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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Year-over-year prices remain stable..... Decline in unit volumes typical of mid-summer market

by qdeanj 4. August 2017 11:45
Edmonton, August 2, 2017: In the Edmonton Census Metropolitan Area (CMA), all-residential unit average prices for July 2017 are down 2.44% compared to June 2017, but only down 0.11% relative to July 2016. Average sale prices for single family homes decreased both month-over-month and year-over-year, decreasing to $446,892, down 1.51% compared to June 2017 and down 0.44% relative to July 2016. Average prices for duplexes/rowhouses and condominiums were stable in June. Average prices for condominiums rose in July 2017 to $261,861. This represents a 0.68% increase compared to June 2017, and a 2.18% increase compared to July 2016. Duplexes and rowhouses average price decreased to $343,883. This represents a 1.87% decrease from June 2017, and a 2.48% decrease from July 2016. The number of all residential units reported sold was 1,622. Although this represents a month-over-month decrease of 13.12%, it also reflects a year-over-year increase of 0.37%. Single family unit sales were 1,003 units, representing a decrease of 15.86% compared to June 2017 and an increase of 0.60% compared to July 2016. Reported condominium sales were 415, which is down 9.98% month-over-month and down 3.04% year-over-year. There were 181 duplex/rowhouse unit sales in July 2017, which is down 41.04% compared to June 2017 but is up 9.70 compared to July 2016. “It’s typical for unit sales to slow in July, which is shown in the year-over-year comparison,” says James Mabey, REALTORS® Association of Edmonton Chair. “Inventory is still strong for buyers, and marginal adjustments in year-over-year prices indicate a stable market for sellers.” In July, inventory was 8,756, which was an increase of 2.04% compared to June 2017, and an increase of 10.70% compared to July 2016. Total new residential listings in June were 3,114, down 9.13% from June 2017 and up 8.43% from June 2016. “Sellers must remain patient but mindful of their positioning in the market with many options for buyers to consider, so consulting with their REALTOR® to remain competitive is essential,” says Mabey. The all-residential average days-on-market was 53 days, holding steady from June 2017 and three days shorter than July 2016. On average, single family detached homes sold in 48 days, condominiums sold in an average 60 days and duplex/rowhouses sold in 55 days.

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Edmonton Real Estate- Stable residential prices not affected by slower sales

by qdeanj 5. October 2016 09:22
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. “We expect to see listings and sales slow as winter approaches. We may begin to see the effects of slight downward pressure on prices, but do not expect to see any drastic movement as our market continues to remain stable,” said Sedgwick. “Sellers can expect to wait a little longer than previous years for their property to sell.” The number of days the average residence in the Edmonton CMA took to sell in the month of September was 57. This is up two days from August 2016 and up three days from September 2015. On average, single family detached homes sold in 54 days in September, while condominiums sold in an average of 65 days and duplex/rowhouses sold in 60 days. There were 7,857 residential properties available in the Edmonton CMA at the end of September, down less than 1% from 7,908 in August 2016, but up 10.54% from the 7,108 properties available on the MLS® System at the end of September 2015.

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Edmonton Area Sales activity slows in June while prices stay level

by qdeanj 11. July 2016 10:41
Edmonton, July 5, 2016: The number of residential units reported sold in the Edmonton Census Metropolitan Area (CMA) were flat month-over-month but down 11.1% year-over-year for June. There were 1,117 single family sales reported in June 2016. That number is down 10.1% from June 2015, but on par with the 1,119 reported sales in May. Reported condo sales at 465 were up 11.5% month over month and down 18.7% from the previous year. Duplex/rowhouse sales at 173 are up 9.8% from last year but down 14.8% from May. All residential average sale prices remained virtually the same as June of 2015, up only 0.1%. At $435,366, single family homes experienced a decline in average price of 1.1% from May and 1.8% from June last year. The average condo price was bolstered by the sale of several luxury properties. At $263,326, it was up 3.5% from May and 2.5% from last year. The average duplex/rowhouse sold for $352,7785 (up 4.6% y/y, up 0.7% m/m). “Although June’s residential unit sales are up slightly over May, we did not see the numbers set in June of 2015. Also notable is that the sustained lull in sales we have seen over the past two years has not been reflected in average price. Continued sales of higher priced properties in the region have helped keep average prices strong,” says REALTORS® Association of Edmonton Chair Steve Sedgwick. Total new residential listings in June were 3,041, down 6% from May and down 4.7% from the previous year. There were 8,179 residential properties available in the Edmonton CMA at the end of June. That is up from 7,177 in June of 2015 and 5,609 in June of 2014. “Inventory remains high and buyers continue to have good selection,” Sedgwick said. “This is welcome particularly to those looking in the popular $350,000 to $450,000 single family price range.” In June, the all residential average days-on-market was 53 days, down 1 day from May and up 4 days relative to June 2015. On average, single family detached homes sold in 50 days in June, while condominiums sold in an average of 58 days and duplex/rowhouses sold in 53 days.

