All residential average prices stable, unit sales decrease-September 2018

by qdeanj 17. October 2018 10:34

Edmonton, October 3, 2018: In the Edmonton Census Metropolitan Area (CMA), the all residential average prices increased 2.48% to $373,958 compared to August 2018 and increased 0.94% compared to September 2017. Single family home average prices increased 1.71% month over month and increased 0.25% year over year. Duplex/rowhouse average prices also increased in both categories, up 4.38% compared to August 2018 and up 0.68% compared to September 2017. Condominium average prices decreased 1.53% month over month and decreased 4.28% year over year. Unit sales are down across all categories. Single family home sales decreased 19.41% relative to August 2018 and 2.22% relative to September 2017. Condominium sales decreased 28.82% month over month and decreased 19.09% year over year. Duplex/rowhouse sales also declined, decreasing 21.02% compared to August 2018 and 21.52% compared to September 2017. Overall, all residential unit sales showed a decrease of 21.83% month over month and 8.53% decrease year over year. Average days on market increased for all categories. The average for single family homes increased to 61 days for September 2018, two days longer than August 2018 and eight days longer than September 2017. Condominiums average days on market increased to 75 in September 2018, two days longer than August 2018 and seven days longer compared to September 2017. For duplex/rowhouses, the average days on market was 66, increasing from 63 in August 2018 and 61 days in September 2017. “Stable prices coupled with decreasing sales and increasing days on market indicates sellers are most likely staying firm on their prices and choosing to wait longer to get the price they feel is best for their properties,” says REALTORS® Association of Edmonton Chair Darcy Torhjelm. “As we move further into our final quarter, we will likely continue to see sales decreasing as is typical for this time of year.” Both inventory and listings decreased in September, with inventory down 1.53% and listings down 17.41% compared to August 2018. Listings also decreased 8.53% compared to September 2017, while inventory increased year over year by 7.35%. In total, there were 1,225 MLS® System listed properties sold in September 2018, a decrease of 21.83% month over month and an decrease of 8.24% year over year.

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All residential unit sales increase 1.89% year over year- AUGUST 2018

by qdeanj 10. September 2018 10:37
Edmonton, September 5, 2018: In the Edmonton Census Metropolitan Area (CMA), all residential average unit sales decreased 2.25% compared to July 2018 and increased 1.89% compared to August 2017. Single family home sales increased both 1.44% month over month and 6.15% year over year. Condominium sales decreased 6.34% relative to July 2018 and increased 0.5% relative to August 2017. Duplex/rowhouses decreased 10.29% month over month and decreased 14.67% year over year. The average all residential selling price decreased 1.38% to $364,925 compared to July 2018 and decreased 2.30% compared to August 2017. Single family home average prices decreased 2.83% to $424,471 month over month and decreased 3.23% year over year. Condominium average prices decreased 0.57% compared to July 2018 and decreased 0.12% compared to August 2017. Duplex/rowhouse average prices decreased 3.38% month over month and decreased 6.90% year over year. “Both sales and listings typically decrease during August, as many buyers and sellers shift their focus on preparing for the new school year,” says REALTORS® Association of Edmonton Chair Darcy Torhjelm. “As we move into the fall, buyers still have a lot of inventory to look at in all categories of residential properties. For sellers, they may have to be more patient and flexible when selling their properties, but they should still be able to get a good price for their house in the end.” Listings decreased 4.51% compared to July 2018 and increased 1.63% compared to August 2017. Inventory also decreased month over month, down 2.62% and increased 7.73% year over year. In total, there were 1,567 MLS® System listed properties sold in August 2018, a decrease of 2.25% month over month and an increase of 1.89% year over year. Average days on market increased for most categories, indicating it continues to be a buyers’ market for the Edmonton CMA. The average for single family homes increased to 59 days for August 2018, seven days longer than July 2018 and eight days longer than August 2017. Condominiums average days on market increased to 73 in August 2018, seven days longer than July 2018 and five days longer compared to August 2017. For duplex/rowhouses, the average days on market was 63, increasing from 61 in July 2018 and one day shorter relative to August 2017.

