Residential Unit Sales and Prices are Steady for Summer

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June, 2021: Total residential unit sales in the Greater Edmonton Area (GEA) real estate market for June 2021 increased 33.4% compared to June 2020 and decreased 0.3% from May 2021.

New residential listings are up year-over-year, increasing 19.9% from June 2020. New residential listings are also up month-over-month, increasing 1.2% from May 2021. Overall inventory in the GEA was down 0.9% from June of last year and increased 5.9% from May 2021.

For June, single-family home unit sales are up 28.8% from June 2020 and down 6.9% from May 2021 at 1,676. Condo unit sales increased 47.2% from June 2020 and decreased 21.4% from May 2021. Duplex/rowhouse unit sales were up 34% year-over-year and down 1.5% month-over-month.

All residential average prices are at $398,229, a 10.6% increase from June 2020 and down 0.8% from May 2021. Single-family homes averaged $472,637, a 11.6% year-over-year increase and a 1.5% increase from May 2021. Condominiums sold for an average of $241,808, a 9.9% increase year-over-year, and prices are averaging the same as May 2021. Duplex prices increased 8.1% from June 2020, selling at $356,085, which was a 0.6% decrease from May 2021.

The MLS® Home Price Index (HPI) composite benchmark price* in the Greater Edmonton Area trended up to $350,200, an 8% increase from June 2020, and up 0.7% from May 2021.

Single-family homes averaged 28 days on the market, a 25-day decrease from June of last year. Condos averaged 53 days on the market, a 13-day decrease year-over-year, while duplexes averaged 32 days on the market, a 32-day decrease compared to June 2020. Overall, all residential listings averaged 36 days on the market, decreasing by 23 days year-over-year and increasing by three days compared to May 2021.