Improving conditions for Edmonton housing market

Improving conditions for Edmonton housing market

Improving conditions for Edmonton housing market

The Edmonton housing market saw some improvement in May according to new figures from the region’s real estate association.

There was a 17.64% increase in overall sales month-over-month and a 4.04% rise year-over-year.

Realtors Association of Edmonton data reveals that sales of single-family homes have increased month-over-month by 16.37% and 2.64% year-over-year. Condo sales have increased by 15.69% since last month but have decreased by 0.42% since May of 2018. Duplex/rowhouse sales have increased by 16.22% month-over-month and 14.36% year-over-year.

“Month over month increases are typical at this time of year, when more people are looking to sell and buy homes,” says REALTORS® Association of Edmonton Chair Michael Brodrick. “This year is no different, but we’ve experienced an increase in overall residential sales from May of last year.”

Listings, prices up from April

There was a 7.22% increase in residential listings in May compared to April but there was a year-over-year decrease of 12.17%.

The average price of all residential homes has seen a month-over-month increase but has decreased since May of 2018.

The average price of a single-family home rose from $427,657 to $431,484 (0.89%); for condo units there was an increase from $228,933 to $237,802 (3.87%); and for duplex/rowhouses the average price increased from $330,795 to $334,704 (1.18%).

The average sales price of all residential listings rose from $365,129 to $368,514 (an increase of 0.93%) since April, but that price has decreased by 2.99% (from $379,864 to $368,514) since May of 2018.