Edmonton sales data reveals continued challenges

The Edmonton housing market remains challenging with gains year-over-year in July despite some downward movement from the previous month.

Realtors Association of Edmonton says that sales of 1,622 was a 13% slip from June but was up 0.37% year-over-year; single-family home sales dipped almost 16% month-over-month but were up 0.60% year-over-year to 1,003 units; condo sales dropped almost 10% y-o-y and 3.04% m-o-m to 415 units; duplex/rowhouse sales were down 41.04% m-o-m to 181, which is up almost 10% y-o-y.

“It’s typical for unit sales to slow in July, which is shown in the year-over-year comparison,” says James Mabey, Realtors Association of Edmonton Chair. “Inventory is still strong for buyers, and marginal adjustments in year-over-year prices indicate a stable market for sellers.”

Average sales price was lower for single-family homes at $446,982 (down 1.51% m-o-m and 0.44% y-o-y); but higher for condos at $261,861 (up 0.68% m-o-m and 2.18% y-o-y). Duplex/rowhouses sold for an average $343,883 (down 1.87% m-o-m and 2.48% y-o-y).

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