Residential sales in Edmonton’s Census Metropolitan Area (CMA) are beginning to pick up with 1,597 in April 2015. That is up 10% from 1,453 in March but still down 13% from April 2014. Reported reported sales are up for duplex/rowhouse – which are up this month over 24%. Single family sales were 1,001 – down 13% over last April (1,147 reported). Condos took the biggest hit down 20% over last year with 432 sold.
Despite a decline in all residential sales, the average sale price was $337,270 up 3% from April last year. Single family dwellings sold for an average of $438,641 (up 2% from last April), condos for $252,935 (up 0.2% y/y) and duplex/rowhouses were $356,022 (up 7.23% y/y).
The end of month residential active inventory was 6,784 for the Edmonton CMA. April residential new listings were up 11% from last year at 3,298. Average days on market were 44 compared to just 42 in April 2014.
April 2015
M/M % Change
Y/Y % Change
SFD2 average3 selling price – month
$438,641
-0.05%
2.39%
SFD median4 selling price – month
$410,000
-0.61%
2.24%
Condominium average selling price
$252,935
1.24%
0.21%
Condominium median selling price
$235,000
1.29%
0.00%
All-residential5 average selling price
$377,270
1.14%
3.13%
All-residential median selling price
$359,000
-0.28%
2.57%
# residential listings this month
3,298
4.63%
10.78%
# residential sales this month
1,597
9.91%
-13.02%
# residential inventory at month end
6,784
14.13%
38.17%
# Total6 MLS® System sales this month
2,082
12.18%
-21.14%
$ Value Total residential sales this month
$673 million
12.90%
-18.83%
$ Value of total MLS® System sales – month
$792 million
13.34%
-19.22%
$ Value of total MLS® System sales – YTD
$2.4 billion
53.48%
-14.55%
1 Census Metropolitan Area (Edmonton and surrounding municipalities)
2 Single Family Dwelling
3 The total value of sales in a category divided by the number of properties sold
4 The middle figure in a list of all sales prices
5 Residential includes SFD, condos and duplex/row houses.
6 Includes residential, rural and commercial sales
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The Edmonton area has been blessed with a beautiful fall and the local housing market has followed the weather trend. The fall months always tend to be a quieter market, but this year sales remained strong a little longer than usual. Edmonton Census Metropolitan Area (CMA) total residential average prices remain stable (up 8.5% over last year) thanks in part to an incline in sales of higher priced houses.
The seasonal slide is reflected in the dip in single family sales, down 12% from last month at 850 sold (918 adjusted). While still up almost 8% from last year, single family prices dipped down from $436,870 in September to $426,848 in October, a difference of 2.3%.
With an average price of $260,491, condos actually gained a bit of momentum going up 2.6% month-over-month and 9.75% year-over-year. Duplex/row house prices were also up month-over-month at $352,907.
In October, 2,049 residential properties were listed which is up 18.6% from last year. 1,412 were reported sold (1,525 adjusted) in the Edmonton CMA. Total days on market for all residential properties were down 3 days over October of 2013.
The demand for single family homes in the $350,000 to $400,000 remains high with 185 properties selling in this range in October. However, inventory is tight at the $350,000 to $400,000 mark with only 227 available properties available as of October 31. We have seen a lot of action this year in houses under $400,000. People may need to adjust their expectations when looking at houses in this range. There is a big demand for properties at this price point and with a light inventory, you may need to wait a bit longer to find the right house for you.
Another “hot” market is houses priced over a million dollars. We have seen this trend throughout 2014. Almost 2% of the single family dwellings sold last month were over a million dollars. Compare that to last October where less than one quarter of 1% of the sales were over a million. 125 million dollar plus homes have sold in 2014 compared to 94 at this same time last year and 75 in 2012.
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The city was founded in 1784[7] as a fortress during the Russian conquest of the Caucasus and was for many years the main Russian military base in the region.
The Georgian Military Highway, crossing the mountains, was constructed in 1799 to link the city with Georgia to the south, and in 1875 a railway was built to connect it to Rostov-on-Don andBaku in Azerbaijan. Vladikavkaz has become an important industrial center for the region, with smelting, refining, chemicals and manufacturing industries.
From 1931 to 1944 and from 1954 to 1990, its name in both Russian and Ossetic languages was Ordzhonikidze (Орджоники́дзе) (afterSergo Ordzhonikidze, a Georgian Bolshevik), and from 1944 to 1954 it was officially called Dzaudzhikau (Дзауджика́у) in Russian andDzæwdžyqæw (Дзæуджыхъæу) in Ossetic. Vladikavkaz resumed its old Russian name, in 1990, shortly before the dissolution of the Soviet Union; the official Ossetic name was reverted to Dzæwdžyqæw.
