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).

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: