Well this is a bit of surprise… Sales of single family homes and condos in Edmonton seriously rebounded in October. This seems to be an Edmonton-specific phenomenon as my look at the preliminary numbers for the greater Edmonton area was not nearly this rosy. So what the heck is going on? There were 720 sales of single family homes in Edmonton in October, up from 634 in September, and 611 last October. Particularly uncharacteristic for this time of year – there were more sales in October than there were in August. I suppose this month really just balances out a low August and September.
Condo sales also jumped in Edmonton in October – there were 365 sales which is up substantially from 255 last year and 312 last month.
The average sale price of single family homes was $379,520 up from $373k last year but down from $382k last month. The median sale price for single family homes was $350,000 up from $345k last year and down from $355k last month. Condo prices were up significantly in October. The average sale price for condos was $241,798, up from $228k last year and $230k last month. The median sale price for condos was $218k up from $205k last year and down slightly from $219k last month.
The average price per square foot was up in October – single family was $261/square foot (up from $253 last year and $258 last month) and condos were $224/square foot (up from $214 last year and $216 last month).
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.