October's main points are as follows:
- Total sales were down 6.5% from 2015,
- Total inventory was up 10% from 2015 (both of these are stable trend we have seen over the last few months)
- Average prices were off trend through, up 4% last year, condo sales were down 2%, and house prices were steady.
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Stable residential prices not affected by slower sales
Edmonton market continues to remain stable during economic uncertainty
Edmonton, October 4, 2016:
September’s all residential average sale price in the Edmonton Census Metropolitan Area (CMA)
continues to remain strong both month-over-month (m/m) and year-over-year (y/y) up 1.1% and 1.5%
respectively. The average price of single family homes remains consistent down less than 1% m/m
and down 0.2% y/y to $430,461. Condos average prices also remained flat at $251,365 (-0.06%
m/m,-0.45% y/y). Average prices for duplex and rowhouses stood firm, up 4.66% from August 2016
and down slightly year-over-year for the month of September.
“We are moving into the quieter real estate months with a healthy inventory, strong prices and slower
listings and sales,” said Steve Sedgwick, Chair of the REALTORS® Association of Edmonton. “It
continues to be a good time to buy. We usually see less inventory coming into winter months, so it is
beneficial for buyers to have a respectable selection and reassuring for sellers to see continued
stability in average sale prices.”
1,339 units reported sold in September 2016; all residential sales in the Edmonton CMA were down
6.56% m/m and down 8.41% y/y. 846 single family homes were reported sold, down 3% from the
previous year. Reported condo sales at 327 were down over 20% relative to September 2015.
Duplex/rowhouse sales at 135 were down by only 1 unit from August but down 5.59% over last year.
All residential listings were down slightly for September -0.29% m/m and -1.47% y/y.