Home sales increased in the Edmonton CMA increased in May compared to the previous month, while both prices and inventory also gained.
Realtors Association of Edmonton reported a 15.4% rise in single-family sales, 18.42% for condos, and 3.55% for duplex/rowhouses month-over-month.
Year-over-year there was a decrease for single-family home sales (-3.86%) and duplex/rowhouses (-12.06%) while condo sales were up 1.12%.
Overall sales in May totalled 1,776, up 14.21% from April but down 3.46% from May 2017.
The average selling price was $377,139, up 2.13% month-over-month but down 0.54% from May 2017.
“Prices and unit sales in the Edmonton CMA market remain stable. This is good news for sellers who have been concerned about selling their properties before the summer months in a ‘buyer’s market’,” says Realtors Association of Edmonton Chair Darcy Torhjelm. “Buyers continue to have a great selection of properties to choose from, which means sellers need to be competitive with their listings.”
Inventory was up 13.23% compared to April 2018 and up 16.03% compared to May 2017 as new listings grew 19.19% month-over-month and 12.82% year over year.
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
More market watch: