The Gist: October 2016

(November 03, 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 down 1.55% to $423,755.
The average condominium price was down 2.25% to $245,698
The average duplex/ rowhouse price was down 7.72% to $332,565
The average days-on-market in October was 60-days.
There were 1,265 reported residential sales and 7,215 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)

October
2016

Change from
September

Change from October 2015

SFD3 average selling price – month

$423,755

-1.55%

-1.75%

SFD median4 selling price

$392,250

-1.26%

-0.92%

Condominium average selling price

$245,698

-2.25%

0.45%

Condominium median selling price

$230,000

0%

1.48%

Duplex/ rowhouse average selling price

$332,3565

-7.72%

-6.90%

Duplex/ rowhouse median selling price

$319,000

-6.18%

-6.21%

All-residential5 average selling price

$364,004

-2.65%

-0.64%

All-residential median selling price

$348,000

-2.25%

0.87%

# residential listings this month

2,147

-21.6%

-5.50%

# residential sales this month

1,265

-5.52%

5.50%

# residential inventory at month end

7,215

-8.17%

8.64%

# Total6 MLS® System sales this month

1,661

-3.49%

5.59%

$ Value total residential sales this month

$523 Million

-7.27%

2.20%

$ Value of total MLS® System sales – month

$603 Million

-5.63%

2.82%

$ Value of total MLS® System sales – YTD

$7.5 Billion

10.3%

-7.17%



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