March 2019 – Edmonton Real Estate Market Statistics

We are in the middle of an EXTREME Buyers Market here in the Edmonton Area.

A Month to Month increase in sales of 23.4% and year to year decrease of 12.94%. Depending on whom you go to for your statistics and predictions about the economy and the housing market, one thing is for certain, ALL of Canada has cooled. Last month I predicted that there wouldn’t be any rate increases with the bank of Canada and I was right, they’ve decided to hold steady due to an economic stall in the marketplace. Furthermore, it looks like the Minister of Finance might just allow mortgages to be amortized over a 30 year period, just like lit was 10 years ago. that will definitely help open the local market back up… I’ll keep you posted.

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

March 2019 - Edmonton Real Estate Market Statistics

March 2019 – Edmonton Real Estate Market Statistics

Stats as of February 28, 2019

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

Residential single family dwellings with an average selling price of $430,000 have decreased-2.73% from last year and increased 6.36% from last month.

Condo dwellings, continuing on a downward trend, dropped -6.62%% from last year to $222,267 and increased 1.64% from last month.

Rowhouses and Duplexes are sitting at an average of $321,288 a decrease of -9.60% from last year and down -0.24% from last month.

Highest Edmonton Sales for February of 2019?

Single Family – $1,699,900
Condos – $999,000
Duplex/Rowhouse – $650,000

Average days on market?

Single Family: 70 Days, up 12 days from last year
Condos: 76 Days, up 2 days from last year
Duplex/Rowhouse: 80 Days, up 18 days from last year.

New Listings on market?

2,427 new listings for a total of 7,422 listings on market, an increase year over year of 4.31% and 4.89% more than last month.

How many Sales in February 0f 2019?

986 sales – which shows 7.53 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 13% chance of selling your home in todays’ market.

Total Sales for 2019?

1,783 Year to Date Sales, for a year over year decrease of -12.94%

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.