Edmonton Market Report for February 2020

 
 
Edmonton Market Report for February 2020
 
 
MLS Sales Up and Listings Down to Open 2020
 
 
Total residential unit sales in the Edmonton Census Metropolitan
Area (CMA) real estate market for January 2020 increased 0.50% compared to January 2019 and
decreased 5.44% from December 2019. The number of new residential listings is down, decreasing
11.58% from January 2019. Overall inventory in the Edmonton CMA fell 11.76% from January of last
year.
 

For the month of January, single family home unit sales are up 2.52%, and condo unit sales
decreased 5.94% from the same period of time last year.
 

All residential average prices are up slightly at $351,002 a 3.85% increase from January 2019, and
are down 0.75% from December 2019. Single family homes sold for an average of $413,954, a
2.52% year-over-year increase from January 2019, and a 0.64% increase from December 2019.
Condominiums sold for an average of $204,355, a 5.94% decrease year-over-year, and prices are
down 9.95% compared to December 2019. Duplex prices rose 5.21% from January 2019, selling at
$338,815, which was a 4.23% increase from the previous month.
 

“The Edmonton market prices remained stable this month while we saw an decrease in year-overyear
residential listings and sales,” says REALTORS® Association of Edmonton Chair Jennifer
Lucas. “There have been slightly more sales than in January of last year, and single family home
pricing increased 2.52%, duplexes are up 5.21%, and condos are down 5.94% year-over-year.”
 

Single family homes averaged 73 days on the market, a five-day decrease from last year. Condos
saw a ten-day decrease at 83 days on the market while duplexes averaged 85 days on market, a
five-day decrease from January 2019. Overall, all residential listings averaged 79 days on market, a
5.95% decrease year-over-year, and increased by ten days compared to the previous month.
 
 
 
 
 
Walk Out Bungalow $775,000
 
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Affordable Pristine Condo $125,000
 
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Foreclosed Bungalow $180,000
 
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Bungalow in Colonial Estates $390,000
 
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Walkout Bungalow $490,000
 
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Large Family Home with Huge Potential $360,000
 
SEE MORE DETAILS
 
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Today’s Bank of Canada rate hold announcement marks almost four straight years that the key benchmark rate has remained unchanged, since September 8, 2010. Great news if you have a variable-rate mortgage or home equity line of credit; the prime rate stays at 3%.

 

The announcement noted that “the risks to the outlook for inflation remain roughly balanced, while the risks associated with household imbalances have not diminished.” With these considerations, the Bank is maintaining its monetary policy stimulus, and remains neutral with respect to the timing and direction of the next change.

 

The next rate-setting day is October 22nd.

Copyright 2020 by the REALTORS® Association of Edmonton. All Rights Reserved.
Data is deemed reliable but is not guaranteed accurate by the REALTORS® Association of Edmonton.