We've reached the mid-way point for 2014, everything tends to slow down from here on out in terms of the real estate market in Edmonton. The REALTORS® Association of Edmonton has released their monthly reported on the real estate market in the Greater Edmonton Area, here are our findings based on their release.
There were more residential sales in June in the Greater Edmonton area than in any of the past four Junes. Residential sales were up 9.8% over last June; there were 2,079* sales in the Greater Edmonton Area in June. We reported earlier this week that the market had peaked in June, based on single family home sales in Edmonton only, but it appears the peak for the overall market was in May.
The average residential sale price was $371,839 in June, up 3.9% from last June. The median sale price was $359,000 up 6% from last June.
There were 5,704 listings on the market at the end of June, down 6.2% from last year. Strong sales have kept the inventory in check all year.
There were 2,963 new listings in June, up 9.3% from last June.
*We adjust the residential sales total for the current month to account for unreported sales. Every month 6% of sales on average are not reported to the Association in time for the monthly report. The following month the numbers are updated to reflect the total sales during the previous month. That means the current month always looks worse compared to previous month.