- Inventory is up, reminds me of the exact same blog posts I wrote in 2011 and 2012. We are starting February at 5,751 residential listings, a number which seems to be steadily climbing
- Properties are still selling, 618 in total in January. That number is far down from a busy month like April - June, but people are still selling.
- Average prices are down 1.23% for single family homes and 10.27% for condos from a year ago. Given that December 2014 saw a serious shortage of inventory, this number isn't a surprise.
I am hearing a lot of stories of buyers having frustrating times with issues with their properties, challenges with building homes, and more than anything, fear about the year ahead. I am always here to help, from your renovation resale questions, assistance through the building process and planning for your home ownership future.
Edmonton, February 2, 2016: Residential inventory continues to remain strong, as January closed out with 5,751 properties for sale on the MLS® System for the Edmonton Census Metropolitan Area (CMA). That’s an increase of 39.2% over this time last year, and 13.03% up over last month. Sales for January were down however, with 618 properties selling in the first month of 2016, down 13.32% month-over-month, and 7.21% lower year-over-year (YoY).
More at the REALTORS® Association of Edmonton site
MLS® System Activity (for all-residential sales in Edmonton CMA1)
|January 2016||M/M % Change||Y/Y % Change|
|SFD2 average3 selling price – month||$418,928||-1.34%||-1.23%|
|SFD median4 selling price – month||$387,750||0.71%||-0.70%|
|Condominium average selling price||$227,052||-8.80%||-10.27%|
|Condominium median selling price||$220,000||-8.33%||-8.71%|
|All-residential5 average selling price||$339,714||-7.24%||-6.34%|
|All-residential median selling price||$330,000||-4.35%||-3.42%|
|# residential listings this month||2364||84.98%||1.98%|
|# residential sales this month (reported)||618||-13.32%||-7.21%|
|# residential inventory at month end||5751||13.03%||39.18%|
|# Total6 MLS® System sales this month||796||-14.32%||-11.26%|
|$ Value Total residential sales this month||$240 million||-18.75%||-14.15%|
|$ Value of total MLS® System sales – month||$269 million||-21.50%||-18.38%|
|$ Value of total MLS® System sales - YTD||$269 million||-96.82%||-18.38%|
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
Stats from the REALTORS® Association of Edmonton