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Prices Steady, Inventory Up


Blog by Sara Kalke | May 4th, 2016


Edmonton Real Estate Market Update: Sales March On, Prices Dip

Here it is, the latest numbers from the REALTORS® Association of Edmonton.  My top 3 as always:

1) Inventory is up and climbing. Up 18% from last year

2) Houses are still selling.  1,498 last month.  This is down 6% from a year ago, so you know where I am going with price...

3) Average prices for houses are still holding fairly steady, which is down just slightly for houses and condos, but remember the average shows Edmontonians are still buying mostly in the same range for houses and condos.

Remember, if about 1 in 8 houses are selling every month, you need a winning strategy to sell.  I'm here for you.

Sara


Resale housing inventory up 18%, but prices remain strong

Edmonton, May 3, 2016: Despite an 18% increase in inventory for the Edmonton Census Metropolitan Area (CMA), all residential prices remain stable at $377,283 for April 2016. That is down less than 1% from the previous month and up less than 1% from last year.  For the full article, see the REALTORS® Association of Edmonton WEBSITE

DATA:


April 2016                               M/M % Change Y/Y % Change
SFD2 average3 selling price – month         $439,982     0.04%         0.88%
SFD median4 selling price – month         $407,000     0.49%         0.00%
Condominium average selling price         $250,869     -0.09%     -0.54%
Condominium median selling price         $232,000     -0.64%     -1.28%
All-residential5 average selling price         $377,283     -0.59%     0.23%
All-residential median selling price         $357,750     0.00%         -0.54%
# residential listings this month         3,258         5.71%         -1.33%
# residential sales this month (reported)     1,498         9.82%         -6.20%
# residential inventory at month end         8,033         10.13%     18.41%
# Total6 MLS® System sales this month     1,947         13.26%     -6.48%
$ Value Total residential sales this month     $637 million     9.57%         -7.94%
$ Value of total MLS® System sales – month     $737 million     13.21%     -6.95%
$ Value of total MLS® System sales - YTD     $2.25 billion     56.77%     -9.42%

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


Total Active listings in the entire REALTORS® Association of Edmonton database recorded by Sara Kalke, this is not a published statistic from the board and is bigger than the residential inventory listed above.