The REALTORS® Association of Edmonton released their monthly report on the real estate market in Edmonton this week, saying:

“We generally see activity in the housing market start to increase at this time of year,” says James Mabey, REALTORS® Association of Edmonton Chair. “Buyers can look forward to more inventory to choose from and sellers can count on more buyers in the marketplace.”

There are some interesting sub-plots going on when you dig into the numbers. First off, luxury home sales have significantly increased in the first quarter of 2017: As you can see from our snapshot on the market below, prices are up slightly, while inventory is down and sales are up: The board changed the way they report sales, so I won't have to make adjustments for reported sales anymore. Here is the new chart, showing sales in March right in the range you'd expect at this time of year: The average price of residential properties in the greater Edmonton area was up 3% to $371,680 and the median price was down 2.3% to $349,500. The inventory dropped 6.7% from last year to 6,806 listings: New listing activity bounced up in March to roughly the same level we saw last year (3080 this year vs 3082 last year):

Edmonton Stats:

Much like February, Edmonton real estate sales were slightly improved in March, compared to last year. 740 single family homes sold in March, up 1.2% from last year. 334 condos sold in Edmonton in February, up 11% from last year: The average price of single-family homes was up 1% to $439,463 and the median price was unchanged at $389,950. The average price of condos was down 4% $243,437 and the median price was down 7% to $218,000. The average price per square foot for single family homes was down $2 to $282 and for condos was down $3 to $239. Posted by Liv Real Estate on
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Hi Sara- any thoughts on what slowed March down so much (down to 1.2% yoy sales vs. a 21% yoy gain in Feb)?

Posted by Trev on Tuesday, April 4th, 2017 at 6:01am

Trev, Tony slowed them down! LOL. I'm just kidding

Posted by Wally on Wednesday, April 5th, 2017 at 3:58am

I can't say for certain why, but I know a lot of deals are falling apart on financing.

Posted by Sara MacLennan on Wednesday, April 5th, 2017 at 5:12am

Hi Sara,
Great Blog. Happy to hear that Real Estate Sales up Slightly in Edmonton in March. Thanks for sharing this information with us.

Posted by James Maddock on Thursday, April 13th, 2017 at 12:51am

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