Record Setting Single Family Home Sales in Edmonton in April

In April, the real estate market in Edmonton was hot... very hot. In fact, we haven't seen so many single family homes change hands through the MLS® system since May, 2007.

Single Family Home Sales

1048 single family homes sold in Edmonton in April, up 15.9% from last April, and the most we've seen in the month of April since I've been keeping track (2005). And while there are many stories of multiple offers and homes selling for thousands over list price, the majority of listings are selling in the usual way, with conditions, inspections, appraisals and all the other steps that help buyers make good decisions. When the market peaked, back in 2007, we saw the average list to sale price ratio for single family homes soar over 99%, when it typically sits around 97%, today it sits at 98.3%.

SingleFamilyHomeSales
Edmonton Single Family Home Sales

Condo Sales

Condos also made a strong showing in Edmonton in April. 521 condos sold through the MLS® system in Edmonton, up 23.8% from last year, and the most we've seen since June, 2009. 

CondoSales
Edmonton Condo Sales

Edmonton Real Estate Prices

Prices were on the rise in April too. The average sale price for single family homes was $427,588, up 4.49% from last year. The median sale price for single family homes was $398,250, up 6.2% from last year.

There has been a lot of talk about luxury home sales bringing up the average sale price, so I'll looked into it a little further and found out luxury sales are pretty much normal for this time of year. There were 13 sales of homes over $1million last month, 10 last April, and 15 this month. In all of 2013 there were 103 sales of single family homes over $1million and so far this year there have been 41. I don't find any compelling evidence there that luxury sales are the reason for the increase in the average price.

Condos sold on average for $251,931 in Edmonton in April, up 3.35% from last year. The median sale price for condos was $234,500, up 2% from last year.

Average

Average Price/Square Foot

The average price per square foot for single family homes was $286 in April, up 4.76% from $273 last April. The average price for condos was $244 in April, up 3.8% from last year.

AveragePricePerSquareFoot
AveragePricePerSquareFoot

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 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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9 Responses to “Record Setting Single Family Home Sales in Edmonton in April”

  1. 123kidNo Gravatar 01. May, 2014 at 4:24 pm #

    awesome

  2. Karl hungusNo Gravatar 01. May, 2014 at 5:42 pm #

    That’s an interesting average price chart. For all the talk about how hot the market is, we still haven’t hit the peak of 2007. But I suspect we will by the time summer hits.

  3. FeatNo Gravatar 01. May, 2014 at 7:22 pm #

    The average prices reach peak range in Apr. or May every year, so if people expect to sell their houses with good prices, there’s only one-month-opportunity left.

    • ShawnNo Gravatar 01. May, 2014 at 11:04 pm #

      Learn to read a graph as you are just embarrassing yourself.

  4. wsnNo Gravatar 01. May, 2014 at 11:58 pm #

    Sara, if possible, could you please publish an inventory graph as well?
    Thanks!

  5. BOSSNo Gravatar 02. May, 2014 at 8:54 am #

    Fantastic news!

  6. FloydNo Gravatar 02. May, 2014 at 1:25 pm #

    I am not sure that I agree with your analysis that the sales of houses over $1 million are not influencing the average sale price. You state that there were 13 in March, 15 in April, vs. 10 last April, which may well be a significant increase. But from a proper statistics standpoint, the question is if the relative distribution of house values has changed, i.e. the curve shape is the same and has simply shifted to a higher mean, or if there are in fact a disproportionate number at the high end. Anyway, bottom line is still simple…Edmonton has a solid real estate market.

  7. 123kidNo Gravatar 02. May, 2014 at 3:18 pm #

    Can only eyeball the graphs… but the median price for stand alone homes has been rising along side average price… which gives your statements some credibility Floyd….

    But who cares… all that matters is the entire macro load is rising… Home owners start raising your prices on the truck load of buyers who have waited or are waiting on the sidelines….

    Time to PAY.

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  1. Edmonton Notes for 5/4/2014 - MasterMaq's Blog - 04. May, 2014

    […] single family homes were sold in April than any time since May 2007, according to the Edmonton Real Estate Blog. Average sale prices are up […]