Edmonton residential real estate sales went from record highs last June, to record lows this June. Only 699 single family homes sold in Edmonton in June compared to 1092 last June. Sales of single family homes have stayed right in line with 2008 levels, as we’ve been predicting all year:
Condos followed a similar pattern, well behind last year but closer to 2005 and 2008 levels:
But what about prices? The average sale price for singe family homes was $22k higher this June than last June, and only dropped slightly from last month’s high of $400k to $397,413. As we saw earlier this week, the luxury market is quite strong and could be artificially raising the overall average. We’ll see what the median sale price is doing when the REALTORS® Association of Edmonton releases the final numbers next week. Condo prices dropped more significantly from last month ($246k) and last June ($244k) to $239,165.
On a price per square foot basis single family homes have remained fairly stable for a few months now at $271 in March, $269 in April, $271 in Mary and $269 in June. Price per square foot for condos has decreased slightly this spring at $236 in April, $235 in May and $232 in June.
One thing that’s certainly changed from last month is the list to sale price ratio – single family home sellers are not getting as close to their asking price as they were earlier this year.
As always we will have a follow up report when the final numbers are released by the REALTORS® Association of Edmonton. Happy Canada Day!
PS – Our second quarter report will be sent to subscribers next week (hopefully) don’t miss out, subscribe today!
One broken refrigerator away from default
http://www.metronews.ca/toronto/comment/article/568352–one-broken-refrigerator-away-from-default
Compared with the same month in June of last year, housing sales had their biggest drop in Calgary, plunging 40%, followed by Edmonton and Vancouver, which fell 35% and 29.5%, respectively.