April Real Estate Market Report

After six months of below average sales, and year over year declines, Edmonton single-family home sales improved to near normal levels in April. 769 single-family homes were reported sold in April in Edmonton, up 3% from last year. The market feels different from any market we've experienced in Edmonton - I'm working on a separate article with tips for success including stories from our clients buying and selling in today's market.

Condo sales were still well below normal levels - 307 condos were reported sold in April in Edmonton, down 2.8% from last year. I found an interesting article that suggests the multi-family sector is strengthening in Edmonton, it's worth a read. One thing we've noticed is with the increased availability of new rental units in Edmonton, many young people are now renting apartments while saving to buy a single-family home, as opposed to the recent past when there were very few nice rental options and many people bought apartments as their first home.

The average sale price of single-family homes was down 0.4% from last April to $418,221 and the median price was down 2.3% to $379,900. The average price of condos was down 9.9% from April to $222,041 and the median price was down 10.1% to $202,500.