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 are consistent with seasonal market trends,” says 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, 1 day shorter than in March 2018 but 2 days longer compared to April 2017. For single family homes, the average days on market was 66. For duplex/rowhouses, the average days on market was 59. “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 Chair.