Currently November 5, 2016, the real estate market here in Edmonton is still a Buyers market with 5.7 months of homes actively for sale. For the month of October we experienced a higher volume of sales due to the new mortgage changes from the Canadian Government that began 17th of October, 2016. This change encourage first time home buyers and those upgrading to purchase before the new mortgage rules.
Here are the housing statistics from the REALTOR® Association of Edmonton;
MLS® System Activity (for all-residential sales in Edmonton CMA1) October 2016
SFD2 average3 selling price – month $423,755
SFD median4 selling price – month $392,250
Condominium average selling price $245,698
Condominium median selling price $230,000
Duplex/Rowhouse average selling price $332,565
Duplex/Rowhouse median selling price $319,000
All-residential5 average selling price $364,004
All-residential median selling price $348,000
Number of residential listings this month 2,147
Number of residential sales this month (reported) 1,265
Number of residential inventory at month end 7,215.
Number of Total6 MLS® System sales this month 1,661.
Value Total residential sales this month $523 million
Value of total MLS® System sales – month $603 million.
Value of total MLS® System sales - YTD $75 million.
You can view the full report view the full report here at www.EREB.com
RE/MAX River City