MLS® Listings Down, Condo Prices Up Slightly
Edmonton, December 3, 2019: Total residential unit sales in the Edmonton Census Metropolitan Area (CMA) real estate market for the month of November 2019 are virtually unchanged compared to November 2018’s 1,334 sales and decreased 17.47% from October 2019. The number of new residential listings is down, dropping 12.59% from November 2018. Overall inventory in the Edmonton CMA fell 9.31% from November of last year.For the month of November, single family home unit sales are down 5.82% and condo unit sales increased 12.50% from the same period of time last year. All residential average prices are down slightly at $353,838, a 2.32% decrease from November 2018, and are virtually unchanged from October 2019. Single family homes sold for an average of $420,650, a 0.24% year-over-year increase from November 2018, and flat at a 0.07% decrease from October 2019. Condominiums sold for an average of $228,113, a 3.37% increase year-over-year, prices are similar to the previous month, up 0.14%. Duplex prices dropped 7.99% from November 2018, selling at $322,330, which was a 2.02% decrease from the previous month. “The Edmonton market prices remain stable with a decrease in year-over-year residential listings,” says REALTORS® Association of Edmonton Chair Michael Brodrick. “There are about 260 fewer listings than we had in November of last year, and single family home pricing increased 0.24%, duplexes are down 7.99%, and condos are up 3.37% year-over-year.”Single family homes averaged 64 days on the market, a two-day decrease from last year. Condos also spent two days less on the market, from 80 to 78 days, while duplexes averaged 64 days on market, a six day decrease from November 2018. Overall, all residential listings averaged 69 days on market, a 1.43% decrease year-over-year, and increased by four days from the previous month.