July 2019 Edmonton Area Real Estate Activity

August 7, 2019 7:16 am Published by

We saw a nice 11.49% increase in overall residential sales this July in comparison to a year ago. In fact, the total sales of 1921 units is the highest July sales activity since 2015. The number of new listings also declined along with the overall inventory. This bodes well for those seller’s who’ve felt a bit frustrated in a crowded market. The largest jump in sales year over year was in the single-family category at 17.79%. Condo sales however were flat from last year but at least up from this June.

The average sale price for a single-family home increased by 2.31% compared to this June but were down 1.91% from 2018. In contrast the condo market is still struggling to find a base with prices off 6.59% from last month and 10.3% from July 2018. That said, I wonder if the decline in overall inventory combined with the positive move up in sales is an early indication we are moving into a more balanced market.

If you would like additional details regarding what’s happening in your neighbourhood, please feel free to give us a call.

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This post was written by Cat and Chris