Demand for real estate was up 16% from last October in the Greater Edmonton area last month - 1334 residential listings were reported sold in October - while supply dropped by 5%. If demand continues to increase, and supply continues to decrease on a year over year basis, we should see prices start to rise in the future - how long that is going to take is anyone's guess. The benchmark price decreased by 2.4% to $320,300 and the benchmark price for single-family homes was down 1.9% while apartment sytle condos saw the biggest drop at 5.3%. The absorption rate slipped back into a balanced market in October, but it usually creeps up in November and December.  

City of Edmonton Stats

Our initial report on the real estate market in Edmonton in October shows demand was up from last year, but prices are still lower than last year (I will update this post when the REALTORS® Association of Edmonton releases its monthly report on the Greater Edmonton area). 654 single-family homes were reported sold in Edmonton in October, up 21% from last year. 262 condos were reported sold in October, up 6% from last year. Benchmark prices were down across the board, but the average price of condos was up 3.3%, and the median was up 1.25%. The average price per square foot for single-family homes was down $13 from last October to $267 and for condos was up $2 to $219.   Posted by Liv Real Estate on
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