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“Relative to other markets in Alberta, Edmonton’s resale housing market is solid.”

by qdeanj 9. June 2016 13:22
Single family home sales are on the rise Edmonton, June 2, 2016: Unit sales for single family detached homes were up 19.3% from April and up 3.8% year-over-year, with 1,119 selling in May across the Edmonton Census Metropolitan Area (CMA). Unit sales of duplexes and rowhouses increased 37.2% over April, and 23.03% over May 2015 with 203 units sold in the month. Condo sales were up 5.3% month-over-month, but down 18.2% year-over-year. All-residential sales at 1,771 were up more than 18% from April and down less than 1% compared to May of last year. “Consumer confidence amongst home buyers in Edmonton and surrounding areas remains strong and is reflected by increased unit sales in the single family detached and duplex/rowhouse categories,” REALTORS® Association of Edmonton Chair Steve Sedgwick said. “Relative to other markets in Alberta, Edmonton’s resale housing market is solid.” Total new listings were down less than 1% relative to last month and 2.5% compared to May 2015, with 3,233 new properties coming onto the market in May. The sales-to-listing ratio for single family detached homes was 61% for May 2016, up 10% from April and on par with May 2015. The sales-to-listing ratio for duplex/rowhouses was 73%, down 13% from May 2015 but up 22% from last month. Condo properties are entering a buyer’s market, with a 40% sales-to-listing ratio, up 2% from last month, but down 13% from last year. The average single family detached home in the Edmonton CMA sold for $440,573 in May, virtually on par with April’s average price of $439,982, but down almost 3% compared to the average price of $453,748 in May 2015. Average condo prices at $254,555 are up over 1% month-over-month, and almost flat to last year. Duplex/rowhouse average prices increased compared to both the previous month and May 2015, up 3% and 1.5% respectively. “While new listings coming onto the market were down this May compared to 2015, inventory continues to remain strong with more than 8,000 residential properties on the market at month’s end,” Sedgwick said. “The fact that we haven’t seen a significant decline in prices is giving buyers more assurance. They are making purchases based on market stability and good selection.” In May, the all residential average days-on-market was 54 days, up 14 days from April and up 8 days relative to May 2015. On average, single family detached homes sold in 51 days in May, while condominiums and duplex/rowhouses sold in an average of 59 days.

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Edmonton Real Estate Update for April 2016

by qdeanj 9. May 2016 12:07
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. The average single family home in the Edmonton CMA sold for $439,982 in April 2016, up marginally over March’s average price of $439,815 and April 2015’s average price of $438,641. Listings and sales unit volumes were down for single family detached homes year-over-year, but up over the previous month. Condo prices are down less than 1%, likely due to the lower unit sales relative to April 2015. Prices for April 2016 are also down about 1% relative to the previous month. Listings and sales of condominums are up over March 2016, while listings are up and sales are down over April 2015. “Prices in the Edmonton and Area market remain stable. This is good news for sellers who have been concerned about selling in a ‘buyer’s market’,” REALTORS® Association of Edmonton Chair Steve Sedgwick said. “Buyers continue to have a great selection of properties to choose from and sellers need to be competitive with their listings. Continued lack of significant movement in the average house price is a good signal that Edmonton’s economy is strong.” Single family homes had a 51% sales-to-listing ratio for April 2016, up 2% from March and down 3% year-over-year. Duplex/rowhouses sat at 51% as well, down 14% from 2015 but up 2% from the previous month. With a 38% sales-to-listing ratio (up 2% from last month, down 6% from last year) condos continue to be the most challenging type of property to sell. 1,498 residential properties were sold in the Edmonton CMA in April, up nearly 10% from the previous month, but down 6% from sales reported in April 2015. There were 938 single family detached homes reported sold in the Edmonton CMA, a 9% percent increase month-over-month, and down 6% from the same time last year. 396 condos sold in April, up 18% over March and down 8% over April 2015. 148 duplex/rowhouses sold in April, up 3% from March and up 7% from April 2015. “New listings were slightly down in April, but inventory remains high.” Sedgwick continues, “We expect to see sales continue to rise through the early summer months. It will be interesting to see whether there are many new listings adding to the existing inventory in upcoming months.” April’s all residential average days-on-market sat at 40 (7 days shorter than the previous year and 13 days shorter than March 2016). On average in April, single family homes sold in 35 days, condominiums sold in 46 days, and duplex/rowhouses sold in an average of 49 days.

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