Every month I review, modify/ adapt, and post the MLS® data for Edmonton and area real estate activity. The information is adapted from the REALTORS® Association of Edmonton Monthly MLS® Report and Press Release. You can view the original report in its entirety by visiting the REALTORS® Association of Edmonton website. Click HERE for a graphical representation of Edmonton’s average price over the course of the calendar year. Click HERE for a graphical representation of Edmonton’s actual month-to-month price over the course of the calendar year.
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At the mid-point of the year, the REALTORS® Association of Edmonton is confident that the local real estate market has regained stability. The 9,741 sales of residential properties sold through the Multiple Listing Service® in the first six months surpassed the six-month year-to-date figure for last year (9,567) and residential sales in June set a new record for the month. Residential sales in June totalled 2,552 units which surpassed the 2007 record of 2,203 units sold and was the third best month for unit sales in MLS® System history.
“Buyer confidence, especially among first time buyers, was evident in Edmonton despite lingering economic concerns in other markets,” said Charlie Ponde, president of the REALTORS® Association of Edmonton. “When mortgage rates looked like they might start to rise, many potential buyers locked in lower mortgage rates and then went searching for a qualifying home.”
Listing activity slowed slightly from last month but the strong sales drove the sales to listing ratio to 80% from 68% last month. Prices continue to climb with one month increases of 0.6% for single family dwellings and 1% increases for condominiums. The average*** SFD sold for $369,859 in June while condominiums sold for $247,071. The average days on market dropped to 49 in June versus hovering around 60 days or more early in the year; another indicator of buyer enthusiasm.
“Last year prices fell from the high point in March. This year prices have just continued to climb,” said Ponde. “Prices typically decline slightly in the second half of the year but the drop, if it occurs, will not be precipitous.”
At the end of June there were 6,785 residential properties active on the MLS® System (2.65 month supply at current sales volumes) which offers a wide range of choice for those eager buyers.
***Average prices indicate market trends only. They do not reflect actual prices, which vary from house to house and area to area. For information on a specific area, contact me directly***
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| June 2009 Activity | Record for the Month * |
Percent Change from June 2008 |
Change From May |
| Total MLS® sales this month | 2,847 | 36.0% | á |
| Value of total MLS® sales – month | $964 million | 30.6% | á |
| Value of total MLS® sales – year | $3.49 billion | -5.60% | á |
| Residential¹ sales this month | 2,552 | 37.8% | á |
| Residential average price | $328,299 | -3.80% | á |
| SFD² average selling price – month | $369,859 | -3.00% | á |
| SFD² median³ selling price | $349,500 | -4.20% | á |
| Condo average selling price | $247,071 | -5.80% | á |
2. Single Family Dwelling
3. The middle figure in a list of all sales prices
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