Year-over-year all residential housing prices up 1.72%

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October, 2017: The average residential price in October for the Edmonton Census Metropolitan Area (CMA) is up 1.72% year-over-year (YoY) with reported unit sales down only 0.15% relative to October 2016.

All residential properties average price for October 2017 was $370,484, up 0.06% from September. A single family home sold for an average of $431,654; up 0.23% from September and up 1.44% from October 2016. The average price for condominiums was $242,887, which decreased 3.74% over last month and decreased 0.45% compared to the same period in 2016. Duplex/rowhouses decreased slightly to an average of $340,740 – down 0.55% from the previous month but up 1.15% from 2016.

Unit sales are down across almost all categories. Condo sales are down 8.17% month over month, and down 7.12% year over year. Duplex/rowhouses are down 10.06% month over month and down 5.30% year over year. Single family home sales increased in October by 3.69% and only decreased slightly compared to October 2016, down 0.59%.

All residential active inventory remains robust with 7,691 residential properties available in the Edmonton CMA at the end of October, down from September by 7.11% but still up over last October by 7.7%.

Average days on market for all residential properties was 61 this month, up 5.17% over last month and unchanged from last year. Single family average days on market was up to 55, condominiums were averaging 67 days on market, and duplex/rowhouses took an average of 61 days to sell in October.