The REALTORS® Association of Edmonton released their monthly report on the Greater Edmonton Area real estate market today showing lower demand and higher supply than last year, much like we've seen all year. In these conditions, it's surprising that the overall average residential sale price increased by 1%, but this was partially due to a number of luxury sales (nearly twice as many as we saw last November), including one at $3million. As we reported yesterday, the size of homes sold in Edmonton reached a new record in November: The increasing size of homes sold at least partially explains the stable average prices in Edmonton while sales have been dropping. While the value of most properties has declined, buyers still qualified for the same amount of…

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