February 2019 – Edmonton Real Estate Market Statistics

We are in an EXTREME Buyers Market here in the Edmonton Area.  A Month to Month decrease in sales of 6% and year to year decrease of 6% as well… Depending on whom you go to for your statistics and prediction about the economy and the housing market, one thing is for certain, ALL of Canada has cooled.  Sales haven’t been this slow in Calgary since 1996.  Sales haven’t been this slow in Toronto or Edmonton in the last 10 years.  Some are calling for rate increases two or three times this year, and others, whom I agree with, predict an increase if any in the last quarter.

Duplexes, Condos, Townhouses have all taken a hit, and we are going to start to see single family dwellings take the same course – downward.

February 2019 - Edmonton Real Estate Market Statistics

February 2019 – Edmonton Real Estate Market Statistics

Stats as of January 31, 2018

So BUYERS – it is a great time to buy, sellers need you.

SELLERS – Price your properties well, and you will sell. Cut and crunch those numbers.

As always, I’m here if you have any questions and I look forwards to helping you find your next Purrfect Property!

The Edmonton Residential Real Estate average is sitting at a lovely $338,760.

Decrease year over year by -6.24% and down -6.08% from last month.

Residential single family dwellings with an average selling price of $404,275 have decreased-5.52% from last year and decreased -5.52% from last month.

Condo dwellings, continuing on a downward trend, and it has been a very long downward trend, dropping -4.90% from last year to $218,680 and increased 6.18% from last month.

Rowhouses and Duplexes are sitting at an average of $322,052 a decrease of -7.51% from last year and down -6.85% from last month.

Highest Edmonton Sales for January of 2018?

Single Family – $950,000
Condos – $660,000
Duplex/Rowhouse – $775,000

Average days on market?

Single Family: 79 Days, up 12 days from last year
Condos: 93 Days, up 2 days from last year
Duplex/Rowhouse: 90 Days, up 20 days from last year.

New Listings on market?

2,572 new listings for a total of 7,092 listings on market, an increase year over year of 9.31% and 6.10% more than last month.

How many Sales in January 0f 2018?

799 sales – which shows 8.87 Months of inventory on market, definitely a buyers market. An EXTREME buyers market. This stat is also known as Market Absorption Rate. You have a 11% chance of selling your home in todays’ market.

Total Sales for 2018?

799 Year to Date Sales, for a year over year decrease of -15.00%

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.