Latest Real Estate Statistics

 
 
Edmonton Market Report for December 2018
 
All Residential Sales and Prices Decrease, Inventory Up
 
 
In the Edmonton Census Metropolitan Area (CMA), the all residential unit sales decreased 9.78% month over month and decreased 10.56% year over year. Single family home unit sales are down 9.22% compared to October 2018 and down 5.66% relative to November 2017. Condominium unit sales decreased 15.86% month over month and 19.5% year over year. Month over month duplex/rowhouse unit sales increased 14.14%, and decreased 6.61% year over year. Month over month declines are typical in late Fall.

New listings and active inventory are down compared to October 2018. Listings decreased 15.38% and inventory decreased 2.00% month over month. When compared to November 2017, both categories were up. New listings increased 9.97% and inventory increased 9.86% year over year.

“Compared to 2017, listings and inventory are increasing, which means there is plenty for buyers to choose from this year,” says REALTORS® Association of Edmonton Chair Darcy Torhjelm. “As we close out the year, average prices are decreasing slightly, likely due to the slower winter sales season and higher inventory levels, so sellers will need to be patient and flexible when it comes time to negotiate.”

Average prices declined in the month of November. The average selling price of a single family home is $421,715, a decrease of 0.97% month over month and a decrease of 4.55% year over year. Condominium average prices also decreased 1.29% month over month and 6.07% year over year. Duplex/rowhouses average prices increased 4.11% compared to October 2018, and decreased 3.36% relative to November 2017.

The average days on market for single family homes increased to 66 days, increasing by four days compared to October 2018 and seven days compared to November 2017. Condominiums sold on average in 80 days, eight days longer compared to October 2018 and four days longer relative to November 2017. Average days on market for duplex/rowhouses increased to 71, growing from 66 in October 2018 and 59 days in November 2017.
 
 
 
 
 
Modern Windermere Condo $289,999
 
 
Close to Mill Creek Ravine $438,000
 
 
 
 
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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 2018 by the REALTORS® Association of Edmonton. All Rights Reserved.
Data is deemed reliable but is not guaranteed accurate by the REALTORS® Association of Edmonton.