In the month from July, average sales prices for all housing types eased with single-family homes down 4 per cent to $434,362; condos down 2 per cent to $251,526; and duplex/rowhouse homes selling at an average $344,377, down 1 per cent.
Sales were down 5 per cent month-over-month and 2 per cent year-over-year with 1,433 homes sold. Single-family home sales dipped 3 per cent year-over-year; condo sales were down 6 per cent; duplex/rowhouse sales increased 11 per cent.
Listings were also down; 5 per cent year-over-year and 6 per cent month-over-month and inventory was down 2 per cent from July but up 9.4 per cent from August 2015.
“While this is one of the most active times of the year, we are seeing both listings and sales tapering off as we move into the fall months. This is standard in our local real estate cycle,” said Steve Sedgwick, chair of the Realtors Association of Edmonton. “While unit sales for condos have been impacted the most, prices remain stable. This is thanks in part to the continuing trend of unit sales of over $750,000 that are keeping average sales price of condos elevated by almost 3 per cent.”
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
Investment Hot Spots:
Fowler, Kingston, Kennetcook, Jasper, Lower Clarks Harbour
Figures for August show that the average sale price of homes in Edmonton were in line with those of a year ago at $369,956 but down 4 per cent from July.