Local housing sales and inventory up in stable market – Feb 2014
Wednesday, February 5th, 2014
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 | $328 million | 12.90% | -6.50% |
| $ Total value MLS® System sales – month | $392 million | 11.20% | -3.80% |
| $ Total value MLS® System sales – YTD | $392 million | 11.20% | -3.80% |
