Real Estate Sales Surpass Previous 6 Years in July
According to a report released by the REALTORS® Association of Edmonton yesterday, residential real estate sales last month totalled 2013 sales in July, up 9.7% over last July. In fact, they were ahead of the past 6 July’s in the Greater Edmonton Area. As we reported last week, there was a large increase in condo sales in July, which obviously had an impact on the overall residential total.
The demand for real estate remains strong and in line with other market fundamentals,” said Greg Steele, Association President.
The average residential price in the Greater Edmonton Area was $362,091 in July, up 3.2% from the same time last year. The median sale price was $345,000 in July, up 3% from last July.
The end of month inventory sat at 5,609 listings in July, down 3.9% from last July. Despite there an increase in listings, inventory has remained lower than previous years, because sales have been so strong.
There were 2,718 new listings in the greater Edmonton area in July, up 6.9% from last year.
All in all the market is behaving as you’d expect at this time of year; sales and prices are declining on a month over month basis, but remain ahead of the past few years. With the economic conditions in the capital region as they are, this trend will likely continue.
About Sara MacLennan
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.