Edmonton real estate market normal in November

Residental MLS® sales were right where we expected them to be in November - about average for this time of year. There were 1149* residential sales in Edmonton:

Nov2011EdmSFSales
Edmonton real estate sales

The average MLS® sale price was $321,135 in November, compared to $319,479 last year and $319,985 last month. The median sale price was $310,000 compared to $308,000 last year and $313,000 last month:

Nov2011MLSavg
Edmonton real estate prices
 

The inventory followed to normal seasonal pattern, falling to 6,588 in November:


Nov2011MLSinventory
Edmonton homes for sale


The number of new listings was also normal in November at 1800:

Nov2011MLSlistings

*We adjust the residential sales total for the current month to account for unreported sales. Every month 6% of sales on average are not reported to the Association in time for the monthly report. The following month the numbers are updated to reflect the total sales during the previous month. That means the current month always looks worse compared to previous months. For example, in October 2011 the reported sales totalled 1170 which we adjusted to 1240 for comparison purposes. This month the final number for October sales was 1253 - much closer to my adjustment than what was reported at the time.

About 

Sara MacLennan is the Director of Marketing at Liv Real Estate and a licensed Real Estate Associate. The bulk of Sara’s experience and wealth of expertise lies in on-line technology and marketing both for agents and consumers. Sara is the former National Director for Interactive Marketing for Coldwell Banker Canada where she was responsible for an extensive training program traveling to offices across the country training agents and brokers on marketing and technology. Find Sara on Twitter @edmontonblogger.

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7 Responses to “Edmonton real estate market normal in November”

  1. TJNo Gravatar 08. Dec, 2011 at 2:16 pm #

    Edmonton, one of the lesser evils out there as far as real estate.

    link to money.ca.msn.com

  2. A commong guyNo Gravatar 08. Dec, 2011 at 4:11 pm #

    I have said this earlier and say it again: unlike many who predict dooms days here I expect the prices to go up in Edmonton. This is what’s happening in Calgary and typically it won’t take long for Edmonton to follow.
    Also this:
    link to cbc.ca

    Where do you think all those people moving to AB are going to live?

    • House HunterNo Gravatar 08. Dec, 2011 at 4:38 pm #

      Edson and Cochrane

      • Average JoeNo Gravatar 08. Dec, 2011 at 10:21 pm #

        Conklin, Anzac and Cheecham.

    • Edmonton ExpatNo Gravatar 09. Dec, 2011 at 4:23 am #

      Prices need to stay put for a while, then rise at inflation rates.

      • JasonNo Gravatar 09. Dec, 2011 at 8:22 am #

        Agreed. Maybe there should be a moratorium on new condo development?

        • SQUIDLY IS GONENo Gravatar 09. Dec, 2011 at 9:52 am #

          Well CMHC predict that new homes being built will stoop lower next year so that’s added demand for lack of new construction, right?
          But maybe it’s driven by that same demand that will be lower, so no resale prices gains.