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January 2020 Edmonton Real Estate Report - Mani & Azra Bagga

Posted by Mani Bagga on Wednesday, February 12th, 2020 at 4:18pm.

                                                     

Total residential unit sales in the Edmonton Census Metropolitan Area (CMA) real estate market for January 2020 increased 0.50% compared to January 2019 and decreased 5.44% from December 2019. The number of new residential listings is down, decreasing 11.58% from January 2019. Overall inventory in the Edmonton CMA fell 11.76% from January of last year. For the month of January, single family home unit sales are up 2.52%, and condo unit sales decreased 5.94% from the same period of time last year. All residential average prices are up slightly at $351,002 a 3.85% increase from January 2019, and are down 0.75% from December 2019. Single family homes sold for an average of $413,954, a 2.52% year-over-year increase from January 2019, and a 0.64% increase from December 2019. Condominiums sold for an average of $204,355, a 5.94% decrease year-over-year, and prices are down 9.95% compared to December 2019. Duplex prices rose 5.21% from January 2019, selling at $338,815, which was a 4.23% increase from the previous month. “The Edmonton market prices remained stable this month while we saw an decrease in year-over year residential listings and sales,” says REALTORS® Association of Edmonton Chair Jennifer Lucas. “There have been slightly more sales than in January of last year, and single family home pricing increased 2.52%, duplexes are up 5.21%, and condos are down 5.94% year-over-year.” Single family homes averaged 73 days on the market, a five-day decrease from last year. Condos saw a ten-day decrease at 83 days on the market while duplexes averaged 85 days on market, a five-day decrease from January 2019. Overall, all residential listings averaged 79 days on market, a 5.95% decrease year-over-year, and increased by ten days compared to the previous month.

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