Edmonton market update june 2 2015
Friday, June 5th, 2015The average days on market for single family last month was 43, condominiums were 49 days, and duplex/rowhouse took an average of 45 days to sell.
Residential sales in Edmonton’s Census Metropolitan Area are beginning to pick up with 1,784 reported sales in May 2015. That is up 12% from 1,597 reported in April but still down almost 10% from May 2014. Again this month, reported sales are down in all categories except duplex/rowhouse (up 4% y/y) – a trend we have seen all year. Single family sales were 1,078 – down 11% over last May (1,213 reported). Condo sales were down 10% over May 2015 at 510. Sales were up in all categories over April 2015. Year-to-date, residential sales are down 13%.
Despite a decline in all residential sales, the average sale price was $381,111 up 2.5% from May last year. Single family dwellings sold for an average of $451,312 (up 3% from last May), condos for $256,143 (up 2% y/y) and duplex/rowhouses were the only price drop at $345,659 (down 2% y/y).
The end of month residential active inventory was 7,303 for the Edmonton CMA. May 2015 all residential new listings were down 2% from last year at 3,314. That meant 5% less single family, 6% more condo, and 4% less duplex/rowhouse listings than in May last year.
| May 2015 | M/M % Change | Y/Y % Change | |
| SFD2 average3 selling price – month | $451,312 | 2.89% | 2.97% |
| SFD median4 selling price – month | $418,950 | 2.18% | 2.18% |
| Condominium average selling price | $256,143 | 1.27% | 1.77% |
| Condominium median selling price | $235,250 | 0.11% | 0.11% |
| All-residential5 average selling price | $381,111 | 1.02% | 2.48% |
| All-residential median selling price | $360,000 | 0.28% | 2.24% |
| # residential listings this month | 3,314 | 0.49% | -2.18% |
| # residential sales this month | 1,784 | 11.71% | -9.85% |
| # residential inventory at month end | 7,303 | 7.65% | 29.62% |
| # Total6 MLS® System sales this month | 2,306 | 10.76% | -13.86% |
| $ Value Total residential sales this month | $770 million | 14.30% | -24.04% |
| $ Value of total MLS® System sales – month | $874 million | 10.36% | -13.74% |
| $ Value of total MLS® System sales – YTD | $3.3 billion | 39.06% | -12.96% |
