Carl Phin & Kim McLeod

1,364 properties were sold in the Edmonton Census Metropolitan Area (CMA) in March, up nearly 63 per cent from the 837 homes sold last month, but down 6.13 per cent from the 1,453 relative to March 2015. There were 863 single family detached homes sold in the Edmonton CMA, a 67 per cent percent increase month-over-month, and down only 1.5 per cent from the same time last year. March saw the sale of 335 condos and 144 duplex/row houses, up 44 per cent and 82 per cent from February, respectively. 

 

 

“Sales, relative to last month, were consistent with the seasonal trends that we expect,” REALTORS® Association of Edmonton Chair Steve Sedgwick explains. “Inventory is growing, with more than 3,000 properties coming onto the market last month. Despite the inventory growth, prices are holding steady, with median prices on par with last year, and average prices up slightly due to the sale of high-end luxury homes in March.”   

 

The...

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Residential sales activity reported through the MLS® Systems of real estate boards in Alberta numbered 3,170 units in February 2016, down eight per cent from a year earlier.

 

Nationally, home sales activity rose 18.7 per cent from year-ago levels in February 2016.

 

The provincial average price for homes sold in February 2016 was $388,037, up 0.6 per cent from a year earlier. The national average price, by comparison, rose 16.9 per cent on a year-over-year basis to $503,057.

 

Monthly residential average prices were up from year-ago levels in South Central Alberta (+11.9 per cent), Central Alberta (+4.3 per cent), Calgary (+2.1 per cent), Medicine Hat (+0.9 per cent), and Lethbridge (+0.9 per cent). In contrast, average prices decreased year-over-year in Edmonton (-0.5 per cent), Alberta West (-5.3 per cent), Grande Prairie (-9.2 per cent), Fort McMurray (-11.4 per cent) and Lloydminster (AB) (-14.9 per cent).  

 

New listings on the MLS® Systems of...

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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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Today’s announcement from Finance Minister Bill Morneau brought change to the way that real estate will be conducted across the country. Starting on February 15, 2016, buyers will now be required to provide a minimum down payment of 10% on all homes that are priced above $500,000. However, the higher percentage will only apply on the dollar value in excess of that price. For example, if a buyer was to purchase a home valued at $750,000, the down payment would be $50,000; $25,000 on the first $500,000 at 5% and $25,000 on the additional $250,000 at 10%.

 

Here in Edmonton, the average sale price of a single family home is well below the threshold at $438,172. But while the average home buyer in our area will not be directly affected, there is still cause for some concern.

 

 

“Edmonton’s housing market is a key contributor to Alberta’s economy and an important job creator. At a time of economic uncertainty in Alberta, we do not think it is necessary...

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Edmonton, July 5, 2010: REALTORS® report normal client activity in the Edmonton real estate market with listings, showings and sales. The residential inventory is approaching record levels set in 2007 but prices held steady in the second quarter with the expectation that they will soften as usual through the fall and early winter.

“There was less external pressure on the market from incentives or rate changes last month and as a result the market seems to be operating in a normal controlled manner,” said Larry Westergard, president of the REALTORS® Association of Edmonton. “It has been quiet on the news front but very busy in REALTORS® offices as they list client’s properties for sale, book showings for buyers and attend open houses. This has not resulted in immediate sales, however, and, in anticipation that this slowdown will continue through the year, we have reduced our 2010 sales forecast by 2,000 units from 21,000 to just 19,000.”

The slight rise in prices for single family residences...

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Edmonton, June 2, 2010: The housing market was relaxed in May with slightly lower sales than last year and prices generally stable. Despite the sales drop, the current sales figures compare favourably with levels set in 2008.

“Financial incentives, changes to mortgage qualifying rules and the threat of increasing mortgage rates caused the local market to peak a little earlier this year,” said Larry Westergard, president of the REALTORS® Association of Edmonton. “Many buyers exercised their options in April leaving the customer base a little leaner in May.”

Single family residences in the Edmonton area rose in price by less than one percent and sold on average* for $390,583 in May. Condominium prices dipped just two percent to an average of $248,526. Duplex and rowhouse prices of $320,204 were down 2.3% from last month. Overall, the average residential price was up a quarter of a percent to $340,192.

There were 3,670 residential listings in May with residential sales of 1,682 properties resulting...

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