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 9.7% compared to July 2016.
“It’s typical for unit sales to slow in July, which is shown in the year-over-year comparison,” says 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 in 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.
The all-residential average days-on-market was 53 days, holding steady from June 2017 and 3 days shorter than July 2016.