It was a busy December for real estate agents in Edmonton with more sales than we normally see during the holiday season. Higher than normal luxury sales brought the average price of single-family homes up, while the average price per square foot declined. Unlike many other markets in Canada, new listings also increased (although not as much as sales) so the upward pressure on prices was not as great in the Edmonton area as it was in Calgary and other markets. I will post a market forecast after the REALTORS Association of Edmonton Housing Forecast on January 19, it will be interesting to hear what the experts have to say about the economy and housing market. I will update this post with the Greater Edmonton Area stats when the REALTORS® Association of Edmonton releases the monthly stats package later this week.
City of Edmonton Stats
Single-family sales were up 18% in December and well above the levels seen in December for the past 10 years.
Condo sales were also up significantly from last year (+46%) and finished the year out in the normal seasonal range.
The average sale price for single-family homes increased 12% from last year and the median price was up 13%. For condos, the average price was down 6% and the median price was down 7%.
The average price per square foot for single-family homes dropped $7 to $279 and condos dropped $10 to $212.
Posted by Liv Real Estate on