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All residential average unit prices decrease, unit sales increase month over month

by qdeanj 3. August 2018 11:56
Edmonton, August 2, 2018: In the Edmonton Census Metropolitan Area (CMA), the average all residential selling price decreased 2.07% to $370,046 compared to June 2018 and decreased 3.63% compared to July 2017. Single family home average prices decreased 1.44% to $436,825 month over month and decreased 2.25% year over year. Duplex/rowhouse average prices decreased 0.71% month over month and decreased 0.48% year over year. Condominium average prices increased 3.35% compared to June 2018 and decreased 6.22% compared to July 2017. Compared to June 2018, single family home sales decreased 9.01% and compared to July 2017, decreased 3.29%. Duplex/rowhouses increased 4.17% compared to June 2017 and decreased 3.31% relative to July 2017. Condominium sales increased 2.65% month over month and 3.40% year over year. “The overall real estate market is softening as the summer selling season begins to slow,” says REALTORS® Association of Edmonton Chair Darcy Torhjelm. “Average prices are decreasing and that may continue in the rest of the year due to the high inventory levels. It is important for sellers to be prepared to negotiate more and expect to be a bit more flexible with their property prices.” Inventory increased slightly in July, up 0.52% compared to July 2018 and up 12.62% compared to June 2017. New listings decreased 13.02% month over month and increased 4.04% year over year. In total, there were 1,603 MLS® System listed properties sold in July 2018, a decrease of 4.47% month over month and a decrease of 0.99% year over year. Average days on market increased for most categories, indicating more of a buyers’ market for the Edmonton CMA. The average for single family homes increased to 52 days for July 2018, two days longer than June 2018 and four days longer than July 2017. For duplex/rowhouses, the average days on market was 61, increasing from 57 in June 2018 and 55 in July 2017. Condominiums required one less day in July 2018, decreasing to 66 days on market from 67 in June 2018 and 60 days in July 2017.

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Single family unit sales down 10.27% relative to 2017; Average days on market increasing

by qdeanj 9. July 2018 07:10
Edmonton, July 4, 2018: In the Edmonton Census Metropolitan Area (CMA) in June 2018, the all residential average selling price was $377,880, increasing 0.20% compared to May 2018 and decreasing 3.96% compared to June 2017. The average price of a single family home was $443,210, an increase of 0.19% month over month and a decrease of 2.37% year over year. Condominium average prices decreased 1.42% compared to May 2018 and decreased 8.55% relative to June 2017. Duplex/rowhouse average prices decreased 0.61% month over month and decreased 1.64% year over year. Unit sales activity for June 2018 decreased in all categories. Single family home sales decreased 4.91% month over month and 10.27% year over year. Condominium sales decreased 7.78% relative to May 2018 and 9.59% compared to June 2017. Duplex/rowhouse sales decreased 4% month over month and 7.18% year over year. Overall, the all residential sales were down 5.52% compared to May 2018 and down 9.83% compared to June 2017. "Average prices are remaining stable, however sales are slower than typical for this time of year,” says REALTORS® Association of Edmonton Chair Darcy Torhjelm. “With increasing inventory and days on market, couple with decreasing sales, sellers will need to be patient and consider their homes’ competitive advantages to stand out in the current buyers’ market." New listings in June 2018 decreased 11.22% relative to May 2018, while increasing 8.10% compared to June 2017. Inventory is also still higher, with an increase of 6.40% compared to May 2018 and an increase of 15.28% compared to June 2017. The average days on market for all residential properties increased slightly for June 2018, increasing to 56 days over 53 days the previous month and year. It took a little longer for single family homes and condominiums to sell this month as well. For single family homes, it took an average of 50 days, which was an increase from 46 days month for both over month and year over year. The average days on market for condominiums was 67 days, an increase from 66 in May 2018 and from 62 days in June 2017. The only category to decrease was duplex/rowhouses, taking 57 days in June, which was down from 59 days in May 2018 and 62 days in June 2017.

