Carl Phin & Kim McLeod

Residential inventory continues to remain strong, as January closed out with 5,751 properties for sale on the MLS® System for the Edmonton Census Metropolitan Area (CMA). That’s an increase of 39.2% over this time last year, and 13.03% up over last month. Sales for January were down however, with 618 properties selling in the first month of 2016, down 13.32% month-over-month, and 7.21% lower year-over-year (YoY).

 

“Sales volumes are down, relative to the same time last year,” REALTORS® Association of Edmonton Chair Steve Sedgwick explains. “It is likely that home buyers are responding to current economic uncertainties. Although prices have dropped slightly, they remain stable. Growth in inventory may create more opportunities for potential buyers, and given the low interest rates, we remain optimistic about market growth as we head into the spring buying season.”

 

Prices in all categories saw a decline in the Edmonton CMA market as many lower...

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Home sales activity in Edmonton was down on a year-over-year basis in the fourth quarter of 2015.

Residential sales numbered 3,382 units in the fourth quarter of 2015, down 9.9 per cent from the same period in 2014. Annual home sales totaled 18,227 units, a decline of 8.2 per cent from 2014.

Sales decreased for single family homes and condominium apartment units, but increased slightly for condominium townhomes in the fourth quarter.

 
Summary – Sales by Housing Type
CategoryQ4-2015Q4-2014Year-over-year 
percentage change
Single Family 1,875 2,004 -6.4
Condo Apartment 477 603 -20.9
Condo Townhouse 320 313 2.2

 

Summary – Median Price by Housing Type
CategoryQ4-2015Q4-2014Year-over-year 
percentage change
Single Family $398,000 $404,000 -1.5
Condo Apartment $220,000 $220,000 0.0
Condo Townhouse $236,650 $245,000 -3.4
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Fantastic indepth study on the Emerging Trends in Real Estate for Edmonton, Canada, North America and around the world. 
   Download publication here » Emerging Trend in Real Estate 

Appreciating their “island in the storm,” temperamentally conservative Canadian real estate players grapple with tamping down unaccustomed overconfidence and wondering whether mostly stable property markets won’t be buffeted by world economic turmoil, particularly the U.S. contagion. Offsetting the increasing “global market risk,” Canada’s considerable aces in the hole remain “a robust banking system,” the fiscally sound government, and rich stores of natural resources and commodities, as well as steady immigration.

In this year’s report, we provide insights into various facets of Canada’s real estate market, as well as analysis of some of its key urban centres, including Toronto, Vancouver, Edmonton, Calgary and Montreal.

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Edmonton, January 4, 2012: The REALTORS® Association of Edmonton reported that the all-residential average price for real estate sales through the Multiple Listing Service® (MLS®) in December was up 1.7% ($316,415) from a year ago. The average price of a single family detached home was also up 2.0% to $364,803 from December 2010. Relative to last December housing prices were up overall as well. As typical for December when sales usually fall off, month over month sales were down 27% and prices dipped 1.5% as compared to the November figures.

 

“With economic uncertainty impacting Europe and depressed housing markets in parts of the United States, it is a relief to report on the stability and health of the local real estate market,” said REALTORS® Association of Edmonton President (2011) Chris Mooney. “With prices and sales varying within a small range there is a solid base going forward into the 2012 market.”

 

In November the average price...

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Data is deemed reliable but is not guaranteed accurate by the REALTORS® Association of Edmonton.