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Residential sales, new listings and year-to-date inventory have all experienced a month-over-month increase from April 2019. Total residential sales are up 17.64% from last month, and sales have also seen a year-over-year increase of 4.04% from May 2018. 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 to month and 14.36% year over year. All residential listings have increased 7.22% from last month but have decreased by 12.17% from May of 2018.
“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.”
The average price of all residential homes has seen a month-over-month increase but has decreased since May of 2018. Since April, the average price of a single-family home rose from $427,657 to $431,484 (an increase of 0.89%). The average price of condo units rose from $228,933 to $237,802 (an increase of 3.87%), and the average unit price of duplex/rowhouses rose from $330,795 to $334,704 (an increase of 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.
Average days on market for all residential listings remains unchanged from last month at 60 days; however, that number has risen from 52 days in May of 2018. The average days on market for single-family homes has decreased from 55 to 53 days since last month but has experienced a year-over-year increase from 45 days in May of 2018. Month over month, the average number of days on market for condo units has decreased from 71 to 69 days, but that number has increased from 65 days in May of last year. Days on market for duplex/rowhouse units increased month over month from 67 to 69 days and year over year from 57 days in May of 2018.
Article Courtesy of EREB, full article: https://realtorsofedmonton.com/web/RA...
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