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Edmonton Real Estate November 2011 Market Statistics

Blog by Sara Kalke | December 5th, 2011

Along with the first snowfall came longer nights and sleepy sales activity in Edmonton in November.  Total sales volume was down 8.2% from November last year, but prices remained steady and inventory decreased.  This is all very typical for November in Edmonton, but on a good note, properties are still selling - 1,236 properties sold in greater Edmonton last month, which is no small figure! 

Which properties are selling then?  My observation is that the properties that have PROFESSIONAL marketing (i.e. professional photography, home staging and excellent exposure) AND CORRECT PRICING are ones that sell.  One without the other doesn't seem to do the trick when we are in a buyer's market (which we still are if you were wondering!).  Want your property marketed right?  Contact me and I'll show you how it's done!

Warm regards,

REALTORS® Association sees stable market with few surprises

Edmonton, December 5, 2011: There were no surprises in the month-end Multiple Listing Service® sales figures for the month of November released by the REALTORS® Association of Edmonton today. The all-residential average* sales price of $321,135 was up less than one percent from last month and last November. Single family detached homes sold on average for $365,734 which is marginally higher than last November and last month. Condominium average price ($227,901) was up 2.3% month-over-month (from $222,778) but down 0.6% from a year ago (from $229,337).

“Prices will vary from neighbourhood to neighbourhood and from property to property,” said REALTORS® Association of Edmonton President Chris Mooney. “But generally your home would have sold last month for about the same amount as it did last year. There was a slight decrease in sales activity compared to last year but listings also decreased reducing the inventory to the level it was at in February.”

  • Residential listings = 1,800 with sales = 1,084
  • Total MLS® listings = 2,239 with sales = 1,236
  • Residential inventory = 6,588
  • Total MLS® inventory = 10,390
  • Sales-to-listing ratio (residential) = 60%, in 2010 = 64%
  • Days-on-market = 59 (same as October), last November = 64 days

“I almost think that the market is resting after the maelstrom that has occurred in the past five years,” said Mooney. “Compared to other national and global markets this part of the world is a safe haven with stability right now and great prospects in the very near future.” Total MLS® sales for the year-to-date were $5.96 billion compared to just $5.84 billion last November.


Highlights of MLS® System activity

¹. Residential includes SFD, condos and duplex/row houses.
². Single Family Dwelling
³. The middle figure in a list of all sales prices

* 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 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. For information on a specific area, contact your local REALTOR®.