Sales gain for Edmonton lead by single-family

Edmonton home sales were up 1.89% in August compared to a year earlier.

The single-family sector posted the largest gains, up 6.15% from a year earlier, while condos gained 0.5%.

The Realtors Association of Edmonton says that sales were down 2.25% from July as condo sales dropped 6.34% while single-family sales gained 1.44%.

“Both sales and listings typically decrease during August, as many buyers and sellers shift their focus on preparing for the new school year,” says REALTORS® Association of Edmonton Chair Darcy Torhjelm. “As we move into the fall, buyers still have a lot of inventory to look at in all categories of residential properties. For sellers, they may have to be more patient and flexible when selling their properties, but they should still be able to get a good price for their house in the end.”

A 1.63% rise in new listings meant inventory was up 7.73% year-over-year; although inventory was down 2.62% from July as new listings slipped 4.51%.

The average all residential selling price decreased 1.38% to $364,925 compared to July 2018 and decreased 2.30% compared to August 2017.

All main property types were affected with single-family home average prices down 2.83% to $424,471 month-over-month and down 3.23% year-over-year and the condo average down 0.57% from July 2018 and 0.12% lower than August 2017. Duplex/rowhouse average prices decreased 3.38% month-over-month and decreased 6.90% year-over-year.

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