Market Reports

For the latest information about the Edmonton home and condo sales market read our reports first...

There are currently 12 blog entries related to this category.

 

Summary:

October 2017 proved to be a positive experience for home sellers across the Edmonton market. The market put its nose up. Sales values increased. Days on market is about the same and the inventory surplus is starting to come down.

Sales Values:

The average sales price of a home in Edmonton in October 2017 was around $376,000 compared to approx. $372,000 in 2016. This means that home sales values were UP again by 1% over the same period last year or just over $4,000 on average.

Days on Market:

It took 58 days to put most homes under contract in October 2017 compared to 57 days in 2016. This is not significant in our view and speaks to the underlying strength of our market here in Edmonton.

Numbers Sold:

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Summary:

The market took an interesting turn in September. Days on market was up, inventory levels are high and prices declined. Could this be a great time to buy?

Days on Market:


In September 2017 most home sellers put their homes under contract in 55 days, up one day from September 2016. Frankly given the elevated levels of inventory, we are not surprised that the market would slow a little. Buyers simply have more time to pick and choose their next home.

Numbers Sold:



988 homes sold in Edmonton during the month of September 2017, compared to 1090 homes sold in 2016. Does this mean more people are holding off and renting instead? Current inventory is also high. At the end of September 2017 there was 6308 homes for sale across

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Summary:

Home sales values strengthened in August and homes took only 54 days to sell on average. Will this pattern continue? We suggest you read the outlook section below.

Sales Values

 

August home sales prices showed a nice increase over the same month in 2016. Home sellers this year received approximately $2924 MORE than did home sellers last year. The average sales price for August 2017 was $375,099 compared to $372,175 last year. We would consider this to be a balanced & healthy market.

Days on Market

 

August home sellers both in 2017 and 2016 fared the same, in terms of time on the market. 54 days was how long it took sellers to put their homes under contract. This is a very good sign from most perspectives.

Numbers

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Summary:

In July, the Edmonton homes sales market continued to perform strongly. Values are holding. Days on market is down. However, inventory levels continue to climb. There is now a 6-month supply of homes for sale, based on current demand.

Days on Market

Homes for sale in Edmonton continued to sell quickly this past July. The average seller was putting their home under contract in only 51 days, down one day compared to 2016. This suggests ongoing and underlying confidence on the part of home buyers.

Sales Values

July prices remained stable. Edmonton home sellers in July received just $291 less than did those in 2017. The average sales price for July was $387,535 compared to $387,826. We would consider this to be a balanced

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Summary:

The June market proved to be extremely interesting. Days on market is down, Values are way UP. Inventory is UP. If demand continues, home sellers have little to worry about and buyers should be prepared to pay more. However, with inventory levels climbing, the picture could change dramatically over the next few months.

Sales Values

June presented us with a major surprise. Home sellers enjoyed a 5% uplift in values and received over $17,600 MORE than home sellers did in 2016. The average sales price was around $399,973 compared to only $382,326 in June 2016.

Numbers Sold:

1323 homes sold across Edmonton in June 2017, which is only 85 homes LESS than in 2016. The bigger concern is the number of homes currently for sale.

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Summary:

The month of May 2017 has proven to be very interesting indeed. Values are down, inventory levels are up. Days on market remains stable.

Days on Market

 

For May 2017, days on market was exactly the same as for 2016. Homes sold, that is those that went under contract and were reported sold to the Edmonton MLS® system, were taking only 52 days to sell.

Sales Values

 

Buyers were quite successful in negotiating meaningful discounts in May 2017.

Typically, home sellers received 1% LESS than they would have a year ago. This represents an average price drop of around $4500. The average home price in Edmonton for May 2017 was $383,211. This includes all types of homes, for example, single family, condos and mobile homes.

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Summary:

Confidence seems to be growing once again in the Edmonton home sales market. Sales prices are UP and inventory levels are DOWN.

Sales Values

 

Sales prices climbed nicely in April 2017. Home sellers received on average $5,545 MORE, than did those that sold a year ago. We anticipate that this trend may continue as the year progresses, albeit with perhaps the odd blip.

Days on Market

 

The market is speeding up. Based on April’s numbers, home sellers can expect to have their home under contract in around 52 days. This might be further evidence that the Edmonton market is starting to pick up nicely. 

Numbers Sold:

 

In April 88 fewer homes sold than last year. This is not significant.

Inventory levels are

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Summary:

Confidence seems to be growing once again in the Edmonton home sales market. Sales are UP and inventory levels are DOWN.

Numbers Sold:

 

In March 2017, there were 43 more homes sold than in the year before. The underlying story is inventory levels. Supply is coming down. Based on demand there is now only 4 months’ supply compared to 5 months in February and 7 months in January. This is a rapid tightening up and it will be interesting to see how this effects prices. We are certainly starting to see more and more multiple offer situations.

Days on Market

 

Don’t let the angle of the line fool you. This represents just 3 days. That is, it took on average 53 days to sell a house in March 2017, compared to the same month last

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Summary:

The second month of the year continues to show encouraging results for home sellers in Edmonton. It’s taking slightly longer to sell than in 2016, but values are UP as is the number of homes sold.

Sales Values

 

Edmonton home sales prices climbed a little bit in February 2017. Compared to this time last year, sellers were receiving about $1753 MORE, than sellers did in 2016. It’s not a lot, but still moving in the right direction.

Numbers Sold:

 

In total 135 more homes sold this February than in 2016. We believe that this is exciting news as it confirms underlying confidence on the part of buyers in Edmonton area home ownership. Inventory levels are also moderating. In January there was a 7 month supply. In February,

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Summary:

Wow what an exciting start to the year in Edmonton's housing market. Homes sales volume is up. Prices are way up and homes are selling faster than this time last year.

Sales Values

 

Home sales prices climbed steeply in January 2017 across Edmonton. Compared to this time last year sellers were receiving about 9% MORE than sellers did in 2016. This represents an uplift of about $30,000. To keep this in perspective, home sales values last January took a deep dive, so this climb is skewed somewhat.

Numbers Sold:

 

In total 35 more Edmonton homes sold this January than in January 2016. This is a positive sign. However, inventory levels are high. Based on current demand, it would take 7 months to deplete the current supply of

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