Vladikavkaz was fought over in both the Russian Civil War and World War II. In February 1919, the anti-Communist Volunteer Army under General Anton Denikin seized the city, before being expelled by the Red Army in March 1920. In November 1942, the forces of Nazi Germany tried unsuccessfully to seize the city but were repelled.
The Single Family Detached (SFD) average price in July was down 2% from June at $426,716 and the All Residential average price was off 2.6% from June at $362,091 in the Edmonton . Condo prices were stable month-over-month at $254,654 and duplex/rowhouse average prices rallied with a 5% lift to $360,309.
Residential sales were up year-over-year from 1,835 in July 2013 to 2,013 (up 9.7%) with SFD sales (1,179) up compared to the same month last year by 4.8%.
Condo sales of 639 units were up 15.4% and duplex/row house sales were up 27.7% compared to July 2013.
There is adequate supply with over 5,600 residential properties in inventory.
The average days-on-market was up slightly to 46 days in July as compared to 41 days in June. The sales-to-listing ratio was 69%: slower than the 75% last July.
If you are looking to buy or sell your property – call Irina Mierzewski – your english ukrainian russian speaking realtor in edmonton and she will be happy to answer all your questions and assist you in all your real estate needs! please read testimonials on her page and see what other clients are saying about her and her professional real estate expertise .
Highlights of MLS® System activity (for all-residential sales in Edmonton CMA1)
M/M % Change
Y/Y % Change
SFD2 average3 selling price – month
$426,716
-2.00%
3.90%
SFD median4 selling price – month
$396,000
-4.00%
3.10%
Condominium average selling price
$254,654
0.20%
4.60%
Condominium median selling price
$239,000
0.00%
6.20%
All-residential5 average selling price
$362,091
-2.60%
3.30%
All-residential median selling price
$345,000
-3.90%
3.00%
# residential listings this month
2,718
-8.10%
10.60%
# residential sales this month (reported)
1,864
-12.70%
1.60%
# residential inventory at month end
5,609
-1.70%
-3.90%
# Total6 MLS® System sales this month
2,570
-1.95%
4.10%
$ Total value MLS® System residential sales – month
The residential home inventory on the Edmonton Multiple Listing Service® (MLS® System) rose 16% in January. Typically just over 1,800 homes in the Edmonton come onto the market in January. Last month’s listings of 1,842 were higher than the 783 listed in December. Sales figures were higher than a typical January and higher than sales in December and January 2013. The increased inventory kept prices stable in all housing categories.
Compared to December, the all-residential average3 price of $347,847 was down just $1,226 or
-0.16%. Single family detached (SFD) home prices were down 1.5% at $416,344. Condominiums were priced on average3 at $230,463 (down 1.5%) and duplex/rowhouses showed the biggest movement and were down 5.3% at $336,220.
Price stability and more property available for sale results in a balanced market.Right now both buyers and sellers have time to consider all their options and housing needs. More homes are listed every day and Irina Mierzewski your russian speaking REALTOR® can advise you of a suitable property as soon as it comes available.
The residential sales-to-listing ratio was 45% and the average days-on-market was 61 days in January compared to 73 days in January 2013. There have been four property sales over a $1 million already this year but half of the SFDs sold in January were sold at or below $385,000.
Strong economic indicators such as low unemployment, higher hourly wages and positive in-migration all support an optimistic view of the Edmonton and area housing market. Consumers are confident in their economic future and prepared to risk a first-time or move-up purchase. Low rental vacancies and the potential for higher rental rates are also attracting investors into the market.
Irina Mierzewski – your russian/ukranian speaking REALTOR in Edmonton will be happy to answer all your questions and give her professional advise whether you sell or buy property in the near future.
January 2014
M/M % Change
Y/Y % Change
SFD2 average3 selling price – month
$416,344
-1.50%
4.60%
SFD median4 selling price – month
$385,000
0.20%
2.70%
Condominium average selling price
$230,463
-1.50%
6.70%
Condominium median selling price
$216,500
-1.10%
3.80%
All-residential5 average selling price
$347,847
-0.20%
6.70%
All-residential median selling price
$329,500
0.45%
4.60%
# residential listings this month
1,842
135.20%
4.20%
# residential sales this month (reported)
820
10.00%
-1.00%
# residential inventory at month end
3,537
16.00%
-5.50%
# Total6 MLS® System sales this month
1,095
14.70%
-11.90%
$ Total value MLS® System residential sales – month
Forecast for 2014: value of MLS® sales in 2014 will increase by about 3% for the year after sales of $8 billion in 2013. This is based on an overall increase in the number of homes sold and increased prices.