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Month Over Month Unit Sales - May 2018

by qdeanj 6. June 2018 13:25
Edmonton, June 4, 2018: In the Edmonton Census Metropolitan Area (CMA) in May 2018, month over month unit sales increased in all property categories. Compared to April 2018, single family home sales increased 15.45%, condominium sales increased 18.42% and duplex/rowhouse sales increased 3.55%. Year over year unit sales for single family homes decreased 3.86%, condominium sales increased 1.12% and duplex/rowhouse sales decreased 12.06%. In total, there were 1,776 MLS® System listed properties sold in May 2018, which is an increase of 14.21% compared to April 2018 and a decrease of 3.64% compared to May 2017. The all residential average selling price was $377,139, up 2.13% compared to April 2018 and down 0.54% relative to May 2017. The average price of a single family home was $442,348, an increase of 3.08% month over month and an increase of 0.40% year over year. Condominium average prices decreased 2.36% compared to April 2018 and decreased 3.86% relative to May 2017. Duplex/rowhouse average prices increased 7.07% month over month and increased 0.77% year over year. “Prices and unit sales in the Edmonton CMA market remain stable. This is good news for sellers who have been concerned about selling their properties before the summer months in a ‘buyer’s market’,” says REALTORS® Association of Edmonton Chair Darcy Torhjelm. “Buyers continue to have a great selection of properties to choose from, which means sellers need to be competitive with their listings.” Inventory also increased in May, up 13.23% compared to April 2018 and up 16.03% compared to May 2017. New listings also grew, increasing 19.19% month over month and increasing 12.82% year over year. The average days on market for all residential properties decreased to 53 days, three days shorter than in April 2018 and one day shorter than May 2017. For single family homes, the average days on market was 46, down from 52 in April 2018 and down from 48 in May 2017. Condominium average days on market were unchanged, remaining at 66 for the month of May, which is still up from 62 days in May 2017. For duplex/rowhouses, the average days on market was 59, also unchanged from the previous month, and down from 59 in May 2017. “Buyers are eagerly waiting to see what the best selection will be when they look for a new home, which means sellers will need to price their homes in a way that will be appealing to as many buyers as possible,” says Torhjelm. “Your professional REALTOR® will be able to provide the advice both buyers and sellers need to navigate this process.”

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Year Over Year Sales Volumes on the Rise

by qdeanj 7. May 2018 12:37

e Edmonton, May 2, 2018: In the Edmonton Census Metropolitan Area (CMA) in April 2018, month over month unit sales increased in most categories. Compared to March 2018, single family home sales increased 22.76%, condominium sales increased 12.09% and duplex/rowhouse sales increased 20.71%. When comparing year over year unit sales, single family home sales increased 7.65%, condominium sales decreased 3.06% and duplex/rowhouse sales increased 15.75%. Year over year sales for all residential properties increased 5.78%. Inventory also increased, up 13.58% month over month and 14.85% year over year. Total new listings in April was 3,470, up 0.32% relative to March 2018 and up 10.97% compared to April 2017. In total, there were 1,555 MLS® System listed properties sold, which is an increase of 20.17% compared to March 2018 and an increase of 5.78% in April 2017. “We are in the busiest season for real estate in Edmonton, so sales is consistent with seasonal market trends,” says Darcy Torhjelm, REALTORS® Association of Edmonton Chair. The all residential average price was $369,258, down 1.34% compared to March 2018 and down 2.48% relative to April 2017. The average price of a single family home was $429,116, a decrease of 3.37% month over month and a decrease of 2.39% year over year. Condominium average prices increased 5.63% compared to March 2018 and decreased 4.51% relative to April 2017. Duplex/rowhouse average prices decreased 7.33% month over month and decreased 9.48% year over year. Average days on market for all residential properties decreased to 57 days, one day shorter than in March 2018 but two days longer compared to April 2017. For single family homes, the average days on market was 52, up from 51 in March 2018 and up from 48 in April 2017. Condominium average days on market was 66, down from 72 the previous month, and up from 60 in April 2017. For duplex/rowhouses, the average days on market was 59, up from 57 in March 2018 and down from 64 in April 2017. “More sellers are entering the market and are motivated to move their properties before the summer months, which provides the best selection of properties for buyers who are actively looking and taking advantage of the increased number of listings,” says Torhjelm. “It’s a great time to speak to a REALTOR® for professional advice on navigating the buying and selling process.”

