The Gist: February 2016

(March 02, 2016)

“The Gist” is adapted from the REALTORS® Association of Edmonton Monthly MLS® Report and Press Release. Every month I summarize and post “the gist” of the MLS® data for Edmonton and area real estate activity.

The average*** single family detached price in the service area of the Edmonton Multiple Listing Service® was up 0.24% to $419,940.
The average condominium price was up 8.83% to $247,090
The average duplex/ row house price was up 8.41% to $354,386.
The average days-on-market in February was down to 57-days.
There were 1,069 reported residential sales and 6,681 residential units for sale at month end.

The REALTORS® Association of Edmonton releases month-end and year-end results for sales through the local Multiple Listing Service® and includes all residential sales for the City of Edmonton and surrounding communities and counties. ***Average prices indicate market trends only. They do not reflect actual prices, which vary from house to house and area to area. Prior period figures have been adjusted to include late reported sales and cancellations and therefore reflect a more accurate view of the period than previously reported at month end. For information on a specific area, contact me directly***


Activity (for all residential sales on Edmonton MLS® System)

February
2016

Change from
January

Change from February 2016

SFD3 average selling price – month

$419,940

0.24%

-2.79%

SFD median4 selling price

$400,000

3.16%

0.00%

Condominium average selling price

$247,090

8.83%

-1.32%

Condominium median selling price

$224,000

1.82%

-4.88%

All-residential5 average selling price

$363,266

6.93%

-0.27%

All-residential median selling price

$347,500

5.30%

-0.71%

# residential listings this month

2,765

17.0%

14.9%

# residential sales this month

837

36.5%

-10.1%

# residential inventory at month end

6,681

16.2%

33.4%

# Total6 MLS® System sales this month

1,069

34.3%

-10.5%

$ Value residential sales this month

$342 Million

42.4%

-11.0%

$ Value of total MLS® System sales – month

$383 Million

42.4%

-13.6%

$ Value of total MLS® System sales – YTD

$686 Million

155%

-14.4%



1 Census Metropolitan Area (Edmonton and surrounding municipalities)
2 Single Family Dwelling
3 The total value of sales in a category divided by the number of properties sold
4 The middle figure in a list of all sales prices
5 Residential includes SFD, condos and duplex/row houses.
6 Includes residential, rural and commercial sales