Sales of single family homes in Edmonton began their annual decline in June; 922 single family homes sold through the MLS® system, up from 835 last year and down from 1039 last month.
Edmonton single family home sales
As we predicted, condo sales were strong in June - 489 condos sold up from 420 last year and 406 last month. As prices rise, condo sales also tend to increase as single family homes become less affordable.
Edmonton condo sales
The average price of single family homes was $406,275 in June, up from $384k last year and $401k last month. That is the highest average price since October, 2007. The median sale price was $368,400, up from $355k last year and down from $371k last month. The average sale price for condos was $243,900, the same as last month and up from $225k last year. The median sale price for condos was $230k, the same as last month and up from $212k last year. An increase in luxury sales of both condos and single family homes partially explains the increase in average prices - there were 17 sales over $1million in June while there were only 3 last June.
Edmonton real estate prices
The average price per square foot was on the rise in June - single family homes were up $3/square foot from last month and $7 from last year to $268/square foot. Condo were up $6 from last month and $10 from last year to $235/square foot.
Edmonton price/square foot
As always this is our preliminary report on the Edmonton real estate market, our final monthly report on the greater Edmonton area will be posted when the numbers are released by the REALTORS® Association of Edmonton.
About Sara MacLennan
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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All sign are pointing up for the Edmonton Condo industry. With Calgary absolutely booming in their real estate market, Edmonton is also poised to continue with strong growth in their market in 2012.
@ Louis
I´m not sure if that is true. Maybe the prices are still increasing (in comparison with Toronto and Vancouver) but they do it in more gentle way and I haven´t noticed anything crazy in the last data released by MSL.
I recommend you to check for example Most Risky Real Estate Market in Canada? ,because this is currently the most risky market and there is still no decrease in prices (only in sales). This for sure is not threatening Alberta right now, but whoever knows what will come in the next few years.
is there anyway to provide a more detailed breakdown of the monthly sales into regions or neighborhoods?
Yes, that is the kind of thing we do for our clients. Is there something you’re looking for?
I am more interested in finding out where most of the growth in Edmonton is occurring. My guess is most new home sales are occurring around Henday. Condo sales are going up but my guess is a lot of those condos that are being sole are located either downtown or near an LRT station. Just looking to confirm my suspicions.
An increase in condo prices are good news for real estate investors looking to invest in Edmonton. As Don Campbell reported, 2013 will be a hot market for Edmonton condos!
I cant believe i was quoted in the same article as campbell (my outlook is far more conservative) and turner (my outlook looks extremely robust compared to him). I do wonder though if i was wrong as often as mr turner would the press still contact us.
This seems like an appropriate time to link to this little gem:
link to edmontonrealestateblog.com
To this day, I remember this article because of the shockingly incorrect comments you made in it, arguing real estate as a supposedly safer invesment than stocks, simply due to the listing requirements imposed by stock exchanges, as opposed to assets that change hands outside centralized exchanges, such as real estate.
I’ll leave the comparison of your comments regarding the end of the 40-year am and the recent rule changes to you.
And just FYI, if you’re ever long a stock that is delisted from any exchange, I will happily by your entire position from you for $1
I was basically rt on everything there. Media over reacted to the changes. Sales were up by maybe 300 sales in october over september. Stocks can be delisted and many were in oct 2008 and march 2009. Its more likely you will need me to buy out your delisted stocks but dont worry ill let you hang on to them so you can make a paper roof to keep the rain and snow out. However you miss the real point and that is that not everyone treats their home solely as an investment.
Priceless.
Sheldon, please allow me to clarify my point regarding your very unique take on exchange listing rules (assuming you are not purposely being obtuse):
link to mcclatchey.files.wordpress.com
Cheers mate.