Real Estate Market Typical in August, Albeit Slower than the Past Few Years
The single family home market in Edmonton is performing a bit better than the condo market, all things considered. With a high inventory of resale apartment condos competing with glitzy new downtown highrises, where many sales are not reported through the MLS® system (builders often sell directly), selling a condo in Edmonton can be a bit of a tough go in Edmonton at the moment. That said, sales are down compared to last year across the board, but right in the normal range for this time of year; sales of single family homes in Edmonton were down 4.6% in August (753 homes were reported sold).
363 condos sold in Edmonton in August, down 12% from last year.
The average price single family homes slightly down from last year (0.9%) to $431,336 and the median price was up 1.3% to $395,000. The condo average price was down 1.4% to $252,151 and the median price was down slightly (0.5%) to $235,000.
The average price per square foot for single family homes was down 1% to $282 and condos were down 2.8% to $243.
As always, this is our preliminary report on the Edmonton real estate market, our final report will be posted in a few days when the REALTORS® Association of Edmonton releases their monthly stats.
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.