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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Resale housing sales continued their strong trend through October with sales of all housing types through the Multiple Listing Service® in October at the second highest level on record (after October 2006). There were 1,535 residential properties sold in October; up 23% from 2008 but down almost 10% from last month;  following the normal seasonal trend of month-to-month sales dropping through the fall. Residential housing prices remained stable and within typical ranges for seasonal fluctuations.

“The housing market in Edmonton and area is still robust,” said Charlie Ponde, president of the REALTORS® Association of Edmonton. “Homebuyers are confident about their future prospects and keeping an eye on the possibility that mortgage rates will rise. They can lock-in their housing costs for five years while rates are at historic lows if they buy in this market.”

Prices for single family dwellings were down 2.2%, on average*** from last month to $363,694 but up marginally (0.12%) from last year. Condominiums were down 3.2% from September to $237,601 but the same price ($11 difference) as a year ago. Overall, the average residential price in October was $318,969, down 2.5% from last month but up a third of a percent from 2008.

There were 2,205 homes listed on the MLS® System in October with 1,535 sales for a sales-to-listing ratio of 70%. The total value of residential sales in October was $490 million and total MLS® System sales (including rural and commercial properties) is up over last year for the year-to-date to over $6.18 billion. Total available inventory was 5,530 homes which is a typical 3.5 month supply. Homes sold on average in 47 days (44 in September but 58 in October 2008).

“Good looking homes in the average price range always sell quickly,” said Ponde. “Less desirable homes may take a little longer to find a buyer and home sales at the upper price ranges are steady. It is important to consult your REALTOR® to devise a strategy for buying or selling a home to ensure you get the latest market and neighbourhood information.”

***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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1. Residential includes SFD, condos and duplex/row houses.
2. Single Family Dwelling
3. The middle figure in a list of all sales prices

 ///…CP