The numbers shown for the benchmark price of homes that were sold in Edmonton last month was the same as that of last year’s own, which was at $369,956. However, it declined by 4 percent from the previous month (July), which saw average sale price for various types of housing including single-family homes eased down by 4 percent to $434,362. The duplex/row house homes were being sold for at least $344,377 after declining by 1 percent, and the condos down by 2 percent to $251,526.
With just 1,433 sold, the sales decreased by 5 percent over the months, and 2 percent over the years. There was a 3 percent decrease for single-family homes sold over the years, with condo sales going down by 6 percent, while duplex/rowhouse sales went up by 11 percent. Even the listings went down, 5 percent over the years and 6 percent over the months, while inventory decreased by 2 percent from July, but went up again by 9.4 percent from last year August.
The chair of the Realtors Association of Edmonton, Steve Sedgwick said: “While this is one of the most active times of the year, we are seeing both listings and sales tapering off as we move into the fall months. This is standard in our local real estate cycle. While unit sales for condos have been impacted the most, prices remain stable. This is thanks in part to the continuing trend of unit sales of over $750,000 that are keeping average sales price of condos elevated by almost 3 per cent.”