The sale of single family homes in Edmonton will be static, at about 10,500. The number of sales of condo, duplex and rowhouse sales will increase by 2.5% throughout the region as these properties become the de facto entry point for first time buyers.
Prices, as usual, will fluctuate through the year but the 12-month average price for a single family detached property is anticipated to increase about 3%. Condominium property average prices are projected to increase about 2% over the year.
Market growth is always good for the seller who can expect to see a capital gain on their property. But it is also reassuring for the buyer who can expect steady growth upon entering the market.
The all-residential average price for the first three quarters of the year in the Edmonton CMA is $350,741 as compared to $340,090 in 2012. In September, the all-residential average was $352,057, up 5.4% from a year ago and inching up from $351,455 in the previous month.
Year-over-year sales were also up 19.4% with 1,466 (adjusted, 1,357 actual) all-residential sales in September. There were 13,691 residential sales in the Edmonton CMA in the first three quarters of 2013 as compared to just 12,876 sales at the same time last year.
The market is very active with many properties attracting multiple offers.The increases in the Alberta population are driving the market and because of the steady sales there are inventory shortages at the lower price ranges.
There were 926 (adjusted, actual 857) single-family detached sales in September at an average price of $408,642 (up 3.9% Y/Y) as compared to 773 sales a year ago at an average price of $393,374. Condos sold on average in September for $243,655 (438 adjusted sales, 406 actual), up from $224,330 last September (up 8.6%). Duplex/row house sales were up with 79 (adjusted ,73 actual) sales, valued on average at $338,250 ($316,973 last year).
Average sales prices are the highest they have been in five years,Combined with the highest sales numbers since 2012, we have year-to-date residential sales values totaling $4.8 million. Strong market fundamentals, increasing population and the persistence of low mortgage rates have convinced many buyers that an investment in real estate is secure.
The September sales-to-listing ratio of 65% was the result of 2,089 residential listings and 1,357 residential sales. The inventory of available homes on the Edmonton MLS® System was down from 5,557 units in August to 5,111 units in September. It took 54 days on average (up one) to sell a home in the Edmonton area. Irina Mierzewski has access to all the latest market data and effective marketing tools and is the best source of real estate advice for both buyers and sellers.
MLS® System Activity (for all-residential sales in Edmonton CMA1)
September 2013
M/M % Change
Y/Y % Change
SFD2 average3 selling price – month
$408,642
-1.90%
3.90%
SFD median4 selling price – month
$380,000
0.00%
3.50%
Condominium average selling price
$243,655
-0.40%
8.60%
Condominium median selling price
$226,000
-1.70%
3.80%
All-residential5 average selling price
$352,057
0.20%
5.40%
All-residential median selling price
$336,000
1.80%
5.30%
# residential listings this month
2,089
-9.10%
1.70%
# residential sales this month (actual)
1,357
-8.90%
10.50%
# residential inventory at month end
5,111
-8.00%
-9.80%
# Total6 MLS® System sales this month
1,882
-5.60%
9.42%
$ Value Total residential sales this month
$562 million
-6.50%
14.83%
$ Value of total MLS® System sales – month
$657 million
-7.80%
14.30%
$ Value of total MLS® System sales – YTD
$6.463 billion
11.90%
7.71%
1 Census Metropolitan Area (Edmonton and municipalities in the four surrounding counties)
2 Single Family Dwelling
3 Average: The total value of sales in a category divided by the number of properties sold
4 Median: The middle figure in an ordered list of all sales prices
5 Residential includes SFD, condos and duplex/row houses
6 Includes residential, rural and commercial sales
3 Average prices indicate market trends only. They do not reflect actual changes for a particular property, which may vary from house to house and area to area. Prior period sales figures have been adjusted to include late reported sales and cancellations and therefore reflect a more accurate view of the period than previously reported at month end. The RAE trading area includes communities beyond the CMA (Census Metropolitan Area) and therefore average and median prices may include sold properties outside the CMA. For information on a specific area, contact Irina Mierzewski – your local REALTOR®
The data included on this website is deemed to be reliable, but is not guaranteed to be accurate by the REALTORS® Association of Edmonton. The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license.