|
|All-residential median selling price||$360,000||0.28%||2.24%|
|# residential listings this month||3,314||0.49%||-2.18%|
|# residential sales this month||1,784||11.71%||-9.85%|
|# residential inventory at month end||7,303||7.65%||29.62%|
|# Total6 MLS® System sales this month||2,306||10.76%||-13.86%|
|$ Value Total residential sales this month||$770 million||14.30%||-24.04%|
|$ Value of total MLS® System sales – month||$874 million||10.36%||-13.74%|
|$ Value of total MLS® System sales - YTD||$3.3 billion||39.06%||-12.96%|
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
3 Average prices indicate market trends only. They do not reflect actual changes for a particular property, which may vary from house to house and area to area. Prior period sales figures have been adjusted to include late reported sales and cancellations and therefore reflect a more accurate view of the period than previously reported at month end. The RAE trading area includes communities beyond the CMA (Census Metropolitan Area) and therefore average and median prices may include sold properties outside the CMA. For information on a specific area, contact your local REALTOR®.