Unit sales and average price increases in Edmonton last month bodes well for the spring market.

Edmonton Real Estate Board reported sales of 1,052 homes in February which was 5.65% Year-over-year but up 18.07% month-over-month.

On a monthly basis, single-family sales were up 22.97%, condos were up 14.17%, and duplex/rowhouses gained 21.28%. On an annual basis, single-family sales were down 4.21%, condos decreased 4.92%, and duplex/rowhouses 7.32%.

Inventory was up 10.9% m-o-m and 8.67% y-o-y while new listings were up 4.03% m-o-m and 5.92% y-o-y.

Average prices increased for all home types: single family homes to $442,206 (3.14% m-o-m/3.73% y-o-y), condos to $236,808 (4%/1.48%), and duplexes/rowhouses to $354,638 (1.73%/2.62%).

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