The REALTORS® Association of Edmonton released their monthly report on the Greater Edmonton area real estate market today showing stats are up in all categories on a year over year basis. Sales in the region were up nearly 25% - there were 1875 sales in July, compared to 1502 last year and 1897 last month.
“These are the highest figures for July that we have seen since 2009,” said Association President Darrell Cook. “Edmonton has jobs, housing options, and an economy that is attracting newcomers to the city and ensuring that current residents have an appealing lifestyle.”
The overall average residential sale price was $350,726 in July, up 3.3% from last July ($339k). The median sale price was $335,000, up from $325,000 last year.
There were 5,834 homes available on the market at the end of July, down from 6,248 last year.
There were 2543 new listings in July, up from 2411 last year. Even with the increase in the number of new listings, the inventory dropped in July and remained below the levels we've seen for the past few years.