October 2018 – Edmonton Real Estate Market Statistics

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October 2018-Real Estate Market Statistics

October 2018 -Real Estate Market Statistics

*Stats as of September 30, 2018

2,000 LESS LISTINGS THAN TWO MONTHS AGO! Finally,a market absorption rate that isn’t so traumatizing for sellers.  We were sitting at a 16% chance of selling with…

We were sitting at a 16% chance of selling with 6014 months of inventory on the market.  The great news is, listings are coming off the market now that kids are back in school.  Most folks want to move and be settled before the school year and here are the effects of the consumer experience.  Sellers have a much better shot at selling now than they have had all summer.  Read more to find out exactly where we are sitting now.

The Edmonton Residential Real Estate average is sitting at a lovely $373,958.

Increased year over year by 0.94% and up 2.48% from last month.

Residential single family dwellings with an average selling price of $431,745 have increased 0.25% from last year and increased 2.94% from last month.

Condo dwellings, continuing on a downward trend, and it has been a very long downward trend, dropping 4.28% from last year to $240,953 and decreased 1.53% from last month.

Rowhouses and Duplexes are sitting at an average of $345,133 up 0.68% from last year and up 4.38% from last month.

Highest Edmonton Sales for September of 2018?

Single Family – $3,250,000
Condos – $1,165,000
Duplex/Rowhouse – $990,000

Average days on market?

Single Family: 61 Days, up 8 from last year
Condos: 75 Days, up 13 from last year
Duplex/Rowhouse: 66 Days, up 5 from last year.

New Listings on market?

2,519 new listings for a total of 8,969 listings on market, an increase year over year of 7.35% and 1.53% less than last month.

How many Sales in September 2018?

1,225 sales – which shows 7.32 Months of inventory on market, definitely a buyers market. This stat is also known as Market Absorption Rate.  You have a 14% chance of selling your home in todays’ market.

Total Sales for 2018?

12,614 Year to Date Sales, for a year over year decrease of 3.17%

Price your homes right. It still matters and your first 10 days on market is the most important time to your sale.  Don’t chance chasing the market in a downwards trend.