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Month Over Month Unit Sales and Listings Increase- March 2018

by qdeanj 16. April 2018 17:23

Edmonton, April 3, 2018: In the Edmonton Census Metropolitan Area (CMA) in March 2018, month over month unit sales increased in all categories. Single family home sales increased 24.18%, condominium sales increased 16.90% and duplex/rowhouse sales increased 22.81% compared to February 2018. Year over year sales were down. Single family home sales decreased 11.32%, condominium sales decreased 14.82%. Duplex/rowhouse sales decreased 3.45%. On average across all categories, year over year sales for all residential properties decreased 11.73%. There were 1,294 MLS® System listed properties sold, which is an increase of 23% compared to February 2018. New listings in March were 3,459, up 35.22% relative to February 2018 and up 13.26% compared to March 2017. “We generally see housing market activity increase at this time of year,” says Darcy Torhjelm, REALTORS® Association of Edmonton Chair. “Despite the year over year decreases, the market is still growing relative to February 2018 in preparation for the spring buying season. Market growth should continue in the coming months.” Inventory increased both month over month and year over year. There were 7,963 properties available, an increase of 17.48% compared to February 2018 and an increase of 14.77% compared to March 2017. Days on market also decreased across all categories. For single family homes, the average days on market was 51, down from 59 in February 2018 and up from 49 in March 2017. Condominium average days on market was 72, down from 75 the previous month, and up from 67 in March 2017. For duplex/rowhouses ,the average days on market was 57 down from 64 in February 2018 and up from 61 in March 2017. The average price of a single family home was $444,091, an increase of 0.43% month over month and 1.06% year over year. Condominium average prices decreased 1.10% compared to February 2018 and decreased 3.47% relative to March 2017. Duplex/rowhouse average prices decreased 1.44% month over month and increase 0.53% year over year. Overall, the all residential average price was $374,264, down only 0.03% compared to February 2018 and up 0.77% relative to March 2017.

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February 2018- Unit sales and average prices increase for the spring market

by qdeanj 13. March 2018 13:39

Edmonton, March 2, 2018:  Spring has hit the real estate market in the Edmonton Census Metropolitan Area (CMA), bringing strong unit sales and average price increases. When compared to January 2018, unit sales across all categories increased, with single family home sales increasing 22.97%, condo sales increasing 14.17% and duplex/rowhouse sales increasing 21.28%. Year over year single family homes unit sales decreased 4.21%, condo sales decreased 4.92% and duplex/rowhouses sales decreased 7.32%. Year to date sales for all residential categories was up 2.43% compared to February 2017. Month over month and year over year average unit prices increased across all categories. The average price of a single family home was $442,206, which was an increase of 3.14% compared to January 2018 and an increase of 3.73% compared to February 2017. The average price of a condo was $236,808, an increase of 4% month over month and 1.48% year over year. The duplex/rowhouse average price increased to $354,638, up 1.73% relative to January 2018 and up 2.62% relative to February 2017. “February turned out to be a busy month for REALTORS®, which was reflected in the increases in sales activity and average prices across all categories of residential properties,” said Darcy Torhjelm, Chair of the REALTORS® Association of Edmonton. Inventory increased 10.90% compared to January 2018 and was up 8.67% compared to February 2017. Listings also increased, up 4.03% month over month and 5.92% year over year. Days on market decreased for all categories compared to January 2018. Single family homes took an average of 59 days to sell, condos required 75 average days and duplex/rowhouses needed 64 days to sell. Overall the average days on market for all residential properties was 65, which was 10 days faster than January 2018 and identical to February 2017. 

