Keith Madsen's Home Trends
K EITH M ADSEN
All Residential Average Prices Stable, Unit Sales Decrease Edmonton, October 3, 2018 - In the Edmonton Census Metropolitan Area (CMA), the all residential average prices increased 0.94% to $373,958 compared to September 2017. Single family home average prices increased 0.25%, duplex/rowhouse average prices increased 0.68% while condominium average prices decreased 4.28% year over year. Unit sales are down across all categories. Single family home sales decreased 2.22% relative to September 2017, condominium sales decreased 19.09% and duplex/rowhouse sales declined 21.52%. Overall, all residential unit sales showed an 8.53% decrease year over year. Average days on market increased for all categories. 61 days for single family homes, 75 days for condominiums and 66 days for duplex/rowhouses. “Stable prices coupled with decreasing sales and increasing days on market indicates sellers are most likely staying firm on their prices and choosing to wait longer to get the price they feel is best for their properties,” says REALTORS® Association of Edmonton Chair Darcy Torhjelm. “As we move further into our final quarter, we will likely continue to see sales decreasing as is typical for this time of year.” ~ 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. DOWN 4.28% (YOY) Average DOM* 65 Sales to Listing Ratio 49% Average Price SFD* $431,745 UP 0.25% (YOY) Average Price Condo $240,953
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