The sudden onslaught
of winter did not slow real estate sales in November according to figures
released by the REALTORS® Association of Edmonton. One month sales in November
were the highest in five years. The figures are based on sales through the
Multiple Listing Service® System in the Edmonton CMA.
The number of all-residential sales in the Edmonton CMA in November (adjusted
to account for late reported sales) was 1,116 (1033 reported) which was the
highest number of sales in the month since 2009. There were 672 (622 reported)
sales of single family homes, 349 (323 reported) condo sales and 83 (77
reported) duplex/row house sales in November. Total residential sales were up
10.5% over November 2012 with SFD sales up 7.9% and condos sales up 13.7%.
“The Edmonton market continues to perform well with sales up and prices
rising,” said RAE President Darrell Cook. “While home sellers welcome the active
market, buyers, with good employment prospects and higher than Canadian average
salaries, are not deterred as they enter the fairly stable market place.” The
number of homes available for sale on the MLS® System is at the lowest level it
has been in five years. There were 4,047 homes in inventory at the end of
The all-residential average price (representing SFD, condo and duplex/row
house sales) was $346,388, up 2.6% from last month and 3.5% from November 2012.
The average price for a single-family dwelling in November was $405,826 (up 2.1%
M/M) and an average condo sold for $240,630 (up 2.1% M/M). The average price for
a duplex/row house was $327,027 (up 0.3% M/M). Compared to November 2012, SFDs
were up 2.8%, condo prices up 6.9% and duplex/rowhouses up 5.2%.
The average days-on-market was 57, up four days from last year. The
sales-to-new listing ratio was 75% as compared to 77% in November 2012.
“The cold and snow make it more difficult to list and view homes at this
time of year but the market is still very active with over 1,000 properties
listed in November,” said Cook. “REALTORS® are always prepared to discuss your
housing needs with you and advise on pricing, marketing and negotiation