Edmonton Real Estate - Edmonton Homes for Sale - Norm Cholak RE/MAX River City
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Here are the latest month-to-date Edmonton Real Estate Market Statistics as of August 12, 2013.
Average Residential Sale Price: $353,760
Average Single Family Sale Price: $407,122
Average Condo Sale Price: $255,129
Average Duplex/Rowhouse Sale Price: $353,242
Total Sold Month to Date: 416
Average Days on Market: 47
For more information on how much your home is worth, call Norm at 780-991-1313.
Edmonton, August 2, 2013: Sales of residential properties are up in double digit increments in all categories when compared to last year, according to the REALTORS® Association of Edmonton. Total residential sales in July were up 24.9% year-over-year with 1,875 sales (1,736 reported). Sales figures are adjusted to account for unreported transactions at month end. Prices were also up year-over-year in all categories.
The average price for a single family detached (SFD) property in the Edmonton Census Metropolitan Area (CMA) in July was $410,372, down 0.5% from June but up 3.4% from a year ago. Condominium average prices dropped 7.4% m/m but were up 2.6% y/y at $242,516. Duplex/row house prices were up 8.6% y/y (down 2.8% m/m) at $330,906. The all-residential average price in the Edmonton CMA in July was $350,726 (down 2.5% m/m, up 3.3% y/y).
“These are the highest figures for July that we have seen since 2009,” said President Darrell Cook. “Prices and sales have peaked for the year and the month-over-month numbers are lower than June but when compared to last year our market is very robust. Although listings are up over the same time last year, our inventory has slipped by almost 250 units. Going forward, some buyers may have to consider compromises to find their new home in this market.”
The sales-to-listing ratio of 68% was the result of 2,543 residential listings and 1,736 residential sales in July. The total value of real estate sales through the Edmonton Multiple Listing Service® System in July was $814 million; up 18% from July 2012.
Environics Analytics, a Toronto-based data analytics firm, reported last week that the average net worth of an Edmontonian was $433,970 in 2012, up 1.6% from 2011 as compared to the Canadian average net worth of $400,151.
“Despite the rain and flooding in Alberta last month, the housing market has thrived,” said Cook. “Edmonton has jobs, housing options, and an economy that is attracting newcomers to the city and ensuring that current residents have an appealing lifestyle.”
The average days-on-market was down one from July 2012 at 49 days, which means that an average sale was completed in about a month and a half.
MLS® System Activity (for all-residential sales in Edmonton CMA1)
| July 2013 | M/M % Change | Y/Y % Change | |
| SFD2 average3 selling price – month | $410,372 | -0.50% | 3.40% |
| SFD median4 selling price – month | $385,000 | 1.30% | 5.90% |
| Condominium average selling price | $242,516 | -7.40% | 2.60% |
| Condominium median selling price | $225,000 | -7.20% | 2.30% |
| All-residential5 average selling price | $350,726 | -2.50% | 3.30% |
| All-residential median selling price | $335,000 | -1.00% | 3.10% |
| # residential listings this month | 2,543 | -6.20% | 5.70% |
| # residential sales this month | 1,736 | 1.90% | 15.70% |
| # residential inventory at month end | 5,834 | -4.00% | -6.60% |
| # Total6 MLS® System sales this month | 2,320 | 0.60% | 12.90% |
| $ Value Total residential sales this month | $704 million | -2.30% | 16.10% |
| $ Value of total MLS® System sales – month | $814 million | -3.20% | 16.60% |
| $ Value of total MLS® System sales – YTD | $5.01 billion | 2.18% | 4.20% |
Article courtesy of REALTORS© Association of Edmonton
Here are the latest month-to-date Edmonton Real Estate Market Statistics as of August 6, 2013.
Average Residential Sale Price: $353,455
Average Single Family Sale Price: $383,993
Average Condo Sale Price: $280,928
Average Duplex/Rowhouse Sale Price: $307,044
Total Sold Month to Date: 135
Average Days on Market: 48
For more information on how much your home is worth, call Norm at 780-991-1313.
Here are the latest Edmonton Real Estate Market Statistics as of July 29, 2013.
Average Residential Sale Price: $343,908
Average Single Family Sale Price: $398,614
Average Condo Sale Price: $244,854
Average Duplex/Rowhouse Sale Price: $322,793
Total Sold Month to Date: 1,703
Average Days on Market: 46
For more information on how much your home is worth, call Norm at 780-991-1313.
Here are the latest Edmonton Real Estate Market Statistics as of July 22, 2013.
Average Residential Sale Price: $341,229
Average Single Family Sale Price: $396,319
Average Condo Sale Price: $243,497
Average Duplex/Rowhouse buy ativan online Sale Price: $317,480
Total Sold Month to Date: 1,199
Average Days on Market: 45
For more information on how much your home is worth, call Norm at 780-991-1313.
In the Canadian Housing Market, Stable is the Word.
After three years of varied periods of growth and decline across the country, the Canadian housing market is starting to stabilize, according to the latest housing report released by Genworth Canada. While the economy continues to strengthen, modest growth in the housing market is the trend for the next five years.
The current condition is due in part to the tightening of regulations, but also continued warnings to consumers on their debt levels. Consumers appear to be heeding the advice and stabilizing their financial position before the Bank of Canada begins to raise its rate. The Spring 2013 Metropolitan Housing Outlook notes that healthy employment gains since the end of the recession have helped move mortgage payments in arrears and bankruptcies to a downward trend, except in British Columbia where payments in arrears have flattened after an upward trend from 2008 to 2010. Despite the low interest rates, price growth for both new and existing homes has been decelerating. The report also notes that while total mortgage approvals are falling, this decline is entirely fuelled by resale homes, as mortgage approvals for new homes increased by 3.4 per cent.
The Prairies are experiencing the strongest growth in home pricing, propelled by strong economic growth, rising employment and sustained residential demand.
Alberta saw the greatest population growth among the six regions, as well as housing starts surging to a post-recession high in 2012; housing starts are expected to continue to grow through 2013 and 2014.
Source Genworth Canada.
Here are the latest Edmonton Real Estate Market Statistics as of July 15, 2013.
Average Residential Sale Price: $337,318
Average Single Family Sale Price: $396,210
Average Condo Sale Price: $238,197
Average Duplex/Rowhouse Sale Price: $315,873
Total Sold Month to Date: 733
Average Days on Market: 48
For more information on how much your home is worth, call Norm at 780-991-1313.
Here are the latest Edmonton Real Estate Market Statistics as of July 9, 2013.
Average Residential Sale Price: $338,029
Average Single Family Sale Price: $397,319
Average Condo Sale Price: $240,771
Average Duplex/Rowhouse Sale Price: $311,223
Total Sold Month to Date: 347
Average Days on Market: 45
For more information on how much your home is worth, call Norm at 780-991-1313.
Here are the latest Edmonton Real Estate Market Statistics as of June 31, 2013.
Average Residential Sale Price: $369,792
Average Single Family Sale Price: $412,273
Average Condo Sale Price: $267,185
Average Duplex/Rowhouse Sale Price: $305,109
Total Sold Month to Date: 1,694
Average Days on Market: 43
For more information on how much your home is worth, call Norm at 780-991-1313.
Here are the latest Edmonton Real Estate Market Statistics as of June 24, 2013.
Average Residential Sale Price: $357,322
Average Single Family Sale Price: $403,230
Average Condo Sale Price: $262,689
Average Duplex/Rowhouse Sale Price: $331,754
Total Sold Month to Date: 1,470
Average Days on Market: 46
For more information on how much your home is worth, call Norm at 780-991-1313.
