I normally update this post much more quickly, but I believe I found an error in the reported inventory and am waiting to hear back from our association about it. I've included what I can now and will update this again when I get an answer about the inventory. Sales were up 1.8% from last August - 1567 listings were reported sold in the Greater Edmonton Area last month. The average sale price was $423,878, down 3.4% from last August and the media price was $375,000, down 2% from last August. New listings were up 3% from last August - 3,050 new listings were added last month.

City of Edmonton Stats

My preliminary look at the real estate market in Edmonton in August shows 766 single family homes were reported sold in August, up 1.3% from last August and right in the normal range for this time of year. 321 condos were reported sold, down 5% from last year and well below the average for this time of year. The average sale price for single-family homes sold in Edmonton in August was $423,878, down 3.4% from last year and the median was down 2% to $375,000. The average sale price for condos sold in Edmonton in August was $245,302, about the same as last year and the median was down 1% to $224,000. The average price per square foot for single-family homes was down $10 to $277 and for condos was up $6 to $238. As always, I’ll update this report when the REALTORS® Association of Edmonton releases their stats on the Greater Edmonton area in a few days. Posted by Liv Real Estate on
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High inventory, but prices not going down much IMO.

Posted by Mike on Tuesday, September 4th, 2018 at 4:01am

Bubu, you mean you expect this decline to continue for 3-4 years?

Posted by Tim on Friday, September 7th, 2018 at 4:15am

Bubu, you mean you think the decline in prices will continue for another 3-4 years?

Posted by Tim on Friday, September 7th, 2018 at 5:46am

Mike, 3.4% plus 3% inflation is 6.4% down from last year.. For a $400k average house it is a lot per year... Consider this situation for teh next 3-4 years and you have the full picture.. In reality some properties go for more than 10% less plus inflation... the 3.4% plus inflation is average....

Posted by bubu on Friday, September 7th, 2018 at 7:44am

Yes, in real estate it is hard to see crashes as in the market.... interest rate will slowly go up, economy is stagnant in AB so prices will slowly go down... 3-5% nominal per year plus inflation another 3% is my prediction....

Posted by BUBU on Tuesday, September 11th, 2018 at 5:05am

Economy is definitely not stagnant in Alberta. Supposed to lead of all canada in GDP for 2019. I would no call that stagnant.

Posted by Karlhungus on Saturday, September 15th, 2018 at 5:27am

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