Our preliminary report on the real estate market in Edmonton in August shows prices are rising while sales are on the decline. When this occurs, we typically see prices levelling off within a month or two, followed by year over year price declines before the cycle starts again. 706 single family homes sold through the MLS® system in Edmonton in August, down from 716 last August and 831 last month.
358 condos sold in August down from 398 last year and 412 last month.
The average price of single family homes increased in August to $393,898 from $381k last year and $389k last month while the median sale price increased to $358k from $354k last year and $356k last month. The average price of condos also rose to $244,499 from $237k last year and $242k last month and the median price rose to $223k from $220k last year and $215k last month.
The average price per square foot of single family homes was $264, up from $257 last year but down from $267 last month. The average price per square foot for condos was $232 – equal to last month and up from $228 last year.
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.