March house sales in Edmonton down from same time last year

March house sales in Edmonton down from same time last year

Although house sales in the Edmonton region rose sharply in March, they’re still down by more than 10% compared to the same time last year, according to the latest data from the Realtors Association of Edmonton.   

While the number of single-family homes sold last month was 24% higher than in February, sales had still dropped 11% from March 2017.

Year-to-year sales results were also down for condominiums (-15%) and duplexes-row houses (-3%), with 1,655 March sales via the MLS.

The average price for all residential property was up 0.77% from March 2017, led by a 1% rise in the value of an average single-family house to $444,091.

In contrast, the average condo sold for $234,212, down by 3.5% from March 2017.

“We generally see housing market activity increase at this time of year,” said Darcy Torhjelm, chair of the Realtors Association of Edmonton. “Despite the year-over-year decreases, the market is still growing relative to February 2018 in preparation for the spring buying season. Market growth should continue in the coming months.”

Also read: Edmonton sales, prices start 2018 on a high


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