April saw the most sales in any month since at least 2008 (that's as far back as my spreadsheet goes). There were 2,868 residential sales in the Greater Edmonton Area in April, up 104% over the 5-year average (last April was an anomaly due to COVID so it's more reasonable to compare to the 5-year average).  To put things in perspective, in June 2007 when the market was as hot as we'd ever seen, there were 2203 sales. Most affordable listings are pending within a day or two of hitting the market, often with a backup offer in place. The good news for buyers is that most are still able to get offers accepted with conditions whereas most homes sold without conditions back in '07.

City of Edmonton Stats

Single-family home sales set a new record in Edmonton in April. The previous record was April 2006 when there were 900 single-family home sales reported. As of today, 1175 single-family home sales were reported in Edmonton, a 31% increase over the previous record, and a 50% increase over the 5-year average. I'll update this post when the REALTORS® Association of Edmonton releases their monthly report later this week (hopefully on Star Wars Day,  May the 4th be with you????). Condo sales have seriously rebounded this year, back up to levels we haven't seen since 2018 and slightly above the normal level for the past 10 years. The average price for single-family homes sold in April was $454,293, almost reaching the all-time high of $457,041 set in June 2017 and the median sale price was $406,000, ever so slightly less than the May 2015 high of $406,750. The average price for condos was $226,611 and the median price was $210,500. The average price per square foot for single-family homes was $286 and for condos was $215. Posted by Liv Real Estate on
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wow, April was a good month.

Posted by Renu Bhattacharya on Monday, May 3rd, 2021 at 5:15am

T-Rev,
for number of sales I meant, that sales volume went up. Thers is nothing wrong with sales going up.

Posted by Renu Bhattacharya on Monday, May 3rd, 2021 at 8:16pm

Now we just need GDP and population growth to look like ‘06

Posted by Still Employed in AB on Monday, May 3rd, 2021 at 8:47pm

Renu - for who? Cheap shelter is like cheap food, cheap water, and cheap energy: good for everyone’s health and well-being. I’ve never understood the desire for high house prices. Just stable, increasing with inflation prices. Rapid increases may seem like fun for the asset holder as they feel like smart and wise investors, but ultimately it’s no better than if the price of a loaf of bread goes to $1000/loaf. Farmers will feel smart, but at the end of the day it’s not good for society as a whole.

Posted by T-Rev on Tuesday, May 4th, 2021 at 6:19am

So sales are up 100% but the price per square foot still hasn't reached the previous high. With those kinds of sales numbers it should be at an all time high. Something is not right.

Posted by GM on Friday, May 21st, 2021 at 8:13pm

People are buying bigger houses with the lower interest rates.

Posted by Franklin on Sunday, May 30th, 2021 at 4:17am

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