Real Estate Update from ARET
Month Over Month Unit sales Volumes Continue to Increase Edmonton, June 4, 2018 - In the Edmonton Census Metropolitan Area (CMA) in May 2018, there were 1,776 MLS® System listed properties sold, which is an increase of 14.21% compared to April 2018 and a decrease of 3.64% compared to May 2017. The all residential average selling price was $377,139, down 0.54% relative to May 2017. The average price of a single family home was $442,348, an increase 0.40% year over year. Condominium average prices decreased 3.86% relative to May 2017. Duplex/rowhouse average prices increased 0.77% year over year. “Prices and unit sales in the Edmonton CMA market remain stable. This is good news for sellers who have been concerned about selling their properties before the summer months in a ‘buyer’s market’,” says REALTORS® Association of Edmonton Chair Darcy Torhjelm. “Buyers continue to have a great selection of properties to choose from, which means sellers need to be competitive with their listings.” Inventory also increased in May, up 16.03% compared to May 2017. New listings increased 12.82% year over year. The average days on market for all residential properties decreased to 53 days. ~ Source REALTORS® Association of Edmonton Read the Full Market Analysis Call if you’d like to find out more about your home and neighbourhood.
*SFD = Single Family Dwelling *DOM = Days on Market Source: REALTORS ® Association of Edmonton Market values stated are of the average of Edmonton and surrounding region. Individual home market values will vary and are affected by factors such as location, size, interior and exterior condition. Please call to get an up-to- date evaluation of your home. Average Price SFD* $442,348 UP 0.40% (YOY) Average Price Condo $241,571 DOWN 3.86% (YOY) Average DOM 53 Sales to Listing Ratio 43%
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