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January 2018- Year over year all residential unit sales up 14%

by qdeanj 13. February 2018 14:19
Edmonton, February 2, 2018: Total all residential unit sales in January 2018 in the Edmonton Census Metropolitan Area (CMA) were up 14.23% relative to January 2017. Specifically, across each category when compared to January 2017, single family home unit sales were up 12.85%, condominium unit sales were up 14.41% and duplex/rowhouse unit sales were up 22.08%. The average single family home unit price increased to $428,750, an increase of 2.89% compared to December 2017 and an increase of 2.20% compared to January 2017. The duplex/rowhouse average unit price was $348,613, which was an increase of 3.44% compared to December 2017 and a decrease of 2.06% relative to January 2017. The condominium average unit price was $227,707, which was a decrease of 3.62% month over month and decrease of 7.04% year over year. In total, the average all residential unit price was $359,134, a modest increase of 0.56% relative to December 2017 and an increase of 0.64% compared to January 2017. “January 2018 unit sales were strong, coupled with an increase in year over year listings of more than 15%, which is typical for this time of year,” said Darcy Torhjelm, REALTORS® Association of Edmonton Chair. Compared to January 2017, listings were up 15.28% to 2,133 properties total, which was a 98.63% increase month over month. Overall inventory increased 2.97% month over month and 7.05% year over year. Days on market reflected the winter season, with increases across all categories compared to December 2017. For single family homes, the average days on market was 67. Duplex/rowhouses increased to 72 average days on market and condominium average days on market was 90. “The increase in the average days on market appears to reflect that buyers are taking time to consider their options before purchasing a new home,” Torhjelm said. “With the mortgage stress test rule changes and the latest interest rate change, it will be interesting to see how that impacts the 2018 market.”

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Year-over-year all residential housing prices up 1.72%

by qdeanj 7. November 2017 12:55
Edmonton, November 2, 2017: The average residential price in October for the Edmonton Census Metropolitan Area (CMA) is up 1.72% year-over-year (YoY) with reported unit sales down only 0.15% relative to October 2016. All residential properties average price for October 2017 was $370,484, up 0.06% from September. A single family home sold for an average of $431,654; up 0.23% from September and up 1.44% from October 2016. The average price for condominiums was $242,887, which decreased 3.74% over last month and decreased 0.45% compared to the same period in 2016. Duplex/rowhouses decreased slightly to an average of $340,740 – down 0.55% from the previous month but up 1.15% from 2016. “We continue to see stability in the all-residential average and median prices, and this stability has been primarily due to strong sales of single family homes, which are a staple of our marketplace,” explains James Mabey, Chair of the REALTORS® Association of Edmonton. Unit sales are down across almost all categories. Condo sales are down 8.17% month over month, and down 7.12% year over year. Duplex/rowhouses are down 10.06% month over month and down 5.30% year over year. Single family home sales increased in October by 3.69% and only decreased slightly compared to October 2016, down 0.59%. “Inventory is still higher than average, which has given buyers a larger selection and more time to make their choice,” Mabey said. “We will likely see average days on market grow as long as the inventory remains higher than last year.” All residential active inventory remains robust with 7,691 residential properties available in the Edmonton CMA at the end of October, down from September by 7.11% but still up over last October by 7.7%. Average days on market for all residential properties was 61 this month, up 5.17% over last month and unchanged from last year. Single family average days on market was up to 55, condominiums were averaging 67 days on market, and duplex/rowhouses took an average of 61 days to sell in October.

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