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Market Statistics Update – June 2020

Posted by paulblais on July 3, 2020
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Edmonton, July 3, 2020: Total residential unit sales in the Edmonton Census Metropolitan Area (CMA) real estate market for June 2020 increased 13.69% compared to June 2019 and increased 77.27% from May 2020. The number of new residential listings is up year over year, increasing 16.57% from June 2019. New residential listings are up month over month, increasing 20.22% from May 2020. Overall inventory in the Edmonton CMA fell 15.91% from June of last year but increased 2.54% from May 2020.

For the month of June, single family home unit sales are up 11.16% from June 2019 and up 71.26% from May 2020. Condo unit sales increased 11.03% from June 2019 and increased 116.36.% from May 2020.

All residential average prices are down to $360,179, a 1.54% decrease from June 2019, and up 1.76% from May 2020. Single family homes sold for an average of $423,184, a 0.20% year-over-year decrease from June 2019, and a 2.63% increase from May 2020. Condominiums sold for an average of $219,832, a 7.57% decrease year-over-year, and prices are up 7.57% compared to May 2020. Duplex prices dropped 2.49% from June 2019, selling at $329,377, which was a 1.27% increase from May 2020.

“The Edmonton market prices have declined in June and we saw a slight decrease in year-over-year unit sales,” says REALTORS® Association of Edmonton Chair Jennifer Lucas. “Of course, with the outbreak of a global pandemic and a hard hit to Alberta’s oil and gas sector, this type of market slowing is not surprising. There have been less sales of single-family homes, condos and duplexes than in June of last year. Single family home pricing decreased 0.20%, duplexes are down 2.49%, and condos are down 7.57% year-over-year.”

Single family homes averaged 54 days on the market, a one-day increase from last year. Condos remained stable at 66 days on the market while duplexes averaged 64 days on market, a two-day decrease compared to June 2019. Overall, all residential listings averaged 59 days on market, the same year-over-year, and decreased by seven days compared to the previous month.

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